What is the target market?
All countries in which the entrepreneur can import and export his product and trade in foreign trade are included in the definition of the target market. In other words, it is the body of potential customers that both manufacturers and sellers can exhibit, market, and sell their products and services to.

In order to be both profitable and sustainable in retail, it is necessary to know exactly the needs and wishes of the target customers and to be able to proceed according to these requirements. The answer to the question of how to determine the target market in export is very important at this stage.

Of course, sales is the primary goal of this platform, but when choosing a target country, targeting regions with low competition, high profitability that are both sustainable over the long term and delivering results as quickly as possible will accelerate the delivery of results.

While it is not always possible to find a geography that promises all the criteria, achieving satisfactory results will not be difficult if the right planning and strategy is in place.

So how should the goal be determined? Let's take a look.
To do this, it is first necessary to assess the current situation from a broad perspective. You should not forget that you are not the only one producing.

There are your competitors and different countries who want to buy this product. In other words, 3 key dynamics in foreign trading platform can be listed as you, your competitors and the markets.

At this stage, you need to look for answers to a few questions. For example;

  • In which countries is your product most in demand and bought?
  • How big are the markets?
  • Are import markets growing?
  • To which countries does Turkey export the most and are there countries it does not export to?
  • Which are the competing countries?

The answers to these questions will lead you to the right market and determine the path to the target market. By answering these questions, you can assess yourself, learn about your competitors, and easily identify target country markets.

The fact that you are not looking for the right customer in the wrong market will be the key that will get you there.

In addition, knowing market prices, import tax rates, inflation, per capita income and similar criteria and using them in target market research will help you choose the right market.