SELECTING THE RIGHT PRODUCTS AND SUPPLIERS FOR IMPORTATION
Basis for selecting the product to import
- Passion for the product;
- Products in which the exporter has some knowledge and experience
- Products that solve problems (Identify a problem people face in an area in which you have some knowledge and experience and try to develop/design the product). It is quite common to produce and import the designed product from overseas). Regardless of their source or quality, imports must be redesigned to suit the given market in terms of size, color, shape etc.
- Need for the product in the market based on its sales in comparable markets
- Product quality. The general rule of thumb is that, if the product does not meet your standards as a consumer, then it does not meet the quality standard for importation.
- Products where you can create barriers to entry (by competitors) by offering certain services
- Building up the import business requires that you stick to a given product over a period of time. That is why you cannot sell textiles one year and computers the next year. Efforts to develop one product are wasted on other products that are sold on a temporary basis. It is good to start with a small product line to maintain a sustainable competitive position. (See also attachment)