How to select the target market for the products we want to export using statistical data?
The first stage in international marketing is to identify the right market where the exporter can sell his product profitably because one market differ from one another and a person cannot sell his product in all the market of the world. He has to segment them in such a way that he may be able to meet the requirements of the market.
Lots of people tell you to find your target market, but few tell you how. You find the answers to these questions in Export Indicator.
Export Indicator is based on the Harmonized System.
The system of classification called Harmonised System (HS) was developed and is maintained by the World Customs Organization (www.wcoomd.org). The HS number is an international product class identification number. It is used mainly for customs classifications and collecting world trade statistics. The HS classification number consists of 6 digits. HS codes must be stated in shipping documents.
Using the link below determine the HS Code for your products:
Understanding Harmonised System
- Internationally Standardized system of names and numbers used to classify traded products
- Administrated by the WTO
- Enforced by World Customs Organizations
- 16 Sections
- 99 Chapters
- Each chapter heading is broken down into Group Levels (HS 4) and
- Product Levels (HS 6)
- 6 digit HS codes are standardized across the world
- 8 and 10 digit HS codes are country specific
Report # 1: Export Indicator [World Statistics]
- TOP 50 import markets for products by HS code for 2016 [deﬁnes global market potential by country]
- TOP 50 export markets from your domestic market of a given product after its HS code with its ﬁve-year sales statistics [deﬁnes the possibilities and directions of selling the product from your domestic market to foreign markets]
The cost of report is 150 EUR net for ONE HS CODE and export statistics of YOUR COUNTRY to TOP 50 importing markets.
Report # 2: Export Indicator [Market Statistics]
- TOP 50 markets exporting products by HS code to a selected market
These statistics will allow you to determine:
- global competition,
- which countries are exporters to the market we are interested in.
Such data often corresponds to the question whether the determinants of purchasing are, for example: geographic proximity, price, common market or language of communication.
- Top 50 markets importing products of hs code from a selected market. These statistics will allow you to determine:
- internal competition, (where there is strong internal competition on the market, the statistics show overproduction of the products concerned, therefore their exports to foreign markets). In cases where the export data from a given country overlaps with imports, we may assume that the markets are strongly intertwined, for example through investments (where the production takes place for the needs of the foreign investor or the product is subjugated to the contracting authority).
The cost of report is 75 EUR net for ONE HS CODE on ONE selected market with trade statistics for last 5 years.