How to Choose an Export Market

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Export / Import Information for Small Business Owners in Australia

How to Choose an Export Market

Take a Business Trip

Searching for a viable foreign market is the key to serving that market with your products. It is good practice, and a vital industry component to visit your target market on their soil. By visiting the country you are going to export goods into, you can get a sense for the social and economic structures that make demand for your product. Meeting your foreign distributors can also be a great bonus as well. Even if you don't know what you're going to export yet, visiting your export market in that country can give you a lot of ideas.

Hire Help

Don't feel like you have to visit to be successful, though. A good export market strategy can be had with good, reliable information, such as hiring a reputable export agent. This agent will most probably have a market already ready to purchase goods and have done their homework already.

Making Contacts

If you are planning on exporting goods which you manufacture and distribute currently in a domestic market, you will need to determine if that market exists in your export market strategy. A great indicator can be information gained from a trade group within your product's category. For example, your company makes weather-proof material used for outdoor furniture such as patio umbrellas and chairs. Your company joins a trade group, which is made up of other outdoor furniture manufacturers who are presenting to an export market as a complete line of outdoor products. The market is already there and you have found a niche for your specialized product. This is just one example of how making contacts can help you choose an export market.

Matching Products to Demand

It is possible to find your export market on your own, without the help of an export agent or trade group, but it takes a lot of hard work. However, this can be very beneficial, because only you truly have your best interests in mind; it can also be very rewarding knowing you did the groundwork yourself. The single most important thing in choosing your export market strategy is matching your products to a demand that exists.

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