A Model For Selecting Foreign Markets Preliminary Opportunities Country Priority Listings Probable Opportunities 1. Macro Level Research (General Market.

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Presentation transcript:

A Model For Selecting Foreign Markets Preliminary Opportunities Country Priority Listings Probable Opportunities 1. Macro Level Research (General Market Potential) Economic statistics The political environment Social structure Geographic features 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 3. Micro Level Research (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” 4. Target Markets Corporate factors affecting implementation Rejected Countries

Opportunity Matrix LMHLMH H M L Business & Political Risk Measured Over Time Market Opportunity

Market Stage Infancy Developing Mature (Types of after markets.) 1.Customers 2.Product Introduction 3.Distribution 4.Price 5.Competitive Strategies

Criteria Used in Choosing Entry Strategies External CriteriaInternal Criteria Market risk factor Competition in the market Political conditions Market conditions Future market potential Availability of desired distribution outlets Availability of venture capital Availability of know-how Time orientation Need for control Degree of internationalization Urgency of going international Ability to handle international risk

Entry Decisions: Strategic Parameters InputProcessOutput A strategic plan including: * Motivation(s) for entry  Decision rules for  * Mode of entry site(s) selection (risks control, legal issues) * Inventory of own* Operational and resources implementation programs * Inventory of competitors resources * Market intelligence * IP protection

International Market Entry – Funnel Approach Regional FocusMode of EntryRegional Focus The “Triad” Japan North America Europe Trading companies Exporting Licensing Manufacturing Joint Ventures Strategic Alliances Management Contracts Using an entry into one National marketing as a stepping stone for launching market Penetration into other markets Identification of A Lead Country (Function of the Firm Size) Emerging Markets Latin America Venezuela Argentina Brazil Columbia Chile 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, infant mortality, literacy rte, per capita GDP), Economic Performance (GPD, inflation, investment foreign trade and debt, etc., and Political and Economic Liberalization.

The Spectrum of International Business Involvement Inactive Exporting Proactive Exporting Licensing Franchising Turnkey Contract Joint Venture Management Contract Strategic Alliance Direct Investment Less involved More involved Contractual Relations/Arrangements