International Business Ch 14

A version of environmental scanning in which the firm identifies desirable markets by using the environmental forces to eliminate the less desirable markets

A procedure in which a firm scans the world for changes in the environmental forces that might affect it

Using countries as the basis for market selection

Using market segments as the basis for market selection

Society of Competitive Intelligence Professionals

National Trade Data Bank

Economic data used to measure relative market strengths of countries or geographic areas

Economic data that correlate highly with market demand for a product

Process of using a market factor that is successful in one market to estimate demand in a similar market

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

Statistical technique that divides objects into groups so that the objects within each group are similar

• 1. Basic need potential
• 2. Foreign Trade

• Financial and Economic Forces
• 1. Market Indicators
• 2. Market Fctors
• 3. Trend Analysis
• 4. Cluster Analysis and Other Techniques
• 5. Periodic Updating

• Political and Legal Forces
• 1. Entry Barriers
• 2. Profit remittance barriers
• 3. Policy Stability

Sociocultural Forces

Competitive Forces

• 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

• 1. Definable
• 2. Large
• 3. Acessible
• 4. Actionable
• 5. Capturable