Market Analysis and Screening of a Company
User Rating: 0 / 5
- Details
- Hits: 6977
Market Analysis and Screening
Conduct business outside the regular market requires right facts about the status of the market the firm is contemplating to venture. The company must identify the markets desirable through considering the environmental forces existing within those markets (Ball, Geringer, McCulloch, Minor & McNett, 2013). At the same time, it is important to note the possible changes in the forces that are likely to affect the organization.
The chocolate producer is interested to know if there is a need for the products elsewhere and if they could be moved to meet such needs (Ball, Geringer, McCulloch, Minor & McNett, 2013). Identifying the need for a product will save the company from making non-beneficial efforts, and it is essential to know the existing competitors as well as where they take their products. The company must put the economic and regulatory factors into consideration before it starts exporting. The effect of the sociocultural forces in the market ventures and the competitor effects are major factors of need determination.
Chocolate is a consumer product and can be exported to different markets across the globe as per the need. Indeed, the product is one of the best selling worldwide, and the company thought of exporting the product may present spontaneous growth. The leading chocolate importing countries either operate directly as importing nations or export-import partners of the same product. United States, Germany, France, Belgium, Russia, Canada, and Italy top the list of chocolate importing countries. Among these countries, Russia, Belgium and Canada can be said to be emerging markets since their import capacity is on the rise. Carlson’s export competition would probably come from the United States, Germany, and Belgium. The competing countries are growing their production and partnerships for the products.