Entering Overseas Markets
Entering overseas markets 1. Introduction
It's essential to research overseas markets before you start to market, promote and sell your product or service within them. By thoroughly researching your potential customers, competitors and the trading environment in each overseas market you will greatly increase your chance of success. You should also investigate practical issues such as route to market, logistics, regulation and local suppliers in your chosen market.
Deciding how to enter an overseas market will be a crucial part of your export strategy. Different research methods will be appropriate in different markets or for different types of product. Once you have identified your market, there are various ways of entering overseas markets. You can manage the process yourself - selling directly from the UK or setting up an operation in the target country. Alternatively, you can use an intermediary such as an agent or a distributor.
This guide contains basic information on the different ways of researching and entering an overseas market. For more information see our guide on preparing to export. 2. Researching customers and markets abroad
You will need to identify your potential customers and their needs, by considering the following factors: * Who will buy from you? Each marketplace is different. You may find that your overseas customers are in the public sector while those in your home market are small businesses. * What influences customers' purchasing decisions? This could include culture, age, gender and many other factors. Why do customers buy from you? See our guide on how to know your customers' needs. * What price can the product profitably sell for? This will influence your pricing and marketing decisions. See our guide on preparing to export.
Researching other countries When researching potential countries to sell to, you can find information from the following: * Find out about the support for selling outside
It's essential to research overseas markets before you start to market, promote and sell your product or service within them. By thoroughly researching your potential customers, competitors and the trading environment in each overseas market you will greatly increase your chance of success. You should also investigate practical issues such as route to market, logistics, regulation and local suppliers in your chosen market.
Deciding how to enter an overseas market will be a crucial part of your export strategy. Different research methods will be appropriate in different markets or for different types of product. Once you have identified your market, there are various ways of entering overseas markets. You can manage the process yourself - selling directly from the UK or setting up an operation in the target country. Alternatively, you can use an intermediary such as an agent or a distributor.
This guide contains basic information on the different ways of researching and entering an overseas market. For more information see our guide on preparing to export. 2. Researching customers and markets abroad
You will need to identify your potential customers and their needs, by considering the following factors: * Who will buy from you? Each marketplace is different. You may find that your overseas customers are in the public sector while those in your home market are small businesses. * What influences customers' purchasing decisions? This could include culture, age, gender and many other factors. Why do customers buy from you? See our guide on how to know your customers' needs. * What price can the product profitably sell for? This will influence your pricing and marketing decisions. See our guide on preparing to export.
Researching other countries When researching potential countries to sell to, you can find information from the following: * Find out about the support for selling outside