Market Selection

Global trade presents many opportunities and it’s a good idea to focus on one or two countries or areas to start with, but where?  You may have already received queries or contacts from a particular country which might indicate that there’s a market for your product. Maybe you have contacts or specific market expertise within the business that might help you work out where to start. You may wish to focus on English-speaking markets or those with a similar business culture to start.

There’s also a lot you can do from the comfort of your own desk to carry out some basic market research. There are various online resources and tools to help you do this included those listed below.

Consider the following questions:

  • Have you carried out any analysis of your sector overseas?
  • Have you identified market(s) that have potential?
  • How would customers benefit from purchasing your products or services vs the local competition?
  • Will the benefits of your products / services apply in your intended export markets?
  • How well does your product / service offer match up to the market requirement?
  • To what extent can you modify your products / services if necessary?
  • How can your production and quality standards be maintained?
  • Can you compete on price and quality with local competitors?

Next Steps

  1. Get hold of relevant professional and trade information for your target markets.
  2. List existing useful in-market contacts (partners / customers / others) and get in touch.
  3. Find out and visit relevant international exhibitions/ trade fairs and consider a scoping visit.
  4. Work out if there is likely to be demand for what your business can offer.
  5. Read the different ‘Exporting Country Guides’ produced by the Department for International Trade. You can find the by clicking here to visit the website.

Need help?