Question

Subject: International Business Question: Once the potential exporter has established that there may be a market...

Subject: International Business

Question:
Once the potential exporter has established that there may be a market for the firm’s products, it’s time to _____

Homework Answers

Answer #1

The correct answer is "draft the export marketing plan".

Marketing plan is a part of business plan which consists of actions that describes the company's advertising and marketing strategies. It explains business activities that focus on meeting marketing objectives in set timeframe.

The characteristics of a marketing plan are:-

  • It provides marketing strategies to meet the goals and objectives of the organization.
  • Marketing plan should be based on valid facts and assumption.
  • It should focus on using existing resources.
  • Proper planning and guidelines to implement those plans by the organization.
  • It should be continuous.
  • It should be short, simple and understandable.
  • It should be flexible and adaptable to different situations.
  • It should specify performance standards so that it can monitored and controlled easily.
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