How to Develop Your Export Strategy
Developing an export strategy begins with three simple questions.
The first is deciding which market(s) you want to enter and think you will be successful in. This decision will be based on solid market research and the gathering of market intelligence.
The second question is when to enter. You essentially have two choices. You can either be a “first mover”, that is to be the first with your kind of product into that market, or be a market follower, that is to wait until others have entered the market and then follow them in and gain market share. The first mover decision is riskier, but you get to “set the bar” for all future competitors in key strategic areas such as pricing, distribution and marketing. It can help you to establish your product as the “brand name” product and give you a competitive edge.
The final question revolves around the issue of scale of entry. It is not so much a question of go big or go home, but rather one of figuring out which is the best market entry strategy to pursue.