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Research Your Export Markets
4. Research Your Competitors
4.1 Identify your main competitors in the foreign market - domestic suppliers and those from the UK and elsewhere.
- A competitor analysis may be best done by a research agency (see 6).
4.2 You need to know:
- The range competitors offer.
- The quality of their products or services.
- How they market and distribute.
- If they offer credit and on what terms.
- Which sectors they target.
- What their strengths and weaknesses are.
How to Brief an Agency
Market research agencies are usually asked to compete for work by responding to a brief.
The brief should:
- ask for a response by a given time
- describe your company and what you want to export
- give the geographical scope
- state the reason for the research and the information you need
- provide a deadline for the research
- describe how you want the report formatted and presented.
Proposals should:
- show understanding of the project and your requirements
- cover how the research will be done and why
- include background and qualifications of the researchers involved
- give costings, including a breakdown of foreseeable expenses and fees
- explain how the agency will charge
- give clear timescales, including the time allocated to each stage of the research
- include a confidentiality agreement.
Labels: Exporting/Importing
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