Structured marked selection
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This document describes a structured process for selecting new export markets. It involves three steps: 1. Wide screening of potential markets based on general factors like purchasing power and infrastructure to identify relevant markets. 2. Fine screening of relevant markets across two dimensions: market attractiveness factors and the company's competitiveness in that market. This identifies the most attractive and suitable segments. 3. Evaluation of markets using a matrix to assess attractiveness and competitiveness, identifying core markets with the largest potential as high in both dimensions. Non-interesting markets are low in both. The tool provides a framework to locate markets for the company's best potential and optimal resource utilization.
Structured marked selection
- 1. Export ToolsInternational Business Development 05. mar. 15 Structured Market Selection
- 2. Export Tools 05. mar. 15International Business Development Where to expand next? Initiating the expansion process with a structured and deliberate plan increases the chance of success manifold Take advantage of this tool when locating the most promising markets. The tool can also prove useful in evaluating markets where you are already represented The tool provides a framework for locating in which markets your company’s potential is most prominent, and in which markets you utilize resources most optimally. 1 2 3
- 3. Export Tools 05. mar. 15International Business Development In Brief Does it make sense to dispose products in market? $ $$ Market Attractiveness Company’s Ability to Compeed
- 4. xx. xxx. xxExport ToolsInternational Business Development The Selection Process How its done
- 5. Export Tools 05. mar. 15International Business Development 3 The Model 2 1 Wide Screening Fine Screening Market Attractiveness Competitiveness Final Selection External Internal
- 6. xx. xxx. xxExport ToolsInternational Business Development Step 1 Cursory Screening
- 7. Export Tools 05. mar. 15International Business Development Wide Screening Evaluate potential markets based on general variables and factors, relevant for your business. $ ABC. Purchasing Power General Market Data Infrastructure Language
- 8. xx. xxx. xxExport ToolsInternational Business Development Fine Screening Two dimensions
- 9. Export Tools 05. mar. 15International Business Development Fine Screening: 2 Dimensions Market Attractiveness Company Competitiveness • Market growth • Purchasing power • Customers in focus segment • Competition (No. of competitors) • Price sensitiveness • Substitutes • Customs and import restrictions • Branding and image strength • Deliveries and logistics • Competitiveness Quality • Competitiveness Price • Access to technical service • Ability to invest in capacity building
- 10. Export Tools 05. mar. 15International Business Development Market Evaluation Total Market Irrelevant Markets Relevant Markets Not Able to Compete Best Market Suitable Attractive Segments Fine Screening Fine Screening Better Competition Wide Screening
- 11. xx. xxx. xxExport ToolsInternational Business Development Step 3 Selection
- 12. Export Tools 05. mar. 15International Business Development Evaluation Matrix Core Markets Low High High Very Attractive Not Attractive Market Attractiveness Competitiveness Re-distribute Resources Upgrade Capacities Non- Interesting Markets Upon finishing the analysis of all selected markets, place the results in within the matrix. This allows for an overview over the individual countries’ potential and attractiveness. Markets placed in the top left corner are those with the largest potential, in that they score high in both market attractiveness and company’s ability to compete. Country 1 Country 2
- 13. Export Tools 05. mar. 15International Business Development Comments on the Approach This is a highly quantitate method, approaching a complex problem through a simplified model Upon finishing the analysis and outlining the evaluation matrix, take a step back and take into consideration your previous experiences, does it make sense? Remember, with a quantitate model the result never exceeds the selected input 1 2 3
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