- To deterimine the growth potential of a market:
- Look at the last three to five years of import history for your product within a given market.
- Are the number of imports increasing or decreasing?
- Look at trends and growth forecasts.
- What do they tell you about the market and its potential for growth?
- Has it reached its peak?
- Is the market saturated with like products?
- Look at change in per capita income.
- Will their newly found disposible income create demand for your product?
- Consider the industrial development stage of your market.
- Markets beginning to industrialize may not have need for the latest technology.
- Some may leap ahead and skip steps in achieving technological progress.
© 2004 John Michael Pierobon