Imagine that you are an international business consultant to a fictitious company (you may choose an existing or new product or service) that has decided to explore the possibilities of expansion into a foreign market (country).
International business consultant to a fictitious company
Sample Answer
Client: "Apex Innovations"
- Core Business: A mid-sized company based in the United States specializing in high-quality, user-friendly smart home security systems. Their flagship product, the "Sentinel Hub," is a central control unit that integrates video doorbells, indoor/outdoor cameras, smart locks, and environmental sensors through a seamless mobile app. They pride themselves on excellent customer support and continuous software updates.
- Current Market: Primarily established and successful in the US market, with a growing but smaller presence in Canada. They sell primarily through their website, major electronics retailers, and select home improvement stores.
- Decision: Apex Innovations has experienced strong domestic growth but is approaching market saturation. Management is now seriously considering international expansion to fuel future growth and diversify revenue streams.
Target Foreign Market: Germany
- Rationale for Choice (Initial): Germany has a large, affluent population with a strong economy. There's a growing trend towards smart home adoption, and Germans are known for valuing quality, reliability, and security – traits that align well with Apex's brand. It's also a gateway to the broader European Union market.
Consultant Report: International Expansion Strategy for Apex Innovations into Germany
Date: October 26, 2023 Prepared For: Apex Innovations Leadership Team Prepared By: [Your Name/AI Consultant]