Companies and Export

The idea to expand into the export market is not an overnight decision. When a company decides to engage into the international markets, there are numerous factors that need to be researched and analyzed, to the point of exhaustion. The process is extensive and tedious; however, the more work done prior to entering into the market to understand segment, the more likely the desirable outcome will be.

Significant factors that should be analyzed when research a market would be the nation’s current political environment, the economy environment, the total average income per individual, the nation’s infrastructure and capabilities of their distribution networks, and current competitors already penetrating the market. Possessing favorable conditions in all of these factors would likely make a specified product have great potential in another market outside the US.

In the past the top ten international markets for exports in North Dakota have been Australia, Belgium, Canada, Czech Republic, Germany, Japan, Mexico, United Kingdom, and Venezuela. However, according to the North Dakota Trade Office, in more recent times there has been significant growth within the markets such as Kazakhstan (127% increase), Korean Republic (112% increase), and Indonesia (207% increase).

Since we are focusing around agricultural driven products, I see Kazakhstan, Korean, and Indonesia as been countries where these market conditions exist. In the US our biggest competitor in agricultural commodities are Russia and South America. In all these three countries each of the US competitors has a presence. They are also nation which are on the early stages of emerging markets; therefore the market isn’t saturation.

Works Cited

A Basic Guide to