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Market Characteristics
This section should contain a brief description of the qualitative aspects of demand in the market and, as far as possible, of the following market characteristics:
Example: Production and consumption of garlic is higher in Southern Europe than
in Northern Europe. In the South, the annual per capita consumption is
greater than 1 kg, while in the North, in spite of a high growth, it is
about 0.3 kg.
Large cloved garlic, particularly the 'white' and the 'purple' varieties,
is the most popular among European consumers. Consumers are generally very
quality conscious and are willing to pay higher prices for first choice
products. The demand for organic agricultural products, including garlic,
is developing. Most EU imports enter the market during the off-season,
from December to April.
Market characteristics for Garlic in the European Union
The market segment to be targeted determines price/quality relationships. To be taken into account are purchasing power of consumers, seasonal trends and features, etc.
Example:
Market charcteristics for Precious Metal Jewelry in Japan
The Japanese market is characterized by three principal purchaser groups:
the young adult, bridal, and traditional markets. Distinctive purchasing
patterns of these groups are:
Young adult market (15%): Young adults tend to prefer relatively
low priced items mostly under 50,000 yen ($485), and place more value on
design and fashion appeal. They also tend to be influenced by fashion
magazines, many of them have been exposed to jewelry by having traveled
outside Japan, and brand-name preference among them tends to be strong.
Bridal market (15%): The market is limited to engagement rings
for the bride, and wedding rings for the bride and groom. Consumers purchase
expensive engagement rings. It is a rule of thumb in Japan that the
cost of the engagement ring should be roughly equivalent to three months
salary of the groom.
Traditional market (70%): For these wealthy purchasers, jewelry
represents a prestige purchase, and retail prices tend to be high.
Purchasers place more importance on the value of the material used.
In most cases, they want to buy unique items unlike those of any other
person.
Source: USDOC, Market Research Reports, Japan - Precious Metal Jewelry,
1995.
Importers' requirements and conditions of acceptance of the product; as well as materials and technical specifications most in demand
Example:
Market characteristics for Switchgears/Motors/Engines in the United Arab Emirates
Purchasing of switchgears, switchgear motors and engines is not centralized
in the United Arab Emirates. To receive inquiries and invitation
to tenders, foreign manufacturers and suppliers must be pre-registered
with the individual Water & Electricity Departments in the country.
Following acceptance of a company's product specifications and standards,
the firms are placed in the bidders list. A good and active local
agent can help in this process. Local agents are particularly
Source: USDOC, Market Research Reports, United Arab Emirates -
Switchgears/Motors/Engines, 1995
essential to cover locally floated tenders.
- Information on the competition an exporter is likely to face from both local and foreign suppliers, and on the market "leaders"; as well as competition from similar items and substitutes
Example:
Market characteristics for Fruit Juice in Hong Kong
Source: FAS Online, Market Profile - Fruit Juice in Hong Kong Check list: Market characteristics emcompasse many different aspects that might need to be be mentioned. In order to include the ones applicable to the product being analyzed, please use the following check list.
Consumer segments
Consumer tastes Consumer attitudes Importers requirements Market segment Market competition
International
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Competition