International Market Entry and Development Research Paper - 1

International Market Entry and Development - Research written report ExampleIncrease in the purchasing ability of the people is another important doer along with easy access. 1. Explain the process for market look for to assess foreign market potential. Market research is crucial before an entry is made into the international market. Research conducted should be realistic and complete. Market research helps in developing an efficient positioning. Overall the analysis should have complete information about the general economic conditions and the market information about the can market. Detail information about the foreign customers should be present related to whom the services and wares will be offered, detailed information about the segment and the niche. comminuted information about the suppliers working in that particular land and the details about how the supply chain is managed is also necessary. Also another important factor is the way and method of entering the foreig n market, the way we can enter the foreign market and reach to our possible customers. The approach is an collateral approach which is utilise an intermediary or an agent in order to enter the market or directly entering the market. Another way is through collective exportinging, craft house and consortium. 2. Explain the considerations for product alignation in foreign markets and commonapproaches to adjusting promotional strategy to fit foreign markets. It is important for the trustys to properly examine and adapt different market strategies once they enter the foreign market compared to the strategies they are already working with in the domestic market. The effect of these strategies on the performance of the soaked is also an important factor which needs to be analyzed. Marketing mix plays an important role here which once adopted is very useful as it is based on the previous adaption strategies of the firm .Firms need to evaluate the importance if these trade mix compon ent so that they can analyze and check the possibilities of the firms success in it. The promotional strategies are also checked and analyzed again as a proper set of strategies defines the firms competitive advantage which is the basic tool for a firms success and performance in the foreign market. Market expansion helps a country in a lot of ways from increasing the sale of its product or the services offered which then increases the revenue generated from the products. Expanded market is great for the product category and also it helps in increasing the generic needs. It overall expands the size of the customers budget and acquires a share from it. 3. Explain the strategic marketing planning process, strategies for entering foreignmarkets, and considerations for subsequent market expansion. There are various ways and options which a firm can use once it has heady to enter the overseas market. Factors like cost, risk, degree of control and revenue generation are few factors which are kept in mind before the lowest decision is made of entering the foreign market. A simple form of entering into the foreign market is exporting which is through direct or indirect methods which include using agents when a former, countertrade or the final exporting decision is made. Another way of entering into an international market includes joint ventures or export processing zones (Blackwell Reference Online, 2012) Export strategy needs to be finalized along with deciding the specific channels