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Problem

What are the major macro and micro considerations in choosing a particular market?

Step-by-step solution

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Step 1/4

The decision to penetrate a foreign market is among the most challenging of all decisions concerning new markets. A long-term commitment from management is necessary because without it, the entry into the market would fail because the competitors already present in the country in question are frequently fully focused on what is, for them, their domestic market.

Step 2/4

The major macro considerations in choosing a particular market:

• Country

• Economic

• Political/legal

• Cultural

• Technological/infrastructure

• Geographic

Step 3/4

The major micro considerations in choosing a particular market are as follows:

• Market

• Customer

• Key segments

• Purchase criteria

• Market size and growth

• Competition

• Product acceptance

Step 4/4

The main macro and micro factors to take into account while selecting a market are as stated.