Beginner's Guide to Exporting. 4th Edition.

7 Beginner’s Guide To Exporting 3.2.2 SWOT Analysis The key elements in Export Marketing Plan can be guided by the SWOT analysis approach. The aim of a SWOT analysis is to identify the key internal (Strengths and Weaknesses) and external factors (Opportunities and Threats) that are important in preparing the export marketing plan. Competition from low cost producing countries Non-Tariff Barriers Stringent standards and requirements Technology disadvantage against other countries •Strong company resources •High product potential •Coordinated 4Ps and 4Cs to develop marketing strategy. MATRADE and other industry promotion organisations as an enabler Malaysia’s export requirement is simplified and friendly Government incentives (local and foreign countries) Leveraging on FTAs •Low product potential / quality •Difficult market assessability and •Inadequate advertising and promotional (A&P) budget. S T R E N G T H S W E A K N E S S E S O P P O R T U N I T I E S T H R E A T S Strengths • Strong company resources • High product potential • Coordinated 4Ps and 4Cs to develop marketing strategy Notes: 4Ps: Price, Product, Promotion and Place 4Cs: Consumer, Cost, Communication and Convenience Weaknesses • Low product potential / quality • Difficult market accessibility and • Inadequate advertising and promotional (A&P) budget DEVELOPINGYOUR EXPORT PLAN CHAPTER 3