Import/Export Product Market Research Worksheet

Remember that details and thoroughness make or break import/export ventures on a daily basis. As stated in other articles, entering the world of import/export is incredibly easy but succeeding in it is another thing all together and details are vital to your success.

One of the exercises that any exporter worth their salt should engage in before making a committment is conducting product market research. Creating a set of factors for evaulating a product’s potential in a certain market will help you make a decision about whether or not pursuing the next step is worth the time.

Here is a Product Market Research Worksheet you can copy, paste, and use time after time:

1. Name or description of product

2. What are the product’s selling features?

3. Are there competitive products? If so, list them.

4. Whare their selling features?

5. What is the sales potential of the product or service in my target market?

6. What are comparably priced goods going for in my target market?

7. Who will be the end user of the product?

8. Is the population of potential end users large enough to substantiate sales?

9. Can I expand the market, or will I be taking a share of the existing market?

10. Is the existing market large enough to share?

11. Which elements have the most influence on potential customers or clients? Price, quality, brand name, “imported” cachet, service, credit terms, delivery terms, advertising, or marketing assistance?

12. Where can I buy this product?

13. Will I need to have it manufactured?

14. If so, what is the turnaround time for manufacturing, and will this influence sales?

15. What will be my cost for the product?

16. What variables will affect pricing (special packaging or marking requirements, special shipping requirements as for perishables, other variables)?

17. What are the potential problems that will contribute to my price, such as end-user unfamiliarity with the product or service?

18. What are the potential benefits that can contribute to my price, such as high demand for the product or service?

19. What is the potential for licensing?

While this worksheet is obviously not all inclusive for your product research, it is a great starting point that should elicit a whole list of more questions as you work through it. Having a clear understanding of how your potential product and target market will integrate is invaluable knowledge in making a decision.

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