The Role Of Product Planning For Export Marketing

Many companies in both developed and developing countries may find after a very rigorous domestic growth period that their future growth opportunities at home are limited by the structure of the market, by competition and by their own managerial and financial capabilities. While they may feel that there could be attractive markets abroad, they do not know how to enter into profitable export operations. Certainly there are a host of questions that the export businessman must have answers to before entering foreign markets successfully. Where may the products be sold? What are the sizes of various markets? Can they be readily tapped? What product modifications may be necessary? In this article, for practical purposes, the global marketing approach is discarded in favour of the more suitable export marketing approach. It is assumed that a decision to export is being considered by the management of a company. International marketing is used as a synonymous term to export marketing which means the marketing of goods across national boundaries. A flow diagram approach to export marketing is used, emphasising the decisions which must be made in the process of initiating export activity.