Export Strategy
Export Strategy
To ensure your first venture into exporting is a success you must have an effective export plan. When developing your strategy you should use all available tools and techniques to establish best international trading practice. Some of the components that build a convincing and dynamic export plan are:
* commitment from senior management
* market research, including the identification of national standards or import restrictions
* adopting a professional approach to international trading, including a training programme for your export staff (both sales and marketing, and physical distribution)
* an export price that includes the additional costs of exporting
* your terms of trade, including delivery term and payment method
* selling in the local currency and invoicing in the local language
Your strategy should aim to get your product or service to the marketplace without involving any additional activity on your customer's part. Transparency of supply will assure your customer that:
* your product is as easy to acquire as those produced locally - good
* your product is more easily available - better
* your product is more readily delivered - even better
* your product is lower in cost - best
<strong>
Commitment</strong>
Successful exporters appreciate that winning new overseas customers can be a lengthy process. You will need a sustained effort to develop and maintain relationships, research markets and acquire the specialist skills necessary to trade internationally. Exporting must be viewed as a long-term commitment and not as a short-term "fix" for any domestic trading difficulties.
Planning is the key element of commitment. Once you have targeted a particular export market, the emphasis should be on acquiring a deep understanding of that market - how to conduct business, the requirements of potential customers, the competition and available channels of distribution. Using the resources of UK Trade & Investment (UKTI) (www.uktradeinvest.gov.uk (Link to an external site - Disclaimer External Link Icon)) together with the trade promotion work of other government departments and specialist trade service providers will help you to build an effective export strategy. UKTI can help you gain the necessary skills, identify the best opportunities, make the right introductions, and then help you turn them into real business. UKTI has International Trade Teams based throughout England. To locate your nearest team, please enter your postcode into the Local Office Database on the homepage of their website or call 020 7215 8000. If you are in Scotland, Wales or Northern Ireland, you will be given contact details for the appropriate national government agency.
<strong>Documents & Procedures</strong>
Export success requires you to master the international trade process, especially documentation. Using internationally agreed trade documents and training your staff to prepare them correctly will give you a competitive edge in overseas markets and improve the management of your credit and payment processes.
Tags
export plan delivery term export strategy ukti research markets export price channels of distribution specialist skills import restrictions available tools physical distribution first venture overseas customers management market professional approach export market trade investment term commitment invoicing sales and marketing
To ensure your first venture into exporting is a success you must have an effective export plan. When developing your strategy you should use all available tools and techniques to establish best international trading practice. Some of the components that build a convincing and dynamic export plan are:
* commitment from senior management
* market research, including the identification of national standards or import restrictions
* adopting a professional approach to international trading, including a training programme for your export staff (both sales and marketing, and physical distribution)
* an export price that includes the additional costs of exporting
* your terms of trade, including delivery term and payment method
* selling in the local currency and invoicing in the local language
Your strategy should aim to get your product or service to the marketplace without involving any additional activity on your customer's part. Transparency of supply will assure your customer that:
* your product is as easy to acquire as those produced locally - good
* your product is more easily available - better
* your product is more readily delivered - even better
* your product is lower in cost - best
<strong>
Commitment</strong>
Successful exporters appreciate that winning new overseas customers can be a lengthy process. You will need a sustained effort to develop and maintain relationships, research markets and acquire the specialist skills necessary to trade internationally. Exporting must be viewed as a long-term commitment and not as a short-term "fix" for any domestic trading difficulties.
Planning is the key element of commitment. Once you have targeted a particular export market, the emphasis should be on acquiring a deep understanding of that market - how to conduct business, the requirements of potential customers, the competition and available channels of distribution. Using the resources of UK Trade & Investment (UKTI) (www.uktradeinvest.gov.uk (Link to an external site - Disclaimer External Link Icon)) together with the trade promotion work of other government departments and specialist trade service providers will help you to build an effective export strategy. UKTI can help you gain the necessary skills, identify the best opportunities, make the right introductions, and then help you turn them into real business. UKTI has International Trade Teams based throughout England. To locate your nearest team, please enter your postcode into the Local Office Database on the homepage of their website or call 020 7215 8000. If you are in Scotland, Wales or Northern Ireland, you will be given contact details for the appropriate national government agency.
<strong>Documents & Procedures</strong>
Export success requires you to master the international trade process, especially documentation. Using internationally agreed trade documents and training your staff to prepare them correctly will give you a competitive edge in overseas markets and improve the management of your credit and payment processes.
Tags
export plan delivery term export strategy ukti research markets export price channels of distribution specialist skills import restrictions available tools physical distribution first venture overseas customers management market professional approach export market trade investment term commitment invoicing sales and marketing
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