Group 3

1

Criteria in Selecting Country Market

When a company develops a product, it must develop a market. Some companies decide to activate foreign markets depending on the product and the traction. The criterion for selecting the national market is very important, because it determines the success of the product in the new market. Companies must define the goals and objectives they hope to achieve through marketing. After this event, a comprehensive assessment will be conducted on the new target market, the legal system and the business environment's support for the new product. A good example is Johnson & Johnson (Sakarya et al., 2007). The company has operations in 60 countries around the world. The development of a device that integrates glucose meter and insulin pump is an important device that would change the lives of people. However, according to the company's business model, they must evaluate in which markets these devices will do well. This fact is important to ensure the success of the product.

The best criterion for selecting a national market is the original global market selection criteria. The process includes environmental and market analysis. This involves making a list of potential countries/regions that meet the target marketing and then evaluating them based on different factors. These factors may include country risks such as GDP growth, political and social unrest, and geographic proximity. Then analyze according to the market attractiveness, where each country/region must meet the demand of the product and have the least risk. The analysis can also be based on the possibility of operational difficulties, such as business management costs, local competition, and taxation (Deaza et al., 2020). The second step is to analyze the competition in the market which involves identifying the main competitors, analyzing the economic evolution, and detecting distinguishing factors such as expansion strategies, identifying main competitors and channels, and market maturity, among others.

The fourth step is to choose a distribution channel, which determines how the company expands the market. This fact includes analysis of the local distribution, international distribution from the company’s market to determine the distribution channels, and the prices of the products you intend to sell. The final step is to analyze the demand for the product based on the profile of the country's market and the expected evolution. All these steps will guide the country in designing the marketing strategy, presentation, pricing, branding, distribution, and promotion of the products.

Based on the criteria above, the selection of the country market for the new device developed by Johnson & Johnson. The criteria of picking the countries are based on the statistics of diabetes cases in the country's population. Comparison and comparison are based on the United States.

Table 1: Potential Country Markets contrast on the Above Criteria as Compared to the US

Criteria	Ireland	China	Kenya
The demand of the Product	The demand for this product is low because the country has the lowest reported cases of diabetes in the world.	Since this country has the highest incidence of diabetes in the world, the demand for this product is high.	As the country has many cases of diabetes, the demand for diabetes equipment is moderate.
Competition	Since there are medical device companies, the competition is mild, so the demand for products will be based on quality.	The competition is high as the country has several medical device companies that are considerably low priced as compared to Johnson & Johnson’s premium ones.	Since there are not many companies manufacturing medical devices, there is little competition.
Distribution Channels	Medical device suppliers receive strong support from the government, making it easy to distribute medical devices in the private and public sectors.	There are few distribution channels because the distribution channels are mainly in the private sector.	The distribution channels are favorable as the distribution is supported by both medical suppliers and medical retailers.
Country Risks	The Irish government has always supported foreign investment in a bid to increase employment opportunities. The country is politically and socially peaceful, which makes it good for business.	The country has a huge GDP, which means that there are favorable factors to support the growth of the product in the market. The country has political and social rest, which is conducive to entrepreneurship.	This is a developing country, which means its GDP is very low. However, in terms of business establishment processes and procedures, it is considered the best country in Africa. The country has experienced political uprisings, especially after elections, which may affect businesses and distribution channels.

Based on the criteria above, the selection of the country market for the new device developed by Johnson & Johnson. The criteria of picking the countries are based on the statistics of diabetes cases in the country's population. The comparison and comparison are made in comparison with the United States.

 References

Boccardi, V., Murasecco, I., & Mecocci, P. (2019). Diabetes drugs in the fight against Alzheimers disease. Ageing Research Reviews, 54, 100936. doi:10.1016/j.arr.2019.100936

Deaza, J. A., Díaz, N. F., Castiblanco, S. E., & Barbosa, M. I. (2020). International market selection models: A literature review. Tendencias, 21(2), 191-217. doi:10.22267/rtend.202102.147

Johnson & Johnson. (n.d.). Retrieved June 19, 2021, from https://www.jnj.com/

Sakarya, S., Eckman, M., & Hyllegard, K. H. (2007). Market selection for international expansion. International Marketing Review, 24(2), 208-238. doi:10.1108/02651330710741820