More than 70 percent of the world’s purchasing power is located outside of the United States. Your competitors are increasing their global market share, and you can too. Exporting can be profitable for businesses of all sizes. On average, sales grow faster and more jobs are created. Market Research can help your company determine new markets to sell your product and provide country specific information so you can be successful in this new market.
Cost: $50 per company
Information that can be found in a Market Research Report:
- Introduction– General Outlook and Economic data is given for each market chosen.
- Market Analysis – A Trade Database is used to identify which countries are importing your HS code to discover possible markets for your product.
- Tariff Data – Once possible markets are chosen, tariffs and duties are checked. Also I check to see which countries have a Free Trade Agreement with the U.S. This lets me know which markets this product can affordably enter.
- Doing Business In– The World Bank database is checked to determine where a country falls in the Ease of Doing Business chart. Demographics of each market/country are included to determine the median age of the population. This information can help determine how to market the product or if the product is a fit for this market.
- Industry/Trade Associations– Chamber of Commerce, Business Associations and Trade Associations, whether they are domestic or international are identified. These are good sources of on-the-ground information.
- Competitors– Competitor information is used to determine what markets they are in and to try to determine their entrance strategy and/or marketing strategy competitors are using.
- Business 2 Business Connections-Search a subscription database of international and domestic companies; identify any possible distributor or reseller connections for your product.
- Industry Trends– An Industry search is done to determine emerging trends.
- Certifications/ Standards – Identify any Product Certification or Standards for the product being imported.
- International Market Assessment – When Market Research is complete, a request for an initial assessment from our Foreign Service colleagues in US Commercial Service on opportunities for your product in the top two or three markets.
For More Information, Contact:
Market Research Specialist
CT District Export Council
213 Court Street
Middletown, CT 06457
This Market Research will be facilitated in collaboration with the US Commercial Service and the CT District Export Council. All information is obtained using secondary market research sources, such as online subscription databases and Internet searches.