Guidelines for export market research

Posted On September 26, 2015
Categories Executive Highlights Tags

by Cavusgil, S.Tamer

Business Horizons 28, no. 6 (1985): 27-33

Abstract

Practical guidelines to assess export market opportunities are presented based on in-depth interviews with executives of 70 exporting companies in Wisconsin and Illinois. In most of the firms studied, such a process was fairly unstructured. Since the number of world markets to be considered by a firm is very large, a sequential screening process is most efficient and effective. A sequential process consists of: 1. a preliminary screening to select attractive countries, 2. an analysis of industry market potential for each country selected, and 3. an assessment of company sales potential in favorable countries. Firms can obtain information from a variety of sources, including the Department of Commerce. Firms have developed practical approaches for estimating foreign market potential. Five specific approaches are: 1. the use of distributor/agent contacts, 2. advertising directed to prospective distributors or other customers, 3. participation in trade fairs, 4. expansion of the supplier relationship with domestic customers to overseas markets, and 5. trade audits.

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