You work for a company that has primarily conducted business in the US. The company has decided to venture out and do business globally. You have been asked by the company’s president to do a service-market analysis. What should you include in your analysis?

Your analysis should include market needs, competition, and barriers to entry.

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One topic to include in the market analysis is market needs. The analysis will have to determine if there is a demand in the applicable international market for the product or service offered by the business. The analysis will have to show that people in the given area are buying...

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One topic to include in the market analysis is market needs. The analysis will have to determine if there is a demand in the applicable international market for the product or service offered by the business. The analysis will have to show that people in the given area are buying what the business is offering or have a strong potential to spend money on what the business is offering.

To figure out if there is a desire for the product or service, the analysis should conduct research on the spending power and buying habits of the population in question. If a market is mostly composed of people who are struggling financially, they probably won't want a pricey good or service. Conversely, if a market is primarily made up of wealthy people, they might not be enticed by a cheap good or service.

Another issue that the market analysis will have to approach is competition. The report will have to detail the competition that the business can expect in these global locations. It will have to explain the advantages and vulnerabilities of competitors. The analysis should then address how the American business would be able to compete and eventually gain an edge over the established businesses.

The analysis should also describe the barriers to entry. It will have to provide the cost of joining the foreign market in question by investigating the market’s tax code, regulatory system, zoning laws, and so on.

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