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Export and Import Management

In: Business and Management

Submitted By aprianr
Words 2110
Pages 9
Export and Import Management I. Research for Exports
When entering a culturally and linguistically different part of the world, managers need to understand a completely new way of commercial thinking that is based on a different culture and works on a different set of premises. The first step is to use available secondary data to research potential markets. The identification of an appropriate overseas market involves the following criteria: * Socioeconomic characteristics (e.g., demographic, economic, geographic, and climatic characteristics) * Political and legal characteristics * Consumer variables (e.g., lifestyle, preferences, culture, taste, purchase behavior, and purchase frequency) * Financial conditions
On the basis of these criteria, an exporter can form an idea of the market segments in a foreign market.

II. Export Market Segment

There would be geographical and psychographic segments in many different countries to which the firm can export the same core product it sells in domestic markets without any significant changes.
Products that can be standardized could satisfy basic needs that do not vary with climate, economic conditions, or culture. A standardized product is the easiest to sell abroad logistically because the firm incurs no additional manufacturing costs and is able to use the same promotional messages across different regions in different countries across the world. Where it is not possible to sell standardized products, the firm could need to adapt its products for the overseas marketplace. In such instances, either the firm’s product does not meet customer requirements or it does not satisfy the administrative requirements of foreign countries. Such markets can require modification of the product if it is to succeed in the foreign market. Brand names, for example, need to be changed before a product can be sold, because…...

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