As explained earlier, market research is a tool for systematic planning. It is, therefore, important to understand the planning process involved in export marketing that would lead to the various stages in which the information collection function can be undertaken.

The number of world-markets being very large, it is neither possible nor advisable for any one company to cater to all of them. A selective approach is necessary in the choice of export markets and therefore identification of market opportunities become an important function. On the basis of preliminary screening it is possible to eliminate many unsuitable countries from the large number of available alternatives. After narrowing down the number of alternatives, a more detailed analysis should be carried out to identify various segments of the market and to determine the sales potential of these segments. This analysis would lead to a final selection of export markets. Having made this selection, export objectives can now be set up and strategic planning of the various elements of marketing necessary to achieve these objectives can be undertaken. The next step in planning involves making this strategy operational by initiating a number of operational decisions through sales and profit budgeting manpower planning etc.