Unit 2

Identifying and selecting foreign market

Q1) Explain the market selection process?

A1) Selectivity is the key to success in all spheres of life including export marketing. An exporter may wish to deal in all kind of products and to sell them anywhere in the world. However, it is not possible for him to do so due to the wide expanse and demand variations in different markets of the world. Therefore, an exporter has to select proper products and proper markets in order to operate at the international level.

The market selection process is as follows:

(a)              Determine export marketing objectives The exporter must first determine export marketing objectives in terms of product development, profit, sales, share of market etc; both form short term and long term point of view. The objectives are set taking into account the financial and managerial resources of the firm.

(b)             Collection of information: The exporter must collect relevant information from the overseas markets. The information may be in respect of demand for the product, competition, nature of consumers, political situation, import regulations, infrastructure facilities etc.

(c)              Analysis of information: The exporter has to analyze the collected information in respect of overseas markets. Such analysis is required to shortlist the over seas markets. For example, the exporter has to analyze the like and dislikes of the buyers, the purchasing power, buying pattern etc.

(d)             Short listing of markets A detailed investigation of the markets will help the exporter to short list the countries which may be considered for export purpose. The main objective of short listing is to arrive at a list of few counties which are likely to influence the selection decision.

(e)              Detailed investigation: The exporter may conduct a detailed analysis of certain markets. He may collect necessary information in respect of various factors such as the nature of the customers, the nature and degree of competition, the present and potential demand for the product the trade polices of the government and soil. The information can be collected from primary sources as well as form secondary sources.

(f)                Evaluation and selection of markets: The company has to eliminate countries where trade or investment barriers prohibit probable market entry. These barriers would include Tariffs Quotas, Foreign Exchange Regulations etc. The exporter may select only those countries or markets, which would provide a good rate of return for its investment.

(g)             Entry in overseas markets: The exporter then makes necessary arrangements to enter in the overseas markets. He may appoint the required sales people, and intermediaries. He should complete all other formalities regarding the entry in overseas markets. He would then produce the goods as per the requirements of overseas buyers.

(h)              Follow-up The exporter should undertake a review of the performance in the overseas markets. Such review would enable the exporter to know which markets are performing well, and which one are not. He would then find out the reasons for the same, and if there are problem, he would try to resolve such problems, or exit from such markets that do not provide good potential.

Q2) Explain factors influencing selection of foreign market?

A2)

The exporter must consider certain factors to select the appropriate foreign markets. The factors that influence the selection of foreign markets include the following:

(a)  Competition -The exporter must consider the degree of competition in the overseas markets. Nowadays, due to globalization, there is high degree of competition in the overseas markets. In the ultimate analysis the price factor is very important. The selling price as related to competition and quality is a very important factor. It is not only the existing competition but the potential new competition has also to be assessed properly.

(b)  Demand -One has to determine the demand of the product in the foreign market. Based on the present demand and the suppliers already there, whether one more competitors would be able to get a reasonable market share is the crucial point to be decided. The perceived durability how long will be the demand persists, and whether there are any patent laws or public laws of the country present or imminent has also to be looked in to.

(c)  Import Regulations -The exporter must consider the import regulations including custom formalities while considering the selection of overseas markets. If there are too many formalities and regulations, the exporter may avoid such markets. This is because; lot of money, effort and time is wasted in following the formalities and regulations in the importing country.

(d)  Size of the Market - Selection of a product also depends on the markets which have been identified for sales abroad. All products may not have equally good markets everywhere; therefore, selection of the product depends upon the market requirements. It is always better to concentrate on one or two markets as least to start with. One should study the target markets closely, with regard to market requirements in terms of product specification continuity of demand, change in fashion, credit requirement etc.

(e)  Distribution Network- There is need for efficient distribution network in the overseas markets. The distribution network includes agents and dealers and other agencies that support the distribution such as transportation services, banking facilities, insurance services, warehousing facilities etc, markets that offer good distribution network reduces the burden on the exporter and therefore, the exporter may select such markets for exporting.

