The lure of exporting is it can be started with little capital but requires good follow-up, nurturing overseas relationships and meeting requirements of the export contract or letter of credit. Besides possessing these attributes a solid indicator that your product will be successful in another market is if it has received some measure of success in the domestic market.
Good indicators that your product will do well in a market outside of your own is:
- Need
- Price Advantage over foreign products, taking into account tariffs, shipping cost and other hidden fees
- Technological advantage
- Technology perceived not advanced in your market, may be perceived as advance in others
- Superior quality or design
- Provides a new type of trend or style
- New product or invention
- Market where the product or commodity is in shortage