tailieunhanh - Identify / Select Foreign Markets

Largest markets for . Products are Canada, Japan & Mexico May or may not be best market for your product Then how do you choose? | Step 3: Identify / Select Foreign Markets 3 Largest markets for . Products are Canada, Japan & Mexico May or may not be best market for your product Then how do you choose? Market Selection Strategies Reactive – choose markets with demonstrated success Use past sales Past leads Competitive sales Participation in Trade shows Discussions with Industry Experts Proactive – choose market based on independent analysis Global Indicators Trade Barriers Tariff Barriers Non tariff Barriers Advantages/Disadvantages Reactive Strategy Reactive Strategy Pros Low cost, fast, low-risk, product need established Cons May lose first mover advantage Competitors may mislead you Market may not match your product’s life cycle Market Selection Model (Proactive) Develop indicators to assess market (s) Rate indicators Weight each indicator Compare countries Analyze results Market Selection Model Country Indicator 1 Weight Points Indicator 2 Weight Points Indicator 3 Weight Points Total Country 1 Country 2 Key – Identify Best Indicators Global Environment Indicators Demographic Macroeconomic Government Policies Environmental Industry Specific Indicators Suitable for Global Assessment (Figure Foley,2004) Demographic Indicators Population including growth and density Gender makeup Literacy rate Education levels Age distribution Per capita income and distribution Receptivity to products Social considrations such as religion, taboos, Language Indicators Suitable for Global Assessment (Figure Foley,2004) Macroeconomic Indicators GDP GDP growth Inflation rate Indicators Suitable for Global Assessment (Figure Foley,2004) Government Policies Import tariffs Currency exchange controls Non tariff trade barriers (technical standadrs, labeling requirements, documentation) Intellectual property rights protection (patents, copyrights, trademarks, trade secrets) Political risk (stability) Investment policies and protections Labor practices and restrictions Taxation Indicators . | Step 3: Identify / Select Foreign Markets 3 Largest markets for . Products are Canada, Japan & Mexico May or may not be best market for your product Then how do you choose? Market Selection Strategies Reactive – choose markets with demonstrated success Use past sales Past leads Competitive sales Participation in Trade shows Discussions with Industry Experts Proactive – choose market based on independent analysis Global Indicators Trade Barriers Tariff Barriers Non tariff Barriers Advantages/Disadvantages Reactive Strategy Reactive Strategy Pros Low cost, fast, low-risk, product need established Cons May lose first mover advantage Competitors may mislead you Market may not match your product’s life cycle Market Selection Model (Proactive) Develop indicators to assess market (s) Rate indicators Weight each indicator Compare countries Analyze results Market Selection Model Country Indicator 1 Weight Points Indicator 2 Weight Points Indicator 3 Weight Points Total Country 1 Country 2 .