Export Marketing

How to Select and Evaluate Foreign Market

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Most important step that you must take to make your export business a success is find right market for your products. Exploring and assessing prospective markets and their potential for your products or services is crucial. It involves an extensive exercise of exploring numerous prospect countries and markets to finally arrive at a few suitable opportunities. This exercise involves evaluation of markets on basis of their :

  • Geographical relief for
    • Location and topography
    • Proximity of market from you
    • Transportation and logistics options
  • Statutory framework to ascertain
    • Statutory requirements
    • Product standards
    • Consumer privilege information
    • Duties and levies
  • Market structural study to identify
    • Size of target consumer base
    • Price and product feasibility
    • Competition including domestic manufacturing
    • Presence of Agencies, dealers and suppliers

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