Describe the four factors that contribute to the likelihood of success for a product or service in an international market

What will be an ideal response?

Products or services with the best international prospects tend to have one or more of the following characteristics:
? Sell well in the domestic market. Offerings received well at home are likely to succeed abroad, especially where similar needs and conditions exist.
? Cater to universal needs. For example, buyers worldwide demand personal-care products, medical devices, and banking services. International sales may be promising if the product or service is unique or has important features that are appealing to foreign customers and are hard for foreign firms to duplicate.
? Address a need not well served in particular foreign markets. Potential may exist in countries where the product or service does not currently exist, or where demand is just starting to emerge.
? Address a new or emergent need abroad. Demand for some products and services may arise suddenly from a disaster or emergent trend. In Haiti, for example, an earthquake created an urgent need for easy-to-build housing. In emerging markets, growing affluence is spurring demand for restaurants and hospitality services.