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.
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.