International Business: Markets and Strategies for Foreign Trade

Running head: INTERNATIONAL BUSINESS
INTERNATIONAL BUSINESS
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1INTERNATIONAL BUSINESS
Before entering into the international markets, all international companies gather
information regarding potentiality of the markets in order to secure the considerable amount of
return from those markets. The international companies research as well as keep themselves
updated so that possible measures can be taken to avoid any kind of unpleasant circumstances
while conducting foreign trade. There are three major markets under consideration that most of
the international companies operate into. The markets are namely, government market, industrial
market and most importantly consumer market (Tolstoy, 2014). Therefore the whole course of
the discussion will be elaborating the each market with appropriate examples.
The companies choose markets as per their goals. Therefore it is imperative for the
companies to research and identify the target customer and their requirements before making
selections for the target markets. In this regard, it must be mentioned that all of the three markets
have equal potential in terms of foreign trade. The impact of the three markets is significant but
then also it must be assured that the business strategy is well researched and fully proved (Laufs
& Schwens, 2014). Thus the three markets together make up the whole economy of any nation or
any country. A corporation seeking entry an international market needs to analyze the market
segmentation before so that it can smoothly operate its business in the foreign country. For
example, consumer market depends on the demands of the customers’ personal consumption.
The largest consumer market exists in the United Kingdom. Thus it is of suggestion for the
companies who operate the business in the consumer must consider the United Kingdom as far
as the foreign trade is concerned. However, it must be mentioned that there are a large number of
companies exist operating business in the consumer market of the United Kingdom (Emelyanov,
Prityko & Moroz, 2015). Thus the before entering the Consumer market of United Kingdom, the