Assessing International Marketing Opportunities for Small-and Medium-Sized Companies

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I. INTRODUCTION The current business environments require firms to be highly aware of expansion of the global market. Entering a new market without sufficient understandings and preparation is never a good choice of companies to further their endeavor. Accordingly, a firm should take deliberate steps to analyze and recognize promising targets. For a company, especially an SME, the market research is an important issue that firms need to deliberate due to the limitations of its resources and capabilities. Researching the potential export markets is the significant preparation that needed to carry out prior to entering an overseas market because not many companies really comprehend geographical, social, economic facts of the foreign countries in comparison with the home countries (Cavusgil, 1985). Besides, researching for the international market opportunities is not a discrete activity, but a combination of collecting, analyzing, and concluding data logically. Regarding the international expansion, a great concern of a firm is to identify it promising markets. That is the problem of answering the questions: How does a firm evaluate its targeted markets? What criteria helps select the market? For these reasons, this report will develop a practical guide with highly recommended practice for the firm to evaluate and identify its attractive export markets. The discussion in the report aims to assist an SME Irish company to optimize its analysis and selection of the future market to expand its exporting activities to the BRICS (Brazil, Russia, India, China, and South Africa). The approach in the report is to provide the practical recommendations that based on significant studies on market selection. This is a highly contemplated report... ... middle of paper ... ...s. International Business Review, 3(3), 243-261. Porter, M. E. (1979). How Competitive Forces Shape Strategy. Harvard Business Review, 57(2), 137-145. Rahman, S. H. (2003). Modelling of International Market Selection Process: A Qualitative Study of Successful Australian International Businesses. Qualitative Market Research: An International Journal, 6(2), 119-132. ADDITIONAL REFERENCES Johanson, J. & Vahlne, J. E. (1977). The Internationalization Process of the Firm—a Model of Knowledge Development and Increasing Foreign Market Commitments. Journal of International Business Studies, 8(1), 23-32. Papadopoulos, N. & Denis, J. E. (1988). Inventory, Taxonomy and Assessment of Methods for International Market Selection. International Marketing Review, 5(3), 38-51. Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance, NY: Free Press.

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