It is the world most globalizes country whose capital is London which is the third major financial center of the world. The most recent official figures shows that the GDP growth rate of United Kingdom is 3.1% where as GDP grew in 2006 was 23/4% and more than 3% in 2007. According to 2006 rating, the GDP is $ 2.1 trillion where as commercial service imports increases to $ 600 billion. The population of UK according to 2006 was 60,587,000 and out of this 50,763,000 is living in England.
Initially 12 countries were choose by the firm, through screening process out of these 12 countries two countries were left and chosen by us as our product international market. The twelve countries selected by the firm are:
International marketing of the product starts by assessing the international market and evaluation of the economic information that directly affect on the firm product [Alan M. Rugman and Richard M. Hodgetts (March 2000)]. Screening process for the product involves series of analysis; therefore, we have divided our screening process into many steps using economic indicators to represent that which two countries will suit best for the product.
The initial screening process of the firm requires knowing the basic need and potential of population in international market [Anant K. Sundaram, J. Stewart Black, (1995)]. ...
INITIAL SCREENING (Basic need and potential)
The initial screening process of the firm requires knowing the basic need and potential of population in international market [Anant K. Sundaram, J. Stewart Black, (1995)]. A simple question "who might be interested in buying our product" is used to answer the basic need of the population. There are three ways to answer these questions
1. Current import policies: the current import policies of Australia, Canada, China, Japan and Germany are strict enough that it can cause a huge cost to our product. The taxes and other expenses on the import of these countries will be high as compared to other countries. As extra cost will incurred on the product that's why the cost of the product will be high in these market, causing less purchase of the PDA. Therefore, the choice of countries will exclude Australia, Canada, China, Japan and Germany.
2. Local production of PDA: Australia, Canada, Japan, China, Germany, Italy and United States of America are producing their own PDA's and therefore, establishing our market will in these market will not provide future establishment as these market already hold strong competitors for our product. China PDA's are now becoming more famous as they are using cheap technology and thus providing low price PDA's in the international market. On the other hand Germany, Italy, Japan and Australia are holding different international companies and national companies producing PDA's.
3. Demographic Changes: the demographic changes in India, Pakistan, Poland and Malaysia are in account and thus the potential for our product in these countries will be high [Lee J. Krajewski and Larry P. Ritzman (2003)]. Where as other countries are developed countries and already hold strong market