Assignment:
Overview:
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.
Specifically, you must address the following rubric criteria:
Section One:
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. Need Assignment Help?
Section Two:
Political and Economic Data Collection: Complete the table in the provided template by finding the appropriate information and data points for each identified category using course and external resources. Then explain the insight that each selected statistic provides for business professionals. Insight explanations can be completed using bullet points.
Section Three:
Ranking and Rationale: Rank the appropriateness of introducing your selected product into the three markets from "most appropriate" to "least appropriate," based on the political and economic data you collected. Provide a rationale for why you ranked the markets the way you did on the basis of the data you gathered.
What to Submit:
Submit the completed Module Three Assignment Template. In Sections One and Three, use complete sentences. In Section Two, numbers are appropriate. Sources should be cited according to APA style.