Once you have decided to move into foreign markets, as a potential exporter you should carefully consider whether your company and its products are suitable for export, specifically:

• Is there anything unique about your product that will help to sell it? 
• Can you maintain a consistent standard of quality to meet the needs of foreign customers?
• Have you sufficient production capacity to meet  demand in both home and overseas markets? 
• If your product requires service or maintenance can you provide it in overseas markets ? 
• Can the product be adapted to meet differing foreign needs and tastes? 
• Will you need to have sales literature, handling instructions and/or service manuals printed in a foreign language?
• Can you cover the shipping costs and remain price competitive?

The answers to these questions will have a direct bearing on the selection of markets and on your export strategy.

If the product is basically similar to something already made or sold in many other countries, the chances of selling it abroad are slim, or you will have to spend a lot of money on sales promotion to penetrate the market.

Types of Market

There are basically two types of export markets, namely:

1. Those with broadly common needs and which can be satisfied with products needing only minor adaptations to meet local customs, cultures and regulations. 
2. Those which are highly culture bound and need extensive product modification to meet customer demand.

Even within markets with apparently high cultural differences, segments exist which are broadly similar to those of other countries - e.g. this accounts for the success of Irish companies such as Baileys and Glen Dimplex.

Back to Guide to Exporting