Last week we discussed categories of buyers and their brief profiles. This week, we shall systematically look for sources of information in each category of buyers in your target countries. The objective is to compile a list of likely organizations that might buy your products.
Preliminary Market Research
Traditionally, this has been accomplished through trade delegation, participation in trade fairs, using trade directories etc. With the advent of Internet - exporters now have a wonderful opportunity to do preliminary market research in a much more focussed and inexpensive way.
Once you make a list of likely buyers in your target countries, next steps are pretty traditional involving time consuming promotion and follow-up work like:
- contact every one of the prospects through e-mail/tel/fax
Contribution of Trade Associations in Overseas Marketing
One primary source of valuable information for every category of buyers is trade associations. The associations are formed by businessmen in an industry segment primarily to lobby with Government regarding legislative and regulatory matters. In addition, they also undertake tasks that help their members in training and skill development, sales, quality control etc. Almost every association publishes books and journals - members' directory, business guide, Newsletters etc. which could be low-cost yet very effective advertisement medium for your products. Directory of members may provide list of prospective buyers.
The Internet is an excellent medium to identify useful Trade Associations in your target country. I have made a small compilation below - with the help of any good search engine you may discover many more. The list shows that trade associations can be very valuable source for every category of buyers - retailer, wholesaler, end-user etc.
Alabama Retail Association
Industry Specific Trade Associations
International Trade Associations
Pepper Community (IPC) (Brazil) (Spanish)
- Newsletter on Business Opportunties from India and Abroad
Vol: 2, Issue 32
January 17' 2002