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You are here: Step 13: Revising your export costings and price  
Revising your export costings and export price

Doing it all again

It is likely that during your negotiations with your foreign buyers that you will need to revise your export costings and price to meet their expectations. The world marketplace is a very competitive place and no matter how price-competitive you think you are, you are almost certain to find other suppliers with keener prices that you will be asked to match or beat! This will rquire you revisiting the costing exercise that you did as part of step 8 and trying to find cost items that you can remove or reduce. This is not always easy. It may require you to:

  • Find alternative suppliers (maybe even importing from overseas)
  • Renegotiate better prices and better terms from your existing suppliers
  • Redesign your product to require fewer or cheaper components
  • Redesign your manufacturing process to speed up production and to lower unit cost
  • Change your packaging to reduce cost
  • Reduce the number of intermediaries in the distribution channel
  • Renegotiate lower mark-ups with these intermediaries
  • Consider assemblying your product in the foreign marketplace to reduce cost
  • Consider manaufacturing the product overseas, rather than at home
  • Reclassify the product so that it incurs a lower import duty
  • Find lower-cost transportation
  • Consider alternative pricing strategies
  • Accept lower profit margins

In this section, you will be required to:

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Step 13: more information

Step 13: Revising your export costings and price
      Revisit the costing exercise
      Revisit your pricing strategy
      Marginal costing
      Consider the various cost reduction alternatives available to you
      Decide on a new export price

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More information on Step 13
Learning to export... The export process in 21 easy steps
Step 1: Considering exporting
Step 2:Current business viability
Step 3:Export readiness
Step 4:Broad mission statement and initial budget
Step 5:Confirming management's commitment to exports
Step 6: Undertaking an initial SWOT analysis of the firm
Step 7:Selecting and researching potential countries abroad
Step 8: Preparing and implementing your export plan
Step 9: Obtaining financing for your exports
Step 10: Managing your export risk
Step 11: Promoting the firm and its products abroad
Step 12: Negotiating and quoting in exports
Step 13: Revising your export costings and price
Step 14: Obtaining the export order
Step 15: Producing the goods
Step 16: Handling the export logistics
Step 17: Export documentation
Step 18: Providing follow-up support
Step 19: Getting paid
Step 20: Reviewing and improving the export process
Step 21: Export Management
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