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Selecting Initial Markets
Evaluate conditions of potential markets to see if there are worthwhile opportunities for your business.

Selecting International Markets

Once you have completed your initial market research, and determined which markets have the best potential for your product or service, it is critical to review the steps needed to actually enter the market. 

Download Video: EB Selecting Initial Export Markets
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Regulatory, logistical, and cultural factors can all play a role in market entry. Some questions to consider include:

  • Are there any infrastructure/logistical factors which could make my product or service difficult to access for local consumers? 
  • If there is a language difference, how will you communicate with potential partners and customers? 
  • Are there any U.S. Export Controls on my product to this destination? 
  • Are there import requirements that may necessitate an alteration of my product? 
  • Once the market is entered, how will after-sales service be conducted, or customers’ questions addressed? 
  • How can you mitigate risk in case of shipping issues, non-payment, or other disputes? 

Additionally, it’s important to work with reputable partners to support your company in the export process, including a logistical provider, Customs Broker, attorney, accountant, and bank. As you create your market entry plan, the advice of these partners can help you save time and money and avoid potential issues. 

Finally, a reputable, reliable, and knowledgeable local partner can help make your market entry successful. Your local partner should be familiar with the import requirements, especially Customs clearance requirements for your product, and know the major industry players and/or potential customers. The local representative may also register your product for sale locally, and in some cases may then have rights to the product design/trademark, etc. Make sure you conduct due diligence on a partner and consult with an attorney to design contracts that protect your company. 

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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