| |
| |
Assessing Market Attractiveness |
|
|
|
| |
 |
|
 |
| |
The assessment of market attractiveness is an area in which companies have historically been deficient. Many foreign market investments have proven unprofitable, and as a result, multinationals are now trimming back their foreign investments. In part, this is due to the fact that reliable information is not always available, but a larger issue is that the decision to enter a foreign market was based on inadequate research and a lot of guesswork. There are two key decisions involved in entry into internationalization: the choice of which market to enter based on its potential, and the timing of entry based on whether it affords first-mover advantage ("Assessing Market Potential: Estimating Market Size and Timing of Entry"). Choosing which market to enter is a rocky path fraught with many pitfalls. The first is exaggeration of the size and attractiveness of a market. The second is a tendency to base entry decisions on shareholder or competitor pressure or vision rather than on actual market analysis. Alex Trotman of Ford exemplified this pitfall when he said, "I can't go down in history as the Ford Chairman who missed China" ("Assessing Market Potential: Estimating Market Size and Timing of Entry"). However, this perspective overlooks the immaturity of the market as well as any other inherent drawbacks it may have. The third pitfall is to rely upon the contacts of senior executives for basing the market selection
Related Essays
Modern Concept of Marketing .... by helping to identify attractive market opportunities and by assessing the firms .... axis, market growth rate provides a measure of market attractiveness on the .... (6674  27  )
Hospitality, Restaurant & Institutions .... focus groups as a means of assessing guest needs .... Compete successfully in the job market, Seek additional .... potential college students of the attractiveness of a .... (2925 12 )
Nonverbal Communication and Gender .... studies that support the physical attractiveness stereotype suggest .... When assessing the affects of hair length, bust .... subject of many mass market paperbacks in .... (2235 9 )
Association Between Physical Appearance & Personality .... studies that support the physical attractiveness stereotype suggest .... When assessing the affects of hair length, bust .... subject of many mass market paperbacks in .... (2181 9 )
Poland This report focuses on Poland, .... Assessing both customer concerns and market or environmental .... favorable business climate and the attractiveness of Poland .... in labor and product market should be .... (9851 39 )
that failed to do this:
Webvan spent $830 million to expand into 26 cities at once only to file for bankruptcy after its overly ambitious strategy failed. E*Toys had a market capitalization greater than that of ToysRUs its first day of trading. Greed, irrational exuberance, call it what you may, but common sense was not part of the tune. Good business strategy is based on market knowledge and strategic focus - focus on what you do best and in areas where your competitors are weak (Harrison).
Harrison recommends determining what impacts the business from the outside, examining the core business by describing market segments, and then looking internally to determine the company's strengths and weaknesses. She advises looking to the future to see how trends might change and how customer requirements might differ. She posits that "Careful analysis leads to focus. Focus allows you to purposefully select the best road to travel," and this is followed by strategy development centering on what you will do in your core business, what opportunities you will pursue, and what you must accomplish internally to achieve these (Harrison).
There are some basic questions that need to be addressed in determining the feasibility of a market, and
Category: Business - A
|
|
 |
|
 |
|
|
| |
|
|
| |
Timing Entry, Rein Kotler, Harrison Harrison, Jeffrey Graham, Signatures Regulations, Attractiveness Internationalization, Technology Issues, Entry Enabling, BusinessSocial History, Denise Harrison, 2 2, 0 0, 0 2, 1 2, 2 0, assessing market, 0 1, 2 3, 1 , 1 1, 0 2 2, 1 1 , market potential estimating, potential estimating market, assessing market potential,
 = 2356
 = 9 (250 words per page)
|
| |
|
| |
|
| |
|
|
| |
 |
|
 |
| |
Click Here
to Get Instant Access to over 32,000 Professionally Written Papers!!!
|
|
 |
|
 |
|
|
|
|
|
| |
|
|
| |
|
|
| |
|
"Thank you for making such a high quality site! Your papers are the best I have seen around"
|
Debbie B. |
| |
|
"Your site was very helpful and gave me the details I needed in order to complete my essay!!!"
|
Mike F. |
| |
|
"This site is an excellent vehicle for quick referrences. Thanks a bunch!"
|
Carla T. |
| |
|
"Great site, I got a lot of new ideas I would have never thought of before."
|
Nate A. |
| |
|
"I love this site!!!"
|
Marie H. |
| |
|
| |
|
|
