Economics/6.Marketing
and management
Okhrimenko I.Y.
Gavrilina E.I.
Donetsk National University of
Economics and Trade
named after
M.Tugan-Baranovsky, Ukraine
How To Build
A Successful Exporting Business
Export marketing is a serious issue for most growing
companies in today's interconnected global economy. Whether to export or not,
where to and how to, are the major questions for companies willing to expand
their international markets.
The objective of the thesis is to define five steps
to successful exporting business.
Export marketing is not just a process to find
buyers and approach them but a well planned strategic marketing process one
should follow and performed well to get success in International Market. Major
export marketing efforts get failed due to lack of implementing strategic
marketing action plan.
Strategic marketing action plan is a set of key
functional areas of export marketing which should be performed well and
followed step by step to get succeed in Export marketing.
It may
be a smart idea to first work for an export firm since it will familiarize you
with the industry before launching your very own business. You will learn the
integrity of the trade and will have a background to support you. To be a
successful entrepreneur one has to be smart and quick with ideas and decisions.
Look for markets where your product is fairly new or if your product is already
present in large quantities look for ideas that will attract international
customers only to you.
First
step of export marketing is to identify target market and market needs where
your products/services has good market potential and demand. There are many
countries in world and you should pick right one for your product and services.
If you know your target market and market needs, you could easily get export
orders from those countries.
It is
extremely important to define your target customer. Know them before you offer
them your product. Knowing the clients language will help you to connect better
with them that will finally have a positive impact on your export business.
Selection of distribution channels is also an integral
part of exporting, as distribution channels are the necessary links that
ensures the manufacturer’s goods reach the end users – be it direct exporting
or indirect exporting.
Market research will help you to identify the right target market,
competitors in the market, customers, distribution channels and the best way to
promote your product.
The
next step is to prepare informative and appealing marketing communication tools
like Company Profile, Sales letter, Product Catalogue, Brochures, Website that
can supports in positioning and promoting your company. Your all marketing
communication tools should be well designed, informative, professional and
appealing that can deliver all necessary information of your company and
products/services to prospective buyers and influence their decision to start
business communication with you.
Promotion
plays a major role in export marketing success. Main objective of promotion is
to create awareness among buyers of what you are and what you offer.
Promotional mix should be cost effective and should deliver right message, in
right time and at right place. Promotion should lead buyers to get attention,
capture interest and take action in initiating business communication with you.
Internet is the best cost effective and fastest promotion tool in present
export marketing practices.
Finally,
we may say that to build a successful exporting business you must follow the
nex steps:
1) identify you target
market and market needs;
2) define your target
customer;
3) select
distribution channels;
4) prepare marketing communication
tools;
5) promotion.
All
above steps are inter connected and can only give results if each step
performed or performing well. Export marketing is a continuous process and all
those key functions can be reviewed and modified time to time as per changing
global economic and market situation.
Literature: