Scenario: Imagine you are a high powered international business consultant who has been retained by a major multinational corporation. (You can decide the product or business profile of this company) This corporation is thinking about expanding internationally and requires your expertise and advice about which market to choose for its expansion. Your mission is to research and recommend the best export product/international market fit for your client.
Some of the specific issues that your export market research report should cover include:
- Demand, growth and price trends for the product.
- Consumer purchasing habits and cultural practices.
- The extent of the competition and who are the main competitors in a specific market or region?
- Market characteristics in terms of size, distribution channels, production, what do they produce, how do they distribute, how do they communicate and what are their strategies?
- The size of the market itself. How many inhabitants are there? How is the economy doing and what about the investment climate?
A typical report can be structured this way:
1. The Product – demand for the product, price trends, consumer purchasing trends for this product
2. The Competition – extent of competition, SWOT analysis of main competitors
3. The Market – demographics of the market, operations in this market, geopolitical stability
4. Conclusion/Recommendation – summarize your findings, provide recommendations for a specific, targeted export market strategy for this company/product
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