International Business Ch 14

  1. Market Screening
    A version of environmental scanning in which the firm identifies desirable markets by using the environmental forces to eliminate the less desirable markets
  2. Environmental Scanning
    A procedure in which a firm scans the world for changes in the environmental forces that might affect it
  3. Country Screening
    Using countries as the basis for market selection
  4. Segment Screening
    Using market segments as the basis for market selection
  5. SCIP
    Society of Competitive Intelligence Professionals
  6. NTDB
    National Trade Data Bank
  7. Market Indicators
    Economic data used to measure relative market strengths of countries or geographic areas
  8. Market Factors
    Economic data that correlate highly with market demand for a product
  9. Estimation by analogy
    Process of using a market factor that is successful in one market to estimate demand in a similar market
  10. Trend analysis
    Statistical technique by which successive observations of a variable at regular time intervals are analyzed to establish regular patterns that are used for establishing future values
  11. Cluster analysis
    Statistical technique that divides objects into groups so that the objects within each group are similar
  12. Initial Screening
    • 1. Basic need potential
    • 2. Foreign Trade
  13. Second Screening
    • Financial and Economic Forces
    • 1. Market Indicators
    • 2. Market Fctors
    • 3. Trend Analysis
    • 4. Cluster Analysis and Other Techniques
    • 5. Periodic Updating
  14. Third Screening
    • Political and Legal Forces
    • 1. Entry Barriers
    • 2. Profit remittance barriers
    • 3. Policy Stability
  15. Fouth Screening
    Sociocultural Forces
  16. Fifth Screening
    Competitive Forces
  17. Final Selection
    • Field Trip
    • Government-Sponsored Trade Missions and Trade Fairs
    • Sometimes local research is required
    • Research in the local market
    • Cultural problems
    • Techinical difficulties
    • Research as practiced
  18. Criteria for Segments
    • 1. Definable
    • 2. Large
    • 3. Acessible
    • 4. Actionable
    • 5. Capturable
Card Set
International Business Ch 14
assessing and analyzing markets