ENTREPRENEURSHIP

Detailed explanation-1: -The key elements of marketing mix (product, price, promotion, and channels of distribution) are all the same as in the home market. Only the place or distribution is adjusted in export selling.

Detailed explanation-2: -An export marketing mix consists of the relationship between the internal and external forces which are related to the marketing of a particular product in an international market. Striking the right balance between these elements to form an effective marketing mix is key to establishing a successful marketing plan.

Detailed explanation-3: -The framework of export marketing comprises four main elements as follows: (a) company’s objectives on export markets, (b) controllable demand variables affecting ex-port markets, (c) company’s decision variables toward ex-port markets, (d) organisation and control of export marketing activities.

Detailed explanation-4: -"Export selling” involves tailoring various elements of the marketing mix to global market requirements. Research has shown that exporting is essentially a developmental process that can be divided into several stages.

Detailed explanation-5: -The terms “export selling” and"export marketing” are interchangeable. “Export selling” involves tailoringvarious elements of the marketing mix to global market requirements. Export marketing requires an understanding ofthe target market environment.