The document discusses current approaches to market definition that are unable to meet challenges for developing effective multinational market entry strategies. It proposes accounting for time-based effects to improve strategic planning by conceptualizing multinational markets in terms of media availability and economic development, which reflect an innovation's adoption rate. The framework is applied to data illustrating its ability to help managers achieve greater effectiveness and efficiency in global market expansion strategies.

1. Starting from the premise that market definition is critical to developing effective and efficient
market entry strategies, shows that current approaches to market definition are unable to meet
these challenges, that their deficiency is compounded for multinational entry strategies, and that
the crux of their weakness is reliance on a static interpretation of a dynamic construct – time. Next,
advances the proposition that accounting for the time-based effects can improve the strategic
planning process, and then, following the percepts of diffusion theory, develops a framework that
conceptualizes multinational markets in terms of their media availability and economic
development, key variables that reflect an innovation's rate of adoption at distinct stages of the
diffusion process. Finally, applies the framework to data that illustrate its ability to help marketing
managers achieve greater effectiveness and efficiency from their global, market expansion
strategies.
market dynamics
market driven
bio-economics
DefinitionSave to Favorites
Interaction between forces of demand and supply and the pricing signals they
generate. In most free (open) markets any significant part of market
dynamics is beyond the control of any firm or group.
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