A preliminary market analysis Essay Example | Topics and Well Written Essays - 500 words

A preliminary market analysis - Essay Example The Middle East is the other promising market. However, success depends on detailed market analysis and entry strategy formulation. Thus, it is desirable that the Strategic Officers Steering Committee of Walden International should kindly permit a thorough study of a business plan for the global market entry of Able Corporation. Abel Corporation has succeeded in proving itself in the domestic market and domestic consumers have a high regard for this organization as a manufacturer of power tools, lawn products and appliances. However, despite a global financial crisis that is apparent from the data released by the International Monitory Fund, opportunities are available for the future in global markets (International Monitory Fund, 2008, â€Å"World Economic Outlook Update†), (Deneen, 2006, Pp. 1) and (Bharat Book Bureau, 2004, Section 1,1). Business researchers predicted that the global electric household appliances market would cross 498 million units by the year 2010 (Electronics.ca, 2008, â€Å"Global Market for Major Electric Household Appliances to Cross 498 Million Units by 2010†). In addition, business research had suggested that the global demand for lawnmowers would show a substantial increase by the year 2011 and the global demand for power tools would increase to a value of US$ 29.2 billion in 2009. Thus, it is possible that a global expansion will provide benefits for Abel Corporation. However, it is important to know which markets are worthy of attempts at entry, what timing of entry is likely to prove to be of the greatest benefit and what entry strategy is likely to work best for specific markets. In addition, it is also important to know if the current financial crisis warrants a revision of the previously mentioned forecasts and what is the likely state of the markets now. Thus, it is important to conduct a comprehensive market analysis leading to a well thought strategy for