I (Meaning and importance of Exports) Unit Structure

(j) Specialization 
It requires concentration on both 
marketing 
and 
production 
aspects and as such lacks 
specialization. 
In 
indirect 
marketing, 
the 
manufacturer can specialize in 
manufacturing aspects. 
(k) Suitability 
This strategy is suitable for the 
large business houses having 
huge financial and physical 
resources. 
This strategy is suitable for 
small businessmen as they may 
find it difficult to export directly.
5.12 SUMMARY
Preliminaries for starting Export business includes overseas 
market research, Identifying proper foreign market, proper 
production to export, proper method to entry in foreign market,
proper method for exporting etc. 

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Export marketing needs marketing research for knowing the 
consumers needs and wants, details about promotional campaigns, 
taking competitive advantages, taking appropriate pricing decision, 
selecting effective channel of distribution, taking proper packaging 
decision, forecasting sales etc. 
Foreign market selection process includes: Determining 
export marketing objectives, collection of relevant information, 
analysis of the collected information, Short listing of markets, 
Detailed analysis of certain markets, Evaluation and selection of 
markets, making necessary arrangements to enter in the overseas 
markets, Undertaking a review of the performance in the overseas 
markets etc. 
Certain factors influence n selection of Foreign Market. 
These factors are: Competition, Demand, Import Regulations, Size 
of Market, Distribution network, After-sale- services, Higher 
productivity, Social responsibility, Political stability, Location etc. 
Product planning means decisions related to product it 
means product planning strategies. Various product planning 
strategies are: Product design strategies, Pricing Strategies, 
Distribution strategies, Promotion Strategies, After-sale services 
strategies, Product positioning strategies, product line strategy etc. 
New product development is a scientific process. This 
process includes the steps like: Idea generation, Analyzing the 
ideas, Short- listing the ideas, Investigation, Selection of best idea, 
Product development, Test marketing, Commercialization, Review 
of Product performance, Changes in Marketing mix etc. 
There are various methods to enter in the overseas market 
exporter have to select proper method. Some of the important 
methods are: Direct exporting, Indirect exporting, Joint venture, 
Franchising strategy, One country production base, Licensing, 
Contract manufacturing, Acquisition, Turnkey contracts, Green-
Field development etc. 
Direct and indirect exporting are the basic methods of 
exporting.