Selecting Export Markets: Guidelines To Consider

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Selecting Export Markets: Guidelines To Consider by Mind Map: Selecting Export Markets: Guidelines To Consider

1. Assess each country’s legal practices, safety and environmental regulations, and commercial code.

1.1. .

2. Research Trade Barriers, Competition and Culture

2.1. Identify trade barriers that could impact your products

2.2. Study competitors, their products, prices, distribution methods, consumers and level of after-sale service.

2.3. Study a culture’s character in advance.

3. Investigate Intellectual Property Protection and Other Laws

3.1. Investigate how piracy is handled.

4. Study Economic Indicators and Levels of Stability

4.1. Keep abreast of political risks and potential civil unrest.

4.2. Research how much of your product each target market produces domestically, imports and exports.

5. Scrutinize Human and Physical Infrastructure

5.1. Your product requires a skilled support staff

5.2. Calculate the expense of obtaining support from other locations.

6. Correctly Weigh the Factors

6.1. Establish the criteria you feel will best determine markets to pursue—and accurately weigh the factors.

6.2. Success is best achieved if research reveals all hidden costs

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