Chapter # 4 : Market Analysis
Q: As a new exporter how do I select a market?
A: You first have to ask yourself a few questions. How fast do you want a return on your investment in the new market? Do you want to achieve quickly or are you willing to wait for a long-term result? What kind of markets will your products fit into?
Geographical distances are not so important. The “mental” distance is more critical. Select a country where the way of doing business is similar to your domestic market. Make sure the market is expanding because this allows your business to grow.
Q: How do I select markets for the long term?
A: Look for markets with potential for expansion, where your products will fit in and where you can achieve long-term results. Where they are in their development – do they use shovels or computerized equipment? You may have to wait until they are ready for your products. If you are selling telecommunication equipment, look at countries with a low percentage of phone users, but where you know they plan to expand their telecommunications system. China is one example, India is another.
Leif Holmvall, President
Export Pro Inc.
In our book “Export & Import – Winning in the Global Marketplace”
ISBN 978-0-9681148-1-0 those topics are covered in depth. You can also buy our book for less than $10 as an e-book visit e.g. https://www.amazon.com/dp/0968114814, where you can read part of the book.
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