Developing a marketing plan

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Developing a Marketing Plan

BUSS154 ONL – Spring 2013
Week 1

Developing a Marketing Plan
Learning Objectives:





Writing a marketing strategy
Researching foreign markets
Researching the market

Developing a Marketing Plan
Market Research Determines:






Countries currently buying similar products
and size of market
Competitors
Market standards
Product modifications such as labeling or
packaging

Developing a Marketing Plan
Market Research Determines (con’t):





Pricing strategies
Optimal distribution channels
Duties, taxes and other costs or restrictions
Additional required testing and certifications

Developing a Marketing Plan
Research Results Will:






Identify the largest markets for your product
and fastest-growing markets
Market trends and outlooks
Market conditions and practices
Competing firms and products

Developing a Marketing Plan
Market Research




Primary Research: interviews, surveys,
direct contact with representatives and
potential buyers
Secondary Research: trade statistics for a
country or product

Developing a Marketing Plan
Method of Market Research:





Be aware of world events
Analyze trade and economic statistics
Get expert advise: U.S. Dept of Commerce
and other government agencies; attend
seminars, workshops, trade shows; hire
expert consultants; other exporters; trade and
industry associations

Developing a Marketing Plan
Elements of Market Research
I. Screen Potential Markets
Step 1: Obtain export statistics
Step 2: Identify potential markets
Step 3: Target most promising markets

Developing a Marketing Plan
Elements of Market Research
II. Assess the Targeted Markets
Step I: Examine product trends
Step 2: Research the competition
Step 3: Analyze marketing factors
Step 4: Identify barriers
Step 5: Identify any incentives

Developing a Marketing Plan
Useful Links:
Export Statistics:
http://www.census.gov/foreign-trade/index.html
Market Research Reports:
http://export.gov/mrktresearch
Demographic Statistics:
http://unstats.un.org/unsd/databases.htm

Developing a Marketing Plan
III. Drawing Conclusions




Select a few countries (fewer than 10) to
market products if new to exporting
U.S. export promotion programs can assist
marketing efforts

Developing a Marketing Plan:
Sources for Market Research


General Export Information






Export.gov:
http://export.gov/exportbasics/index.asp
International Trade Administration:
http://trade.gov/
Small Business Administration:
http://www.sba.gov/category/navigationstructure/exporting-importing

Developing a Marketing Plan:
Sources for Market Research


Statistical and Demographic Information







Stat-USA/Internet
USA Trade Online
Eurotrade Online
Tradestats Express
Statistical Yearbook
World Bank Atlas and World Development
Indicators

Developing a Marketing Plan:
Sources for Market Research


Statistical and Demographic Information




World Factbook
International Financial Statistics
Global Population Profile

Developing a Marketing Plan:
Sources for Market Research


Export Opportunities at Development
Agencies




Multilateral Development Banks
Budget Justification to the Congress of the
USAID: http://www.usaid.gov/

Developing a Marketing Plan:
Sources for Market Research


Industry Information





U.S. Department of Agriculture, Foreign
Agricultural Service
Textile and Apparel Database
Private-Sector Product and Industry Resources

Developing a Marketing Plan:
Sources for Market Research


Regional and Country Information











China Business Information Center
Asia Now
Middle East and North Africa Business Information
Center
Showcase Europe
Trade Americas
OECD Publications
Market Research Libraries
Customized Market Research...
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