Analyzing Market Potential With Industry And Technology Evolution Models
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In today’s challenging business environment, many companies are looking for opportunities for organic growth. One of the most common ways is by market expansion: looking for new geographical regions to sell their products in. This approach requires investment of time, money and resources, which makes evaluating the new segment extremely important. Traditional methods include sales forecasting which can act as a good measure to make strategic decisions. However, they can be static in nature and do not take into account the industry and technology levels of a developing country. The objective of this thesis is to utilize technology and industry evolution models to perform a more in-depth analysis of market potential for developing countries. Taking this approach allows the development of a framework that looks into evolving markets and finding the right products to sell which match the technology level in the target area. The life cycle models also provide an excellent source of information regarding future potential. This study shows that technology and industry evolution models provide a very effective means to evaluate developing markets. The gap between developing and developed countries is utilized to judge which industries and technologies offer the most potential in Pakistan. It also serves a basis to judge which products and applications should be left for later when the technology level increases as the industry in the developing countries grows. This study has been limited to comparisons between industries in Finland and Pakistan.