I (Meaning and importance of Exports) Unit Structure

67) Post-shipment credit 
– 
Post-shipment credit refers to the credit provided to the 
exporter after the shipment of goods for meeting working capital 
requirements. It fulfils the shortage of finance between the date 
shipment and actual receipt of payment from the importer. 
68) Price Quotation 
– 
It refers to the terms and conditions agreed between the 
seller and the buyer. It provided the buyer‟s and seller‟s obligations. 
There are several price quotations such as FOB, C & F, CIF etc. 
69) Probe Pricing 
– 
It is a pricing strategy, where the exporter fixes a high price, 
when a new product is launched in the market. The main objective 
is to probe or judge the customers reactions towards the price. 
70) Product 
– 
According to Philip kotler 
–
Product is anything that can be offered to a market for 
attention, acquisition or consumption that might satisfy a want or 
need
71) Product Adaptation 
– 
Product adaptation refers to modifying the product as per the 
needs and requirements of the consumers in foreign markets. 
72) Product Life cycle 
– 
Products pass through a life cycle. Normally, the product 
passes through four phases or stages. They are a) Introduction 
stage b) Growth stage c) Maturity state and d) Decline stage. 
73) Product mix 
– 
It refers to a set of products offered for sale by a company. 
For example a product mix may consist of food items, footwear, 
fashion wear etc. 
74) Product Positioning 
– 
Product positioning defined as an effort aimed at creating 
and maintaining in the mind of target customers the intended image 
for the product or brand, relative to other brands so that they will 
perceive the product as possessing the attributes they want. 

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