(f)    After-Sale-Service- If the product selected for export is such that it requires servicing after sales, then the exporter should see to it that he can avail such facilities to the overseas buyers. It is not always easy and within one’s means to open servicing centers abroad. At the same time, it is difficult to find a distributor or agent having servicing facilities. If it is not possible for the exporters to provide such servicing facilities then the exporter should not venture to export such products.

(g)  Higher Productivity - An export firm can benefit from the economies of large scale operations. Higher productivity is a must in the competitive market. Export firms spend a lot on research and development in order to absorb the increased production. As the domestic markets have limited capacity the exports become unavailable.

(h)  Social Responsibility- Some business houses are committed to exports. They have build up their image in domestic as well as in overseas markets. They take up export activity to meet social responsibility of strengthening foreign exchange reserve of the nation.

(i)    Political Stability - Exporters need to look into the political stability factor before selection of overseas markets. Exporters may ignore those markets, where there is lot of political instability. Due to political instability, there is change of governments or the government may find it difficult to adopt stable foreign trade policies. This creates risks and uncertainties for the exporters. Exporters may select those markets, where there good degree of political stability.

(j)    Reducing Business Risk- A diversified business helps the export firm in spreading the risk in several export markets. When a firm is selling its product in a number of markets, a downward trend in a market may be counter balanced by a rise in sales in the overseas markets.

(k) Location- The exporters may consider the location factor in selection of overseas markets. Normally distant location markets need to be avoided as there are high transportation, and delays in deliveries, and other problems.

Q3) Explain foreign market entry mode?

A3) Exporting

Many manufacturing firms begin their global expansion as exporters and only later switch to another mode for serving a foreign market. Exporting has two distinct advantages. First, it avoids the costs of establishing manufacturing operations in the host country. Second, exporting may help a firm achieve experience curve and location economies. By manufacturing the product in a centralised location and exporting it to other national markets, the firm may realise substantial scale economies from its global sales volume. This is how Sony came to dominate the global TV market, Matsushita (Panasonic brand) came to dominate VCR market, and Samsung gained market share in computer chips.

A firm has the following two basic options in carrying out its export operations: (1) direct exporting (2) Indirect exporting.

(1)  Direct exporting

When a manufacturing firm itself performs the task of selling goods abroad rather than entrusting it to any outside agency it is called direct exporting. Usually a home based export/ international marketing department in the firm is given responsibility for selling abroad. The exporting firm may also establish its own sales subsidiary as an alternative mode. When a manufacturer engages in direct export, he takes more risks but gets more returns. More than anything else, direct export means more involvement for the manufacturer, more control and more expertise within the firm.

A company can carry direct export in many ways:

(a) Domestic based export department or division: An export sales manager, supporting sales staff, with some clerical assistants carry on actual selling and draw on marketing assistance as needed. It might evolve into a self-contained export department or sales subsidiary carrying out all the activities involved in export and possibly operating as a profit centre.

(b) Travelling Export Sales Representatives: The company can send home-based sales representatives abroad at certain times to find and promote business.

(c) Foreign based Sales Branch or Subsidiary: An overseas sales branch allows the manufacturer to achieve greater presence and programmed control in the foreign market. The sales branch handles sales distribution and may handle warehousing and promotion as well. It also serves as a display and customer service centre.

(d) Foreign Based Distributor or Agents: Foreign based distributor would buy and own the goods. Foreign-based agent would sell the goods on behalf of the company. They may be given exclusive right to represent the company in that country or only general rights.

(2) Indirect Exporting

When a firm delegates the task of selling goods abroad to an outside agency, it is called indirect exporting. Markets can be contacted through a domestically located middleman (located in the exporter country of operation). Several types of middlemen located in the domestic market assists a manufacturer in contacting foreign buyers. The major advantage of using a middleman lies in the middleman's knowledge of foreign market conditions and avoidance of problems connected with export procedures and documentation or leaving the manufacturer to concentrate on production. For small companies with little or no experience in exporting, the use of a domestic middleman readily provides expertise. The most common types of middlemen are merchant exporter, export house, trading house, and buying house of overseas firms located in the manufacturer's country.

