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With the introduction of open international trade, businesses now have more opportunities to offer their products and services to foreign markets. In order to do this, companies typically answer the questions as to which foreign market will they be entering, how will they enter it and when will be the best time to enter it. Once the company has identified it market prospect, it is then important that the company analyze and understand its selected market segments.
This paper primarily provides the PEST Analysis of ABC Clothing Company in line with the planned expansion in international business operations. This provides insightful details regarding different factors of in the external environment that an organization must monitor. After which, this paper will attempt to select one of the most essential factors that must be given emphasis by the company in order to sustain their competitive advantage among their competitors for the foreseeable future. Further, this report will also outline the role of marketing research to support the company's decision making process.
International expansion is one of the main representations of business success as it suggests the company’s ability to meet foreign market demands and supply resources needed for foreign operations. Financially, operating abroad can be demanding; in addition, the company would need to adjust a number of its standard operation in order to adjust to foreign business practices. In other words, there are many risks involved in global trade. As this business activity requires significant resource allocation, the companies must then ensure that they are capable of overcoming possible risks and will be able to achieve success.
One way of doing this is by analyzing the environment that the companies wish to invest on. It is important that business entrepreneurs are aware of the distinct features of each foreign setting; in this way, the investors will know how to address the risks in the...