Chapter 3. preliminaries for starting export business
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The document discusses various aspects of overseas market research and export marketing, including identifying consumer needs, distribution channels, and promotional strategies. It outlines procedures for conducting market research, selecting foreign markets, and developing appropriate product, pricing, distribution, and promotion strategies for international markets. Finally, it discusses factors that influence international product life cycles and various methods for entering foreign markets.
Chapter 3. preliminaries for starting export business
- 2. OVERSEAS MARKET RESEARCH IMPORTANCE PROCEDURE • Competitive Advantage • Identify & Define Problem • Conduct a Preliminary • Consumer Needs Investigation • Effectiveness Of • Determine Data Needs Channels Of Distribution • Determine Data Sources • Create the Research • Effectiveness Of Design Promotional Measures • Design a Questionnaire • Designing a sample of • Packaging Design respondents • Forecasting Sales • Selection & Training of field staff • Pricing Decisions • Collection of Data • Organization of Data • Analysis & Interpretation of
- 3. FOREIGN MARKETS PROCEDURE FACTORS • Determine Export • Customers Marketing Objectives • Competition • Collection Of Information • Import Regulations • Analysis of Information • Size of Markets • Short Listing of Markets • Economic Stability • Detailed Investigation of • Political Stability short listed markets • Distribution Network • Selection of Markets • Availability of after-sale- service personnel • Entry in overseas • Business Community Markets • Location
- 4. PRODUCT PLANNING STRATERGIES FOR EXPORTS • Product planning • Distribution Strategies strategies Direct Exporting Product Innovation Indirect Exporting Product design • Promotion Strategies Production Adaptation Standard Product standardization Differential • Pricing Strategies • After sale service Skimming pricing Strategy penetration pricing • Product positioning Differential pricing Strategy • Product mix / line Strategy • Branding Decision
- 5. NEW PRODUCT DEVELOPMENT PROCESS • Idea Generation • Analysing The Idea • Short listing of Idea • Investigation • Selection Of best Idea • Product development • Test marketing • Commercialization • Review of product performance • Changes in Marketing Mix
- 6. INTERNATIONAL PRODUCT LIFE CYCLE IPLC METHODS OF ENTRY IN FOREIGN MARKETS • Introduction stage • Direct Exporting • Indirect Exporting • Growth stage • Joint Ventures • Maturity stage • Franchising Strategy • One country production • Decline stage Base • Licensing • Production Sharing • Acquisitions • Green field development • Turnkey Operations
- 7. EXPORT MARKETING CHANNELS OF DISTRIBUTION WAREHOUSING • ROLES : Balancing • Break Bulk demand & supply, financing, Information, Operations Create Utilities, Improve • Re – assembly distribution efficiency, Provide Assortment of Operations goods, • Just in time Supplies • PROCEDURE : Formulating channels obj • After sale service Identification of channel Requirements functions Analyze product characteristics • Quota Restrictions Analysis of distribution environment
- 8. PROMOTION MIX IN EXPORT MARKETING IMPORTANCE ELEMENTS • Product Awareness • Sales Promotion • Persuasion • Advertising • Reputation • Public Relations • Information to Intermediaries • Personal Selling • Developing Brand Loyalty • Publicity • Developing Brand Image • Trade Fair & Exhibitions • Education • Internet • Expansion of Markets • Overcoming Negative Attitude • Economic Growth of Nations