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There are many factors that should be examined when considering a new international market
There are many factors that should be examined when considering a new international market. In this assignment, you will explore how a company can qualify or quantify economic factors of markets and how they can influence the process of selecting a new market for a product. As you complete this assignment, consider how the lessons learned and resources used can be applied to your course project.
Directions You are an international trade consultant ranking the overall quality of various international markets for a product of your choosing. Select a product you would be interested in introducing to a new market, then complete the Module Three Assignment Template, which is linked in the What to Submit section below. Then rank your recommendations for a new market and justify your rankings using key economic and political data points. Examples of products include digital cameras, activity trackers, curtains, coffeemakers, and so on.
Application of Data: Describe your initial thoughts on how insights from the required data to be collected could help to inform business decisions. For example, consider what information each data point provides, whether some data points should be weighted more heavily than others in making a business decision, what ideal data points might look like for expansion into a new market for your product, the ways that different political systems may impact a decision, and so on.
Ideal Economic Data for Smart Coffeemakers: The ideal market would show a high GDP growth rate coupled with an even faster growth in disposable income among the upper-middle and wealthy classes. Low inflation and high exchange rate stability would ensure predictable pricing and profit.
2. Political Data Points and Insights
Data Point
Information Provided
Business Insight & Weighting
Political System (Type and Stability)
Identifies the government structure (democracy, authoritarian, etc.) and the risk of unexpected regime change or civil unrest.
High Weighting (as a Qualifier): Instability increases business risk, insurance costs, and the potential for supply chain disruption. A stable system is non-negotiable.
Ease of Doing Business Index (World Bank)
A composite measure of regulations, customs complexity, starting a business, and contract enforcement.
Medium Weighting: A high ranking (low index score) minimizes administrative burden, reduces time-to-market, and signals a pro-business environment.
Tariffs and Trade Barriers
Specifies import taxes, quotas, and non-tariff barriers (e.g., complex certification standards) on electronics/appliances.
Highest Weighting (for Profit): High tariffs directly erode profit margins or make the product prohibitively expensive for the local market. Low barriers are essential.
Protection of Intellectual Property (IP)
Assesses the legal framework for patents, trademarks, and copyright enforcement.
High Weighting: Crucial for a smart coffeemaker reliant on proprietary software/app technology. Weak IP protection exposes the company to immediate replication risk.
Sample Answer
Product Selection and Initial Data Application
Product Chosen: High-End Smart Coffeemakers
I will select High-End Smart Coffeemakers (e.g., automated pour-over machines with app connectivity and custom profiles) for international market expansion.
These products target consumers with high disposable incomes and a strong cultural affinity for premium coffee experiences, making economic stability and consumer purchasing power critical factors.