Question

2 Describe the steps and requirements to follow for a good export plan for a good product or service from your country of origin to Israel.

Answer 1

Steps and requirements to follow on an excellent export plan for an excellent product are as follows:

• Reviewing export potential: A few times should be considered to find out the realities of exporting standard and its implications on business.

• Developing an action plan: An action plan for the exporting standard should be developed that can clarify the aims and objectives of exporting.

• Researching and preparing for market visit: Market research is mainly required before exporting items. Market research reduces the risk factors associated with researching and planning.

• Exploring route for market entry: Routes should be created through agents, distributors, and franchisees to ensure market entry. The exporter should ensure availability of direct selling option, retain selling option, and subsidiary for future venture.

• Finding out options for selling and marketing products: Selling options should be identified to sell products overseas. There are several available options for selling products abroad using a unique product, price, and distribution strategy.

• Considering linguistic challenges: Most of the organizations face linguistic issues in the foreign market. Thus, companies must prepare themselves to counter linguistic challenges.

• Preparing for finance, payment, and risk: Factors that should be considered for risk management are commercial, political, and country. The payment issue, political turmoil, socio-economic disruption, change in the government, exchange rate, and inflation rate should be considered before exporting.

• Preparing protection for intellectual property: A legal action plan must be developed for protecting intellectual property in the foreign market to satisfy exporting needs.

• Preparing plans for order fulfilment: It is essential to address existing legislation that supports the order fulfilment plan for exporting. Trade terms and trade legislations should be considered before exporting products.

• Choosing a distribution method: It is the last phase of the exporting plan. The distribution channel should be set up that includes the level of demand and cost for the selection of a distribution channel.