I Want to Export? Where Should I Start?

Every successful marketing plan starts with thorough market research. Your first market research project is often the most difficult because it is a completely foreign territory. However, once you have gathered the data you need to learn how a particular type of product will sell in a particular geographical region, you can use this information over and over again as a guide for exporting your similar products. As you build your personal database of information on global markets and learn to stay abreast of developments in international trade, determining where to sell your product will cease to be a chore. You will find that market research is a powerful tool for exploring and taking control of your global territory.

You can conduct market research online, meet face-to-face with an international trade expert or exhibit and test your products at a local trade fair. Trade shows allow you to meet potential customers from all over the world without having to do any research. For example, if you exhibit your textiles at a textile fair, you may attract a lot of interest from exhibitors in a particular overseas market, such as Turkey. Then you already know that there must be a market there, otherwise why would these exhibitors want information about your product? As you develop, you can learn and find more research opportunities.

''Analyse the market factors and conditions for each of your selected countries!''

Research each country in more depth by reviewing cultural characteristics, geographical features, political stability, demographics, market size and growth rates. The aim here is to make a sound assessment of the foreign market.

What might be the obstacles?

What makes the country a good market to enter?

How will the local culture affect sales of the product or service you're offering?

This kind of in-depth market research is essential for making sound marketing decisions and should be carried out for every new market entry.

Identify the Pros and Cons of Doing Business in Each Market!

Look for potential language barriers, legal restrictions, logistical challenges and payment issues that may make it difficult to do business in a particular market. Include all relevant variables in your assessment.

Analyse your strengths and weaknesses in a selected market.

Will your product or service be priced at a low, medium or high level?

Does a similar product or service currently exist in the chosen market?

If so, who provides it?

Where are they located?

Can we compete?

The more experts you have to help you enter a new market, the better your chances of success. If you can get the perspective of a local in a country where you want to do business, you are on the right track. There is no substitute for local insight.

Choose a market and get started!

You are now ready to interpret your findings in the light of the stated goal: Where do you want to go and how will you know when you have arrived? At this point you should have enough data and experience to decide which market is best for you to start with. Keep the option of other countries open for future entry into the market you are considering, but do not enter other markets until you have proven your success in the first overseas market. If the first market you choose does not work immediately, say after six months or a year, move on to the second market, and so on. If you try to do too many things at once, you may end up doing nothing right.

Final Note

The most difficult part of developing an export plan is determining the demand for a product or service offered in a foreign country. Knowing that a product can be sold in a market is one thing - after all, that's why you chose the market in the country you did. However, when it comes to estimating how much you can sell and in what time frame, it is a different ball game. It is possible to shorten it. It is also possible to play the game according to the rules. I wanted to share certain information, albeit briefly, in terms of general information. I hope that our companies will increase and our exports will increase day by day. 98% of our companies are micro and SME scale. For this reason, every company can export due to the technological competence and accessibility we have reached.

See you soon...