1You are the owner of a domestic bakery thinking of going ab

1.You are the owner of a domestic bakery, thinking of going abroad. You have an
excellent domestic client base and you’re interested in taking the plunge internationally. Using these steps which, are: Identify basic appeal, Assess the national business environment, measure market or site potential, select the market or site screen 3 markets and post your research and choice.

2.Once you have selected your market and site, from question number 1 above discuss how you would enter the country. Justify your decision with your research.

Answers must be 250 words long and do not plagiarize them. Thanks!

Solution

Knowing where your consumers give your brand a right to play is important when focusing innovation efforts in the right direction, but it’s also equally important to understand how significant the innovation can be to your business.

Not all innovation opportunities are created equal, so it’s important to distinguish those small point wins from the strategic game-changers. It’s well documented that 96% of items fail to return the cost of capital (Source: Doblin Group). Wouldn’t it be great to know that before you invest in the innovation?

We believe that by studying your buyers’ category, benefit or trend behavior you can successfully quantify different innovation opportunities in order to focus solely on the best ones. To assess the size potential, there are three key components that should be used.

Market segmentation Dividing a market into smaller groups with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes.Market segmentation involves dividing a market into smaller groups of buyers with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes. The company identifies different ways to segment the market and develops profiles of the resulting market segments. Market targeting (or targeting) consists of evaluating each market segment’s attractiveness and select one or more market segments to enter. In the final two steps, the company decides on a value proposition—on how it will create value for target customers. Differentiation involves actually differentiating the firm’s market offering to create superior customer value. Positioning consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. We discuss each of these steps in turn.