To decide on the right marketing strategy to sell his product in Turkey, an entrepreneur needs to gain an insight in local customer behaviour and trends.
Here, too, BST can be of assistance, by investigating and mapping out the following aspects:
- Volume of the sales market: the number of potential buyers and the composition of the total demand, itemized into initial, replacement and additional demand.
- Developments on the market in recent years and the prognoses for the coming years.
- Selling prices of the product on the sales market.
- Volume of the supply market and the suppliers’ collective capacity.
- Any other information required for the import of the goods into Turkey.
- Possible storage and distribution facilities –rental rates, required permits, availability.
- Analysis of the geographic location of the enterprise with regard to the market; what influence does available storage space have on transport costs?
- Advice on the locally prevailing terms of payment– a major point of attention, because in Turkey it is quite common to pay in instalments.
- Advice on dealing with currency fluctuations.
- Analysis of opportunities as well as threats in the sector.
- In case public bodies are among the targeted buyers, specific advice is required, as special rules and regulations may apply.
- Inventory and analysis of demographic, economic and social properties of potential customers.
- Inventory of applicable customs and tax levies in the sector, branch of industry or product, with a view to the effect they can have on costs and profit margin.
- Inventory of any current regulations or permits or licences serving to protect domestic manufacturers, or any quota regulations for the specific product.
- Inventory of any stimulation measures and subsidies applicable in the sector and the potential geographic location of your business.
- Advice on the best option to sell your product(s): through a distributor, an agent or a trading or export management firm.