The field of trading strategies had evolved substantially in the past 25 years as a result of which firms have learned to analyse competitive environments, define their Unique selling propositions, determining their position in the market arena. Economic drivers such as globalization and deregulation have resulted in the appearance of new business models in today’s world. In order to survive and sustain in the competitive environment every business needs to develop and adopt certain strategies which will not only help them for thriving into the markets but also for attaining ample sum of profits. Global EXIM Institution presents you the “5- Trading strategies for Beginners” so that even a beginner in the field of commerce can reap the above said benefits.
The 5-Trading Strategies are: –
- Make local as Global
- Identify the Quick wins
- Focus on seasonal products
- Stay cautious during the peak season
- Rate fluctuations
- MAKE LOCAL AS GLOBAL: – Making sales with multiple markets allows companies to diversify their business and spread their risk. Most of the local businesses become competitive in the domestic market before they venture in the international arena. This shows that for a business to blossom it not only requires the domestic market but also the potential to export. It was always an untrodden path for many of the exporters to tap on the local products which will retort a greater amount of profits in the market. By identifying the local products and resource availability and by having a basic knowledge on exports, one can easily penetrate into to the international markets.
- IDENTIFY THE QUICK WINS: – If we consider a product which was already moving in the arena for such a product by accommodating bandwidth, we can fetch better results when compared to the other FMCG’s. Here in this phase you need to apply your critical analysis and astuteness.
For example: – If we consider the current scenario, the government had lifted the ban on masks, sanitizers, gloves and some medical equipment. By taking out an advantage out of the scenario as there is a need for the above said products all over the world, we need to understand the right supply chain and export. This is how we can convert a disaster situation into an opportunity which is only possible for business person.
- FOCUS ON SEASONAL PRODUCTS: – The most predominant step for survival of any business is it need to change its mode of business in accordance with the seasonal products. In this phase exporters should have a luculent plan in order to capture the seasonal opportunity for better results. The procedure involved in the process of exporting the seasonal products need to be planned appropriately.
- STAY CAUTIOUS DURING PEAK SEASON: – The peak season will be exciting and rewarding period for business owners, where they can see a drastic increase in sales. However, this season will be
stressful as it requires a lot of pre-planning procedures to manage the influx of customers. It is not advised to make investment into business in peak seasons due to the sceptic nature of supply-chain management. In another dimension, the price of your product after the peak season is comparatively less. Here it indicates the nature of risk that was inherent during these peak hours. The only way to triumph in this situation is to pre-plan every aspect of the business with utmost care in order to manage deviations if occurred.
- RATE FLUCTUATIONS: – The right pricing decisions begins with expertise. But as a beginner it was a tough task to fix a price when the commodity if having a fluctuating behaviour in the market. In such cases, the consolidated price should be taken so that the business person can have a clear idea regards the fixation of price for his product.
Nevertheless, the above strategies, a business requires many more tactics and innovative measures in its path of profits. These can be explained by Global EXIM Institute. Deciding to start a business is in your hands—where as giving inputs for market penetration and keeping your business in frontline is in our hands.