After the obtaining data and put them into same table, its time to choose target markets. Finding data is not enough, you must evaluate and comment these data too. If not, they are just numbers and digits.
Our suggestion is to score each country for each parameter. As you can see below, you can use weighted scoring method to choose countries.
There are lots of elements to make scoring or to determine target countries. And these are depending on people’ choice. In our studyings, we most using following performance elements (parameters) for each country;
- Product Importing value in a year
- Product Importing value change in 1 year (Last year)
- Product Importing value percent change in 1 year (Last year)
- Product Importing value percent change in 5 years (Last 5 years)
- Product balance of foreign trade
- Product Unit Price
- Product Customs tariff in relevant country
- Product buyers’ distance to suppliers and Turkey
- Competetiveness of markets
- Ease of doing business