What are the typical steps in developing an export strategy for services?
Because potential international customers depend on recommendations and referrals, you are likely to be most successful in markets where you have strong contacts. Also, since you need to move quickly to take advantage of new market opportunities, you will need to keep modifying your strategy as conditions change and your network expands. Here are the typical steps needed when you initially develop your export strategy: • Define your export objectives and gain top management support. • Define your firms export-related strengths that you wish to leverage. • Identify three to five potential markets with customers that have needs similar to those your firm has already addressed successfully. • Identify contacts that your firm has in (or into) each of the potential markets (including satisfied customers, business colleagues, mentors, old school mates, relatives, friends). • Rank the potential markets based on the quality of contacts you have into each market. • Verify, through market resear
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