Monday, Jun. 17, 2019

Understanding your product's potential in Europe

By Exportia Australia · September 22, 2015

The European market is thriving with business opportunities, but Australian companies are often intimidated by the cultural differences and barriers to entry. As an international consulting firm, Exportia helps small business in hi-tech industries increase their sales in the European market.

Exportia has created a “Go To Europe” framework for this process through its innovative 7 Pillar model, which includes factors like choosing the right country and developing effective marketing strategies. In the next few weeks, we will walk you through the stages of our framework, beginning with Product.

Pillar #1: Product

One of the major aspects in hi-tech industries is a product’s compliance. It is always easier to pass European certifications if the product has been evaluated at an early stage of development. For a company to become successful, it must have a strong understanding of its product positioning. What problem is the product solving and for which industry? Where does it stand among its competitors? How will it have opportunities to thrive in the marketplace?

A company should first test the uniqueness of its product in its home market. Since the world has become extremely globalized, it is very common that the product will have a niche in Europe as well. Entering the European market isn’t an easy feat, but a company’s greatest market may just as well be there. The best way to prepare is to conduct research and truly understand where a product stands in the market.

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