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International Market Selection

Country Market Factors


Product factors:
Specialized products like IBM
Supercomputers may not sell in Bhutan,
Burkinafaso
Degree of specialization-Pre & post sales
services
Position in IPLC


Market forces:
Nature of market,
Stability
Size
Uncertainty
Competition
Growth potential
Marketing Factors:
Marketing mix
Sales responses
Cost benefit analysis

Company factor:
Various perceived risks
SWs
Goals
Resources
Process of Market Selection
Market definition
Market segmentation
Measurability- size, purchasing power,
consumer behaviour
Accessibility
Profitability
Actionability(Country Matrix)
Country Matrix
*******************
*******************
******************
Invest/grow
*******************
*******************
******************
Dominant/Divest/
joint venture
00000000000000
00000000000000
000000
********************
********************
****************
Selectivity Strategy XXXXXXXXXXXXX
XXXXXXXXXXXXXXX
XXXXXXXXXXXXXXX
XXXXXXXXXXXXXXX
XXX

Harvest/Divest/Co
mbine/License
XXXXXXXXXXXXXXX
XXXXXXXXXXXXXXX
XXXXXXXXXXXX
XXXXXXXXXXXXXXX
XXXXXXXXXXX
XXXXXXXXXXXXXXX
XXXXXXXXXXXXXXX
XXXXXXXXX
Company
Attractiven
ess
High
Low
Competitive
strength
High
Low
Country Matrix: Invest/Grow
Countries:


Call for high level marketing commitments
large market can be tapped
Harvest/Divest/License/Combine
countries:

Countries attractiveness low
Growth in market share would demand
equal increase in marketing efforts, wiping
out any gains
Better to sell out
Follow a policy which minimizes the
investment till operations are abandoned


Dominant/Divest countries
High on attractiveness
Low on competitive strength
Develop competitive strength or sell out
Market analysis to reap benefits
Selectivity countries
Fall in the centre of the matrix
Companys position that can be built or
break
Limited resources to be used
meticulously/judiciously
Analysis of which segment to be catered to,
must be done
New products, Innovations, Technology
updation
Some strategies
Reactive vs. Proactive approach
Firms receive information about a foreign
market, respond in reactive mode
Such approach reflects absence of planning
Used by small or middle sized firms
Short term policy
Contrast- Proactive : Japan-Manufactured
defected parts(Lighter side)
Expansive & Contractible approach
Benchmark-Home or other market they are familiar with
Expand
Nearest neighboring market
Environmental proximity
Trade policy proximity
Temperature gradient approach-moderate-hot & cold countries
on the basis of seven variables(political Stability, Economic
development & performance, cultural unity, legal barriers,
physiographic barriers, geo-cultural difference)
Contractible-general market identified, then specific markets
evaluated against knock out factors
Geographic segmentation:
Geo-proximity-Japan & Vietnam, but
difference in economic status
One fully developed, another one less
developed
Demographic segmentation:
Population-Age, gender, income, education,
occupation
Different markets different market
problems
Psychographic segmentation-Attitude, values,
life styles
1. Top guns(Ambitious-show off)
2. Elitists( Old classy)
3. Bon Vivants (Thrill seekers)
4. Proud patrons (Brand loyalists)
5. Fantasists (Dont bother)

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