Why Do You Need Export Marketing Plan
- Determines the availability of resources
- Determines the objectives and business direction pertaining to export
- Provides clear and focus guide on how to enter export markets
- Minimises risk as company will be able to calculate any possible financial risks involves
- Prioritises and segments export markets according to their ease of entry.
SWOT Analysis
It is important to have a export marketing plan which must be followed up by a SWOT analysis approach. The SWOT analysis must include the key internal (Strenghts and Weaknesses) and external factors (Opportunities and Threats) that are important in preparing the export marketing plan.
Strenghts
- Strong Company Resources
- High Product Potentials
- Well Coordinated
- 4Ps and 4Cs (Price, Place , Product, Promotion)/ (Customers’ Cost, Customers’ Convenience, Customers’ Choice, Communication)
Weaknesses
- Product quality – Low product potential quality
- Market accessability – Difficult market assessability
- Low A&P Budget – No advertising and promotional
Opportunities
- Requirements
- Wide spectrum
- Search Engine
Threats
- Cheap goods – Competitor are selling cheap goods
- Dumping – Competitors are dumping their goods overseas
- Certifications – High certification standards and requirements
- Technology – Technology disadvantage against other country such as India, China and Japan.
- GSP
Competitor’s Comparative Analysis
- Analysis on competitor’s strategies and activities both local and foreign in the target market
Know Your Market Needs
- Technology
- Packaging
- Labelling
- Branding Strategies theat suits their requirements
- Establishing linkages and networking with industry players
Positioning Your Products and Services
- Understanding the viability of your products/services in target export market
- Positioning your products in relation to your competitors
- Prepare market contingency plans to meet targeted export market demands, if needed.
- Segmentation of price according to competitor’s price, local demands and perception.
- Identifying suitable promotion tools in accordance with market needs.
Who Can Help
At Wexpot we can asssist you to optimise your efforts in achieving your export targets. You can contact us at 012-2911340 or email cj.hor@wexpot.com
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