International Marketing Practices

export, often relying on consistent domestic income. Marginal costing often prices export products lower than those sold domestically to increase competitiveness.

It is anticipated that, within the next five years, Urbanwood Insights will have an established consumer base and effective operations overseas. To do so, budget planning justifies economic viability. Price calculation using cost-plus method , factors to consider:

Ex works price, manufacturers facility (wholesale) Transport to port Customs clearance Agent’s commission (5%) Free on Board (FOB) price, port of origin Sea shipment freight Sea shipping documentation, bill of lading (B/L) Marine insurance Cost, Insurance, Freight (CIF) price, port of destination Import duty (20% of CIF price) Custom clearance Delivery to customer’s warehouse Delivered Duty Paid (DDP) price, customer’s warehouse

Implementation and Control Tactics and actions outlined in the marketing plan are often implemented through the use of the McKinsey Seven S (7S) model, which considers structure, systems, shared values, skills, staff, style, and strategy [220, 224]. The marketing plan accounts for unforeseen changes and lets them unfold through implementation [94]. Urbanwood Insights will implement the marketing plan in fall 2019, allocating time to prepare all marketing materials and effectively enter the market using the following quarterly timeline: Activity 2019 2020 2021 1 2 3 4 1 2 3 4 1 2 3 4 Market research Promotion Channel setup

Export operations Adaptation; launch

93