Once a preliminary survey has suggested one or a few countries for closer investigation, the exporter should find out:
1. The potential size of the market for its product
2. The types of customers, competitor's products and
their prices
3. The most suitable
channels of distribution
4. The best way of entering the market
(agent,
joint venture, etc)
5. The existence of any market opportunities that would
provide a market "niche" and "competitive edge"
Smaller exporter may wish to reduce the costs of any market survey by using government services available.
Trade Commissioners stationed at embassies abroad are only too willing to help the exporter assess the foreign market and suggest likely distributors.
-
So long as the export firm provides adequate product literature, samples and other necessary information.
If the market research required, is beyond the scope of the Trade Commissioner, he will suggest the names of some suitable local market research firms.
Some manufacturer may decide not to export themselves, but employ a
trading house
or export agent
to act on its behalf in seeking market opportunities, promoting and securing orders.
Checklist for Market Analysis
1. Product Acceptability?
2. Product Advantages?
3. Sufficient Potential Volume?
4. Adequate Plant Capacity?
5.
Adequate Export Financing?
6. Sufficient Availability of Raw Goods?
7. Compliance with all Export Market: Rules/Regulations/Labels?
8. Ability to Provide Satisfactory Servicing in Export Market?
9. Availability of suitable Banking Facilities in Export Market?
10. Stability of Economic and Political Climate in Export Market?
11.
Availability of Adequate Warehousing?
12.
Adequate Shipping/Transport Facilities in Export Market?
13.
Suitable Sales/Distribution Methods Available in Export Market?
Next page 2/5
Market Research Checklist
"A
marketing research checklist
research
checklist should
help a manufacturer organize"
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