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M-U4D
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Foreign Market Commonalities
Various factors or forces impact a company's decision to go into a foreign market and affect the outcome of that decision. If a country or market has several factors in common with the original market, or with the other markets selected when choosing several markets, it will be easier to enter that market.
If a U.S. software company that primarily creates and sells educational software on math, language, and even coding wants to expand into two foreign markets, what factor commonalities (as found in the learning activities) should the company be looking for when deciding on the two countries?
Provide two country suggestions and explain your reasoning.
references
https://www(dot)investopedia(dot)com/terms/f/franchise.asp
Chapter 4: “The Marketing Environment”
Chapter 5: “Developing a Global Vision”
https://www(dot)cengage(dot)com/dashboard/home
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M-U4D
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Factor Commonalities
A U.S. software company that aims to expand its market base to a foreign country must assess factor commonalities that will increase its chances of success. These factors include culture, demographic makeup, language, and technology (Lamb, 2024). The educational software on math, language, and coding must adhere to the cultural norms of the target market. Cultural blunders communicate incompetence or ignorance of the basics of the existing educational system (Lamb, 2024). The citizens of the target country must also be willing to use monetary resources for education. Cultural similarities between original and foreign markets improve the probability of franchises doing better than startups (Hayes, 2024). Moreover, the target market should consist of individuals who appreciate technological advancements and have the purchasing power to acquire relevant digital devices. Given that the U.S. software company sells educational software, its target consumers should be computer-literate and ...
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