In the case of indirect exporting, a firm can use a variety of middlemen who operate in the international markets.

(a) Domestic Based Export Merchant: The middlemen buy the manufacturer’s product and sell it abroad on his own account.

(b) Domestic Based Export Agent: The agent simple agrees to seek and negotiates with foreign buyers for a commission. He may also render certain services but does not take title to the product. Trading companies are also included in this group.

(c) Resident Agent/ Representatives of Foreign Buyers: Who buys in the exporting country on behalf of importers abroad.

(d) Co- operative Marketing Organisation: A cooperative organization carries on the exporting activities of its members and may be partly under their control. This form is used usually by producers of primary products, fruits, vegetables, nuts, and so on.

(e) Combination Export Manager: Who acts as an overseas selling agent for a number of companies and practically acts as the “Export Department” for the firms it represents.

(f) Export Management Companies: These types of companies manage a company’s export activities for a fee.

Q4) What is direct exporting?

A4) When a manufacturing firm itself performs the task of selling goods abroad rather than entrusting it to any outside agency it is called direct exporting. Usually a home based export/ international marketing department in the firm is given responsibility for selling abroad. The exporting firm may also establish its own sales subsidiary as an alternative mode. When a manufacturer engages in direct export, he takes more risks but gets more returns. More than anything else, direct export means more involvement for the manufacturer, more control and more expertise within the firm.

A company can carry direct export in many ways:

(a) Domestic based export department or division: An export sales manager, supporting sales staff, with some clerical assistants carry on actual selling and draw on marketing assistance as needed. It might evolve into a self-contained export department or sales subsidiary carrying out all the activities involved in export and possibly operating as a profit centre.

(b) Travelling Export Sales Representatives: The company can send home-based sales representatives abroad at certain times to find and promote business.

(c) Foreign based Sales Branch or Subsidiary: An overseas sales branch allows the manufacturer to achieve greater presence and programmed control in the foreign market. The sales branch handles sales distribution and may handle warehousing and promotion as well. It also serves as a display and customer service centre.

(d) Foreign Based Distributor or Agents: Foreign based distributor would buy and own the goods. Foreign-based agent would sell the goods on behalf of the company. They may be given exclusive right to represent the company in that country or only general rights.

Q5) What is indirect exporting?

A5) When a firm delegates the task of selling goods abroad to an outside agency, it is called indirect exporting. Markets can be contacted through a domestically located middleman (located in the exporter country of operation). Several types of middlemen located in the domestic market assists a manufacturer in contacting foreign buyers. The major advantage of using a middleman lies in the middleman's knowledge of foreign market conditions and avoidance of problems connected with export procedures and documentation or leaving the manufacturer to concentrate on production. For small companies with little or no experience in exporting, the use of a domestic middleman readily provides expertise. The most common types of middlemen are merchant exporter, export house, trading house, and buying house of overseas firms located in the manufacturer's country.

In the case of indirect exporting, a firm can use a variety of middlemen who operate in the international markets.

(a) Domestic Based Export Merchant: The middlemen buy the manufacturer’s product and sell it abroad on his own account.

(b) Domestic Based Export Agent: The agent simple agrees to seek and negotiates with foreign buyers for a commission. He may also render certain services but does not take title to the product. Trading companies are also included in this group.

(c) Resident Agent/ Representatives of Foreign Buyers: Who buys in the exporting country on behalf of importers abroad.

(d) Co- operative Marketing Organisation: A cooperative organization carries on the exporting activities of its members and may be partly under their control. This form is used usually by producers of primary products, fruits, vegetables, nuts, and so on.

(e) Combination Export Manager: Who acts as an overseas selling agent for a number of companies and practically acts as the “Export Department” for the firms it represents.

