How to Choose a Market?

How to Choose a Market?

• You already have useful connections to that market.
• You're familiar with the culture and you see a niche for your product.
• You know that your product has a unique appeal for this market.
• Your product will be competitive with local products in this market.

Find a Partner

• You need someone to sell the product to you: a wholesaler, distributor, or independent retailer. Examine each potential partner closely. There are a variety of resources that can help you find a reputable company. Visit the websites of the Small Business Administration and the Import and Export Bank.

Are You Going to Get Any Benefits?

• How much will it cost to bring your product to market? What fees and commissions will apply?
• Can you find facts and figures about the demographics of the market? Past sales of similar products could give you an idea of local demand for your products. Is it necessary to repackage or change the product name for this market?

Labeling and Packaging for Products

• Product names and associated images and labels can make a big difference!
• Learn the local language, including slang terms, before exporting your product. Many products have failed in foreign markets because the product name was rudely or embarrassingly translated into a local language or dialect.
• Are the colors on labels and packaging offensive or attractive to foreign buyers? In some countries, certain colors are associated with death or have other associations that could restrict your market.
• Are the images, logos, or other images attractive to this market? If your product comes packaged with unknown images or faces, consider adapting it to appeal to a local audience.
• Does the product label meet all required local standards?
• Does the packaging material meet local requirements?