Many sources of information on countries are available to help you with your market research. This will allow you to assess the potential of your product and/or service and target your priority markets.
Canada Business Network
The three basic steps of international market research are screening markets, accessing their potential and drawing conclusions.
Global Affairs Canada
Go beyond the dos and don'ts with Global Affairs Canada Country Insights.
Export Development Canada (EDC)
Canada has signed a number of free-trade agreements with foreign countries. This trade network gives Canadian companies preferred access to markets all over the world.
Market potential is influenced by local and international competitors. Perform a competitive assessment to understand the market, to prepare and then adapt. Identify direct and indirect competitors. Collect and analyze commercial data by visiting company websites.
An analysis of your company’s Strengths and Weaknesses should be a key component of your strategic planning process. This easy-to-use tool also identifies your company’s Opportunities and any Threats it faces (hence the term “SWOT”).
International trade fairs are an excellent source of information on the local market, the competition and the expectations of targeted customers. It is also a great way to network and forge relationships.