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Introduction to Exporting - Part 7

Chapter 7 Delivering the Goods   International Trade Regulations You’ll have to familiarize yourself with your target market’s import regulations, product standards and licensing requirements to make sure that your products are imported without difficulty. If you’re a service exporter, you may have to acquire professional or other accreditation from the country where you’ll be operating.   Export Declarations For every shipment leaving a country, customs formalities must take place to meet regulatory requirements. Customs clearance is a transaction whereby a declaration is developed and required documents are submitted to authorities, and can only be performed by companies holding valid customs licenses, so-called customs house brokers. Export customs clearance can either be performed by a freight forwarder with a valid license or an agent appointed by the freight forwarder. Alternatively, it can be performed by a customs house broker appointed directly by the sh...

Introduction to Exporting - Part 6

CHAPTER 6 ENTERING YOUR TARGET MARKET   Understanding Entry Strategies Developing a market entry strategy simply means finding the best methods of delivering your goods to your market and of distributing them there. Or, if you’re exporting services, it means setting up ways to obtain and manage contracts in the foreign country. Working Out Your Entry Strategy Based on your market research, you’ve chosen the most promising markets for your product or service. Using what you know about these markets, you next decide which entry method best suits your needs. Some factors to consider are: How is business conducted in your target market and industry sector? What are your company’s export strengths and weaknesses? What is your company’s financial capacity? What product or service are you planning to export? How much service and after-sales support will your customers require? What trade agreements or barriers apply to your target market? Methods...

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                           ...