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| Exporting / Importing |
Exporting / Importing: Exporting/ Importing can be defined as the selling / buying of goods produced in one country into another. Exporting / Importing does not require any manufacturing by the company. However, the organization is required to make major investments in marketing of the product.
Some forms of exporting are:
- Indirect Exporting (Export management companies).
- Cooperative Exporting (Piggyback Exporting).
- Direct Exporting (Firms set up their own exporting departments).
The advantages of exporting/importing are:
- Companies can get an opportunity to study the market before investing in brick & mortar.
- Reduces the probable risk of operating abroad as manufacturing is done locally in case of exporting.
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