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
government requirements and political stability. For each market. transport costs. international trade barriers. in view of local and international competition. competitive practice . buyer behaviour. media. local competition and the political situation. Size of markets. local competition. company experience
• Go international 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. compared to domestic opportunities. distribution channels. A ranking of world markets according to market potential.
region or a group of people that has significant potential to respond.
.International Market Selection Process
It is a process of evaluating various market segments and focusing marketing efforts on a country.
CRITERIA FOR PRELIMINARY SCREENING
• MARKET SIZE (present & future potential)
• ACCESSIBILITY TO INTERNATIONAL MARKET
TARIFF • PROFITABILITY
QUOTAS (EXPORT & IMPORT)
PRODUCT STANDARDS. PRODUCT TESTING PACKING. LABELLING & MARKING.NON-TARIFF BARRIERS
CUSTOM & ENTRY PROCEDURES
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