Please use this identifier to cite or link to this item: http://hdl.handle.net/1946/13900
Internationalization represents an enormous undertaking for any company and especially for small companies taking their first tentative steps in the world of business. One of the most important aspects of a successful internationalization effort is gaining a good understanding of the theoretical background to internationalization as well as a sound knowledge of the assorted methods that have been productively applied in previous efforts.
This thesis offers a theoretical insight into the internationalization and market selection process. Using a theoretical approach that includes stage analysis and country ranking, it identifies the optimal market for an Icelandic invention made by the entrepreneur software company Snarpur. The research presents a three-stage process in which the goal of each stage is to eliminate less favorable countries until the optimal foreign market for Snarpur is found. This process effectively constitutes a new research method which simplifies the selection process and is tested by selecting a market for Snarpur. The first stage is the preliminary screening process in which the aim was to eliminate those countries that offered no potential for Snarpur and to keep those that showed promise of future prospects. The second stage is the screening process in which the selected countries were compared by using secondary data. The third stage is the final selection stage which gives detailed information on the remaining countries and takes a more company- and product-specific approach. Denmark, Norway and Sweden were identified as the most promising international markets for Snarpur and Sweden was chosen to be the first market foreign market for Snarpur to enter.
This study has significant practical value for Snarpur in particular, but it also provides some general lessons for Icelandic entrepreneur companies considering entry into international markets.
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