What are the steps that an international manager employs when assessing a market or assessing a market opportunity? What is the process?
Expert Answer
Steps to assess international markets :
Country Identification
Depends on the product or service
Can be based on geographical location
More than two countries may be taken up at this stage for further consideration
Preliminary Screening
We begin to rank countries chosen in the first step
This can be on the basis of demographics, macro-economics, currency rates etc.
Political scenario needs to be accounted here
In-Depth Screening
Defining target markets or basis of various segmentations
Price sensitivity analysis
Micro-economic factors
Competitors and opportunities
Final Selection
Compare all factors
Match strategic goals
Compare
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