Assessing global market opportunities
ASSESSING GLOBAL MARKET OPPORTUNITIES
Global Market Opportunity
Global market opportunity refers to favourable combination of circumstances, locations, or timing that offer prospects for exporting, investing, sourcing, or partnering in foreign markets.
Global business opportunities include: marketing products and services; establishing factories or other production facilities to produce its offerings more competently or cost-effectively; procuring raw materials or components, services of lower cost or superior quality; Entering into collaborative arrangements with foreign partners.
Task 1.Organizational Readiness
One of the best-known tools is CORE(Company Readiness to Export) CORE asks managers questions about their organizational resources, skills, and motivation to arrive at an objective assessment of the firm’s readiness to successfully engage in exporting.
CORE also generates assessments on both “Organizational Readiness” and “Product Readiness.
Task 2.Product Suitability
Objective:
To conduct a systematic assessment of the suitability of the firm's products and services for international customers;
Evaluate the degree of the fit between the product or service and customer needs.
Criteria:
Assess the firm’s products and services with regard to: foreign customer characteristics and requirements government mandated regulations expectations of channel intermediaries’ characteristics of competitors’ offerings.
Product Suitability
Sell well in the domestic market. Those that are received well at home are likely to succeed abroad, especially where similar needs and conditions exist.
Cater to universal needs.
Address a need not well served in particular foreign markets.
Address a new or emergent need abroad
Issues that Determine Potential Product
Demand
Who initiates purchasing?
Who uses the product or service?
Why do people buy the product or the service? Where do consumers purchase the product or service?
Economic,
Global Market Opportunity
Global market opportunity refers to favourable combination of circumstances, locations, or timing that offer prospects for exporting, investing, sourcing, or partnering in foreign markets.
Global business opportunities include: marketing products and services; establishing factories or other production facilities to produce its offerings more competently or cost-effectively; procuring raw materials or components, services of lower cost or superior quality; Entering into collaborative arrangements with foreign partners.
Task 1.Organizational Readiness
One of the best-known tools is CORE(Company Readiness to Export) CORE asks managers questions about their organizational resources, skills, and motivation to arrive at an objective assessment of the firm’s readiness to successfully engage in exporting.
CORE also generates assessments on both “Organizational Readiness” and “Product Readiness.
Task 2.Product Suitability
Objective:
To conduct a systematic assessment of the suitability of the firm's products and services for international customers;
Evaluate the degree of the fit between the product or service and customer needs.
Criteria:
Assess the firm’s products and services with regard to: foreign customer characteristics and requirements government mandated regulations expectations of channel intermediaries’ characteristics of competitors’ offerings.
Product Suitability
Sell well in the domestic market. Those that are received well at home are likely to succeed abroad, especially where similar needs and conditions exist.
Cater to universal needs.
Address a need not well served in particular foreign markets.
Address a new or emergent need abroad
Issues that Determine Potential Product
Demand
Who initiates purchasing?
Who uses the product or service?
Why do people buy the product or the service? Where do consumers purchase the product or service?
Economic,