Selecting Import Products and Suppliers. - Products that are unique - Products that are less expensive - Products that have proven demand - Products that.

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Presentation transcript:

Selecting Import Products and Suppliers

- Products that are unique - Products that are less expensive - Products that have proven demand - Products that are of better quality Types of Products for Importation

 Domestic market research  Trade publications  Foreign travel  Trade fairs and shows  Trade offices Finding, Assessing, and Selecting the Product

Landed-Cost Survey, DM Import Company, Davie, Florida Supplier: V. Maundo, Nairobi Kenya Quantity: 150 Makonde carvings  Gross sales price  Less cash discount (15%)  Net sales price  Landed cost  Purchase price  Packing-----  Inland freight  Duty ( insurance ($50) +  Freight (800)) = 7% ( )  Brokerage and banking charges  Custom bond fee50.00  Merchandise processing fee8.00  Harbor maintenance fee2.00  Total landed cost (CIF, Miami)  Expenses  Advertising  Re packing  Interest  ABI (Automatic broker interface fee)  Total landed costs and expense  Unit cost $22.52 per item  Suggested selling price $45.00  Net Profit6750 ($45 x 150) (22.52 x 150) = $ Landed Cost

- Purchase sample - Request inspection by customs - Check with freight forwarder - Estimate price Selecting the Supplier

1. Product quality, brand name 2. Market appeal, minimum defects 3. Other supplier benefits: timely delivery, warranties, after-sales service, reliability 4. Protection of intellectual property rights Selecting the Supplier: Important Considerations

1. High per capita income 2. Population size 3. Price of imports denominated in foreign currency 4. Exchange rates 5. Price of domestic goods relative to imports 6. Price elasticity 7. Government restrictions, availability of foreign exchange Determinants of Import Volume

Direct channels of distribution: - Foreign producer exports through its subsidiary Indirect channels of distribution: - Entails exporting the product to an intermediary Import Marketing Channels

1. Open account 2. Consignment 3. Documentary collection 4. Letter of credit Financing Imports