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Showing posts from January 27, 2017

Introduction to Exporting - Part 5

Chapter 5 - Developing Your Export Marketing Strategy Understanding Export Marketing Plans Long before you fill your first order, you’ll need an export marketing plan. While you’re developing it, remember not to confuse marketing with advertising, sales or promotion. Marketing is strategy. The other three are the tools your strategy will use to reach your target audience. A good marketing plan should answer the following questions. According to your research, what are the characteristics of your target market? How do your competitors approach the market? What is the best promotional strategy to use? How should you modify your existing marketing materials, or even your product or service? The Many P’s of International Marketing The 4 P’s of marketing are commonly referred to as the marketing formula and include: Product                                 —what is your product or service and how must it be adapted to the market? Price