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Developingan Export Strategy Marketing Plan (1)

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Developingan Export Strategy Marketing Plan (1)

  1. 1. Developing an Export Strategy & Marketing Plan<br />International Business Certificate Program<br />
  2. 2. Topics to be Discussed<br /><ul><li>How to Succeed in Today’s Global Marketplace
  3. 3. Importance of a Marketing Plan
  4. 4. Market Research and Resources
  5. 5. Choosing a Product to Export</li></li></ul><li>Topics to be Discussed 2<br />Choosing Target Countries<br />Export Distribution Plan<br />Export Product Pricing Plan<br />Advertising and Promotion Plan<br />After Sales and Support Plan<br />
  6. 6. Why Export?<br />To Set-up Additional markets<br />To find sales opportunities not found here<br />To create sales stability in times of U.S. slumps<br />Exposure to new ideas and concepts<br />It’s fun, challenging and full of learning<br />
  7. 7. Today’s Global Marketplace <br />Global sourcing is a reality and its here to stay<br />Instant access to information via the Internet<br />Worldwide demand for more speed & efficiency, better quality & service<br />Trend of moving from manufacturing to more service oriented companies in U.S.<br />Information, technology, management and finance are main U.S. strengths<br />
  8. 8. Today’s Global Marketplace 2 <br />Fiercely competitive world<br />Must differentiate your product<br />High quality<br />High or new technology<br />New designs, more creativity<br />Quick & Efficient Service<br />Need for great branding, attractive products, packaging and promotion <br />
  9. 9. Before Going Global<br />Seven Questions to Answer before Developing an International Strategy<br />1. Do you have management commitment to expand int’l? <br />You will have:<br />Budget<br />Personnel<br />Time commitments<br />
  10. 10. Before Going Global<br />2. Who are the end-users and why do they need your product? <br />Identity the role the product plays for each consumer.<br />
  11. 11. Before Going Global<br />3. What is the basis for your company’s competitive advantage?<br />price, features, quality, customer service, brand and product Image, technology.<br />
  12. 12. Before Going Global<br />4. What is the most effective distribution channel for your product?<br />Do you sell to: <br />agents <br />distributors <br />direct to end-users<br />
  13. 13. Before Going Global<br />5. What role does your company play in the value chain? What are the value-added activities?<br />R&D<br />Purchasing<br />HR management<br />Technology<br /><ul><li>Manufacturing
  14. 14. Marketing and sales
  15. 15. Customer service</li></li></ul><li>Before Going Global<br />6. Did you conduct an analysis of your industry and its profitability structure? <br /><ul><li>Bargaining power of buyers - leverage
  16. 16. Threat of substitute products or services – alternatives
  17. 17. Bargaining power of suppliers - leverage
  18. 18. Threat of new entrants - entry barriers
  19. 19. Rivalry among existing firms – competition </li></li></ul><li>Before Going Global<br />7. When and how will you know if your international expansion must either be stopped or scaled back? <br />How much investment in time and resources (cash) will be allowed before the company acknowledges it cannot continue its international strategy?<br />
  20. 20. Qualities of a Successful Exporter <br />Long term thinking<br />Patient<br />Flexible <br />Culturally sensitive<br />Ability to deal with both detail and broad thinking and planning<br />Good communicator with people skills<br />
  21. 21. Export Players<br />Exporters<br />Manufacturers<br />Export Management Companies (EMC)<br />Commission Reps<br />Freight forwarders/Customs Brokers<br />Shipping lines/Airlines/Truck/Rail<br />Banks<br />Foreign Buyers<br />Distributors<br />Reps<br />Retailers/Chain stores<br />
  22. 22. The Export Process for Success<br />1. Focus on a product and be the best<br />2. Know your U.S. buying and selling environment and competitors <br />3. Know your foreign buyer environment and needs<br />4. Manage well all processes between factory and partners and foreign buyers <br />5. Its all about relationships. Make them solid, make them last <br />
  23. 23. Importance of market planning<br />Global market is a big place<br />We have limited resources<br />Must focus efforts on best countries and foreign partners for our products<br />Need to budget money and time for the most bang for the buck<br />Need to fit into overall business plan<br />
  24. 24. International Marketing Plan Elements<br />Written strategy for 2+ years covering:<br />Products<br />Target countries and sub markets<br />Distribution channels<br />Pricing<br />Promotion<br />Service<br />Budget<br />Travel<br />Time goals<br />(See sample export marketing plans and template)<br />
