Page 77 - DMGT546_INTERNATIONAL_TRADE_PROCEDURE_AND_DOCUMENTATION

International Trade Procedures and Documentation

Notes

Did u know? Different organizations could approach export markets at different times,
depending upon their motives and understanding of the foreign markets.

4.1 Export Marketing

Export marketing consists of choosing a country/countries and sourcing willing buyers, planning
and executing their orders made at home and completing all the requisite formalities. These
days, export marketing has virtually become unavoidable because if you do not go to their
markets, they will come to yours. The impact of globalization is for everybody to see. Only
those firms will succeed that are able to deliver satisfaction for their customers better than their
competitors, irrespective of whether the transaction is local or global. This has an additional
implication for exporters for their task is not restricted to sourcing buyers and supplying them
with ordered goods. They have to look for building long-term relationships with their buyers
by giving them expected service consistently and coming up with innovative ways of improving
their offerings.

They also need to be proactive in their approach. The idea is to keep looking for new markets
and new buyers to conquer. Traditional marketing has to be ably supported with non-traditional
channels. New experiments to improve supply chain have to be explored. Improving efficiency
to bring down the cost is the order of the day. An exporter therefore, must redefine his role as a
marketer. He has to create opportunities by aggressively marketing to the foreign buyers,
rather than being satisfied to be at the receiving end, awaiting the mercy of the importer.
Government initiatives also play a crucial role. In India, for example, there are various agencies
that help businesses in their export efforts. With all the help and information available, the
exporter or the export manager of a business firm has to really take on this challenging yet
interesting task of export marketing in his stride to be able to succeed.
The following framework is suggested to approach the task:

Decision to go international
Scanning the general business environment
In-depth market research
The buyer’s sourcing effort

Communicating with foreign buyers
The order finalization
Arranging finance and other resources

Organizing production
Pre-shipment activities
Post-shipment activities
We will discuss those that have a direct relation to the export-marketing task.
Decision to Export: This is not an easy decision but once taken it has to be backed by total
management support and commitment. Reasons behind this decision could be positive or
negative, intentional or forced but once committed, one is advised to put all forces behind the
decision. The reason why many people back out halfway is because they do not probably
ponder enough before taking the leap. Export sounds very lucrative but there could be long

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