assessing a country as a market

Question 1

what is a market

Answer 1

anywhere where buyers and sellers meet to trade

Question 2

disposable income as a factor

Answer 2

business needs to know whether people can afford new product
use data to observe consumer trends
can determine pricing strategy
dependant on interest rates (low=save)

Question 3

ease of doing business as a factor

Answer 3

assessing country as both market and production location
determine cost and pricing
range from starting a business, construction permits, registering property to resolving insolvency
important so business can concentrate on steadily developing

Question 4

why may a business consider ease of doing business and disposable income

Answer 4

judge stability of doing business
predict demand
see if they need to outsource

Question 5

infrastructure as a factor

Answer 5

transport as in getting product to consumer on time in good quality for customer satisfaction and avoid refunds/complaints
transport links for supply deliveries
ability to communicate through telephone, internet

Question 6

political stability as a factor

Answer 6

gov approach to taxation and regulation
political risks e.g terrorism, human rights, election
depends on gov involvement with business and MNC