How to determine a market to export

Before going to the topic, we have seen many papers on the importance of exhaustive foreign market research. Because by selecting markets with a trade flow you can analyze markets information where import and export data are available.

You should notice that there is a group of countries that are definitely importers of your products. It is critical at this point to avoid thinking of groups of countries as markets because it will result in poor judgment.

4 elements can strongly affect the chances of entering the export market successfully.

Geographic Proximity of the Market

This will affect the promotional costs, the possibility of moving, and the final cost of your products in the destination market. An element that the importer will analyze to make the decision and that contains the international freight cost of the merchandise. Which seriously harms many products, given the geographical position of your country with respect to international markets

Cultural Proximity

The fact of sharing customs, certain traits of idiosyncrasy, language, etc will facilitate the subsequent dialogue with your potential customers, as well as the adaptation of your product.

Existence of?trade agreements?between the target market

Integration agreements have proven to be very specific instruments for generating trade flows between partner countries. It would be judicious to start with those markets.

The relative?size of the market

We have noticed most companies make these mistakes. Seeking access to large markets that they cannot afford later due to their limited production or financial capacity. It's especially crucial for you to start exporting to markets that are properly fitted to your company's export capacity.