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Create A Great International Marketing Plan

• Posted by Sammy in Trade knowledge
• 2008, January 25th

Tag : customers, marketing, products, service

Part 1: Successful Exporting From Canada Starts With A Marketing Plan

Businesses all over Canada have the potential to successfully export their products or services. Every entrepreneur, regardless of business size or offering, can potentially increase sales, compete in diverse markets and reach a global audience with his or her particular skills and expertise. One of the key components for export success is an international marketing plan.

Many Canadian businesses operating solely in the domestic market have a reasonable understanding of the needs of customers and potential customers. These businesses are generally familiar with the marketing tools at their disposal to reach their target audience. They know how much it costs to use these tools and they have specific objectives in mind when they implement their marketing strategies. Once these businesses start looking beyond the border, however, many of the assumptions about marketing are no longer valid.

A new marketing plan is required.

The best place to start the international marketing plan is with the business. Take a fresh look at what the business is about: what products or services does it offer? Why is it unique and what value does it offer customers? What are its current strengths and weaknesses (financial, human, technological, cultural and operational resources, for example) and how will these affect its ability to compete in a foreign market?

Once this self-analysis is completed, the reasons for exporting need to be addressed. Such simple questions as "why do we want to export?" are not necessarily simple to answer but the responses are important. A business must have a clear objective of why it wishes to undertake the challenge of exporting. It also helps a business establish the degree to which exporting influences the business direction and strategy.

In some cases, exporting may play an important yet secondary role based on the objectives of the business. In other instances, a business may find that its future is built upon exporting and this element of the business will become the primary focus. These decisions are simplified by conducting thorough market research.

Continue on to the next page to learn how to use market research to get your successful international marketing plan under way.

Part 2: The International Marketing Plan Continued

Market research is critical to the decision-making process in a marketing plan. Research reveals the market or markets that offer the best opportunities for investment. It reveals the political, legal and regulatory, financial, cultural, competitive, consumer and marketing challenges that a business may face as it considers exporting to a particular destination.

Without market research, a business is guessing at the best place to take its products or services. Careful analysis of market research leads to useful decisions regarding the nature of a market and potential customers: why would they buy this product or service? How much would they pay for it? What changes, if any, do we need to make in order to appeal to customers? What is the best marketing vehicle to reach buyers? Confident answers to these questions help form the next critical element of an international marketing plan: the market entry strategies.

In short, these are the things a business does to get its product or service into the target market.

For example, research has revealed the potential opportunities and threats in the business and political environment. What strategies will maximize these opportunities while reducing or eliminating possible threats?

Research has identified the sales and distribution channels typically used by similar businesses in the target market. How can these channels be accessed and successfully incorporated into the market entry? What types of messages will speak clearly to the target audience? Which marketing techniques work, which ones do not, and why? What type of product positioning or messages about the service will establish the strongest foothold?

The final component of a great international marketing plan is the implementation. The company is ready to export - almost. In order to implement the plan, someone must be responsible for its implementation.

This individual must have decision-making authority, adequate resources to turn the plan into reality and intimate involvement in the international marketing planning process from the beginning. This person is confident that the company is committed to the export effort, that marketing support is available both at home and in the target market, key partners are in place, professionally developed promotional materials specific to the needs of the new market are ready and measures are in place to monitor and analyze the export effort.

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