From the course: International Marketing Foundations
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Rating tools to help make decisions
From the course: International Marketing Foundations
Rating tools to help make decisions
- By now, you've gathered a lot of data about which market to enter. You need to find a way to make a final selection and convince others in the organization. I'd suggest using a scoring chart. Across the top, put the key criteria that you're going to use to make your decision. The outcomes of a PESTEL analysis could be one method of comparison. You may choose to add some criteria in columns. The important piece of these criteria is to weigh them appropriately. You can adjust these based upon the relative importance of the criteria to your company or business scenario. If you're in a highly-regulated industry, you may want to change the weighting here. You could challenge each of these weights and discuss them with others involved in the decision-making process. The next step is to determine how you're going to turn your subjective inputs into quantifiable numbers so you can score your options. My personal preference…
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