(f) Export Management Companies: These types of companies manage a company’s export activities for a fee.

Q6) Explain product designing?

A6) Product designing

Exporters have the following options in respect of product design strategies.

1. Product Innovation Strategy- Under this strategy, the exporter develops a new product in response to the demand prevailing in overseas markets. Low cost items for developing countries and high cost items for developed countries may be developed for example readymade garments to take advantage of fashion in different countries.
2. Product Adaptation Strategy- Under this strategy, both the product and the message are changed to increase the adaptability of the product. This helps to meet the specific needs of the foreign buyers. Products like office machines, health goods, and electrical goods require this strategy. It is a costly strategy. It is generally used to serve large size markets.
3. Product Standardization Strategy- Under this strategy, the exporter sells the same product all over the world with “One product, One message-worldwide”. For example Coca-cola, Sony etc. The exporters use this strategy when their product is too well known and enjoys global reputation. It is an economical strategy. This is because it does not require any modification. Moreover, it enjoys the economies of large-scale production and marketing.

Q7) What is the difference between adaption and standardization?

A7)

Q8) Define packaging?

A8) Packaging is one of the most important functions in marketing. The task of keeping any product in container, carton, or wrapping in, binding with, or keeping in boxes etc. for freshness and protection of products is called packing. But packaging does not mean only this task. Packaging has broad meaning.

Q9) What is the role and function of packaging?

A9) Packaging is one of the most important functions in marketing. The task of keeping any product in container, carton, or wrapping in, binding with, or keeping in boxes etc. for freshness and protection of products is called packing. But packaging does not mean only this task. Packaging has broad meaning.

Role and functions of Packaging:

1. Containment

To provide proper and safe container or place for keeping any product is an important function of packaging. The functions of designing, producing and providing containers, boxes, packets, bottles, paper, or paper-bags, or plastic bags etc. according to the nature of products to put them include in packaging. Suitable kind of containers or boxes are used according to the nature of products for transporting or keeping them in warehouse or in showroom.

2. Protection

The main or important function and objective of packaging is to keep the products safe and fresh. Packaging helps to protect products from the possibility of loss, damage, decline in quantity and quality, color, size, etc. that may be caused by sun, rain, dust, insect, air and so on. The products are packed in proper materials to carry them from one place to another in right condition. Some cases, package increases the life span of the products. Glass made goods, food products and many other goods can be kept safe from crack and break, damage, decaying, adulteration etc. by packaging.

3. Identification

Packaging gives short introduction of different kinds of products and their producers. Every producer or middlemen select color, size, design of container or box, and package their products in a way that they look different from competitors' products. This makes customers easy to identify the same-nature products of different firms. The customers can recognize and may buy the products of their favorite company or brand as soon as see the package. Mostly, information such as name of the product, name of manufacturing company, ingredients used i product, weight, quality of the product, its using method are printed or written on the package.

4. Promotion

The other important objective and function of packaging is to promote sales of the product. If the product has been packaged in attractive material nicely, it plays important role in sales promotion. Attractive packaging draws attention of customers, stimulates their interest toward the product and motivates them to buy.

5. Prestige

The other function of packaging is to create brand prestige of product. A quality product properly packaged in good material becomes prestigious. Even though the product is good in quality, but its packaging is not attractive, customers' attitude becomes negative towards the product itself. So, packaging is an important function of the firm to increase reputation and prestige.

Q10) What is branding?

A10) A brand is a name, term, plan, image, or whatever other component that recognizes one vender's acceptable or administration as particular from those of different dealers. You can consider a brand as the thought or picture individuals have at the top of the priority list when pondering explicit products, administrations and exercises of an organization, both in a pragmatic (for example "the shoe is light-weight") and passionate way (for example "the shoe causes me to feel amazing"). It is thusly not simply the actual highlights that make a brand yet in addition the emotions that shoppers create towards the organization or its product. This mix of physical and enthusiastic signs is set off when presented to the name, the logo, the visual personality, or even the message imparted. A product can be effectively duplicated by different parts in a market, yet a brand will consistently be extraordinary. For example, Pepsi and Coca-Cola taste fundamentally the same as, anyway for reasons unknown, a few people feel more associated with Coca-Cola, others to Pepsi.

