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Market Assessment

In: Business and Management

Submitted By Evelyn0212
Words 10702
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Industrial Marketing Management 41 (2012) 1142–1151

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Industrial Marketing Management

A holistic approach to market assessment for a manufacturing company in an emerging economy
Malini Natarajarathinam ⁎, Bimal Nepal 1
Department of Engineering Technology & Industrial Distribution, Texas A&M University, 3367 TAMU College Station, TX 77843, United States

a r t i c l e

i n f o

Article history:
Received 26 May 2011
Received in revised form 18 March 2012
Accepted 29 April 2012
Available online 1 June 2012
Keywords:
Market assessment
Sales potential
Market potential
Emerging market
Mexico

a b s t r a c t
Assessing the potential for a new market is challenging both for new businesses and for already existing businesses that are trying to expand. The primary challenge is the difficulty in identifying the important factors that influence market potential. The other challenge is that once the influencing factors are identified, there are very few structured mechanisms available to show how these factors affect the bottom line of the business. In this paper, the authors present a three step market assessment methodology and illustrate it with an example of a manufacturing company. The proposed methodology is applicable especially to the case of an already existing company trying to expand its operations and sales to a new country or emerging market. The first step assesses the broad market potential of a country; the second step estimates the sales potential for a specific company, and the third step calculates return on investment for the company based on the resources required. Each step of the methodology accounts for several external and internal factors. An example of a fastener manufacturer targeting the Mexican market is used to demonstrate the application of the proposed…...

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