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WELINGKARS (DEIM) INTERNATIONAL MARKETING

DEIM
Project Report

International Market Selection

Team Members

1) Vishal Umbarkar (Roll number- 44)

2) Umesh Mankar (Roll number – 45)

3) Nagappa Mandale (Roll number- 47)

Professor: Vinay Karulkar

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WELINGKARS (DEIM) INTERNATIONAL MARKETING

International Market Selection

ABSTRACT

International market selection is one of the most important decisions to be made by


organisations engaging in international trade. Yet, despite its importance, the approaches
taken by many organisations in identifying profitable and servable markets in the
international context are often based on ad hoc decisions and intuition, rather than a
formalised attempt to match the organisation with appropriate foreign target markets.

“Few of us know even simple facts about the geography, culture,


and economics of countries other than our own. Even fewer
people have at their fingertips details that tell whether their goods
will sell in a particular market.”

Company Profile
Name Impex International
Business Type Candles manufacturer
Year of Establishment 2003
Export Markets Mexico and France
Product Refillable Butane Candles
Address TTC INDUSTRIES, MIDC

Refillable Butane Candles

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WELINGKARS (DEIM) INTERNATIONAL MARKETING

Product Specification:

We are the manufacturers a varied variety of candles. We have our manufacturing plant
in Navi Mumbai, India. Impex international’s aim is to provide best quality products in
better price to his customers.

We have introduced a new type of candle it is Refillable Butane Candles. This is festival
season and we have manufactured this type of candles especially for Christmas festival.

Salient Features of Refillable Butane Candles

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WELINGKARS (DEIM) INTERNATIONAL MARKETING

• Jesus Christ and Santa Claus images


• Refillable using butane canisters
• Regulatable flame
• Scented
• Musical
• Glass chimney provided
• Flint based sparker provided
• No mess
• No Maintenance
• No Melting
• Lifetime Bright Light
• Attractively packed in round cartons
• Ideal for personal Gifting and Corporate Gifting for the Festive season
• Better price

Steps to selection of market

1) Customers

Organisations customers’ may influence the market in which an organisation will select
to compete in. After extensive marketing research carried out by the organisation,
analysis may conclude that the target market reached by the firm may include a
specific domination which, correlates with another country’s’ population.
Moreover, if the customers of the product are international, and from a specific
origin, this too may be a determining factor in the selection of a specific market

We have produced this Refillable Butane Candles especially for Christmas festival.

Largest National Christian Populations

Rank Nation Number Percent

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WELINGKARS (DEIM) INTERNATIONAL MARKETING

1 USA 224,457,000 85%


2 Brazil 139,000,000 93%
3 Mexico 86,120,000 99%
4 Russia 80,000,000 60%
5 China 70,000,000 5.7%
6 Germany 67,000,000 83%
7 Philippines 63,470,000 93%
8 United Kingdom 51,060,000 88%
9 Italy 47,690,000 90%
10 France 44,150,000 98%
11 Nigeria 38,180,000 45%

Source for these Christian statistics: Ash, Russell. The Top 10 of Everything, DK Publishing, Inc.: New
York (1997), pg. 160-161; December Advance Newsletter, 1996, Kainos Press; Adherents.com.

As per above statistic most of the national Christian populations are in Mexico and
France. It means there must be high consumption of candelas in Christmas festival.
Therefore we have selected Mexico and France for our products export.

2) Capital requirements
The capital requirements of entering a specific market are also another consideration for
an organisation. As per our market research, the organisation will outline a cost-benefit
analysis on each specific country and more importantly the capital requirements that will
be required for the initial outlay of a global orientation, into this country. The results of
which is clear and help us to determine the market select.

3) Corporate social responsibility


The organisation before entering a specific country must also consider the element of
corporate social responsibility (CSR) and how each specific country views the concept.

4) Time and research

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WELINGKARS (DEIM) INTERNATIONAL MARKETING

Time is a valuable commodity in the business environment. The decision on which


country to select for international trading has an effect on the strategic development of an
organisation. And this is a good time to introduce new type of candles in this Christmas
festival in high christen religions country like France and Mexico.

5) Competitive intensity

Product, planning, strategy, market selection, market segmentation are


the pillars of the International Marketing. Mainly, the product should be
strong enough to face international competition where there are players
all over the world. We have done market survey and market research on
the demand as well as expected quality and price of the Candles and
accordingly planned and designed our product.

6) Political environment

Fundamental to every marketer’s selection and assessment of a foreign market is an


appreciation of the political environment of the country. An examination of target
country’s political orientation and environment is part of the preliminary screening stage
of market selection. Any company considering doing business outside of their own
country should carefully study the government structure of the target market as well as
examine the numerous issues arising from the political environment.

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WELINGKARS (DEIM) INTERNATIONAL MARKETING

7) Economic environment

The economic development and performance of a country is a further issue the


international marketer needs to consider in international business. The stage of economic
growth within a country affects numerous facets of firms’ international strategies.
Economic growth affects a countries attitude towards foreign business activity, the
demand for goods and the distribution system found within the country.
Mexico and France are both countries are developed country.

Conclusion

The above report provides steps taken by the Impex International to expand his business
of varied verity of candles in European market.
Any business cannot survive and grow without developing and increasing
its customer base. Market selection is the most challenger job to the
company.

Impex international has studied the above all points and select a country
like Mexico and France for his product export expansion.

Thank you