Smart Way To Select Export Market

Given the number of markets worldwide, which might be showing high potential, the question arises as to how to select this market smartly. Information is what you need to select an appropriate export market. And again, using, chamber of commerce, your industry association, relevant export authority, and your colleagues might be of great assistance.

Although nobody will give you direct advice, you can get better knowledge of where to go global. Statistical data analysis is essential when selecting the market. You can obtain lots of useful details from the Bureau of Statistics or from commercial companies, which specialize in collecting international trade data.

Some companies will be also able to provide you with very specific export/import data about products similar to yours and about most popular markets. The Internet is a great source of information. Go online and browse the Internet. You won’t find the exact answer, but I`m sure you; i`ll get some good ideas. A good indication of the export opportunity is the number of inquiries from a particular market.

If you receive significantly more inquiries from Korea than from any ot her market it may be a good sign that there is a significant demand for your products in Korea. Rapidly growing markets, such as China and India, are usually better targets for commencing export than developed countries. When selecting the market you should: Know the marks requirements, assess your target customers, examine your competitors, be prepared to compete against lower-cost, lower-price local companies.