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What is Export ?
According to section 2(e) of foreign trade exchange act, 1992, the term export means,
“taking out of India any goods by land, sea, or air”.
Export Marketing Strategy -Determinati
on.
Selecting the product.
Identifying target market.
Quality and Standards.
Product capacity.
Understanding foreign
environment.
Pricing strategy.
Deciding method of exporting.
Selection of export personnel.
Timely deliveries.
Financial resources.
Export promotion.
Proper servicing of goods.
Features of Export Marketing:
Organized Process.Time consuming .Continuous activity.Needs, experience and preparation.Large scale operations.Customer focus.Advanced technology.Long term investment.
Need of export marketing:1.Foreign Exchange.
3.International Relations.
4.Employment Opportunities.
5.Economic Development.
2.Balance of payment.
1.DIRECT EXPORTING:Advantages: DISADVANTAGES:
Less time consuming. Cost benefits. First hand
information. Control. Reputation &
goodwill. No dependence on
middleman. Higher profits.
Higher risk. Higher Investment. Lack of specialization. Higher overheads. Not suitable for small
manufacturers. Vast knowledge.
Advantages:Less risk.Less investment.Specialization.Less overheads.Suitable to small
organization.Technical guidance.
Lower prices.Less or no
incentives.Second hand
information.Lack of direct
control.
2.INDIRECT EXPORTING:Disadvantages:
Internal Structure Of An Export Organization-
In-built export
department.
Independen-t export
department.
Export subsidiary in
importer’s country.
Export subsidiary in
exporter’s country
(Divided into 2 departments:
i)Domestic marketing.ii)Export
marketing.)
(Separate export
department and have
trained staff.)
(Undertaken when the
exports are on the large scale.)
(The branch is setup in the importer’s country.)
TYPES OF EXPORT MARKETING ORGANISATION IN INDIA-
1-Manufacturer Exporters: Undertake export
directly. Not dependent on
middleman. (eg:TATA group &
Birla.)
2-Merchant Exporter:
Do not manufacture the goods on their own.
Buys goods from manufacturer & exports them
3-Canalising Agencies:Done through specific government agencies such as – STC-(State Trading Corporation of India.) MMTC-(Metals & Minerals Corporation.) NAFED-(National Agricultural Co-operative Marketing Federation, etc.
4-Status Holder- They have been given a special status in the foreign trade policy, 2004-09. Given certain benefits & concessions by the government.
Functions of Export Marketing Organisation-
• Promote exports of small-scale industries.
• Product research.• Market research.• Product introduction.• Marketing functions.• Training facilities.