In New Zealand Trade and Enterprise’s Export News of 26 May 2010, Christchurch, New Zealand marketing and strategy development company Concentrate shares expertise on what makes an effective export marketing plan.
Critical to the message is that thorough investigations into the target market is needed to ensure that the resulting marketing plan fits the business culture and environment where the investment is being made. Assumptions aren’t enough, irrespective of business experience in the internal or other existing markets.
An account of any modifications needed to ensure that the product or services are acceptable in the market.
Let’s Go Further
A market analysis. This should cover aspects of the broader political and socioeconomic matters in the target country and the specific customer profile.
and, to add to that…
An analysis of the competition operating in the target market, and how the product/service will compete.
Thought Provoking Discussion on Marketing
A marketing strategy outline. Entering the market, working with partners, a process for promoting the good or service.
Exporting with success is a much more complex activity than conducting business in a local market that is familiar. There are greater challenges and obstacles that need to be identified at an earlier stage in the feasibility process. In developing an export marketing plan, businesses needs to also cover such things as the paperwork and payment process, intellectual property protection, regulatory matters, and the practicalities of customer support.
Marketing a corporation, company, or business can be rather a challenge. There are a lot of considerations you need to look as and possibilities you need to think of. Also, you need to be creative in your publicity and advertorials.
The export market is foreign. There are cultural issues to resolve and there may be flaws in the business’s knowledge base that require the establishment of new skills and expertise.
As part of the link-building process it is essential that a true commitment is shown to the export market. If dealing in a market with another language, business cards should be bilingual. A website registered with a domain name in the country being targeted is an advantage. E-commerce functionality will be a consideration.
All marketing material should be professionally produced and translated or reviewed by a native speaker. This includes relevant webpages. Proper language use will verify that the target market can understand and refer to the message. Social media may be appropriate for promotion. If so it’s important that they’re used judiciously and with professional commitment.