Market attractiveness assessment and entering- How would you enter a market?

Environmental Scanning
1. Increase in secondary data
  1. Data vs Knowledge
Market Screening
1. Basic
  1. Is there a demand?
  2. Use Import data and other sales data as a guide
2. Economic \ Financial
  1. Market Indicators
    1. Market Factors
    2. Market Size
    3. Market growth rate
    4. Estimation by Analogy
    5. Trend Analysis
  2. Growth \ GDP
  3. Interest rates
  4. Payment habits
  5. Exchange Rates
3. Political \ Legal
  1. Entry barriers
    1. Entry enablers - Enterprise Ireland
  2. Profit Remittance Barriers
  3. Policy Stability
    1. N 11 MKIT
4. Sociocultural
  1. Subjective, hard to define
  2. CSR policy?
5. Competitor Analysis
  1. Number, Size, Financial Strength
  2. Market Shares
  3. (Marketing) Strategies
  4. Quality Levels
  5. Production Sources
    1. Local
    2. Imported
  6. Pricing Policy
  7. Level of After Care
  8. Distribution
  9. Market Coverage
  10. Strategic Canvas
6. Final decision
  1. Make Personal visit to Market
    1. Trade fair
    2. Govt Trade Misison
    3. Unhurried Field Trips
      1. Face to Face Interviews
  2. Hire local research groups
  3. Hire Local Project Manager
    1. Experience of same area or culture
    2. Experience in your company or industry
Entry Modes
1. Equity
  1. Wholly Owned Subsidiary
    1. Full ownership
    2. Greenfield Site
    3. Less Likely (export jobs)
  2. Joint Venture
    1. IJV
  3. Merger \ Acquisition
2. Equity or Non Equity
  1. Strategic Alliance
    1. Reduced competition \ Collusion
3. Non Equity
  1. Licensing
    1. Access to patets \ tech
    2. Royalties paid (2-5%)
    3. Patent Laws being enforced
  2. Franchise
    1. Franchisee
      1. Brand
      2. Procedures
      3. Suppliers
    2. Franchisor
      1. Retain rights on strategy
  3. Turnkey
  4. Exporting
    1. Little investment
    2. Low risk
    3. Indirect through agents
    4. Direct (easier www)
  5. Contract Manufacturing
Type
1. Pioneer
  1. Gains market share advantage
  2. May not perform as well as followers long term
  3. Successful when high barriers exist, strong resources
2. Follower
  1. Many by default
  2. Let pioneers take risk

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Market attractiveness assessment and entering- How would you enter a market?

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