Factors Influencing International Market Selection & Segmentation
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Transcript of Factors Influencing International Market Selection & Segmentation
Factors Influencing International Market Selection & Segmentation
Internal Factors in Foreign Market Selection
• Personnel• Management • Customers• Capital Requirements• Social Assessment• Corporate Social Responsibility• Time and Research
External Factors in Foreign Market Selection
• Market potential• Market size• Market growth• Competitive intensity• Political environment• Legal environment• Economic environment• Culture• Infrastructure
MARKETING DECISION
• Go international or remain
domestic
• Which markets to enter
• How to enter target markets
• How to market in target markets
MARKETING INTELLIGENCE
• Assessment of global market and firm's potential share in it, in view of local and international competition, compared to domestic opportunities.
• A ranking of world markets according to market potential, local competition and the political situation.
• Size of markets, international trade barriers, transport costs, local competition, government requirements and political stability.
• For each market, buyer behaviour, competitive practice , distribution channels, media, company experience
International Market Selection Process
It is a process of evaluating various market segments and focusing marketing efforts on a country, region or a group of people that has significant potential to respond.
CRITERIA FOR PRELIMINARY SCREENING
• MARKET SIZE (present & future potential) Population Income• ACCESSIBILITY TO INTERNATIONAL MARKET
TARIFF NON-TARIFF BARRIERS
• PROFITABILITY
TARIFF BARRIERS
NON-TARIFF BARRIERS