Situation:

You are hired to work on an "International Market Assessment" project for a Canadian company

1. The business:

Toronto-based Claire's is a small business producing a range of products, including essential oils and sprays, serums and face and body care. Prices are in the range of $ 30 to $ 65 and products can be purchased from the company's website or from selected retailers across Canada. As Claire's is aiming to expand its business into the European market next year, the business owner wants to know which country (or countries) are the most attractive to introduce its products.

2. The expected outcome:

The business owner expects a project proposal for assessing potential markets in the European Union. You are being asked to elaborate a plan for assessing the European Union market to introduce Claire's products

Elaborate a basic market assessment plan.

Your plan must answer the following key questions:

a) How to narrow the market down from 44 countries to the most five potential markets?

b) What kind of relevant information must be collected to narrow down 44 potential markets to five?

c) How to assess the five potential markets to identify the best market alternative?

d) What kind of relevant information must be collected/ processed in order to appropriately assess the potential markets and find the best market alternative?

Please provide references.