Explain how a region analysis is done for venturing a product globally.
First of all the macro environment of the region will be studied. It will involve the study of following factors:
Economic Factor: One has monitor the economic trends like GDP trends, Interest rates, Money supply, Inflation rates, Unemployment levels, Disposable income.
Impact of following factors:
Efficiency of infrastructure, including roads, ports airports, rolling stock, hospitals, education, healthcare, communication, etc.
Political Legal regulations: One should also be aware of foreign trade regulations, attitude towards foreign companies as Pfizer wants to aspire to be a multinational company. It has to consider following factors:
* Political climate - amount of government activity
* Political stability and risk
* Government debt
* Budget deficit or surplus
* Corporate and personal tax laws
* Other economic laws
Demographic factors such as:
o population size and distribution
o age distribution
o education levels
o income levels
o ethnic origins
o religious affiliations
* Attitudes towards:
o materialism, capitalism, free enterprise
This solution explains how a region analysis is done for venturing a product globally.