Market Research | 
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Prior to entering a new market, the prospective exporter will require an accurate perspective of that market. Initial desk research often shows, at a very early stage, if entry into the new market will be feasible and profitable in the short, medium and long term. Such research will be a good basis for a decision as to whether, potentially, more costly field research should proceed. The research will also provide the basis of an export-marketing plan, which the exporter needs to prepare. Apart from the analysis of relevant issues, the plan will set out the company’s objectives, the strategies used to reach those objectives, and the resources needed to implement the plan. This initial research should address the following criteria:
- Background of the market including political and economic stability;
- The size of the market;
- Potential demand for the product;
- Import restrictions;
- Level of duties/taxes which will be imposed on the product;
- The competition
- Restrictions concerning payment methods;
- Foreign exchange problems/delays;
- Availability of credit risk insurance availability of shipping services;
- Infrastructure (roads/telecommunications);
- Technical requirements;
- Labeling/marking requirements;
- Packaging requirements;
- Languages;
- Frequency of trade fairs;
- Travel options/visa requirements;
- Details of target customers:
- Size and location of operation;
- Financial standing;
- Normal payment terms;
- Credit standing with export credit risk insurers;
- Cultural/other restrictions, which might affect sales.
