Export Target Market 2 | Javon Motley

EXPORT TARGET MARKET 2 Export Target Market Javon Motley The University of

This report aims to define the international markets for exporting insulin produced by Humulin, a U.S.-based company. It evaluates various countries based on several criteria including export volume, GDP per capita, insulin consumption, and population size, using a weighted decision matrix to identify the most viable markets. The goal is to formulate an effective export strategy considering environmental factors, trade relations, and market demand to expand Humulin’s global footprint.

The methodology involves collecting data from credible sources such as Statista, Gazelle, IBIS World, and USITC trade data web. Using a decision matrix, multiple criteria—such as export volume, national GDP per capita, insulin consumption rates, and population size—are assigned weights based on their importance in the export process. Countries are then scored according to these criteria, with higher scores indicating more promising markets. The top candidates identified through this process are Mexico, China, and Germany, driven by their trade volumes, economic strength, and demand for insulin.

The background backdrop of this analysis emphasizes the global increase in diabetes, which boosts demand for insulin therapeutics. Considering the production capacity of Humulin and the rising global need for insulin, entering markets with substantial market sizes and favorable trade relations is essential. Mexico emerged as the leading market owing to its significant export relations and per capita income, followed by China for its large population and growing diabetes prevalence, and Germany for its high GDP per capita and mature healthcare infrastructure.

The decision matrix employed assigns specific weights to each criterion to reflect their relative importance: export volume (25%), GDP per capita (20%), insulin consumption (30%), and population size (25%). Portugal, Germany, and China scored highly owing to their robust trade relations, substantial insulin demand, and overall economic health. This quantitative assessment supports strategic recommendations for market entry, prioritizing these countries for expanding Humulin’s export operations.

Paper For Above instruction

In an increasingly globalized healthcare industry, pharmaceutical corporations like Humulin need to strategize their international market expansions carefully. The rising prevalence of diabetes worldwide creates a significant demand for insulin, making global expansion a lucrative move. This paper critically examines the process of selecting optimal export markets for Humulin, employing a quantitative decision matrix based on several economic and demand-driven criteria. Through detailed analysis, this research identifies Mexico, China, and Germany as the most promising markets based on a weighted scoring approach.

The translational journey of insulin from production to global markets involves understanding complex variables such as bilateral trade relations, economic capacity, consumption rates, and demographic trends. The decision matrix method offers a systematic way of weighing these factors, allowing for objective evaluation. For example, export volume and trade relations broadly reflect logistical feasibility and governmental openness, whereas GDP per capita and Insulin consumption directly indicate market capacity and demand potential.

Market Analysis and Data Collection

Data collection was drawn from multiple reputable sources to ensure accuracy and comprehensiveness. Statista provided insights into export figures, GDP per capita, and population numbers; Gazelle and IBIS World contributed industry-specific demand data; while USITC trade data offered official export-import figures. The integration of these sources facilitated a multi-dimensional analysis, ensuring that the selected markets are viable not only in terms of current trade relations but also future growth potential.

Evaluation Criteria and Scoring

The criteria selected encompass four key dimensions: total US exports to the country, GDP per capita, insulin consumption, and population size, each weighted according to their importance. Export volume and trade relations (25%) determine logistical and diplomatic feasibility, while economic capacity (20%) assesses the country's ability to sustain demand. Insulin consumption (30%) directly measures market need, and population size (25%) indicates overall market potential. Countries are scored on a scale of 1-10 for each criterion, and final rankings are produced by aggregating these weighted scores.

Results and Recommendations

Applying the decision matrix, Mexico emerged as the top market, primarily due to its high trade volume with the U.S., moderate GDP per capita, and rising insulin demand driven by increasing diabetes prevalence. China follows, largely owing to its large population and expanding healthcare infrastructure, despite lower per capita trade relations. Germany ranks third, supported by its high GDP per capita and demand for high-quality insulin therapies. These results suggest that Humulin should prioritize Mexico for immediate expansion, with a focus on establishing collaborative trade agreements and distribution channels, followed by strategic entry into China and Germany.

Implications for Strategists

Strategic implications include tailoring marketing approaches to each market's unique attributes. In Mexico, emphasis should be placed on strengthening supply chains and leveraging existing bilateral trade agreements. In China, attention should be given to navigating regulatory environments and establishing local partnerships. For Germany, quality assurance and compliance with high regulatory standards will be crucial. Continuous monitoring of these markets using updated data and adjusting strategies accordingly can sustain growth and mitigate risks.

Conclusion

The decision matrix provides a structured and data-driven framework for identifying optimal export markets for Humulin insulin. By focusing on Mexico, China, and Germany, the company can align its resources efficiently, maximize market penetration, and meet the global demand for insulin. The approach underscores the importance of integrating quantitative analysis with strategic planning in international healthcare marketing, ultimately enabling Humulin to expand its global footprint responsibly and sustainably.

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