Koinonia Ventures Limited - Resources - International / Export Marketing Management

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International / Export Marketing Management
by Olufemi Boyede, CEO, Koinonia Ventures Limited
at the MAN Training Course on Essentials of Strategic Marketing Management
Lagos, April 27, 2004

INTRODUCTION

Goals of Nigeria’s Export Economy
Increased products and services exports
Diversification of exports’ geographical markets
Increased earnings from exports
Increased participation of SMEs and SMIs in export
Professional and profitable exporting

NATURE OF INTERNATIONAL / EXPORT MARKETS

Highly competitive and professional
Various rules and regulations
Various forms of protectionism
Various forms of risks (currency, language standards, regulations, consumer preferences/peculiarities,etc)

NEED FOR ORGANISED ACTION PLANS FOR EXPORT MARKETS

A. EXPORT ENVIRONMENT AUDITING
Geographic market identification
Segmentation, selection and positioning e.g. EU market; specific country market, e.g. France; Specific market need e.g. textile & garment, sea products, etc
Profiling of targeted market (standard buying processes etc.
Gather information about specific markets from those who have experience in that market

B. PERFORM COMPANY’S EXPORT CAPABILITY ANALYSIS
How ready is your company for export?
Do you have the products, people, commitment, support services and documentation skills?

C. SEARCH FOR EXPORT ORDERS TO FILL OR RESPOND TO
Need professional journals, newspapers, Chambers of Commerce, Consultants Personal contacts, Internet

D. MARKETING MIX ENGINEERING
Adapt your products to market standards and specifications
Make price competitive
Adapt packaging to suit market taste
Produce necessary certifications for export certificates of origin, analysis, etc.
Hook up with supporting agencies involved in export

E.SET DOWN SPECIFIC EXPORT OBJECTIVES TO BE ACHIEVED
Volume/value objective per target market
Volume/value objective per target product
Value objective per export transaction
Operational quality objective
Operating profit/margin objective
Others

F. DEVELOP FEASIBLE MARKET ENTRY STRATEGIES
Using export marketing companies located in one’s country
Doing direct exporting to foreign importers
Exporting to a business office in a foreign market
Doing the actual production in foreign market while ordering the accessories from the home market

G. ACTION PLANS ARE NECESSARY
Identification critical logistics – transportation, documentation, containerization, payment terms and repatriation of proceeds

POST-EXPORT ACTIONS

Contact your importer and build customer relationship
Apply for export incentives on previous export
Contact an export incentive Consultant for assistance
Continue improvement of standards for more exports.

E-COMMERCE

Definition
Use of Internet Network
The www
Import and export documentations such as pro-forma invoice, Bill of Laden, Price list, Funds transfer can be provided electronically on the Internet
Peculiarities of the Nigerian situation

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