Identify and discuss the various steps management must take to establish a successful export strategy.
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There are various steps or aspects that should be used to develop a successful export strategy. These are as follow:
Market Research: Management must conduct a market research to identify the whether the prospective customers need the products at the price firm have planned to sell in foreign market (Zou, Kim & Cavusgil, 2009). Along with this, management should also research about the extent of competition in the prospective foreign market, where it wants to export its products.
Implementation of export: Management must also execute the export strategy and assess the capabilities. It is vital for the management to judge the gains and benefits it would rip out from the export strategy (Exporting an Overview).
Export Plan Development: Under this step, management should define the entry strategy. Along with this, management is also needed to formulate human ...
The steps to a successful export strategy are examined. The various steps in management which must take to establish a successful export strategy is determined.