One of the greatest mistakes made by companies entering the
export arena, is failing to divide up or segment the market they wish to enter.
It is of the utmost importance that a well defined plan of the intended market
including the customers to be targeted, must recorded.
One important aspect when outlining your market is to distinguish between buyers
and the end users of your product/s. In some instances the buyer could also
be the end user, but the buyer may be also purchase on behalf of the end users
for example: a Distributor.
The market/s chosen needs to be segmented into specific groups of buyers/consumers
and potential buyers in the said market. A segment is a group of buyers who
are similar to one another (and yet different from the rest of the market)
example: Professionals aged between 25 - 30 years. These segments should be
divided into the needs and wants of these buyers. The segment is only worth
pursuing when you can meet these needs and wants better than your competition
could. By finding a segment in which there is little or no competition, you
are more likely to have more chance of success.