CRITERIA FOR SELECTING TARGET MARKET (S)
Size of Market:- Big enough for good revenue.
Growth of Market:- Market should be growth oriented, demand pattern of atleast 3 years should be studies.
Logistics:- easily reachable.
Distances:- freight plays a major role in international marketing. So freight factor should be an important consideration.
Competition:- Imp. Factor in market segment.
Distribution System:- A good distribution system helps a company to establish and settle in a foreign market.
On deciding to go abroad a company needs to define its international marketing objectives and policies:
- what proportion of foreign to total sales will it seek?
- Whether to enter a few countries or many?
To summarize decisions regarding which markets to enter a company must consider the following:-
- Market entry and market control costs.
- Population and Income Size and potential growth of the market.
- Competition level.
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