Site Contents for Secrets of International Trade

Marketing Strategies for Export

Some manufacturer may decide not to export
themselves, but employ a trading house or an export agent to act on its behalf in seeking market opportunities, promoting and securing orders.

A strategy is just a sophisticated name for a plan. You should have one basic plan for exporting, such a plan can be broken down into five basic steps:

• 1. Market Research
   
• 2. Product design
   
• 3. Pricing (How to do Costing for Export?)
   
• 4. Distribution
   
• 5. Promotion

Together, in harmony they should enable the manufacturer to achieve its Export Marketing Strategies sales plan.

Page 6/6 Product Branding Strategy

Market Research Strategies for Export

The manufacturer should determine which foreign market to target first. Singapore firm, for example, automatically looks North of the border such as Malaysia. Therefore, exporters should always consider exporting Next Door.

In targeting likely foreign market, the exporter should use a Checklist of factors. In practice, market research through the participation in a trade fair, government sponsored export mission or personal visit to foreign countries.

• 1. The potential size of the market for its product
   
• 2. The types of customers, competitor's products and their prices
   
• 3. The most suitable channels of distribution
   
• 4. The best way of entering the market (agent or joint venture, etc)
   
• 5. The existence of any market opportunities that would provide a market "niche" and "competitive edge".

Smaller exporter may wish to reduce the costs of any market survey by using government services available.

• Trade Commissioners stationed at embassies abroad are only too willing to help the exporter assess the foreign market and suggest likely distributors.
   

• The export firm must provides adequate product literature, samples and other necessary information.
   

• Government trade missions

Some manufacturer may decide not to export themselves, but employ a trading house or export agent to act on its behalf in seeking market opportunities, promoting and securing orders.

Checklist for Market Analysis

1. Product Acceptability?

2. Product Advantages?

3. Sufficient Potential Volume?

4. Adequate Plant Capacity?

5. Adequate Export Financing?

6. Sufficient Availability of Raw Goods?

7. Compliance with all Export Market: Rules/Regulations/Labels?

8. Ability to Provide Satisfactory Servicing in Export Market?

9. Availability of suitable Banking Facilities in Export Market?

10. Stability of Economic and Political Climate in Export Market?

11. Availability of Adequate Warehousing?

12. Adequate Shipping/Transport Facilities in Export Market?

13. Suitable Sales/Distribution Methods Available in Export Market?

Next page 2/6 Market Research Checklist "A marketing research checklist should help a manufacturer organize"

 

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