The purpose of this project is to give you first-hand experience in evaluating market opportunities in foreign countries. Assume you are the new business development manager for your company which, up until now has sold products primarily in the U.S. You are going to conduct an analysis of the three countries of your choice (e.g., Algeria, Cambodia and Belarus) to understand their overall market attractiveness for your product/service.
Start by selecting the product or service you plan to sell in foreign markets. Note: the clearer you are about the product/service the easier it is to evaluate the market opportunity.
Then select three countries which seem likely candidates for your new product/service and begin your analysis. I have created a template for you to use when compiling your information (attached).
Assessing New Markets for Expansion Template for Analysis.docx
1.Use the Global Edge Country Comparator (Links to an external site.) (Links to an external site.) tool to compare each country in the following categories.
· Infrastructure (pick five most relevant attributes for your business)
· Economy (pick five attributes)
· Trade and Investment (pick five attributes)
2. Provide an assessment of the ease of doing business in the country based on World Bank’s ease of doing business rankings (Links to an external site.) (Links to an external site.). On the website, click on your country for detailed information.
3. Provide an informative guide regarding the cultural norms in the country based on the Cultural Crossing Guide (Links to an external site.) (Links to an external site.).
4. Market Recommendation: Based on the information you have gathered which country is the most promising market to enter? Provide at least three reasons.
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