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| How to Conduct Export Research? |
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It makes good sense to focus the bulk of one's research efforts on specific foreign markets - the ones that the company will try to enter first.
Most exporters in the world usually focus their attention on the United States - because of its size and wealth. However, the exporter's products may find easier acceptance in neighboring countries, particularly those that use the same language and enjoy a similar culture or history. One technique that some exporters use to identify potential target countries, is to analyze the most recent import statistics of various |
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Analysis of Export Pricing - The guiding principle in calculating an export price is to make sure that all possible costs are included using a Costing Sheet to ensure that no items have been overlooked. Decision ahead of time by the exporter on the amount of credit, if any, to be given to the foreign buyers and how payment is to be made for example; sight draft drawn against an irrevocable letter of credit. |
countries.
Another research that would-be exporter should undertake is the export price for the product.
Most foreign buyers prefer to be quoted an all-inclusive price, in their local currency or in US dollars, delivered to their warehouse, nearest port, airport, or city. In other words, it is not enough for the would-be exporter to calculate an export FOB or FOR to his own local port of shipment. The exporter must calculate the price right through to the foreign country, an export price that is CIF, FOB or FOR called Incoterms
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