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Analysing International Opportunities - Coggle Diagram
Analysing International Opportunities
Four Steps in the market-and site-screening process
Step 2: Assess the National Business Environment
Managers must understand business environment before making market and site selection decisions.
Step 3: Measure Market or Site Potential
For
market potential
, managers must assess
the level of economic development
because it affects how the products are sold and their features.
For
site potential
, managers must assess the quality of resources they will employ locally.
Step 1: Identify Basic Appeal
For a potential site, determine the availability of resources.
Step 4: Select the Market or Site
Visit each location
to confirm earlier expectations.
Perform a
competitor analysis.
Undertaking a
financial evaluation
.
Difficulties of Conducting International Research
Comparability of data
Data obtained from other countries must be interpreted with great caution.
Cultural differences
Language is an important part of culture.
Countries with high illiteracy rates can force researchers to -conduct time-consuming verbal surveys.
Availability of data
Most
industrialized markets
have secondary data on product markets. But, in many
emerging and developing countries
, information can be
difficult to obtain
.
Secondary International Data
Industry and Trade Associations
Service Organizations
Government Agencies
Internet
International Organisations
Definition
: obtaining information that already exists. Its appeal is that it is relatively inexpensive.
Primary International Research
Definition
: the process of collecting and analysing raw data. It helps complete the big picture supplied by secondary data, but is costlier and time consuming.
Interviews and Focus Groups
Surveys
Trade Shows and Trade Missions
Environmental Scanning