Dec 5, 2014

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Is Your Business Prepared for the European Market?

The rise of the Internet and improved global communications means that for many businesses entering the international marketplace is now a realistic and potentially lucrative objective. Unfortunately breaking into foreign markets, particularly in Europe, isn’t simply a case of advertising your product and waiting for customers to start buying; from ensuring there is a demand for your goods and services to finding businesses located abroad who are suitable to partner with your organization, there are a number of important considerations which need to be addressed in order to maximize the chances of overseas success. Read on to discover some of the key areas in which your company will need to acquire significant European market research knowledge in order to make their international dealings in Europe both sustainable and profitable.

Know Your Market
Prior to commencing sales abroad, it’s crucial you have sufficient knowledge of the current and potential market for your products. European market research which identifies gaps in current provision, potential demand for your goods and intelligence on what your preferred client group are saying they want can all form a strong platform on which to build your European sales.

 Find the Right Partners
Whether it’s identifying local suppliers which can provide the raw materials you need in a more cost-effective manner than is possible at home, or you are looking for reliable companies to which you can out-source part of your operations, finding the right businesses to work with in Europe can be a challenge. European market research by Export Market Research Ltd is a good example of a company which can help to make those important linkages, putting you in touch with reputable, trustworthy partners can make a critical difference to your company’s European success.

 Research Legalities and Tax Implications
The European legislation which governs production and marketing is extremely complex, so ensure you get expert assistance which is specific to your area of business. In many cases the law can govern not only what you actually produce, but also your company’s structure, methods of working and export policy. Even within the European Union, legislation can vary considerably between individual countries, so ensuring you’re aware of local requirements is imperative.

 Don’t Forget Cultural Differences
There are considerable variations in customer expectations depending on the European country under consideration, as well a number of differences in the way in which European businesses operate in comparison with those from the US or elsewhere. Finding a reputable source of information on these matters can do a great deal to raise cultural awareness for staff who will be involved in your European market, ensuring they can work easily and amicably with foreign customers and European businesses.

If you’re struggling to access the local knowledge you need to ensure your European venture works well, then Export Market Research Ltd is a great organization to use in order to obtain suitable market intelligence. Providing detailed information on everything from European Markets to potential business partners, this company is a valuable resource for any organization that’s looking to expand into Europe.

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