Market Prioritization Methods for Global Firms

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Abstract

Advances in communication and information technologies, reduction in trade barriers, privatization, deregulation and opening of new markets have led to the expansion of trade and increased investment in new markets. One of the crucial decisions that global firms should take is the choice of markets to enter when there are many different alternatives present. The alternatives could be at the level of nations, regions or even cities. To make informed decisions, critical macroeconomic, demographic and cultural data elements must be available for analysis. The growth of global business in the last two to three decades has resulted in an explosion of data sources both commercial and syndicated. Using these data sources and the product/service specific characteristics firms may use various algorithms to rank order markets for suitability of entry. This chapter will try to outline the different methods for market prioritization utilizing the numerous global data sources available. Special considerations for global financial institutions will also be presented.