Export plan, why do it?
Good morning everyone! In Venerable Capital marketing and distribution we focus part of our business on export, so we know better than anyone, how important is the design of the export plan. Today in our blog, we will discuss the steps and strategies to be carried out in order to obtain the most efficient export plan possible.
WHAT IS AN EXPORT PLAN
An export plan is a detailed document that describes a company’s strategy for entering a new foreign market and expanding its business internationally. The export plan focuses on the research, analysis and planning necessary to implement a successful export strategy.
The export plan is a critical tool for any company wishing to expand its international operations. By developing a sound export plan, companies can identify market opportunities and make informed decisions on how to enter those markets and compete successfully. They can also mitigate risks and set realistic and measurable goals for overseas success.
Creating an export plan can be a complex process that requires extensive research and detailed analysis of industry, market, legal and financial requirements. However, the benefits of a well-developed export plan can be significant to a company’s international growth and success.
WHY DEVELOP AN EXPORT PLAN
If we make an export plan, we will be able to determine the viability of our company to sell our products to other foreign countries. This would be the general reason, but there are other more specific aspects that lead us to draw up this roadmap for international trade.
- It facilitates the search for financing.
- A written document more clearly shows the weaknesses and strengths of a company.
- A written plan makes it easier to detect possible deviations from the plan, what the causes were, and what actions to take to correct the deviation.
- Putting the international project in a document allows clients to visualise the strategy, the organisation’s commitment and the benefits derived from the project.
- Staff can clearly understand what responsibilities are assigned to them, and what is required of them at any given time.
STRUCTURE OF THE PLAN
1. Executive summary
2. Export Plan
2.1. Situation analysis
– Product to be exported
– Benefits of the product
– Personnel and organisation
– Resources
– Sector structure, competition and demand
2.2. Target market
– Market statistics: history and projections
– Certification requirements
– Competitive environment
2.3. Marketing
– Target audience selection
– Price allocation
– Distribution methods
– Terms and conditions of sale
– Internal organisation
– Sales forecasts and targets
2.4. Export budget
– Provisional balance sheet
– Cash inflow/outflow forecasts
2.5. Timeline for implementation
– Toma de contacto con clientes potenciales
– Seguimiento de contactos
So much for today’s blog! If you are considering the possibility of trading with other countries, this blog gives you the basic keys to how and why an export plan is key to international trade. At Venerable Capital, marketing and distribution, we will be updating you with new news and interesting information about the export sector. Stay tuned to our blog!
