Clothing Market of Japan:
Japan seems to have state of the art fashion market whose sales are valued approximately around ¥16.4 trillion or it is around US$ 143 billion. Amongst this, women’s wear accounts for close to 60 percent.
Fast Food Market in South Korea:
In the year, sales value of the South Korean fast-food market had been closer to 12.44 billion US dollars (statista.com, 2021).
Coffee and Snacks Shop Market in US:
Market size of the coffee and the snack shop across US had been approximately $ 44.41 billion US. In the year 2021, the sector had been forecasted to have reached a size that had a valuation of around 47.08 billion (statista.com, 2021).
The domestic company chosen for this particular report is Jean Coutu Group having headquarters in Canada with plans for expansion in the international market.
The research questions will include:
- Do economic benefits of expansion into the international market outweigh risk?
- Does the firm have the executive team or the staff for effective expansion?
- What can be the optimal entry mode into international market?
The type of market research that needs to be conducted in case of international expansion can be conduction of online surveys (Evans & Mathur, 2018). This type of market research is relevant since they are one of the most popular methods of research. This type of research allows in gathering huge amounts of data in a shorter time span and have been inexpensive and easier in execution.
When it comes to analyzing the competitors in international market, it can be done through analyzing the weakness and the strength of the international competitor with regard to environment. In addition to this, it also involves investigating the strategies and the goals of the international competitors.
References:
Evans, J. R., & Mathur, A. (2018). The value of online surveys: A look back and a look ahead. Internet Research.
statista.com, (2021). [Online]. Retrieved on January 9, 2022 from https://www.statista.com/statistics/644336/south-korea-sales-fast-food-market/
statista.com, (2021). [Online]. Retrieved on January 9, 2022 from https://www.statista.com/statistics/1174179/coffee-and-snack-shop-market-size-us/#:~:text=Coffee%20and%20snack%20shop%20industry%20market%20size%20in%20the%20U.S.%202011%2D2021&text=The%20market%20size%20of%20the,forecast%20to%20reach%2047.08%20billion
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