Chapter 12 Assessing International Markets

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Chapter 12-Assessing International Markets 4. Do a country’s imports completely measure the market potential for a product? Why or why not? A country’s imports only partially measure the market potential for a product. A product might be imported with the intention to sell at stores like Target Stores, but because of various reasons, the product may not have done well in those markets and ended up in liquidation and sold at a Dollar Store. Reasons such as poor marketing efforts, lack of foreign exchange may have made it difficult to initiate a roll-out of the product, the expense of transportation of the product as well as duties and the inevitable markups that imports incur (304). There are other variables that can affect reports of …show more content…

STEP support is a federal program with the purpose of increasing the number of U.S. small businesses that export and to increase the value of exports by small businesses (SBA). This STEP program provides 50 percent expense reimbursement for eligible businesses that want to attend. Organizing or getting involved in a trade mission is valuable in itself, because local firms are networking together to improve their local community. Supporting each other domestically and abroad can expedite economic progress. Participating in a trade mission, allows firms to travel with a group, which can lower your companies cost (Lansing Business News) . Attending trade fares opens doors to new revenue opportunities and expanding existing business. With more than 70 percent of the world 's purchasing power located outside the US (Lansing Business News), a trade fare is a financially efficient way to introduce/meet firms from across the world, looking to develop business. One of the best benefits is the assistance in finding customers who match the firm’s qualifications and are interested in purchasing or distributing the firm’s products or services. Prior to attending trade shows, firms will receive a list of exhibitors from which they can plan to meet with. Attending business will have up to date information that can be analyzed for prospective business purposes (Lansing Business News). Trade fairs include many networking opportunities to meet and build

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