International Marketing Practices

This section also summarizes how to monitor and measure outcomes of the marketing plan to determine effectiveness and adapt as needed [224]. This will require standards and performance measurements, often evaluating based on sales volume, sales value, or marketing contribution [220, 224]. Short-term controls include annual plan control (quota compared with sales), profitability control, and efficiency control; long-term controls largely consist of audits [94]. The plan is also monitored and reviewed to identify potential modifications, such as changes with regard to the political or economic environments [222]. Finally, a contingency plan should be formulated to outline proper responses to contingency events [224]. Appendices Additional resources used to compose the marketing plan are often placed in the appendices to consolidate information. Resources can include market research tools and results, situational analysis, SWOT analysis, evaluation of alternative marketing strategies, and additional promotional materials. Chapter Questions 1. Do you have an established domestic marketing plan? 2. Have you considered a country of interest for international export? 3. What objectives are you looking to achieve through export? 4. How will you go about achieving your objectives through various marketing mix strategies, including product, price, place (distribution), and promotion? 5. How will you monitor and control the outcomes of implementing your plan?

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