Explain the Process Pk Electrics Would Use to Select Which Market(s) to Enter
When PK electrics select the market, PK electrics would use which market is : First , PK electrics should collect the secondary research. The secondary researches include the surf internet for the countries which it want to entry situation and its future competitors and so on. Secondly, by using PESTLE analyze to environment. Thirdly , to screen what countries that can enter according t the requirement and then do research concretely. Fourthly, according to the research of different countries to get the information about the market and customer like the demands, market trends , competitors etc. the company can decide take what actions to meet the customer’s satisfy and have the advantage in the competition. In addition , to appraise by comparison the candidate countries to choice the most suitable country to enter. In this process the company should choice the market that has more advantages to entry. The last step, select an appropriate model to enter the target market. There are two models: they are exporting and manufacturing. Exporting include direct and indirect exporting. The direct exporting includes sales representative agents , distributors, foreign retailer and direct sales to end user. Indirect exporting is exporting the production to the target market through intermediary companies .Manufacturing includes wholly owned subsidiaries , joint venture, licensing and franchise.
There are six steps to enter to international market for PK electric.
The first step is collecting information from primary or secondary sources of various countries. At this stage, such techniques as PEST analysis can be used. Over the years, the organization has developed a good reputation for quality and customer service. This is a good basis for our company to entry a new market.
Second, Screen the collected information using set criteria. e.g. This information including the business Environmental Risk