Export Market Research, analysis & identify market potential.

Step by step finding export market

When you decide to Start Export business or you want to know How to start Export import business from India, you need to have Skills for successful export import business. It is then, that you can form good export marketing strategy. If you are new to Export import business, I would recommend you to read this, How to start export business, before you start Export Market research. You get here Tips to start export business. Don’t worry it is not one more blog about Export Document required to start exports from India, or Procedure to start exports. You must have read my blog about Steps by Step Guide for Product selection for export from India.This is the next step, Export Market Analysis. Where to export from India? Which county should l export my products?

In this blog i have used few snapshot for educational purpose: 

How to identify export market potential?

1. What is export Market size?.

1. Competitor Analysis.

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Export market survey is a tricky matter. I am not saying it is difficult subject. We make business simple. Once you study this you will find export market survey, very easy. You will be able to do Analysis of export market for any product that you select.

I assume you have selected Product to export from India after reading Criteria for product selection for export from India. If you have not decided product or shortlisted of product exported from India to Start export business, first select the product to export. Being Export consultant & Export advisor I get calls : I want to invest in Export product, with good potential to export. But without following proper step, it is difficult to Start export business.

I have learned the art of Export market survey, hard way. As an Export consultant, people ask question like: What if I select product and there is no big market? How can I find product for export from india with High profit? Should I check product export to USA; because my relative or brother lives In USA. I can invest in any product if, I am sure there is export potential.

TIP: Product with High demand will have equally, High competition.

So it is useless to do Product market survey & export market analysis before you find product or bunch of product for exports. You can screen 2-3 category of product and conduct brief market survey and then finally decide your product basket.

Example : After reading How to find product for export from India; you can decide to : start Leather shoes export and while conducting export market research; you may find Leather belt, Fabric Sport shoes, Laddies hand bag etc. also have good potential. You then have option of becoming Pure leather exporter or Exports of Footwear or Export of Women footwear and accessories.

TIP : Do not spend money on Registration of Company, IEC, RCMC, first you decide product & conduct brief market survey.

I have derived from my experience that Export market research is incomplete without, these two element. They are like two side of coin.

Although, this are large topic I will try to simplify and explain based on my understanding.

Export potential of product :

I want to know demand of my product in global market. How to identify potential export market? What is Country wise product demand? Which countries should I export products? Country with maximum demand in exports etc.

What is product & it’s application:

You can see now, we can not move ahead without knowing which product to export from India. Thankfully, you must have already decided by now what is your product. If you are still So, then check what is the application.

Macro Analysis of product to Export from India:

You will be surprised to know why I want to define the application. Normally, most of product are sold world wide. Application of Export products would play major role in Macro Analysis of Export market. Here are some example.

So now you know applications. It will help you narrow down your best potential market / List of countries with maximum export potential for your product.

I will share one Antithetic website to Macro analysis or any list of product exported from India. This below is snap short of website - This is World bank database - world integrated trade solution. This Export data for free is used by large corporate before entering any market or starting new product. 

I don't think you will get advice and reference of this High quality Export Data Import Data.  

https://wits.worldbank.org/Default.aspx?lang=en

Micro Analysis of product to be exporter from India :

1. Export Market analysis though Yellow pages & Business directory :

From Macro analysis you will derive minimum 5 to 10 highly potential countries, for Products Exported from India. Micro Analysis will give in-depth analysis in each country. It will tell you approx. export potential of product in the country.

How to Find buyers for exports, How many Importers of Textile / garments in Europe, List of Importers in Australia for your product. It will help you not only help you to find importers in Europe or any specific country, but also specific city like Find importer in Dubai. Right. Right now we will not collect exact name and address, contact details Buyers Data exporting country. To get genuine export buyers data, we will discuss in Lead generation for Exports. We will find Find Importer Data for export products, separately.

Right now, our focus should be to know, if there are enough buyer for our product in potential countries. Where do we find Importer in Egypt, Import in Europe , find importer in London etc.

You may think, thats obvious. What’s new in this. I can find list of buyers from yellow pages. This is age old technique. Hold on, If you want to change your direction, look from other side too.

TIP : Product that has higher demand in the country will have higher number of seller in business directory.

Remember, I said we are not going to collect Buyer Data. We are doing Micro analysis of Export market. So, we are looking for potential of countries we finalized in Macro analysis of export market. May be you can make a copy and keep it for future reference. We will discuss in Business lead for export. So, read on...

Study of yellow pages and business directory of each country. You can search the yellow pages for every website or I would share link at the bottom.

