How can foreign trade salespeople quickly understand the market?
If you are not familiar with your industry soon after entering the industry, you can study more suppliers and manufacturers in the same industry, their respective product characteristics, advantages, disadvantages, technologies or processes used, and so on. The best-selling products, stable products, new products, and obsolete products in this industry will also have a better understanding of industry information by carefully sorting out 5-6 peers. If we go deeper, such as product structure, performance, and materials, we can go through the production line more and have more conversations with the technical and procurement masters, including purchasing. We can also gather a lot of information on what materials affect product prices. The market information of an industry involves too many aspects, and market information research and analysis can be challenging. Overall trade data, target market conditions, and development difficulty assessment For example, trade data, what is the total export and import volume of the product? What are the main markets? Which region is the best-selling? What is the export volume and import volume of a country you want to know? Is the sales of this product increasing or decreasing compared to the previous two years? In which countries has the export volume increased? Which declines? Which markets are experiencing an increase or decrease in product search volume? Target market information: economic situation, population base, per capita GDP, stability of exchange rate, degree of import dependence (trade activity), local import policy incentives or restrictions, well-known brands (see which brands are sold on dozens of distributor websites, then make a list of these brands and find their websites), local product prices, popular products in the local market, and marketing channels they promote, The types of customers we collaborate with, their business models, and whether there are any language barriers in developing the market.