PRELIMINARY MARKET RESEARCH |
about foreign markets from the U.S. Commerce
Department’s National Trade Data Bank.
Get a list of
potential foreign buyers from sources such as
Export Yellow Pages, Commercial News USA, National
Export Offer Service, Trade Compass and the
Prepare a market
factor assessment of the economic, physical,
demographic, social and cultural conditions in
various areas, and look at market access and
product or service potential.
Contact the U.S.
Census Bureau for information and services it
Explore options for
promoting the product or service on the Internet.
Do some research on
the World Trade Organization and on trading
Learn about the
provisions of the North American Foreign Trade
PLAN THE MARKET ENTRY
Prepare a broad-based
international business plan.
Choose a market to
Obtain phone books
for the targeted market.
Study the business
etiquette of the targeted region (manners,
socializing, gifts and the acceptance of women in
Plan travel to the
targeted area through a travel agency with
knowledge of the region.
Brush up on necessary
foreign language skills.
Obtain the required
visas and travel documents.
Select a trade show
to introduce the product or services using the
U.S. Department of Commerce, Gale Research’s Trade
Show Worldwide or the Expo Guide Index.
Get ready for the
trade show by preparing a budget, designing the
demonstration booth and program, preparing price
quotes, scheduling personnel, making travel
arrangements and getting custom clearances.
ARRANGE FOR DISTRIBUTION
Assess whether the
most cost-effective and efficient entry to the
chosen market would be through a commissioned
sales agent, an export management company or
export trading company, a sales representative,
distributors, direct sales to consumers, licensing
or joint ventures.
offshore production makes sense.
standard clauses, penalties and protections are
necessary in contracts or agreements.
transportation, documentation and packaging
Choose a freight forwarder.
Ensure that shipments comply with
international commercial terms.
Investigate international insurance.
Make sure shipments will comply with
Obtain export/import processing
Determine whether special
certificates (certificate of origin, for example)
are required for products or services.
Obtain a merchandise passport
Find out what labeling is required to
ship overseas and in what language.
Learn about the metric system and
obtain conversion tables.
Establish pricing, financing and