INTRODUCTION TO SALES PLANNING Meaning of Strategic Sales Planning Sales Planning is a key function in the procedure of sales management process. It is an effective process that involves strategy, sales forecasting, corresponding demand management, setting profit-based sales targets, the written and execution steps of a sales plan. Sales Planning is the process of organizing […]
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PROMOTION STRATEGIES Promotion and Communication The purpose of promotion is both to communicate with buyers and to influence them. Most promotional mistakes in international marketing are attributable to one or several of these steps not properly reflecting cultural influences or a general lack of knowledge about the target market. Information source – Is a marketer
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Export broker The function of an export broker is to bring a buyer and a seller together for a fee. The broker may be assigned some or all foreign markets in seeking a potential buyer. They negotiate the best terms for the seller (i.e., manufacturer) but cannot conclude the transaction without the principal’s approval of
Transfer Pricing Channels of distribution Companies use two principal channels of distribution when marketing abroad: Indirect selling, Direct selling. Direct selling is employed when a manufacturer develops an overseas channel. This channel requires that the manufacturer deal directly with a foreign party without going through an intermediary in the home country. The manufacturer must set
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PRICING STRATEGIES Price Standardization A study of the marketing mix by large US-based industrial firms in their Latin American businesses found that the degree of standardization varies across individual elements, with branding and product being least adapted. According to one study, most American multinational firms standardize their prices in most world markets because they are
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