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TRADE
Transfer ofownershipof goods or services.
Trade is sometimes loosely calledcommerceorfinancial transaction
or barter.
INTERNATIONAL TARDE
International tradeis the exchange ofcapital,goods, andservices
across international borders .
EXPORT
In International Trade, "exports" refers to selling goods and services
produced in the home country to other countries.
The seller of such goods and services is referred to as an "exporter.
IMPORT
In International Trade, imports" refers to buying goods and services
produced in a foreign country to other countries.
The buyer of such goods and services is referred to an "importer".
EXPORT MARKETING
FEATURES
Systematic Process
Export marketing is a systematic process of developing and
distributing goods and services in overseas markets. The export
marketing manager needs to undertake various marketing activities,
such as marketing research, product design, branding, packaging,
pricing, promotion etc.
Large Scale Operations
Normally, export marketing is undertaken on a large scale. Emphasis
is placed on large orders in order to obtain economies in large sole
production and distribution of goods.
Dominance of Multinational Corporations
Export marketing is dominated by MNCs, from USA, Europe and Japan.
They are in a position to develop worldwide contacts through their
network and conduct business operations efficiently and economically.
Trade barriers
Export marketing is not free like internal marketing. There are various
trade barriers because of the protective policies of different countries.
Tariff and non-tariff barriers are used by countries for restricting import.
Documentation
Export marketing is subject to various documentation formalities.
Exporters require various documents to submit them to various
authorities like bill of lading.
STRATEGY
1. Marketing ObjectivesThe first step in developing an export marketing plan is to establish export marketing
objectives. These objectives should be attainable, realistic and should be communicated throughout
the business firm. Since they will determine the business firms direction and its activities,
management will have to devote considerable time and effort to setting them.
2.Market SegmentationAn export marketing plan is not complete until the business firm has identified its target segment
in the export market. Any large market would have different market segments that differ substantially
from each other.
3.Market ResearchTo succeed in export trade, A business firm must identify attractive export markets and estimate
the export potential for its products in them. Market research and forecasting are therefore, of great
importance.
4.Product CharacteristicsThe business firm should next consider the products that it has to offer. An analysis should be
any modifications required in the products, packaging changes needed labeling requirements, brand
name and after sales services are expected.
5.Export PricingIn setting an export price, the business firm should consider additional costs that do not enter
into pricing for the domestic market such as international freight and insurance charges, product
adaptation costs, import duties, commissions for import agents and foreign exchange risk coverage.
Case study
ABSTRACT
The Indian Sea Food industry is developing quickly: with near double-digit
positive levels of growth posted consistently year-on-year since the
beginning of the decade. The growth is being propelled by the decision of
the Indian Government to provide a major impetus to Sea Foods Exports.
.
RESEARCH METHODOLOGY
This study is primarily descriptive and exploratory in nature based on
secondary data and information relating to strategy from Sea Food Digest,
Marine Food Research Journals and other published literature.
GROWTH STRATEGIES
Growth strategies involve typical decisions around significantly increasing
relative functional performance. Such strategies focus resources on
seizing opportunities of profitable growth. According to study carried out
on the IT Industry in India (Anandaram 2003) growth is driven by
Leadership and vision
Differentiated approach
Marketing investment
Alliances and partnerships
Cultivation of local market
CHALLENGES TO
EXPORT MARKETING
1 Technological differencesThe developed countries are equipped with sophisticated technologies less
developed countries, on the other hand, lack technical knowledge and latest
equipments.
2 Reduction in export Incentives
Over the years, the Govt. of India has reduced export incentives such as
withdrawal of income tax benefits for majority of exporters. The reduction in
export incentives de-motivates exporters
3 Several competitions in global marketing
Export marketing is highly competitive. Indian exporters face three-faced
competition while exporting.
4 Problem of product standards
Developed countries insist on high product standards from developing
countries like India. The products from developing countries are subject to
product tests in the importing countries.
5 Problem in preparing Documents
Export involves a large number of documents. The exporter will have to
arrange export documents required in his country and also all the documents
as mentioned in the documentary letter of credit. In India, there are as many as
25 documents.
IMPORTANCE OF EXPORT
MARKETING
CONCLUSION
THE END
NOT REALLY
QUIZ
1)
2)
3)
4)
5)
JUMBLED SRODW
1) Aceeefgghinnorx
Foreign exchange
2) Vedacofiiiisnrt
Diversification
3) Ttrpueinoao
Reputation
4) Gbniildlaolf
Bill of lading
5) Ytooomhglde
Methodology
1)
2)
3)
4)
5)
systematic
Trade barriers
Market research
Documentation
THE END
PHEW.
EXPORT MARKETING
EXPORT
PRICING
Introduction
Pricing and costing are two different things and an exporter should not
confuse between the two. Price is what an exporter offer to a customer on
particular products while cost is what an exporter pay for manufacturing the
same product.
Export pricing is the most important factor in for promoting export and facing
international trade competition. It is important for the exporter to keep the
prices down keeping in mind all export benefits and expenses. However, there
is no fixed formula for successful export pricing and is differ from exporter to
exporter depending upon whether the exporter is a merchant exporter or a
manufacturer exporter or exporting through a canalising agency.
Frequency of purchase.
Credit offered.
2)
Promotion cost
3)
Packaging cost
4)
43
price later
Assumes that indirect fixed costs are fully recovered from domestic sales
Cost for manufacturing additional unit for export and exporting cost
Includes direct cost of material and labor only
General & Administrative (G & A) expenses not included
Floor price
45
The incentives offered are normally in line with the governments economic
philosophy, and are revised regularly to accommodate new areas of
emphasis (so its difficult to have a complete view of the mechanism).
Companies that export offshore to other countries clients ought to consider
an Export Tax Credit (ETC).
For example the export tax regime in the U.S. gives exporters the ability to
defer dollars of income per year almost entirely tax-free.