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Showing posts from January 19, 2017

Introduction to Exporting - Part 4

Chapter 4 Identifying Your Target Market   Understanding International Market Research After the export plan, market research can be the most important contributor to international success. There are about 190 countries in the world, and you obviously want to pick the right one(s) for your product or service. To do this, you need information that will provide a clear picture of the political, economic and cultural factors affecting your operations in a given market. For example, you may already be aware of an opportunity in a foreign market, but need specific information to take advantage of it. Or perhaps you have a target market in mind and you want more detailed knowledge of the demand for your product or service. Market research is the key to understanding your opportunities. It can confirm that an opportunity actually exists in a particular market and can help you analyze the market’s characteristics. It can give you the insight into how a new market can be devel