Following are the different measures to increase the demand in foreign markets: 1. Visit 2. Introduction and Enquiry 3. Advertisement 4. Sales Representatives 5. Foreign Branches.
Measure # 1. Visit:
If a trader has the capacity to bear the expenses, either the manage or the owner should visit the foreign countries, and should get in touch with foreign traders. This is the best measure to promote trade.
By his personal visit, he can obtain information regarding the behaviour, creditworthiness and financial position of foreign traders. He can do an extensive study of the foreign markets and decide what type of goods can be sold in these markets.
Measure # 2. Introduction and Enquiry:
It is also an important measure to increase the demand of Indian products in foreign markets. Under this measure, first of all we would like to get the information regarding demand of our products in any foreign country. After that we should like to get the names and addresses of those traders who deal in these goods.
This type of information can be obtained through ‘Chamber of Commerce, and International Enquiry Bureaus. Having got the names and addresses of the traders, price-list is set to them. Like this, we collect information regarding their demands and go ahead.
Measure # 3. Advertisement:
Through advertisement, the demand for Indian goods can be created in foreign markets. There are many newspapers and magazines in circulation over the world. Advertisement should be made on large scale. If advertised goods are of immense utility they will be immediately demanded and the expenses on advertisement will be an investment and not a waste.
Measure # 4. Sales Representatives:
This is also a good way to create demand in foreign markets. Some traders appoint their sales representatives in foreign countries. Sales representative is a permanent resident of that very country. He collects orders and purchases the required goods in bulk quantity, The traders of that country are also facilitated because now they need not to import from other countries but goods is made available in their country.
Measure # 5. Foreign Branches:
It is also an important measure to create demand for Indian products in foreign markets. But the establishment cost of foreign branches is very high. These branches should be established only when sales are increased.