9 Factors to Consider Before Selecting Export Product

"We have briefly discussed about the 9 Factors to be considered before your Product Selection.
Simply go through these factors for selecting a convenient product to export:

1. Statistical analysis
Analysis of the countries where India already exports the product that you want to trade.

2. Supply base
You should already have various options of the suppliers who can supply your product and work morw on your supply sources.

3. Production Capacity & Production Availability
There may be a point where you need to outsource the production if you do not have sufficient.
Keep in mind if the product is seasonal and whether you have enough storage facility.

4. Product Adaptability
There may need a to adapt the product according to the requirements of the current marketplace where you wish to trade.

5.Target Market
Make sure to target the right market where less competition is available along with less documentation work.

6. Servicing facility
Customer demand has reached another level and requires more facilities than ever. So make sure to provide after sales services to them.

7. Demand Stability
Demand keeps on changing so you must be able to cope with the present trends and make necessary modifications accordingly.

8. Trade Restriction
India signs Foreign Trade Agreement with various countries so you should be well verse with it and its restrictions.

9. Profitability
Most importantly you must calculate the sales, cost of production and profit margin which help you in figuring out the product from which you can earn the most.




Next Video will be on Factors Affecting Market Selection.

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