Market analysis and assessment identifies a small number of variable markets by eliminating those that are unattractive.
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Define the FINAL three steps in the recommended sequence of market screenings.
Market screening consists of a methodology which includes analyzing, going in-depth and scanning potential or even desirable markets with respect to the environmental factors. This certainly helps in preventing any sort of undesirable markets. It is a form of the scanning which includes environmental scanning, country scanning, and even an in-depth segment scanning. The steps followed are in a priority of the order which needs to follow the screening process (McCulloch, 2012). It includes an updated version with respect to the proper analyses on the environmental scanning that helps in identifying the firm with respect to the various markets and also includes various environmental forces which can help in reducing any chances for the less desirable markets.
For this, the final three steps include the
1) Countrywide screening and identifying potential economic factors or parameters such as GDP, Inflation etc.
2) segment screening which includes going in depth in determining which segments have a potential growth. The market screening helps in also understanding the growth segments, underdeveloped and the developed segments.
3) The market screening also accesses the potential areas where it is lacking after which there would be no reasonable expenditure which can be identified in determining the effort and money which can allow the firm to deliver per the desired goods services. This helps in easier access for the potential producers to develop a strategy while surveying and including the industrial materials or even certain equipment other than the widely used consumer products.
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