Researching and selecting foreign markets - Country selection model - Filter criteria
5 important questions on Researching and selecting foreign markets - Country selection model - Filter criteria
What requirements should the filter criteria meet?
- Be measurable (money or numbers)
- Be discriminating (to separate positive from negative situations)
Which three components of the filtering process are there?
- The pre-filter
- Filter 1 (rough investigation)
- Filter 2 (detailed investigation)
What possible criteria of the pre-filter are there?
- Import restrictions and import rates
- Transport costs
- Risk of calamity and common sense
- Level of prosperity
- Motive for internationalization
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What criteria of filter 1 (rough investigation) are there?
- Risk trade
- Corruption (Corruption Index = CPI)
- Political stability - Trade relations
- GDP = rough indicator of the market's size
- GDP per capita
- GDP growth - Consumption
- Sectoral structure
- Inflation
- Exchange rate
- Export statistics
- Demographic data
- Population size & growth
- Life expectancy at birth
- Number of inhabitant per doctor
- Urbanization and population density
- Level of education
- Language barriers - Cultural differences
- Climate
- Distance
- Experts
- Unforeseen
What criteria of filter 2 (detailed investigation) are there?
- Market data
- Estimated market size
- Market growth
- Distribution
- Typical terms of payment
- Environmental legislation
- Geographical grouping of potential clients
- Availability of local marketing statistics & data - Import restrictions
- Tariff-linked barriers
- Non-tariff-linked barriers (NTBs)
> Limit the quantity of imported goods (e.g. import quota {VER})
> Impose restrictions on the quality
> Regulatory barriers concerning packaging/labelling, quality and safety, health and increasing often,
environmental concerns
> Governmental regulations (advertising, promotion, anti-dumping measures, bureaucracy/red tape - Competition
- Trade promotion
- Financial aid
- Assistance in opening up markets
- Organization of trade missions - Product requirements
- Unforeseen
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