Once you have decided to go in for exporting, the next step is to develop a marketing plan.
As you can imagine, many foreign markets differ greatly from India. Differences include climatic and environmental factors, social and cultural factors, local availability of raw materials or product alternatives, lower or higher wage costs, varying amounts of purchasing power, the availability of foreign exchange, and government import controls.
To handle all these changes, a marketing plan is required.
A clearly written marketing plan offers six immediate benefits:
Written plans are not easily forgotten, overlooked, or ignored by those who are made in charge of executing them. If deviation from the original plan occurs, it is probably due to a deliberate choice.
Written plans are easier to communicate to others and are less likely to be misunderstood.
Written plans allocate responsibilities and provide for a way in which results and progress can be measured.
Written plans are helpful when you have to approach banks and other
organizations for financial assistance. They indicate to lenders that
you have a serious approach to the export venture.
Written plans give your companies management a clear understanding of what will be required of them.
But, before writing a marketing plan, some market recearch is to be done. We have provided a step-by-step guide to market research for exporting.
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