  25. 25. International Market Research Tools<br />Export assistance agencies<br />Internet<br />Colleges, universities & libraries <br />Trade & Industry associations<br />Trade shows<br />Information from other companies<br />Foreign consulates & embassies<br />
  26. 26. Choosing a Product to Export<br />Will your product sell abroad?<br />Are product modifications required?<br />Size/color/formulation/design<br />Labels & packaging<br />Instructions<br />Language<br />Voltage<br />
  27. 27. Selecting Your Target Countries<br />Where is the demand highest?<br />Where is there less competition?<br />Where do you have an advantage because of language of culture<br />Where do you already have contacts?<br />Analysis of competition by country<br />
  28. 28. Researching your markets<br />Understand your product classification numbers- Harmonized Tariff Schedule (HTS) and SIC codes<br />Use Trade agency websites<br />CITD<br />U.S. Department of Commerce<br />U.S. Customs (for HTS codes)<br />Selecting Your Target Countries<br />
  29. 29. Selecting Your Target Countries<br />CITD.org Website<br />Best Market Reports (BMR’s)<br />International Trade Database<br />Export and import trade statistics<br />U.S. Department of Commerce Country Commercial Guides<br />
  30. 30. Making an Export Distribution Plan<br />Decide on mix of distribution channels:<br />Distributors<br />Commission representatives<br />Chain stores<br />Direct to end user<br />
  31. 31. Finding Buyers/Distributors<br />Government agencies<br />Internet<br />Referrals <br />Trade shows<br />Trips<br />
  32. 32. Export Pricing Plan<br />Prices must be competitive with local, foreign and U.S. companies<br />Must be competitive with prices seen on internet, even with U.S. distributors of your own product<br />Prices should be affordable to target market buyers<br />Must analyze total cost to end user, with duties, sales VAT tax, distribution margins, etc.<br />
  33. 33. Plan for Advertising and Promotion<br />Begins with plan of how to find & reach potential buyers & distributors<br />Direct mail and email<br />Website and links (don’t forget foreign language translation)<br />Use of media: magazines, newspaper, radio & TV<br />Trade shows in USA and abroad<br />Trade associations and directories<br />
  34. 34. After Sales and Support Plan<br />There will always be after sales service and warranty issues<br />Normal U.S. policies are usually not enough. <br />Need to cover:<br />Who takes care of service? Here or there?<br />Who pays for service and freight if returned?<br />Who pays for training?<br />
  35. 35. Marketing Budget<br />Make a realistic budget, including:<br />People & salaries<br />Promotion, materials & advertising<br />Communication<br />Trips<br />Trade shows<br />
  36. 36. Good Communication is the Key<br />Frequent commutation with buyer & partners minimizes misunderstandings<br />Understanding of foreign requirements and cultural differences very important. If they ask for it, they probably need it<br />Provide responses and solutions quickly<br />Travel and meeting clients and partners is essential and will triple your sales! <br />
  37. 37. Travel is Key<br />Make travel plan budget<br />Establish travel procedures S.O.P<br />Visit your customers at least once/Yr. <br />Combine with trade shows<br />Don’t forget U.S. shows<br />Take samples & literature<br />Learn culture and honor clients<br />
  38. 38. Important to Revise Plan Often<br />This is a quickly changing world<br />Learn by your mistakes and quickly adapt to new conditions and trends <br />KEY: Learn to listen to your buyers & let the market tell you what it wants<br />
  39. 39. Conclusion<br />There is a large international sales and profit potential<br />To succeed, we don’t have to be the richest or smartest, but we must be ready to commit to the export process, putting in the time and effort required over the long term.<br />
  40. 40. Export Assistance Resources<br />Center for International Trade Development (CITD)<br />U.S. Department of Commerce (DOC)<br />Export Import Bank (EXIM)<br />U.S. & California Dept of Agriculture<br />Small Business Administration (SBA)<br />
  41. 41. Center For International Trade Development<br />California State funded<br />Fourteen offices in California<br />Assistance with export and import<br />Workshops<br />Free consultations<br />Trips and events<br />
  42. 42. Robert Corona<br />Director<br />Riverside Community College District<br />14745 Riverside Drive<br />Riverside, CA 92518<br />(951) 571-6443, Fax: 951-653-1051<br />Robert.corona@rcc.edu, www.citd.org<br />http://www.linkedin.com/in/rcorona<br />

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