Development of Marketing Strategy and Marketing Plan for export
Marketing plan for export is a plan that is detailing what the company will sell, to whom, when and how, including business and marketing strategy. It includes information about the target market and financial data.
Strategy – originally a military term, in the context of business planning strategy it applies to why and how the plan will be fulfilled, with respect to all factors affecting the business subject and activity, especially competition, customers, demographics, technology and communication.
Marketing is a key part of business success. You need to decide which customers will be your target groups. You need to know how you will reach new customers and win them. You need to make sure that your current customers keep being satisfied. You also need to continuously examine and improve all what you are doing to make and stay ahead of the competition.
Your marketing plan for export should be the best that you use as the basis for the execution of your export marketing strategy. It is a document that sets clear goals and explains how’ll achieve them. And perhaps most importantly deals with the way in which you can ensure that your plan comes true.
Remember that marketing will not guarantee a sale, but the adoption of well-researched and coherent plan; you have a much better chance to build up long-term and profitable relationships.
For example, your SWOT analysis can help identify those customers who are the most important and your target group. You could decide to try to reach customers using the Internet. You might as well start researching ways to provide further investment in order to overcome your financial weaknesses.
Marketing strategy and plan should reflect the company’s ability to develop new export markets (as to be seen through analysis of its import capacity) and identified export opportunities (as a result of market research conducted during the phase of identification of market).
Elements of strategy and marketing plan for export:
Situation Analysis business company- current position in the market and industry and market trends; Export SWOT – analysis of the strengths and weaknesses of foreign companies; Market analysis: opportunities and threats analysis and conclusions, and finally analysis competition.
When you find out what are the goals of your export marketing and strategy to achieve these goals, you will plan how you will carry out your strategy into reality. Many companies find it helpful to reflect on the system of four P: product – the product of the company and to the same could adapt to the market; price – that pricing policies exporter benefits; promotion: Customers get familiar with the product and place – to deliver the product .For a more comprehensive approach, you can expend and seven P: payment – the complexity of international transaction planning – export activities have to be planned, the employees – qualified and available staff , paperwork – processing the required documentation , practice – differences in cultural and business practices , a partnership – a long-term partners to market , positioning – how we see on the market , protection – non- tariff barriers .