FITT International Trade Competency Framework
DRAFT
Keep the following in mind as you review the document.
Ask yourself, do you need this skill to conduct International Trade? If the answer is no, please tell us.
If it does apply, are the performance and knowledge statements: Accurate? Complete? Realistic? Meaningful? Logical in Structure?
Finally, does anything need to change, or is anything missing?
Please return the reviewed document to Calum MacDonald, cmacdonald@cthrc.ca.
This document is in a formative stage and intended for consultation purposes; it is not complete and may contain inaccuracies. The document is not intended for
general distribution.
REFERENCE NUMBER
1.2
CATEGORY
FEASIBILITY OF INTERNATIONAL TRADE
SKILL
Conduct Situational Analysis
SUBSKILL
2. Evaluate the international market
PURPOSE
Evaluating the international market allows the enterprise to assess whether a target market logically
and realistically fits with the overall organizational strategic direction, if market entry is feasible, and to
what degree the enterprise will be successful in its venture.
PERFORMANCE
Competent practitioners must:
P1.
P2.
P3.
P4.
Collect sector-specific data that illustrate product or service exports to various target
countries/markets
Identify the fastest growing markets for product or service and examine long-term trends (where
available) to determine:
 consistency of market growth on a year-to-year basis
 import growth or decline during periods of economic recession (as well as recovery)
 smaller emerging markets that may have potential
Evaluate potential market(s) and costs associated with market entry by:
 attending sector-specific networking opportunities
 planning for market entry costs including: research, sales and marketing, accounting, contract
administration, bid/proposal preparation and submission
 considering regulatory compliance issues, taxes, employment and labour laws within target
market(s)
 planning for additional costs associated with target market(s) government requirements, e.g.
increased taxes, insurance requirements, personnel requirements
Assess customer needs within target market(s):
 research purchasing practices of consumer bases within target market(s)
 identify which purchasing centers buy their product or service
Document1
© FITT
Page 1 of 2
P5.
P6.
 review market specific reports, e.g. from trade commissioners within the target market(s) to
identify purchasing trends
Review trade agreements relevant to potential target market(s)
Seek council of experts (e.g. service agencies) when possible to access specialized knowledge and
expertise
KNOWLEDGE
Competent practitioners must know:
K1.
K2.
K3.
K4.
K5.
International Commercial Terms (Incoterms)
Laws of target market(s), e.g. intellectual property, patents
Political and economic environment of target market(s)
Cost evaluation methods
Sources of information for international trade, e.g. trade officers, annual business reports,
company/regional diversity programs, industrial regional benefit programs
VARIABLES, RANGE OF CONTEXT
Competent practitioners may need to work with the following variables:
V1.
GLOSSARY
Target market – is a group of customers toward which an organization has decided to aim its marketing
efforts and ultimately its products and services. A well-defined target market is the first element to an
overall marketing strategy. The marketing mix variables of product, place (distribution), promotion and
price are the four elements of a marketing mix strategy that determine the success of a product or
service in the marketplace
CITED SOURCES
1. Government of Canada. Evaluating Market Potential.
(http://www.canadainternational.gc.ca/sell2usgov-vendreaugouvusa/procurementmarches/market-evaluation-marche.aspx?lang=eng)
2. Canada Business Network. International Market Research.
(http://canadabusiness.ca/eng/page/2702/)
3. Wikipedia. Target Market. (http://en.wikipedia.org/wiki/Target_market)
Document1
© FITT
Page 2 of 2