When the domestic market is becoming saturated, many people will move the target market abroad.It’s a truism that there is no such thing as a “simple market”, neither at home nor abroad. Under the diversification of the market and the diversification of the market, how should merchants choose the most suitable target market for them?
It is always worthwhile for internationalization newcomers to focus their strengths and open up one market after the other. It is more promising to establish a sustainable market position in one or two markets with commitment, focus and persistence than trying to juggle too many markets simultaneously. One exception may be e-commerce, although it is still important here to consider local regulations and tax requirements in individual cases, even in the case of multinational intra-European sales via online platforms.
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we must determine in which countries the wrapping paper will have this kind of demand. In other words, you need to do a market assessment. , Then how to carry out market evaluation?
- Examine product trends. Look for information on your product as well as related products. The Department of Foreign Affairs and International Trade (DFAIT) has free market research reports for various countries in different industry sectors.
As one might expect, Western Europe constitutes the dominant export destination for Swiss SMEs. A company will initially begin by expanding into neighbouring countries, before exploring geographically and culturally distant regions such as North America, Eastern Europe, Asia and Central and South America.
Switzerland’s most important export market is and remains Germany, where according to surveys by S-GE around 80% of exporting companies export goods or services, followed by France with 62%. It is followed by Italy and the USA with 54% each and Austria with 53%. 47% of Swiss SMEs will export to the Netherlands in the next six months, 43% to China and the United Kingdom. Spain follows with 42% and Scandinavia with 41%.Research the competition. You need to know who your competitors are. This includes both foreign competitors and domestic. Google is a great resource, as are the reports published by DFAIT.
2.Analyze the market. Research any factors that may affect the marketing and use of your product. For example, does your product name have a different meaning in the local language, or do you need to change your sizing to suit the local market?
3.Identify barriers. You also need to know if there are any significant export barriers or import barriers. The most common export barriers are export controls for certain products. To check to see if there are any export controls for your products, check with the DFAIT’s Export and Import Controls Division. Import barriers could include significant import duties or import regulations for your product. You will need to check with the foreign country’s customs agency to determine what these may be. You can also check with DFAIT’s office abroad.
Start with geographically, linguistically and culturally close markets that you can reach with short trips, especially in neighbouring countries such as Germany, Austria, Italy and France or Spain, the Netherlands, Belgium or the United Kingdom.One country at a time: Begin with one market and focus on it until your business is stable before moving on to the next.Speak to other entrepreneurs who are already operating successfully in the target country. Your own learning curve may be eased by the experiences and assessments of others.