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Relationship between chapter 9,10, 11 - Coggle Diagram
Relationship between chapter 9,10, 11
PEST
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Economic- is the economy stable? Is there a market opportunity for the product or service you are penetrating with.
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Social- How is the culture and social norm of the people? What are their believes and how welcoming or curious are they when it comes to international products and services.
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Technological- What is the level of advancement in technology in the prospective market. Is the technology and expects available at your disposal?
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To enable the business penetrate the international market, they should define themselves in terms of size. are they a start up, established or looking to sell out.
Research for opportunities outside your niche. Is there a need (gap) in the market you are looking to enter before developing a business plan.
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What is the difference in the geographical nature of the market. With difference in climate, will the business thrive in certain weather conditions along with the level of acceptance.
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