Roles & Importance of Branding

Roles

•  The Role of Branding in Business Marketing.

•  With any new business, building up your foot on the lookout and to your intended interest group is vital.

•  With this early issue, you should actualize exhaustive and well-strategized branding for your business.

•  Building your image around your products or administrations is effortlessly done on the off chance that you have foundation information and examination.

•  It tends to be an enormous issue in the event that you don't have any data on the best way to do it.

•  In this sort of occurrence, it is ideal to employ specialists who are knowledgeable about the part of branding to assist you with working out the methodology.

•  Branding isn't generally the most basic factor to make your business a triumph; however a solid brand personality can make numerous favorable circumstances for your business.

•  Branding is a marketing practice that an organization displays in making its name, image or logo, and by and large plan that is promptly recognizable as the organization itself.

•  It gives your business its attributes and persona.

•  It likewise assists with speaking to what you offer as a business, what you sell, and how unique you are from different products or administrations.

•  Your image resembles the public face and character of your organization.

•  Branding isn't restricted to logos, plans, and friends shading palette.

•  It likewise incorporates each part that finishes your business – from shading mixes and typography styles to the packaging of your products and the general introduction of the organization when in a pitch introduction.

•  It covers all that you present as a business.

•  Branding is the actual picture and character of who you are as a business and how you focus to be perceived.

Q11) What is the role of branding?

A11) A brand is a name, term, plan, image, or whatever other component that recognizes one vender's acceptable or administration as particular from those of different dealers. You can consider a brand as the thought or picture individuals have at the top of the priority list when pondering explicit products, administrations and exercises of an organization, both in a pragmatic (for example "the shoe is light-weight") and passionate way (for example "the shoe causes me to feel amazing"). It is thusly not simply the actual highlights that make a brand yet in addition the emotions that shoppers create towards the organization or its product. This mix of physical and enthusiastic signs is set off when presented to the name, the logo, the visual personality, or even the message imparted. A product can be effectively duplicated by different parts in a market, yet a brand will consistently be extraordinary. For example, Pepsi and Coca-Cola taste fundamentally the same as, anyway for reasons unknown, a few people feel more associated with Coca-Cola, others to Pepsi.

Roles & Importance of Branding

Roles

•  The Role of Branding in Business Marketing.

•  With any new business, building up your foot on the lookout and to your intended interest group is vital.

•  With this early issue, you should actualize exhaustive and well-strategized branding for your business.

•  Building your image around your products or administrations is effortlessly done on the off chance that you have foundation information and examination.

•  It tends to be an enormous issue in the event that you don't have any data on the best way to do it.

•  In this sort of occurrence, it is ideal to employ specialists who are knowledgeable about the part of branding to assist you with working out the methodology.

•  Branding isn't generally the most basic factor to make your business a triumph; however a solid brand personality can make numerous favorable circumstances for your business.

•  Branding is a marketing practice that an organization displays in making its name, image or logo, and by and large plan that is promptly recognizable as the organization itself.

•  It gives your business its attributes and persona.

•  It likewise assists with speaking to what you offer as a business, what you sell, and how unique you are from different products or administrations.

•  Your image resembles the public face and character of your organization.

•  Branding isn't restricted to logos, plans, and friends shading palette.

•  It likewise incorporates each part that finishes your business – from shading mixes and typography styles to the packaging of your products and the general introduction of the organization when in a pitch introduction.

•  It covers all that you present as a business.

•  Branding is the actual picture and character of who you are as a business and how you focus to be perceived.

Q12) Explain labelling?

A12) Packaging, branding and labelling go together and constitute an integral part of product planning and development. Label is a part of a product. It gives verbal information about the product and the seller. The purpose of labelling, like the purpose of branding, is to give the consumer information about the product he is buying and what it will and will not do for him.

