It is rightly said that cost, demand and competition are the three key factors that determine success of a trading business. To attain a distinguished position in international market, you should be able to source products at such a cost which is better than your competitors. This is because production cost is considered to be the most vital part which determines the success or failure of any trade business.
The factors that play critical role in trading are:
Besides all this, a practical approach in product selection is a must. The key factors, determining the product selection, are listed below:
There is no exact way out - one should check various alternatives and take a decision that provides better sourcing solutions. However, the cost factor should be considered as the most crucial criterion in this. It is necessary to perform homework before finalizing a competent source of products.