Our own competitiveness (which is also related to our country’s competitiveness), the competitive power of competitors in the target market, the effects of the growth of the import market,the effects of this on us and its competitors and the subjective and specific understanding and goals and approaches of the firm that analyzes all this. These were defined as the main determinants of the target market choice. This simple scheme illustrates our basic approach in the target market theory.
HS Codes and matrix study
In order to start your target market searches, you need to find appropriate HS CODE for your product. The Harmonized Commodity Description and Coding System generally referred to as “Harmonized System” or simply “HS” is a multipurpose international product nomenclature developed by the World Customs Organization (WCO).
It comprises about 5,000 commodity groups; each identified by a six digit code (Ex: 63.01.10.00.00.00), arranged in a legal and logical structure and is supported by well-defined rules to achieve uniform classification.