A label is also a part of a package or it may be attached directly to the product. There is a very close relationship between labelling and packaging as well as labelling and branding or grading.

Labelling is the act of attaching or tagging labels. Label is anything — may be a piece of paper, printed statement, imprinted metal, leather — which is either a part of a package or attached to it indicating contents, price names of product and produces and such useful information beneficial to the consumer. Example- labels on drugs and dangerous products contain factual information.

Labels are classified as- (a) brand, (b) grade, (c) descriptive, and (d) informative. Brand label mentions the brand name or mark. Grade label identifies the quality by a letter, number, or word, e.g., AAA, Fancy Grade, Grade No.1 and 2. Descriptive and informative labels are similar.

They give helpful information on the following-

(a) Brand name, (b) Name and address of producer, (c) Weight, measure, count,

(d) Ingredients by percentages where possible, (e) Directions for the proper use of the product, (f) Cautionary measures concerning the product and its use, (g) Special care of the product, if necessary, (h) Recipes on food products, (i) Nutritional guidelines, (j) Date of packing and date of expiry, (k) Retail price, and (I) Unit price for comparison.

Labelling, in general, is not a very reliable guide to quality or an assurance of uniformity. The printing of labels costs very little and the superlatives given on the label cost nothing. Hence, consumers should guard against deceptive labels.

Eco-Labelling:

21st century has been considered as the century of environmental awareness in all countries. Consumers would now prefer products which are environment-friendly. Eco-label on a product is awarded on the basis of the product’s environmental friendliness. Eco-label is at present voluntary.

The European Community has issued guidelines on all important environmental effects throughout the product life-cycle, from production to disposal to the final consumer. Eco-labels are only granted for a limited period. The green marketing may be world-wide phenomenon in the 21st century. Many countries may have legislation to control environmental damages, particularly solid-waste disposal.

Q13) What is after sales service?

A13) After-sales service, also called after-sales support, refers to the services and support a business offers to the customers as part of its customer satisfaction and customer retention policy after the offering is sold.

This after-sales service definition can be divided into three parts :

• Services and support provided to the customers: After-sales services include all the services provided to the customer by the manufacturer, retailer, or a third-party customer service or training provider concerning the offering.
• As part of customer satisfaction and customer retention policy: After-sales services form a part of the marketing strategy targeted to increase customer satisfaction, brand loyalty, and word-of-mouth-marketing by fulfilling what’s promised to the customers.
• After the offering is sold: Such services are provided after the customer has paid for the offering.

Importance Of After Sales Service

Complex products, expensive products, or products with long lifespan often require the seller’s involvement to aid the customers in setting up and/or using the offering. Sometimes, marketing efforts also require the seller to provide the customers with some guarantee of usage and product lifespan to aid the sales.

All these constitute after-sale services and are important towards the fulfilment of the short-term and long-term goals of the organisation, like:

• To get more customers on board.
• To prove that the product is worth buying.
• To reaffirm customers’ decision of relying on the brand.
• To retain customers and make them buy from the brand again.
• To build relationships with the customers.
• To enforce referral and word of mouth marketing strategies.

Q14) How demand affect the selection of foreign market?

A14) One has to determine the demand of the product in the foreign market. Based on the present demand and the suppliers already there, whether one more competitors would be able to get a reasonable market share is the crucial point to be decided. The perceived durability how long will be the demand persists, and whether there are any patent laws or public laws of the country present or imminent has also to be looked in to.

Q15) How competition affect the selection of foreign market?

A15)

The exporter must consider the degree of competition in the overseas markets. Nowadays, due to globalization, there is high degree of competition in the overseas markets. In the ultimate analysis the price factor is very important. The selling price as related to competition and quality is a very important factor. It is not only the existing competition but the potential new competition has also to be assessed properly.

Q16) What are the ways to carry direct exporting?