• Select yellow pages or Business directory of required country.

• Select the product you want to export.

• You will find list of companies selling product similar to you.

• THEY MAY BE SMALL TRADERS & Some of them could be importer.

• You may also find manufacturers of product to export.

Bingo!! Higher the sell more is demand for your product in the country.

I have given in the picture, an example of Packaging machine – 999 results, all trade mark of respective organization, this is just to educate you not for promotion.

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2. Export market analysis over Internet search:

While searching on internet you need to be little more smarter. Now days there are many website that appear on search engine but they don’t have much data. Exporters are thus frustrated as searching is some time waste of time.

Let me take example of Machinery Export or Pharma export or Agrochemical exports. We will do internet search for Packing machinery exports from India.

• You need to know the application of your machine and type of industries that use these machine. Eg. Pouch packing machine are used by dry powder, Potato chips, Fries etc.

• Now if you try to find Packing machine buyers in egypt or Packing machine importer in Egypt you may not get required result.

• You will get list of distributor, importer, mfg. Of the product Or you will get list of indian companies. But you will know know the Potential of exported product in egypt.

• Type in search engine “List of potato chip manufacture in Egypt” “List of fried snack manufacturer in Egypt”

• If your want to Export Casting from india, Export of Auto components, Plastic moulding machines etc. you search the application

• “List of automobile spare part distributor in Kenya” “List of Machine tool manufacturer in Italy” “List of Machinery manufacturer in Germany”

• For garment – Cloths used by Kenya etc. This will give you idea of type of material, design of cloths consumed in the country.

Now once you have list, you know how many user are available for your kind of product. Please note they may not be your direct customer. Remember we are just doing market survey.

Google search for finding user of the product

TIP : Finding user of product in the country. More the user more is demand for your product in that country

CAUTION : It is very important that you control yourself and DO NOT CONTACT ANYONE DURING YOUR MARKET SURVEY.

If, You are still not ready for Starting Export Business, it fine. When I say getting ready for starting export business, I mean you still have to Open company for Export Import business, Create website for exports, Find supplier for exporting product, Improve quality of product for export market etc. We are just check the Export market potential. If you do not get desired result, please let us know in comment section and we will try to help you out.

3. Market survey using website of Export promotion council.

To promote and facilitate the exporter, with export market intelligence and monitor growth in Indian exports, Government of India has set up Export promotion council and commodity Boards etc. To offer better assistance every product is related to particular EPC. Eg. APEDA is for Agri products, Apparel export promotion council for Garment, cotton textile export promotion council, Spice board of India for Indian spices, EEPC for engineering export and FEIO - for generalised exporters. Normally, the Export Agent, or Export consultant will tell you FIEO or xyz EPC has low fees so let us register with them. You can visit the EPC office or also visit their website. Being Export consultant & Advisor, specially working for Export business development, i look at the EPC with different view point. I have discussed in detail How to benefit from Export promotion council, i suggest you to read it. You will also get list of various EPC with updated contact details and website. Some brief activities are below:

• They collect export / Import data for each product segment. You can get this data to know largest export from India to which country. Largest Import from India to which country.

• Base on export data, most EPC award best exporter award, this increase your customer trust. You can know your competitor from India.

• This will be required to give you rating. Benefit of Star rating for Exporter can be discussed separately. This gives trust factor for gov. on your company and their is ease of exports.

• Publish members directory, list of registered manufacturer & exporter for products. This help you to know, who are your competitors. (You will know if you have read - Export market survey & Competitor analysis) 

• Merchant exporter can get list of good supplier for the product range.

• Each EPC has Trade inquiry that they receive on website or from Embassy etc.

• Export promotion activity - Exhibition, Buyer seller meet etc.

• Many EPC have publication, you are updated about market survey, update on government policy change, Free trade agreement etc.

APEDA - EXPORT DATA STEP 1

Select product, county you need data and year etc.

Fresh onion export data country & last 4 years

If you have read benefit of export promotion council, Export market analysis, Lead generation for exports, Find buyers for exports, Develop export business, you will get more input of how to start export business from india and make it profitable.

So now you know

1. What product to exported from India.

2. List of country with maximum exports from India.

3. Estimate of Export market potential in country.

please share your comments in comment section to give me idea for improvement. You can send me message though contact form or on sameerkachole@gmail.com, kachole@gmail.com 

You can also contact Vivaan Consultancy services, if you want a professional advice. It is always good to take 2nd opinion on your Export Business strategy. 

Good luck and prosperous business.

Get ready to see your Competitor who are already established: