Market Strategies: Market Research

Are you looking for information on global trade in services? What market entry strategies should be considered?

• Sources of Market Information
• Priority Markets for Canada
• Market Types
• Market Entry Strategies

Sources of Market Information

• Canadian Company Capabilities
  It is a centrally maintained current searchable database of 50,000 Canadian businesses. Business profiles contain comprehensive information on contacts, products, services, trade experience, and technology
• Export Development Canada
  Export Development Canada (EDC) provides Canadian exporters with financing, insurance and bonding services as well as foreign market expertise. As a recognized leader in providing groundbreaking commercial financial solutions, EDC is constantly looking for new, innovative ways to serve its customers. At EDC, the door to exporting options is always open. There are always new markets to explore and new opportunities to seize. EDC's goal is to help Canadian companies, no matter how big or small, capitalize on all the exciting opportunities that exporting offers. Contact EDC at 1-888-332-4593 or visit www.edc.ca
• ExportSource.ca
  This site is Canada's most comprehensive source of on-line export information. It also serves as a point of departure for numerous non-government and private sector information sources.
• IFInet
  International Trade Canada's IFInet Web site provides Canadian exporters and investors with information on the procurement process and investment criteria of multilateral development banks, bilateral development agencies and United Nations agencies.
• Industry Canada – Sustainable Technologies and Service Industries Branch
  The Sustainable Technologies and Service Industries Branch of Industry Canada fosters competitive, knowledge-based Canadian service industries by providing client-focused delivery of innovative policies, services and products. Visit this site for an overview of Canada's service sector, or review information for specific sectors.
• International Trade Canada: Trade in Services
  Services 2000 is the gateway to Canada's trade policy vis-à-vis services. The site is designed to provide Canadians with information concerning international negotiations in the area of trade in services and to facilitate consultation and feedback with respect to Canadian objectives for these negotiations.
• SourceCAN
  A free e-marketplace that matches Canadian products and services with thousands of business opportunities posted by domestic and foreign corporations and governments.
• Statistics Canada
  Statistics Canada's site provides exporters with a wide range of statistical information and quantitative data to help them with their planning and research.
• Strategis
  Canada's Business and Consumer site. Strategis features a variety of market reports and is also a good source for a wide range interactive applications such as customizable benchmarking tools, cost calculators, and online business planning.
• The Canadian Trade Commissioner Service
  The Canadian Trade Commissioner Service (TCS) has a network of more than 500 officers in 140 Canadian embassies and consulates abroad. All trade offices provide the following six core services: Market Prospect, Key Contacts Search, Local Company Information, Visit Information, Face-to-Face Briefing and Troubleshooting.
• Virtual Trade Commissioner
  Become a client of the TCS, and register for your own Virtual Trade Commissioner - a free, personalized, password-protected Web page containing market information and business leads that match your company's identified international business leads. You can also request any of the six core services and be informed of new developments related to your industry in your target markets.

Priority Markets for Canada

Trade in services is an important and growing contributor to the Canadian economy and the economies of most of our trading partners. While the United States is the principal market for Canadian goods, Canadian services exports are more diversified.

In the mid-90's, Brazil, Sweden, Taiwan, Mexico, the Middle East and collectively - Indonesia, Malaysia, the Philippines, Singapore and Thailand, were the fastest growing service export markets for Canada.

Increasingly, Canadians are exporting their services to emerging markets like China, India and several countries in Eastern Europe as they prepare to join the European Union.

• Canada's International Market Access Priorities – 2004
  Outlines the government's priorities for improving access to foreign markets for Canadian traders and investors through a range of multilateral, regional and bilateral initiatives in 2004.

Market Types

Different market types require different approaches.

Market Type 1 - Fast-paced, competitive economies:

• Efficient service delivery, excellent quality assurance and a media profile are critical to success
• If you are not fluent in the language, you can work through a local partner to handle linguistic and cultural differences/challenges

Market Type 2 - Relationship-based, relatively affluent economies:

• Interpersonal communication skills, cultural sensitivity and linguistic fluency are critical for developing a business relationship with a local partner
• Relationships typically need to be developed first at a senior staff level

Market Type 3 - IFI-funded economies:

• Developing or economies in transition
• Market development takes time
• Flexibility and being politically astute are major requirements

Market Entry Strategies