Market Selection in Terms of your business readiness and skills

Having researched the various markets and after establishing your businesses skills and gaps now it’s time to pull this together into an analysis that will help you make your final decision.
To do this we suggest a weighting table that will look at your business skills in terms of a potential market. This is an internal analysis of your business skills. It will assist in the decision-making process in terms of each market and will highlight both training and resource needs. Use this to be sure you are ready for your chosen international market. Planning is key to making a success of your new export market.
Good Luck!

Market Selection Readiness - Weighting Table

Markets

What skills do we have?

To the level of……

Current Resources *

Georgia

China

Japan

Germany

Australia

Language

Presentations, Tender Documents

Collateral Website

Preparing Presentations

Payment

Terms Quoted

Cost of Collection

Contract Law

Disputes

Due Diligence

Routes to Market

Direct to Customer

Indirect via 3rd Party

Logistics

Transport

Packaging

Insurance

Product Liability

Professional Indemnity

Marine

Compliance Issues

Export Controls

VAT

Documentation

Marketing

Local Issues

Customs and Cultures

This figure is then multiplied by the figure allocated to the specific country that the company is looking at trading with – this will give the weighting for the resource in that country and also when all the results are totalled it will show the best market to approach.

A score out of 10 reflecting the ease in which these tasks can be completed within the resources available to the organisation

A score out of 10 reflecting the ease in which these tasks can be completed within the considered market

Example table