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Wednesday, January 1, 2014

Export Success?

(comparing sales data in the U.S. to the target market):
Ask yourself these questions specifically as they apply to your products.


1 What role does environment play?
EX: How are climate & geographics different than in the U.S.

2. Is the target market stagnant or growing?
In a maturing mkt. price may be the ONLY factor.

3. What are the issues that trigger a sale?
Technology may have no effects in market viability.

4. Does environment affect product usage?
Accustomed usage or strangeness will point to success.

5. Culture, application, and/or utility perceived will result in market entry options
Cosmetics may be useless in a market where makeup is derided.

6. Application (usage) is totally diverse from the U.S. domestic market.
Fashion as in sunglasses - beach, ski, city - where are these factors?

7. Who is user? Who is the supplier?
Distribution channels, direct, big box, etc. Which over there?

8. Why is the product used?
Will it be the same over there? Is health a condition, etc.

9. Finally, perception of acceptance.
As a consumer driven society what we see here as necessity may be a luxury.

Understanding these nuances will provide an inkling of how to approach the foreign market for the most successful entry.

SCORE Chapter 412
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