Whether they manage a large or small
company, all exporters face some common challenges: extreme competition, fast
change, cultural difference. The resources accessible to them will help
determine how they should respond to those challenges.
For small exporters, some of these
challenges can be solved by following (in a scaled-down form) the fashions of
larger businesses.
Indeed, small exporters can learn a great deal from the
international management experiences of larger businesses.
In other instances, challenges must be
addressed by establishing and managing partnerships, either with larger
businesses or with a network of suppliers.
Below are six strategies budding
exporters can consider if they want to defeat these challenges and ensure
success in international markets.
1. Niche Marketing
By their size, small exporters perform great
when they specialize.
Either they can employ a novel niche that has not been
noticed or addressed by other businesses, or they can distinguish their product
from others.
For example, let's consider an online
gallery and retailer of unique art. It trades in various kinds of paintings,
snaps shooting, printmaking, and other latest media. It also extends customers
the choice to order a custom work and hire an artist to create their dream
project straight through their website.
The website also provides people the chance
to design custom boards of their favorite works, view the favorites of others,
view suggested ideas to gift to others or use as décor, and maintain its blog.
You can learn more about untapped niches and how to
explore them in a successful manner by attending import export course in your near by area from good profile institutes.
2. Using Technology to Level
the Playing Field
Small exporters can also use the majority
of the technology accessible to larger businesses for interacting with
customers and handling logistics.
Small exporters can use high-level design,
construction and information technologies to have economies of scope.
Base
products can be easily tailored to suit the special tastes, conditions, and purposes
of each market.
This is the core idea of IT companies,
which uses digital marketing tactics to help SMEs build their presence on the
web.
In this example, advanced digital technology is both the medium through
which the business operates and the commodity that it offers its clients,
assisting them to adapt the Internet to their own business goals.
3. Becoming an Insider
Small exporters can grow “insiders” like
many big international companies.
One sure-fire way to do this is to make the
business reflect the markets that it intends to target: it can employ people
with origins in the target market or practical experience working there.
If it
already is established in the target market, it should locate local managers
with relevant skills and experience.
In both instances, the business can
benefit from their expertise and foreknowledge to enhance the way in which the
business deals with that market.
In some events, a business may even wish to
appoint nationals of vital strategic markets as corporate directors.
If the best people are hired, this approach
can increase credibility to the business in the target markets, present it with
a helpful sounding board when deciding its direction and strategies, and create
contacts in the particular government, supplier, and client circles.
4. Associations between Small
Exporters and Large Businesses
Both large and small businesses can reap
great benefits from an association.
Large businesses spend millions establishing
global distribution and marketing foundations, which are reliant on new and
innovative commodities.
Many small exporters identified by entrepreneurial
spirit are driving technology developers but require capital and market reach.
These diverse perspectives can create a
productive ground for partnerships that can take benefit of corresponding
skills.
Some businesses actively hunt for partners.
For example, a company has a separate program to locate partners who would
provide a range of services in which the business deals. Its website set out
the required qualities that it is looking for and inspires smaller exporters to
join.
5. Strengthening Supplier
Networks
When placing themselves in international
niche markets, smaller exporters must practice the most efficient and fertile
means possible.
One way of accomplishing this is to build their network of
reliable, cost-effective suppliers who themselves use excellent technologies.
By specializing, a manager can direct the
business on what it does competently.
Also, outsourcing from experts instead of
conduction all the operations in-house supports the manager to acquire better
quality services at cheaper cost, while directing multi-skilled workforce
toward new opportunities.
Effective outsourcing, however, also needs effort and
time on the part of the manager who must keep communication running, maintain
good working relationships and organize the supplier network.
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