Market Success Factors
Moving into international business market needs the main success characteristics of Daffodils in their existing market which will help Daffodil to success in a new market. Geography and demographics factors, Economic environment, Political and legal environment and Cultural environment are the key factors of economic success for Daffodils.
Geography and demographics factors:
The geographic factor is one of the key characteristics of a business that influences the success in a new market. There are a lot of geographic factor, there are some which are more important for the success of Daffodils Games and Publishing. The first one is the location. The location is important to the simple fact, that it is the heart of operations, …show more content…
Macroeconomic factors that should be given particular attention to and which influence the success story of the company in the market are inflation, unemployment, level of income and labor cost. Daffodils Games and Publishing should know the rate of inflation of the new market, because it describes the general decrease of the prices of service and goods, therefore the company estimate what to expect. (So when inflation rises, the purchasing power usually decreases and companies need to know how to react.) The income level is important for the pricing, since the price needs to be adapted to what the consumer can actually afford. The unemployment rate might indicate how much per cent of the population can afford the product. Last the labor cost, which of course matter a lot, as there are a lot of wage differs from country to country. Microeconomic factors cover market size, distribution chain, demand, suppliers and competitors. Daffodils Games and Publishing needs to consider what market size they can serve, so that they do not run out of any kind of resources. Therefore also if there is a demand in the market and how huge the demand for the games is. The distribution chain should be easily be established and …show more content…
One huge benefit of Ghana is since they have had a stable government for several years, this has brought political and social stability to the nation. It is also a country that has great potential for growth because of the very good looking business climate, which basically means that foreign companies are a lot more likely to directly invest in Ghana companies. The country also has a great deal of support coming from multilateral donors like the World Bank, and the EU as well as support from bilateral donors such as the US, UK, and China. That being said, there are some negatives such as their increasingly growing public debt, and their sub-par banking
Moving into international business market needs the main success characteristics of Daffodils in their existing market which will help Daffodil to success in a new market. Geography and demographics factors, Economic environment, Political and legal environment and Cultural environment are the key factors of economic success for Daffodils.
Geography and demographics factors:
The geographic factor is one of the key characteristics of a business that influences the success in a new market. There are a lot of geographic factor, there are some which are more important for the success of Daffodils Games and Publishing. The first one is the location. The location is important to the simple fact, that it is the heart of operations, …show more content…
Macroeconomic factors that should be given particular attention to and which influence the success story of the company in the market are inflation, unemployment, level of income and labor cost. Daffodils Games and Publishing should know the rate of inflation of the new market, because it describes the general decrease of the prices of service and goods, therefore the company estimate what to expect. (So when inflation rises, the purchasing power usually decreases and companies need to know how to react.) The income level is important for the pricing, since the price needs to be adapted to what the consumer can actually afford. The unemployment rate might indicate how much per cent of the population can afford the product. Last the labor cost, which of course matter a lot, as there are a lot of wage differs from country to country. Microeconomic factors cover market size, distribution chain, demand, suppliers and competitors. Daffodils Games and Publishing needs to consider what market size they can serve, so that they do not run out of any kind of resources. Therefore also if there is a demand in the market and how huge the demand for the games is. The distribution chain should be easily be established and …show more content…
One huge benefit of Ghana is since they have had a stable government for several years, this has brought political and social stability to the nation. It is also a country that has great potential for growth because of the very good looking business climate, which basically means that foreign companies are a lot more likely to directly invest in Ghana companies. The country also has a great deal of support coming from multilateral donors like the World Bank, and the EU as well as support from bilateral donors such as the US, UK, and China. That being said, there are some negatives such as their increasingly growing public debt, and their sub-par banking