Business

THINGS TO NOTE WHILE WRITING AN EXPORT PLAN

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  • Business history and mission and vision statements
  • Purpose of the export plan
  1. Organize goals and objectives

The following should clearly be listed in the plan 

  1. Short or medium-term for expiry

The period in which you will be offering services should be detailed in the plan too.

  1. Intention market goals

This answers why you are exporting the good 

  1. Location in which you will be supplying the product in the foreign country

Steps to develop an export plan

  • Service and goods you provide
  • Market research

Entails how you made your decision to export to a foreign country. This is more of data collected being analysed and coming up with the suitable foreign marketplace

  • Pricing strategy is how you are going to price your products. They include:
  1. Sliding down the demand curve
  2. Skimming the market strategy
  3. Penetration pricing strategy
  4. Pre-emptive pricing strategy
  5. Extinction pricing strategy
  • Strategy to find buyers

Perfect export plan

Potential export which is a workable strategy and regular series to review the country in which your think according to your analysis of data you have can be a good market for your product. The question which comes into your mind is…how will I do it? This is achievable by:

  • Thorough research on the foreign market. You can do it by considering a prior visit to the foreign market and do the analysis of the market
  • Consider doing or exploring or discussing the rate suitable for the market entry
  • How will you deliver the product overseas? Or you will do it while in your country in cases of services which require only good internet
  • Consider know the local language of the foreign market and try to adapt to the culture which defines people and their habits. And knowing their habits you know what it means to business.
  • Work on your payment plan and risk management even if it means opening a local bank account in the foreign market.
  • Figure out which distribution method you will use when delivering the product to the foreign market.

Note that every country has its own rules and regulations. So, it is your initiative to know rules and regulations and still get to know the government policies in play in the foreign county.  This is very crucial before investing in a foreign country.

In that case, if you need any assistance with this stuff, please check on Clearit USA customs brokerage for your help.

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