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Step 8: Preparing your export plan

You are here:Step 8: Preparing your export plan > Preparing an export marketing strategy for your firm > The export product >Product modification > Factors favouring product standardisation



Factors favouring product standardisation


IThe following are the factors that favour product standardisation:

  • Economies of scale in production: Where the product is manufactured at one plant, long production runs can give rise to considerable economies of scale (assuming that the decreasing costs per unit will prevail over the full extent of output required to satisfy export markets).
  • Economies in development costs: A standardised product permits amortisation of development costs over a larger production volumes and turnover
  • Reduction in stock costs: Additional products give rise to the need for additional records and stock audits. Furthermore, each product must be stocked to a level that not only caters for normal demand but also includes a safety margin to cover unexpected upsurges in demand. Consequently, the minimum 'safe' stock level for several different products will exceed that for one standard product.
  • Technological content: Whereas consumer products are likely to be affected by cultural and environmental differences in the foreign market, industrial processes are relatively uniform from one country to another and many industrial products can therefore be standardised, especially those in which technical specifications are critical. Even when industrial goods are modified, the changes are likely to be minor, e.g. adjustments may have to be made to the voltage level, or metric measures (metres, grams and litres) may have to be changed to imperial measures (yards, pounds and gallons), etc.
  • Consumer mobility: Standardisation is essential to consumer acceptance where products are of particular relevance to travellers or tourists, e.g. camera film, baby foods, etc.
  • Economies in marketing: Although sales literature and advertising may vary from country to country - at least in terms of the language in which the advertising message is conveyed - it will be easier to achieve uniformity (and thus, savings) with a standardised product than with one which must be adapted to suit various foreign markets. In addition, it is easier for the company to provide after-sales service and parts for a standardised product.
  • Market homogeneity: Some products are homogenous and a world market is available without product modifications being necessary, e.g. blue jeans, CDs, raw materials, etc.


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Step 8: more information

Step 8: Preparing your export plan
      Synopsis of research already done
      Revisiting an export SWOT analysis of the firm
      Setting the export objectives of the firm
      Preparing an export marketing strategy for your firm
                  The export product
                        Product modification - adaptation vs standardisation
                              .Factors favouring product adaptation
                              .Mandatory product modifications
                              .Evaluating the need for product modification
                        New product development
                        Eliminating obsolete products
                        Product quality and design
                        Improving the production process
                        Packaging for exports
                        Labelling for exports
                        Product b rands and trademarks
                        Product servicing
                  The export price
                  Export promotion
                  Export distribution
      Preparing an export budget for your firm
      Outlining an implementation schedule for your export activities
      Preparing and presenting your export plan
      Obtaining approval for your export plan


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More information on Step 8
Learning to export...
The export process in 21 easy steps
Step 1: Considering exporting
Step 2:Current business viability
Step 3:Export readiness
Step 4:Broad mission statement and initial budget
Step 5:Confirming management's commitment to exports
Step 6: Undertaking an initial SWOT analysis of the firm
Step 7:Selecting and researching potential countries abroad
Step 8: Preparing and implementing your export plan
Step 9: Obtaining financing for your exports
Step 10: Managing your export risk
Step 11: Promoting the firm and its products abroad
Step 12: Negotiating and quoting in exports
Step 13: Revising your export costings and price
Step 14: Obtaining the export order
Step 15: Producing the goods
Step 16: Handling the export logistics
Step 17: Export documentation
Step 18: Providing follow-up support
Step 19: Getting paid
Step 20: Reviewing and improving the export process
Step 21: Export Management
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