If we could export more finished products instead of raw materials, we could become a middle-income country. ⁱ

—Yoweri Museveni, former president of Uganda, November 25, 2007

One of the most important aspects of growing your global markets is performing the same level of due diligence you exercise on domestic market research and narrowing your focus on the specific customer group in your foreign target market. The information that this process provides is invaluable, especially as you use it to generate an international marketing plan that ensures the profitability of your global expansion efforts.

You are probably aware of the type of person you’re trying to reach. Man, woman, young, old, employed, retired—the variables that can define your target audience are innumerable. You may think that a generic idea of your foreign target market is more than enough to build your business around, but in reality, it’s important to get as narrow a focus as possible when defining your target. This includes not only information about your potential customers, but also how your potential competitors are working to reach those customers as well.