A Model For Selecting Foreign Markets 1. Macro

A Model For Selecting Foreign Markets 1. Macro

A Model For Selecting Foreign Markets 1. Macro Level Research 3. Micro Level Research (General Market Potential) (Specific Factors Affecting the Product) Existing and potential competition Ease of entry Reliability of information Sales Projections Cost of Entry Probably product acceptance Profit potential Feel Economic statistics The political environment Social structure Geographic features Preliminary Opportunities 2. General Market Relating to the Product Growth trends for similar products Cultural acceptance of such products Availability of market data Market size State of development Taxes and duties

Possible Opportunities Rejected Countries Probable Opportunities 4. Target Markets Corporate factors affecting implementation Country Priority Listings Opportunity Matrix Market Opportunity L M H H M Business & Political Risk Measured Over Time L

Market Stage Infancy Developing 1. Customers 2. Product Introduction 3. Distribution 4. Price 5. Competitive Strategies (Types of after markets.) Mature Criteria Used in Choosing Entry Strategies External Criteria Internal Criteria Market risk factor Time orientation Competition in the market Need for control Political conditions Degree of internationalization

Market conditions Urgency of going international Future market potential Ability to handle international risk Availability of desired distribution outlets Availability of venture capital Availability of know-how Entry Decisions: Strategic Parameters Input Process Output A strategic plan including: * Motivation(s) for entry * Inventory of own resources * Inventory of competitors resources * Market intelligence * IP protection Decision rules for site(s) selection

* Mode of entry (risks control, legal issues) * Operational and implementation programs International Market Entry Funnel Approach Regional Focus Mode of Entry Regional Focus Identification The Triad of Japan North AmericaA Lead Country (Function of the Europe Firm Size) Trading companies Using an entry into one National marketing as a stepping stone for launching market Penetration into other markets

Emerging Markets Latin America Venezuela Argentina Brazil Columbia Chile Exporting Licensing Manufacturing Joint Ventures Strategic Alliances Management Contracts Pacific Basin China India Middle East Or various clustering schemes e.g. seekers vs. Climbers* Less Developing Regions *A popular clustering approach consists of criteria such as development level (urbanization, life expectancy mortality, literacy rte, per capita GDP), Economic Performance (GPD, inflation, investment foreign trade a etc., and Political and Economic Liberalization. The Spectrum of International Business Involvement Inactive

Exporting Proactive Exporting Licensi ng Franchising Joint Venture Turnkey Contract Strategic Alliance Management Contract Less involved Direct Investment More involved Contractual Relations/Arrangements

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