How to research an international market for your goods

How to research an international market for your goods

Adele - August 02, 2017

It has never been so easy to enter a new international market. The options are practically endless. Unlike two decades ago, when you would have to physically enter the market, nowadays you could simply open up an online marketplace and gain awareness only in the virtual world, still reaching out to every customer out there. You could even use marketplaces such as eBay or Amazon, which already have an insane user database, browsing on a daily basis. In consideration of the foregoing a market research is still essential when it comes to selling products overseas.

Which market is good for you?

The only way to answer that question is by conducting a thorough analysis and based on it, create a strategy and a perfect export plan for your stock. Before even selecting the single or multiple markets, think of your product. What does it represent? Where would it be valued the most? Back it all up with hard data as evidence. Once you pinpoint that, conduct an investigation on the demand of the given market and your respective product. Sending a

parcel to Norway

has never been so easy, but in order to get there, you would have to make a sell. 

In order to get yourself to the position of delivering your shipments, you would have to target the exact audience which would be interested in your product. Be as accurate as possible. Once you have done so, it is time to analyse the competition. Gaining deep knowledge on your rivals doesn’t only provide you with information on the whole market audience, it also provides you with the data required to beat them. Each company makes mistakes. Once you establish the missteps they made, you could exploit them and take advantage of their lost opportunities to gain new customers.

Prevent funds from flooding out

The main idea of the market survey is not only to prevent your company from losing a ton of money while entering the new market but to also optimise the profits it would obtain. Start off by gathering information on the specific industry and its customers. Either through conducting reviews of your own or using data which someone else has gathered.
Sending your shipments through a giant like FedEx would lead to drop in your profits. They charge an insane amount of money because they are market leaders. Use Courierpoint instead, to save you money on shipping costs and get a personal touch with our award winning London based customer service team. 

 

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