International Market XYZ Case Free Essay Example, 1500 words

XYZ has been focused on manufacturing and exporting tattoo remover. It is a product made from a unique chemical formula purposed to removing a tattoo from the skin. The tattoo product has been tested, tried and trusted for being simple in usage, highly efficient, cheaper than other tattoo removal products such as the initially used cream products and use of lasers in removing tattoos and has no side effects after use such as producing scars on applied areas. XYZ would like to expand its trading to overseas and thus need for an international marketing feasibility study. The best way for conducting this feasibility study is through applying the step-by-step global market research methodology. The first phase of the survey is as below: Step 1: Finding Potential MarketThe chart below shows the market situation of tattoo removal product as from the year 2012 to 2016, worldwide and in specific countries that offer this product and this would aid in choosing a viable market for XYZ expansi on overseas. (The values are given in trillion sales (tn)). Based on the data from the table, it is clearly evident that Canada is the leading country in consumption of the peculiar tattoo remover. We will write a custom essay sample on International Market: XYZ Case or any topic specifically for you Only $17.96 $11.86/pageorder now Its use of such product was highest in the year 2014, and since then it had been gradually falling to a season-low last year. It may indicate the slow decline of business in line with our product thus a reduced area of investment. Mexico comes second in supply and consumption of the intended product. It started slowly in the year 2012, but since then it has experienced a gradual increase in consumption with the highest being in the year 2014 and after that trade in this line started falling gradually. It may be due to various factors to be analyzed in the paper later on. China is experiencing the same situation as the entire world in the trade in tattoo removal product by starting low in this trade and reaching a maximum high in 2014 after which the business started falling again.