Country Market Selection in International Expansion Using Multicriteria Decision Aiding Methods

Abstract

Companies, facing globalization and technological revolution, are constantly forced to search for new ways to grow and develop. A profitable growth strategy can be built through international expansion. Recently it has become one of the few effective ways to develop and enhance the competitiveness of a company in response to the changing dynamics of the global economy. When a company is expanding its business operations to overseas markets a number of strategic decisions must be taken. The company must define the product it wants to market (what), the country market it wants to enter (where), the timing of entry (when) and the entry mode it wants to use (how). Consequently, the country market selection plays a critical role in shaping the performance of foreign activities and influences the future success of the company. This is a complex and difficult decision, requiring the company to analyse a wide spectrum of factors that affect both investment efficiency and effectiveness. The location selection in international expansion may be determined by general macroeconomic factors, demand factors, socio-political factors or cost factors. The purpose of this paper is to conduct a simulation of the market selection decision with the help of multi-criteria decision aiding methods based on the perspective of a dynamically developing company that is a leading manufacturer and distributor of hygiene, cosmetic and medical products.

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