Market
selection plays an important role in doing business at the international level.
Finding the potential market is so important to bring success in the export
business. Selecting the wrong market without potentials for your product or
product groups can make your investment to vanish in thin air. Hence you should
know about the steps or factors involved in selecting the international market
to export your products. Here are some of the important among them.
International
marketing objectives
The
first step in the selection of the international market is to determine
international marketing objectives. You should have clearly defined objectives
that better suit the goals of the organization. There is no need that your
objectives should match with the importing policies, rules and regulations of
all of the markets or countries. Hence make a study of the importing policies
of different countries to select the international market that better matches
your marketing objectives to export from India.
Parameters for selection
You
should give importance to criteria and parameters for proper and systematic
evaluation and selection of the markets. Some of the important parameters
include the international environment, resources of the firm, market situation,
government policy, nature of competition and more. If you find it difficult to
consider and analyse these parameters, then you can make use of a reputed
online integration platform of the country that helps with the exports and
imports. They can provide the listing of genuine buyers from different
countries in the world to initiate the business proposals.
Preliminary screening
This
is one of the most important processes in market selection. This screening
helps you to eliminate the markets that are not potential for your products.
Some of the parameters to consider for preliminary screening include per capita
income, size of the population, infrastructural factors, the structure of the
economy, and political conditions. These parameters may vary from product to
product. You can make use of professional consulting from reputed online
platforms promoting export to make the preliminary screening process effective.
Shortlisting of markets
Preliminary
screening helps you to terminate the market which does not meet your marketing
objectives and consideration. You can find a large number of markets even after
preliminary screening. This helps you to shortlist the markets that better suit
your objectives and goals. If you find it difficult to find the best market
from several, then you can make use of the online export integration platforms.
Reputed platforms bring you the listing of 7.5 million-plus buyers from more
than 190 countries around the world.
Evaluation and selection
Now
you can evaluate the genuine buyers from your interested countries from your
shortlisted companies or through the reputed online platform. The best export
integrating platform of the country helps you to easily search for the buyers
based on your product from desired countries. The platform generates real-time
leads specific to the products to send the proposals for export from India. These platforms also arrange orders from
international buyers based on your requirements and objectives.