market

The first step of budding export company should take is to evaluate the sales potential in each foreign market. One must remember that there are more than 200 countries which shows that we may need to evaluate large amounts of information. For this reason many executives when faced with this dilemma tend to vote for the stock market which is affiliated with some of their own culture. British exporters prefer to Ireland, the United States and the European Union, while Spain's exporters tend to approach Latin America or the European Union.
Market definition. In marketing, the term refers to the group market or consumer organizations who are interested in the product, have the resources to purchase the product, and allowed by law and other regulations to get the product. Beginning with the population, the various terms used to describe the market based on the smaller level: - Total population. - Potential market: those whose total population who have an interest in getting the product. - Available market: people who have a potential market in enough money to buy the product. Qualified available market: they are available in the market that are legally allowed to purchase the product. - Target market: segment of the market of available qualifications the company has decided to serve (that serve the market). Penetrated the market: the people in the target market who have purchased the product.
Market Advantages Although various companies in different markets will have a level of profitability, the average profit potential market to be used as a guide to know how difficult it is to make money in the market. Michael Porter devised a useful framework for evaluating the attractiveness of an industry or market. This framework, known as Porter's five forces, identifies five factors that influence the market profitability: - Buyer power - Supplier power - Barriers to entry - Threat of substitute products - Competition between firms in the industry