Page 83 - DMGT546_INTERNATIONAL_TRADE_PROCEDURE_AND_DOCUMENTATION

International Trade Procedures and Documentation

Notes Who will be your target customers within your chosen markets: You will need to identify
your target customers within the countries that you have chosen to enter. In addition, you
will have to collect detailed information on their current buying-volumes, frequency,
reasons for buying from a particular source, etc.

What is the best way to approach the target customers: Once you know your target
customers, the next step is to get in touch with them to market your company and goods
to them. You will need to decide what is the best way to approach them, as also when and
where. You could write to them, talk to them on phone, meet them at a trade fair, visit
them in their country or catch them in your country while they are visiting for some other
purpose.
What buying companies, agents or distributors would most likely be useful to get you the
prospective customers for your export products: You must look for intermediaries that
could get you export orders. Your research efforts, therefore, must focus on identifying
such sources.
What other sources could be tapped to source export business: You should find out about
various other secondary data sources that will help you explore export-marketing
opportunities.
The buyer sourcing effort: Having completed the basic marketing research to establish particular
potential pockets of customers, the next step is to look for orders. For this again one needs to
undertake a lot of research to generate as many leads of potential customers as possible. Contact
must be established with a large number of potential foreign buyers to look for business wherever
possible. The task is tough and could become unreasonably frustrating at times, but it also
happens to be the crux of all exports activity. Therefore, the exporter has to be at it till such time
that he has achieved success and that also becomes another beginning point of a long journey of
getting export orders and executing them again and again to keep the foreign buyers happy. The
job is continuous in nature and must be performed with utmost care at all times so as not to lose
any potential opportunity.

There are a number of sources available these days that provide useful buyer information in
different product/country categories. One of the most important are Government Agencies. A
number of government agencies in India are engaged in export promotion activities in their
respective fields. Exporters must seek their help in their export marketing pursuits:

Export Promotion Councils (EPCs),
Commodity Boards, assisting the exporters in the same manner as the Export Promotion
Councils.

Federation of Indian Export Organisations (FIEO) is an apex body coordinating and
supplementing the export promotional activities of various export companies and
institutions.

Indian Institute of Foreign Trade (IIFT), New Delhi, develops and organizes new training
programmes, research and market studies in the field of foreign trade.

India Trade Promotion Organisation (ITPO), New Delhi-110002, provides facilities
concerning participation in fairs and exhibitions in India and abroad. (See Box 4.1)
Development Commissioner for Handicrafts and Small Scale Industries respectively. (See
Box 4.2)
Marine Products Export Development Authority at Cochin helps in the development of
marine products meant for export with special reference to processing, packaging, storage
and marketing etc.

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