The first step towards improving market share of export markets is to identify those target markets and needs where your products/ services have strong market potential – with strong demand for the right products.
Given that there are many countries in the world, you need to be able to pick the right one(s) for your particular products and services. If you know your target market and market needs, it’s half the battle won, and you’ll easily be able to win export orders from those targeted countries.
How to Identify Export Target Markets
You can identify your target market by conducting international market research that will give you detailed knowledge of opportunities in international markets.
It can confirm that an opportunity actually exists in a particular market and can help you to understand the market's characteristics. It can give you insight into how a new market can be developed.
Most important, it helps you to identify needs of your potential customers and factors influences their buying decisions.
New Target Markets Benefits
Global Trade Tracker allows you to:
- Make better founded decisions for your market entry
- Increase revenue
- Better plan your business, marketing and sales activities
- Better define what is a prospect and what is not
- Better positioning of products or services
- Uncover market changes
Sample Search - Wood Pellet Growth
The wood pellet market in Europe is growing rapidly. In 2008, consumption was estimated at just over six million tonnes and is expected to grow to over 12 million tonnes by 2010. Currently the fastest growing sector is home heating, although there is also a strong demand for wood pellets for power stations.