Target market should be selected after careful consideration of various factors like political embargo, scope of exporter’s selected product, demand stability, preferential treatment to products from developing countries, market penetration by competitive countries and products, distance of potential market, transport problems, language problems, tariff and non-tariff barries, distribution infrastructure, size of demand in the market, expected life span of market and product requirements, sales and distribution channels.
For this purpose you should collect adequate market information before selecting one or more target markets. The information can be collect from various sources like Export Promotion Councils (EPCs)/ Commodity Boards, Federation of Indian Export Organisation,(FIEO), Indian Institute of Foreign Trade (IIFT), Indian Trade Promotion Organisation (ITPO), Indian Embassies Abroad, Foreign Embassies in India, Import Promotion Institutions Abroad, Overseas Chambers of Commerce and Industries, Various Directories, Journals, Market Survey Reports etc.
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