November 28, 2020

International Marketing Strategies for the Export business

International Marketing is the activity to promote the goods and services of a foreign country from the products origin country to buyers in the global market. To do international marketing, a firm needs to understand the requirements of servicing country with the global standard. To frame a strategy for International Marketing, first an exporting business should know how to make your products familiar in a foreign country. It also covers the challenges and the opportunities, a marketing person face while doing international trade. To make the goods and services available in the global market, effective tools and techniques needs to be adopted.

Marketing Strategies for Export Business

There are various other factors on which the marketing strategies depend including the political factors of the country, economic factors, technological factors and the security regulations followed by the country. To make the goods and services competitive in the global market, a planned marketing strategy needs to be implemented effectively.

International trade comprises of export and import. Export is the selling of goods and services in any other country and import is the buying of goods and services from outside the country. Marketing helps to understand the customer’s expectations and employees understanding of the quality of goods and services for the export. Marketing strategy deals with exporting company, consumers, competition.

The following marketing strategies are used by exporting businesses in the global market.

Use of Social Media:-

Social Media platforms like Facebook, Instagram, LinkedIn can be used as an effective marketing tool for business growth. By creating a business profile on these platforms, an exporting firm can establish communication with prospective customers. The relevant post on these platforms can be related to goods and services offered by the company and can be utilized as a channel to promote the business.

Use of SEO:-

SEO is (Search Engine Optimization) the process to improve your website to increase the visibility for relevant searches. SEO is one type of digital marketing. SEO is used in the business to rank higher on Google. On Google, people search for the keyword and Google directs them to the website according to ranking and by the Search Engine Optimization (SEO).

Export Promotional Council:-

Export Promotion councils are the Government authorities which promote the export in foreign countries and supports the firm involved in exporting.

Export Promotion Council’s role:-

Export Promotion Scheme promotes the exports by creating awareness among exporters about the Government schemes to save on customs duty. Under EPCG Scheme, a license is issued to save the duties on the machinery with the condition of export obligation. To fulfil the EO exports, performance should be achieved six times of duty saved amount in six years. There are two types of export obligation – Average export obligation (AEO) and Specific export obligation (SEO).

Government Schemes:-

The government launched a Marketing Assistance Scheme to improve the marketing capabilities and competitiveness of the MSMEs. To aware them about the current scenario of the Market, Connect the firm with the buyers of goods and services. Under Advance Authorisation Scheme raw materials can be imported duty-free to manufacture the export products.

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