Identifying Export Product. IntroductionKey Factors in Products SelectionIntroduction A key factor in any export business is clear understanding and detail knowledge of products to be exported. The selected product must be in demand in the countries where it is to be exported. Before making any selection, one should also consider the various government policies associated with the export of a particular product.Whether companies are exporting first time or have been in export trade for a long time - it is better for both the groups to be methodical and systematic in identifying a right product. It’s not sufficient to have all necessary data 'in your mind' - but equally important to put everything on paper and in a structured manner. Once this job is done, it becomes easier to find the gaps in the collected information and take necessary corrective actions.There are products that sell more often than other product in international market. It is not very difficult to find them from various market research tools. However, such products will invariably have more sellers and consequently more competition and fewer margins. On the other hand - a niche product may have less competition and higher margin - but there will be far less buyers.Fact of the matter is - all products sell, though in varying degrees and there are positive as well as flip sides in whatever decision you take - popular or niche product. Key Factors in Product SelectionThe product should be manufactured or sourced with consistent standard quality, comparable to your competitors. ISO or equivalent certification helps in selling the product in the international market.If possible, avoid products which are monopoly of one or few suppliers. If you are the manufacturer - make sure sufficient capacity is available in-house or you have the wherewithal to outsource it at short notice. Timely supply is a key success factor in export businessThe price of the exported product should not fluctuate very often - threatening profitability to the export business. Strictly check the government policies related to the export of a particular product. Though there are very few restrictions in export - it is better to check regulatory status of your selected product. Carefully study the various government incentive schemes and tax exemption like duty drawback and DEPB. Import regulation in overseas markets, specially tariff and non-tariff barriers. Though a major non-tariff barrier (textile quota) has been abolished - there are still other tariff and non-tariff barriers. If your product attracts higher duty in target country - demand obviously falls. Registration/Special provision for your products in importing country. This is specially applicable for processed food and beverages, drugs and chemicals. Seasonal vagaries of selected products as some products sell in summer, while others in winter. Festive season is also important factor, for example certain products are more sellable only during Christmas. Keep in mind special packaging and labeling requirements of perishable products like processed food and dairy products. Special measures are required for transportation of certain products, which may be bulky or fragile or hazardous or perishable.Table of ContentsChapter 1 Starting Export IntroductionChapter 2 Basic Planning For ExportChapter 3 Identifying Products For ExportChapter 4 Market SelectionChapter 5 SWOT AnalysisChapter 6 Registration of ExportersChapter 7 Export LicenseChapter 8 Myths About ExportingChapter 9 Export Sales LeadsChapter 10 Exporting Product SamplesChapter 11 Export Pricing And CostingChapter 12 Understanding Foreign Exchange RatesChapter 13 Appointing A Sales AgentsChapter 14 Export Risks ManagementChapter 15 Packaging And Labeling Of GoodsChapter 16 Inspection Certificates And Quality ControlChapter 17 Export DocumentsChapter 18 Custom Procedure For ExportChapter 19 Invisible ExportChapter 20 Export To SAARCChapter 21 Export To CISChapter 22 Organisations Supporting Exporters
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 19-09-2019 Apples rot in Kashmir orchards, as lockdown puts economy in tailspin Date: 19-09-2019 Fitment panel rejects GST rate cut for auto, biscuits Date: 19-09-2019 Boosting exports: Standards matter more than schemes Date: 19-09-2019 Govt scraps import duty on open cell TV panel to boost manufacturing Date: 19-09-2019 Rupee stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices Date: 18-09-2019 Parle fears losing business to unorganised biscuit makers if GST not cut Date: 18-09-2019 Aim is to take economy to $10 trillion by 2030: Rajnath Singh Date: 18-09-2019 MSMEs’ overall export credit cost to be reduced with new loan scheme for exporters, says FIEO Date: 18-09-2019 Handset, electronics companies seek sops for export edge Date: 18-09-2019 Finance ministry scraps import duty on open cell LED TV panel What is New? Date: 19-09-2019 Date: 17-09-2019 Notification No. 30/2019-Customs Seeks to amend notification No. 50/2017-Customs dated 30.06.2017 to reduce basic customs duty on Open cell (15.6” and above) for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels and certain goods for use in the manufacture of Open cell of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels. Date: 14-09-2019 NOTIFICATION No. 37/2019-Customs (ADD) Seeks to impose the definitive anti-dumping duty on the imports of "Electrical Insulators" originating in, or/and exported from China PR. Date: 14-09-2019 NOTIFICATION No. 36/2019-Customs (ADD) Seeks to rescind notification No. 11/2015-Customs (ADD) dated 11th April, 2015. Date: 13-09-2019 Notification No. 64/2019-CUSTOMS (N.T.) Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg Date: 13-09-2019 Public Notice No. 33/2015-2020 Annexure I to Appendix 2A revised. Date: 13-09-2019 PUBLIC NOTICE NO. 32/2015-2020 Enlistment under Appendix 2E of M/s Expo Overseas Entrepreneurs Association (EOEA) Indore Madhya Pradesh- Authorized to issue Certificate of Origin (Non-Preferential)- reg. Date: 13-09-2019 Notification No. 65/ 2019-Customs (N.T.) Amending Notification No. 12/97-CUSTOMS (N.T.), dated the 2nd April, 1997 so as to include Barhi, Distt Sonepat, Haryana Date: 13-09-2019 Circular No. 31/2019-Customs Revised Norms for Execution of Bank Guarantee under Advance Authorisation, DFIA and EPCG Schemes Date: 12-09-2019 Notification No. 43/2019-Customs (N.T./CAA/DRI) Appointment of CAA by DGRI -reg.
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