MARKETING STRATEGY AND EXPORT DEVELOPMENT

Marketing Strategy and Export Development

Marketing Strategy and Export Development

Introduction

For marketing management, marketing strategy or marketing strategy is a process of study and reflection with the aim to approach closer to the adequacy of supply and demand. According to Anthony (2010), the export success is a challenging process. Once the company identifies the goods or services you want to sell, should explore opportunities in the world. Then you must develop a strategy for development of products or services, prepare the goods or services for the market, determine the best way to transport those goods or services, sell goods or services, receive payment, and respond to the citations, and guarantees established.

Complicated matter is that the company must manage these activities with the same intensity and intent in different cultures, market forces, financial systems, and legal requirements that are necessary for doing business in foreign markets (Rogers, 2008, pp 23-45).

What is meant by the 'business and market environment' of a target market? What kind of information would an exporter need to collect to understand this?

For any Business Organization which is eyeing a foreign market as a part of its Exports strategy, getting its Marketing and Supply chain in place forms a critical part of the initial process which will determine his initial foray into the markets.

While doing business in foreign markets is very lucrative, the initial cost of marketing can be very high until business volumes pick up sufficiently to justify the kind of expenses being incurred. However the expenses are justified keeping view the long term potential of the country and the export market (Moschis, 2012, pp. 45-78).

What is meant by the concepts 'market segmentation' and distribution channels'? What kind of information would an exporter need to collect to understand these?

Market segmentation strategies involve dividing the market into groups, where individuals have similar needs and wants for services and products. It could also be a segmentation of people on the basis of behaviour, culture and economic status. For an exporter it is important researching potential markets that can help them:

identify where the product is most likely to sell

specify market segments

determine both domestic and international competitors

establish a fair market price for their product

Distribution Channels

Direct channel of distribution is the most common for products which are used for marketing. Since it is direct and the shortest way of distribution of the product. For an exporter's point of view, it is important to consider all the variables and cost that are required before distributing the products. In this channel, producers or manufacturers using its own sales force to market and sell products to industrial customers (Gummesson, 2009, 123-145).

What are the financial issues, export practicalities and technicalities that an exporter would need to know about to in the context of developing an export strategy?

The role that financial constraints play in shaping firms' export activities has been discussed many times. It is a fact that confirming that limited access to external capital narrows the scale of foreign sales, the exporters' product scope ...