Define market potential

To research the size of a market look for:

  • the size and age of the population
  • the country’s GDP and average disposable income
  • the amount and value of similar products or services
  • imports of similar products or services
  • the number of online searches for your products or services

To research market attractiveness look for:

  • trends in sales of similar products over a number of years
  • trends in consumer spending over a number of years
  • barriers to entry such as tariffs and duties
  • the ease of doing business including language and cultural differences
  • the perception of corruption and risk ratings

Find market potential information

Online resources for market size include:

Online resources for market attractiveness include:

Compare markets to pick the right one

Gather the same information for each country into a market weighting table. This should make it easy to get a comparative score for size and attractiveness making it clear where the potential demand is and which markets will be easier to enter.

Get bespoke market information

Having selected a country based on desk research, you’ll need specific information about the country and your product or service. Focus on:

  • competitor activity in your chosen country
  • customer behaviour, motivations and preferences
  • the best ways to bring your product or service to market

Be prepared to spend more time and money on this stage of research. It can include desk and field research. Field research involves visiting the country so can be costly.

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