A16)

When a manufacturing firm itself performs the task of selling goods abroad rather than entrusting it to any outside agency it is called direct exporting. Usually a home based export/ international marketing department in the firm is given responsibility for selling abroad. The exporting firm may also establish its own sales subsidiary as an alternative mode. When a manufacturer engages in direct export, he takes more risks but gets more returns. More than anything else, direct export means more involvement for the manufacturer, more control and more expertise within the firm.

A company can carry direct export in many ways:

(a) Domestic based export department or division: An export sales manager, supporting sales staff, with some clerical assistants carry on actual selling and draw on marketing assistance as needed. It might evolve into a self-contained export department or sales subsidiary carrying out all the activities involved in export and possibly operating as a profit centre.

(b) Travelling Export Sales Representatives: The company can send home-based sales representatives abroad at certain times to find and promote business.

(c) Foreign based Sales Branch or Subsidiary: An overseas sales branch allows the manufacturer to achieve greater presence and programmed control in the foreign market. The sales branch handles sales distribution and may handle warehousing and promotion as well. It also serves as a display and customer service centre.

(d) Foreign Based Distributor or Agents: Foreign based distributor would buy and own the goods. Foreign-based agent would sell the goods on behalf of the company. They may be given exclusive right to represent the company in that country or only general rights.

Q17) In indirect exporting explain the middlemen?

A17) In the case of indirect exporting, a firm can use a variety of middlemen who operate in the international markets.

(a) Domestic Based Export Merchant: The middlemen buy the manufacturer’s product and sell it abroad on his own account.

(b) Domestic Based Export Agent: The agent simple agrees to seek and negotiates with foreign buyers for a commission. He may also render certain services but does not take title to the product. Trading companies are also included in this group.

(c) Resident Agent/ Representatives of Foreign Buyers: Who buys in the exporting country on behalf of importers abroad.

(d) Co- operative Marketing Organisation: A cooperative organization carries on the exporting activities of its members and may be partly under their control. This form is used usually by producers of primary products, fruits, vegetables, nuts, and so on.

(e) Combination Export Manager: Who acts as an overseas selling agent for a number of companies and practically acts as the “Export Department” for the firms it represents.

(f) Export Management Companies: These types of companies manage a company’s export activities for a fee.

Q18) How packaging provide protection?

A18) The main or important function and objective of packaging is to keep the products safe and fresh. Packaging helps to protect products from the possibility of loss, damage, decline in quantity and quality, color, size, etc. that may be caused by sun, rain, dust, insect, air and so on. The products are packed in proper materials to carry them from one place to another in right condition. Some cases, package increases the life span of the products. Glass made goods, food products and many other goods can be kept safe from crack and break, damage, decaying, adulteration etc. by packaging.

Q19) How packaging provide identification?

A19) Packaging gives short introduction of different kinds of products and their producers. Every producer or middlemen select color, size, design of container or box, and package their products in a way that they look different from competitors' products. This makes customers easy to identify the same-nature products of different firms. The customers can recognize and may buy the products of their favorite company or brand as soon as see the package. Mostly, information such as name of the product, name of manufacturing company, ingredients used i product, weight, quality of the product, its using method are printed or written on the package.

Q20) What is brand name?

A20) A brand is a name, term, plan, image, or whatever other component that recognizes one vender's acceptable or administration as particular from those of different dealers. You can consider a brand as the thought or picture individuals have at the top of the priority list when pondering explicit products, administrations and exercises of an organization, both in a pragmatic (for example "the shoe is light-weight") and passionate way (for example "the shoe causes me to feel amazing"). It is thusly not simply the actual highlights that make a brand yet in addition the emotions that shoppers create towards the organization or its product. This mix of physical and enthusiastic signs is set off when presented to the name, the logo, the visual personality, or even the message imparted. A product can be effectively duplicated by different parts in a market, yet a brand will consistently be extraordinary. For example, Pepsi and Coca-Cola taste fundamentally the same as, anyway for reasons unknown, a few people feel more associated with Coca-Cola, others to Pepsi