The international marketing plan contents should include extensive market research, competitive analysis, specific target selection, overall and specific strategies, individual action plans for each target, and general operating budget and sales forecast. Mr. Portieles spoke extensively of Market Research. Extensive market research is absolutely essential to any company involved with exporting. Research should provide indispensable information, including the largest and fastest-growing markets for the products in question, market trends and outlooks, market considerations and practices, and competitive information on firms and products. Primary research involves dynamic, active sources such as trade associations, and companies in the industry.
Secondary research involves passive, statistical sources.
Further, the product itself needs to be assessed. Environmental Factors Environmental factors also need to be assessed. These include government regulations, the political climate of the area in question, socio-economic factors, infrastructure, distribution channels, market size, competition, distance, and language. As important as market research is, there is no substitute for experience. Finally, Market Entry itself was discussed.