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COUNTRY SELECTED: NICARAGUA,please help with the following questions Describe the target markets demographic and composition . Describe the sociocultural environment of your target market. Your
COUNTRY SELECTED: NICARAGUA,please help with the following questions
- Describe the target markets demographic and composition.
- Describe the sociocultural environment of your target market. Your response should include the following: cultural dimensions, professional and personal etiquette, and communication.
- Based on your PESTEL analysis, summarize the external macroenvironmental risks and opportunities.
- Describe the international trade environment that impacts the marketability of your companys product in the target market. Your response should address the following: major trading industries and country partners, regional or bilateral trade agreements, and trade restrictions.
- Situational Market Summary
- Complete the TOWS MATRIX identifying the relevant factors.
- Using the TOWS analytical framework, develop a written analysis that describes how your company can address the findings from the TOWS in ways that best match internal factors to external factors to best position the company for opportunities and against risks in the foreign market.
- Internal Strengths and External Opportunities (S-O): Analyze how your company can use their strengths to benefit from existing external opportunities.
- Internal Strengths and External Threats (S-T): Analyze how your company can benefit from their strengths to avoid or lessen (potential) external threats.
- Internal Weaknesses and External Opportunities (W-O): Analyze how your company can use opportunities to overcome their internal weaknesses.
- Internal Weaknesses and External Threats (W-T): Analyze how your company can minimize weaknesses and thus avoid potential threats.
- Synthesis of Factors: Synthesize and assess the most important factors above to help identify relevant strategic options that the company could pursue.
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