There are many domestic, foreign, and international sources of information concerning foreign markets. Several of these sources are given here and others may be found in the bibliography to this publication. This information ranges from simple trade statistics to in-depth market surveys.
Trade statistics indicate total exports or imports by country and by product. They allow an exporter to compare the size of the market for a product in various countries. Some statistics also reflect the U.S. share of the total country market in order to gauge the overall competitiveness of U.S. producers. By looking at statistics over several years, an exporter can determine which markets are growing and those that are shrinking.
Market surveys provide a narrative description and assessment of particular markets along with relevant statistics. The reports are often based on original research conducted in the countries studied and may include specific information on both buyers and competitors.
Sources fall into three broad categories:
Each category is also divided into several subgroups.
One of the best sources of information is personal interviews with private and government officials and experts. A surprisingly large number of people in both the public and private sectors are available to assist exporters in any aspect of international market research. Either in face-to-face interviews or by telephone, these individuals can provide a wealth of market research information.
In the private sector, sources of market research expertise include local chambers of commerce, world trade centers or clubs, and trade associations. Most state governments maintain active export promotion offices. In the federal government, industry and commodity experts are available through the Departments of Commerce, State and Agriculture, and the Small Business Administration (SBA).
Back to Developing a Market Plan
More about Exporting:
Introduction
Developing an Export Plan
Developing a Market Plan
Methods of Market Research
A Step-by-Step Approach to Market Research
Sources of Market Research
Export Advice
Methods/Channels
Making Contacts
Technology Licensing /Joint Ventures
Preparing Your Product for Export
Service Exports
International Legal Considerations
Shipping Your Product
Pricing, Quotations, and Terms
Methods of Payment
Financing Export Transactions
Selling Overseas
After-sales Service
