INTERNATIONALTRADE
THE IMPORTANCE OF THE INTERNATIONAL MARKETING PLAN IN A CONTINUALLY CHANGING ENVIRONMENT be a less than a reactive and useful action
Never has International Marketing to take in such an environment where rapid responses are required, however, planning been as important for the reverse is true, and not just for larger future proofing a company’s businesses, but firms and organisations of potential or ongoing international all sizes. activities given the current SO WHY PLAN IN THE FIRST circumstances businesses find INSTANCE? themselves in - simultaneously A plan will create structure, order having to deal with the perfect and direction out of a chaotic, storm of EU Exit and a global even overwhelming (international) pandemic. business environment. When a plan is Both events have created and continue to create a myriad of significant and challenging international and global business environment variables and events which firms are having to manage and respond to and over which the company may have no control. The traditional view of planning as a very prescriptive, detailed process may seem to
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subsequently communicated internally within a business, it will provide its employees with a sense of direction thereby more confidence in the company they are working for. A “live” plan enables the company, even a small or micro business, to continually re-focus on core objectives, its core competences and subsequent profit generation and not be distracted by external (and internal)
business challenges, opportunities and threats – it charts a course which can be continually referenced through turbulent waters. A plan will enable a better understanding of the shifting international business and competitive environment and as such how the business can look to compete effectively within it. A plan will identify risks facing the business and will enable a response to mitigate against the current and potential risks identified. A plan will outline a clearer understanding of the resources the business will need to commit over the short and the longer term. A plan will generate a clearer understanding of existing and new target markets, the competitive environment and any competitive threat.
May/June 2021
