A Research on Target Market Selection in International Markets

Abstract

Selecting a target market in a right and effective way, which is one of the very first steps of entering the international market, plays a significant role in achieving organization’s export goals and enhancing them. In this study, using conducting interviews, one organization in tower crane sector was examined in terms
of its goals and strategies in international target market selection. The company, which prefers international target market research with secondary data due to its fast results, time and cost advantage, has determined that the commercial deficit in the market and the increase in imports are the target market selection criteria. As a result of the analysis, it was seen that the company identified the UK market as a single target market. Besides in this study, using secondary data, international target market selection has been done for tower crane. The UK, Arab Emirates and Belgium, which are among the three criteria in the analysis based on market size, import growth by year, the basic criteria of having a trade deficit in the country and logistics and tax advantage, were identified as the target markets. In addition, it has been examined in terms of its potential to be a target market in countries within only two criteria. According to market size and trade
deficit criteria, the Saudi Arabian and Swiss markets were also found to be suitable as target markets. As a result, the UK, Arab Emirates, Belgium, Saudi Arabia and Switzerland are the target markets in this study. Focusing on the sector of tower crane, secondary data analysis will make a significant contribution to other
organizations in the same industry such that they can adapt the similar paths by entering the international market. Therefore, the study will contribute to those organizations to improve their export volumes and to achieve export-related goals as well as the growth and development of Turkey.