Target Market Overview
i. Determine the target market for this new product. In this section, you should be answering who would need this product. If the target market is not defined on the company Website, make assumptions and justify about the target market. You must be specific about the parameters of your target market (end user) in Section 3.
ii. Compare and contrast the end users in the foreign and domestic markets.
International Involvement
i. Is your company currently involved in the international market? If so, where? If not, why not?
ii. Methods of International Involvement (discuss). Possible methods include:
Exporting
Joint Ventures
Wholly-owned manufacturing subsidiaries
Management contracts
Licensing
Franchising
Company owned retail stores
E-commerce
Importing
Other(s)
iii. Identify at least two major competitors and discuss their level of involvement in the international market.
Coca-Cola:
7-Up:
iv. Organization of the company’s current international function; compare with the competitors discussed above. Table preferred. Does your company and its competitors have (YES OR NO):
Sales/marketing international team
International division
International logistics team
Global structure based on product
Global structure based on area/region
Global structure based on function
5 or more years of international experience
Analysis of the Internal Environment. Can include but is not limited to:
Financial resources
Intangible resources
Human Resources
Physical Resources
Are these areas strengths/weaknesses for your company?
Analysis of the External Environment.
Industry analysis (in what industry does your company compete)
Industry sales and growth rates for the last two years
Key trends and drivers in the industry
Competition
SWOT Matrix (table)
Evaluation of Global Readiness. Based on the information provided, is your company/product ready for global expansion? Justify your decision based on questions below:
Is the foreign market still similar to the domestic market?
Is the end user of the product in the foreign market the same as in the domestic market?
Is the product successful in the domestic market?
Is the product unique?
Does the product perform the same function in the foreign market as it does in the domestic market?
Are the product use conditions the same in both markets?
Does the product need modifications to meet the needs of the customers in the foreign market?
What is the stage of the product’s life cycle in the home market and in the foreign market?
Does the product require after-sales service?
Is the company in a position to provide after-sales service to its customers in the foreign market?
Would export orders hurt domestic sales?
Does the company have financial resources necessary for export?
Does the company have the in-house personnel with export-related knowledge/expertise?
Is international/global participation part of the mission statement of your company?
Is international expansion part of the strategic business plan of your company?
Would the company be willing to investigate export market opportunities?
Would the company be willing to attend trade shows abroad?
Is the company willing to translate company literature into one or more foreign languages?
Are the company’s top competitors involved internationally?
Is the industry highly regulated?
Is the company certified (ISO 9000 or other)?
