International market research

Select and research potential target markets
 

Next, you need to list your potential markets abroad and do a target market analysis of their characteristics.

We suggest:

→ Identifying 5 to 10 major markets where your products/services are experiencing growth

→ Evaluating the economic growth of the potential markets over the next 5 years

→ Finding out if they are part of any regional agreements (customs union, free trade zone), and identifying any potential commercial obstacles

→ Studying their transport infrastructures

→ Ensuring you understand their political regime

→ Doing a competitor analysis: list your local and international competitors

→ Finding out about the distribution chains, communication channels, cultural differences and commercial practices in your target markets.

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Choose your target market and adapt your strategy
 

Your global market research and target market analysis will help you decide which market is best for you.

If you’re new to international trade and export, we recommend that you focus on just 1 or 2 markets at a time (no more)..

When you’re ready, you will need an international business strategy to adapt your products / services to the target market. This strategy should include:

→ Using website localization services to translate website material

→ Transcreation (creative translation)

→ Multilingual social media management

→ International content marketing