Five Steps to Success in Export Marketing
Five Steps to Success in Export Marketing
This phenomenon makes it important for all economic actors who are thinking about the growth of their enterprises to understand the concept of export marketing. Companies and firms that are thinking of expanding international markets for their product or service must first make sure of entering the export market and then make the necessary conclusions about the choice of export destinations and export methods to the designated destinations.
It should be noted that export marketing does not only mean identifying buyers or importers in the destination country and persuading them to place a purchase order. Export marketing is in fact synonymous with the precise implementation of the process formulated in the form of a marketing strategy aimed at achieving success in international markets. Azaz Motivala, founder and CEO of IKON India Marketing Consultants, believes that the reason for the failure of many businesses to enter the field of export or their failure to maintain and expand international markets for products or services is the lack of an executive plan to implement the firm’s marketing strategy; Is a company.
Therefore, it can be said that the key to solving the puzzle is to find an answer to the question of what is the executive plan for implementing the marketing strategy.
The implementation plan for the implementation of marketing strategy includes a set of measures in the field of export marketing, the step-by-step and accurate implementation of which leads to success in that field. With a little tolerance, these measures can be described in five general steps. It will be stated later. It may not be an exaggeration to say that the strict implementation of the following steps can lead to increased profits and market growth of the company’s products or services in the target international markets.
Step 1: Identify the target market
Naturally, the first step in export marketing is to determine the target market and identify the needs of that market that creates demand for the company’s products or services. Choosing the right target countries from around 200 countries in the world is very important to offer products or services. If the target market and the needs of that market are accurately determined, obtaining an order to export products or services to target countries will not be difficult. Conducting international market research to identify opportunities in cross-border markets is the best tool for determining export target markets.
Step 2: Develop export marketing strategies
After determining the target market, the next step is to formulate a package of correct export marketing strategies, including market entry strategy, market positioning strategy, product or service strategy, pricing strategy, branding strategy, supply strategy, and promotion-related strategies. Obviously, the development of this package of strategies will be done taking into account the needs of the target market. The results of international market research help firms and companies to develop a package of strategies tailored to the needs and wants of the target market. Marketing strategies are recognized as effective and efficient if they enable the company or enterprise to achieve the following business goals. :
1- Choosing the right target market so that there is potential demand and favorable traction to buy products or services in the market.
2- The position of the company and its products or services is superior and higher than the competitors.
3- Products or services meet the demands and needs of buyers in the designated market.
4- Pricing should be done in a way that is profitable for the company and customers at the same time. In other words, pricing plays a role in the process of simultaneous value creation for the company and customers.
5- Make the right decision about how to brand the product or service. (Enter the market with a specific brand or use an anonymous label and title).
6- To make the right decision about meeting the needs of customers based on inventory or designing and producing a product or service in accordance with the customer’s wishes.
7- Predicting the right and motivating incentives and proper use of promotion techniques, so that among the buyers and importers of the target country, appropriate and desirable knowledge about the company is created.
Any company or business enterprise, if the correct formulation of marketing strategies is formulated, can enter the international markets with ease, can be assured of gaining a suitable market share, as well as having a favorable growth in sales and export profits.
Step 3: Prepare marketing communication tools
After formulating marketing strategies taking into account the needs of the target market, the third step is to prepare marketing communication tools such as company ID, sales letter (this type of letter is an attempt to sell a specific type of product or product line and more for goods And services with a higher than average price are used.), Product catalogs, brochures, websites and the like. Finding a company in the target market and motivating potential customers to communicate effectively with the company.
In other words, all marketing communication tools should be well-designed, informative, attractive and professional in order to provide all the necessary information about the company and its products or services to the audience (potential customer or importer in the destination country). , To motivate potential customers to start a relationship with the company.
It can be said that marketing communication tools can have a significant impact on how customers or buyers decide to meet their need for a product or service from a particular company.
Step 4: Promote
Promotion is one of the four parts (although, according to some marketing experts, the five) of any marketing mix that takes place after the preparation of marketing communication tools, plays a key role in export marketing.
The most important goal of promotion is to inform customers or buyers about the nature of a company and its products or services. In general, any promotional mix consists of five components, including face-to-face sales, advertising, incentive buying techniques (such as discount coupons, etc.), direct marketing, and public relations tools. This is an article.
The combination used in each promotion mix must be cost-effective and able to deliver the right message at the right time and place. The promotional mix should guide the customer or importer in the destination country in such a way that while drawing his attention to the company’s products or services, he creates the necessary motivation and interest to start a business relationship with the company. Without exaggeration, the Internet can be called the most cost-effective and fastest promotional tool among other tools and methods in the field of export marketing.
Various studies show that most customers or buyers use search engines, B2B business portals and databases in cyberspace to find suitable suppliers and communicate with them. Therefore, introducing companies or products of companies in search engines is important. Because Google and Yahoo or business portals like Alibaba and even virtual social networks like Facebook, giving them the opportunity to appear in a public showcase on a global and international scale, is very effective in effectively informing customers or buyers. Direct participation in specialized exhibitions And commercializing or distributing catalogs of the company’s products or services at such events is another good tool that can lead to face-to-face communication with customers or buyers.
Step 5: Create a request
Receiving a purchase request from customers or potential buyers is the beginning of success in the field of export marketing and not the end for it. This requires the use of a professional and targeted promotion package, identifying customers or potential buyers and approaching them. The identity of potential customers or their previous purchase requests should be examined to determine whether it is possible to meet their wants and needs or not.
Unfortunately, one of the plagues that plagues many companies or businesses in the field of marketing is the lack of a specific plan or program to identify and communicate with potential customers. In this case, companies or businesses without considering the type of activity or needs of the audience Correspond with or contact them. As a result, there is a lot of contact with the audience that may not need the company’s products or services at all.
In many cases, customers or buyers are meeting their needs through other suppliers, but at the same time they are looking for a source that is superior to the supplier in factors such as quality, price and service, or seeking to increase the number. In contact with such customers, they should try to explain and highlight the competitive advantages of the company and its products and services in order to persuade the customer to submit a request.
It is obvious that after receiving the purchase request, by establishing effective communication with the customer and using negotiation techniques, the order can be obtained from the customer. The five steps mentioned in this article are related to each other and lead to the desired result if Each one done correctly. It should not be forgotten that export marketing is a continuous and permanent process that by considering the time requirements and general conditions governing the market and the economy in the international arena, its various stages can be reviewed.