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Home Business Advice General Advice Research Your Export Markets
Tuesday, 06 January 2009
Research Your Export Markets -
Contents
Research Your Export Markets
Identifying Potential Markets
Do Your Goods or Service Fit?
Fine-tuning the List
Research Your Competitors
Doing Market Research
Using an Agency
How Can I Reduce My Costs?
Visiting Potential Markets

Research Your Export Markets

3. Fine-tuning the List

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3.1 Find out if there are political, cultural or religious reasons why your product or service would not do well in a particular country.

3.2 Look at the overall economic climate of possible countries.

3.3 Research what duties might be levied.

  • To find out what import duties will be paid visit http://mkaccdb.eu.int. The database is free to use and you can search by a product's HS number - the classifying code used by most countries for Customs documents - or by product description.

3.4 Other factors such as climate and distance should also be considered.

  • If you have to visit the country frequently or at short notice, it may be important that it is within easy travelling distance.

3.5 You may want to look at the cost of transporting goods or delivering your service.

  • Remember there may be additional costs, such as cargo insurance, which will vary depending on where the goods are going.

3.6 Decide whether a language barrier would cause problems.

  • Make efforts and respect cultures, but not speaking the language is not necessarily an insurmountable obstacle. A good local agent may be the answer.
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