Assessing and Analyzing Markets

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Presentation transcript:

Assessing and Analyzing Markets Chapter 14

Market Screening What is it? Environmental screening Two types of screening Country Screening

Initial Screening Basic need Foreign Trade and Investment Specialized product Less specialized product Foreign Trade and Investment Source UN’s International Trade Statistics Yearbook International Trade Administration Why can’t you look at imports?

Financial and Economic Screening Market indicators Survey of Buying Power Market factors Estimation by analysis Trend analysis Cluster analysis Periodic updating

Political and Legal Screening Entry Barriers Profit Remittance Barriers Policy Stability

Sociocultural Screening Difficulties Subjective Hard to get information How to get information?

Competitive Forces Number, size, and strength of competitors Their market share Their marketing strategies The effectiveness of their promotional programs The quality levels of product lines Their sources of products- imported locally produced Their pricing policies Their levels of after-sale service Their distribution channels Their coverage of the market

Final Selection Visit the Country Field Trip Government Sponsored Trade Missions and Trade Fairs Trade mission Advantages Trade fair

Final Selection Local Research Hire a local research group? Difficulties Cultural problems Questionnaires Social desirability Distrust Technological problems Mail Government rules Common Practices

Segment Screening Across nations Difficulties Definable Large Accessible Actionable Capturable

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