In his 2010 State of the Union address, U.S. President Barack Obama vowed to double U.S. exports by 2015. To this end, President Barack Obama created a National Export Initiative and established the President's Export Council

Question

What is meant by export marketing and export selling?

Answer 1

Export marketing is the integrated marketing of goods and services that are destined for customers in international markets. Export selling does not involve tailoring the product, the price, or the promotional material to suit the requirements of global markets. The only marketing mix that gets impacted is location or place. As companies mature in the global marketplace or as new competitors enter the market, export marketing becomes important. Export marketing targets the customer in the context of the total market environment. The export marketer does not simply take the domestic product "as is" and sell it to the international customers. The product offered in the home market is just the starting point. Based on the preferences of the international target markets, many modifications and adaptations are necessary. Also, the export marketer sets prices to fit the market and does not merely sell at the home-country price. There are several charges in export such as packaging, transportation, and financing that have to be taken into account, which in turn will have an impact on the prices charged in other markets. The price charged in one market may be completely different than the one that is charged in another country for the same product. The export marketing requires: (a) a thorough understanding of the target market environment; (b) the use of marketing research; (c) the identification of market potential; and (c) decision concerning product design, pricing, distribution and channels, advertising, and communication.