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Research Your Export Markets - |
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Page 5 of 9
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 your 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.
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Business Advice