NaturaSkin, Inc., a small U.S.-based manufacturer of vegan skincare products with natural ingredients, feels that a market exists for its product in foreign markets. However, the company’s managers have no experience in the international environment and do not know how to proceed in forming a marketing strategy for international markets. They have decided to contact a marketing research firm to help with the process. The researchers recommend a “foreign market opportunity analysis” as a starting point for the company’s internationalization.

(a) What is the aim of a foreign market opportunity analysis?

(b) Which questions might a researcher ask to gather information for the analysis?

(c) What is the most probable cause of failure for a business or marketing research project in a foreign environment?