The process of determining which markets to invest in and pursue is known as market selection. The market's growth potential, or the potential for a company's revenue to expand by investing in a certain market, is one of the most important elements to keep in mind while making a market selection.
International Marketing Objectives: The first phase in the market selection process is to identify or specify the organization's export marketing objectives.
One of the most important considerations for an international marketer when choosing an entrance strategy is market size. Long-term commitments requiring larger levels of investment, such as totally owned subsidiaries or equity participation, are justified in countries with significant market sizes.
Process of Choosing a Target Market
Determine the best targeting strategy.
Choose which segmentation variables to employ.
Create profiles for market segments.
Examine Market Segments That Are Relevant.
Choose your target markets carefully.
Making sales projections
Domestic marketing.
International marketing.
Export marketing.
Multinational marketing.
Global marketing.
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