The following practical suggestions should be kept in view while developing the export marketing plan.
1. Exporters should be innovative. That is to say, the exporters should innovate new product designs, strategies and promotional policies to improve the level of exports. This helps them to make ‘value rich offers’ that are better than the best.
2. Marketing nicking may be the exporter’s best option. Developing country exporters of manufactured products rarely occupy a dominant position on international markets. The exporter should therefore, aim at a market niche rather than at the mass market. One advantage of market nicking is that it does not require elaborate and expensive market investigations before market entry. A simple study of potential customer groups may be adequate.
3. Exporters should seek value-adding product strategies. Another implication of market niching is that attempting to achieve price leadership may not be the exporter’s best option. Product differentiation, branding, distinctive styling, durable packaging, outstanding customer service, etc. could provide comparative advantages on the export market and therefore, eliminate the need to compete solely on the basic price.
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4. Exports should know the key buyers in the target market. Successful exporting often result from establishing strong relations with a key intermediary with access to distribution channels in the export market. This intermediary may be an importer, broker, trading business firm, or the business firm’s distributer/agent. Forming a business alliance with a reputable partner that can channel export products to appropriate distribution point is one of the most important tasks in exporting. Such a task would fall under what is termed a “push” strategy. A contrast is provided by “pull” strategies which require the export to be in direct contact with end-users or consumers. The letter is frequently a costly strategy and is therefore not feasible for the small and medium-sized enterprise.
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5. Exports should choose their market carefully. The choice of market can make the difference between success and failure in exporting.
6. Exporters should clarify their motive for exporting and set their objectives at the outset. They should know why they want to export and set their goals. Hopefully, the export venture will contributes to both their profit-seeking and market expansion objectives.
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7. Exporters should consider export market development a long-team investment. Managers learn the tasks of exporting gradually, familiarity with export markets is gained over time and business relationships evolve and are strengthened over a period of time. Sustained efforts are therefore, essential in export marketing.
8. Planning and strategy development are essential for success in the long run in export trade.
9. Exporting requires technical expertise. The export firm should have the requisite technical expertise, in addition to careful planning and suitable products. Managers sometimes underestimate the complexity of exporting tasks, the risks involved and the consequences of failure. A realistic understanding of the commitment required to success in an export venture is essential.
10. No enterprise should seek entry into an export market until it is ready. Any attempt at exporting without experience in domestic marketing is bound to fail. Research suggests that enterprises gain important skill, knowledge and confidence at home which often prove beneficial in the export markets as well.
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11. The responsibility for the export effort should be assigned to a key staff member, usually known as Export Manager. Experience suggests that an export venture is more likely to succeed when a key person in the enterprise is assigned the export task. This person can play a combination of roles as change agent, motivator, resource person, organizer and so on.