Business planning is the definition of the company's long-term, medium-term and short-term goals, assessing the likelihood of the desired results, identifying the necessary resources and developing strategies and tactics to achieve these goals.
The main task of business planning is to describe the development prospects and the main risks of the project, which will help the businessman or investor to answer the question: is it worth investing his resources in this project.
Business planning also involves determining the directions of the enterprise, drawing up a plan of necessary actions, as well as an analysis of the obstacles and risks that may hamper the implementation of the business plan.
Business planning is the most profitable investment of money at the stage of implementing a business idea, because it reduces the number of errors and expenses, helps to save resources and improve the efficiency of the project.
The domestic market is the total number of real and potential consumers that create demand for a certain product. The aggregate demand of all consumers is called the volume of the market, which is measured over a certain period of time and depends on the level of prices.
The structure of each market is heterogeneous, so its correct segmentation allows you to identify the features that affect the choice of consumers of each segment, develop effective tools to increase sales and the form of commercial offer for them.
Market research or market analysis is conducted in order to obtain reliable information about the market situation and dynamics for companies wishing to bring new products to the market, to increase sales or to gain a leading position.
Market research is the most profitable investment, as it allows you to assess the development prospects of the market under study. Based on the results of market analysis, a marketing strategy is being developed.
Access to foreign markets has a number of advantages, including economies of scale, diversification of sales markets, brand image enhancement, foreign exchange earnings and maximization of company profits.
In the process of entering foreign markets, the company goes through several stages: trial exports, extensive export growth, intensive export growth, export marketing, global marketing. Only a few companies get to the last stage.
To successfully enter foreign markets, it is necessary to carry out marketing activities, including the analysis of foreign markets with a view to creating a list of promising countries for the export of the company's products, identifying the most promising segments in the markets of these countries and methods of conquering these markets.
Export marketing is the most profitable investment of money in the process of entering foreign markets, because it allows reducing the number of errors and expenses, as well as saving the exporter's resources.