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Forming a Methodical Approach to Identifying «Under-Served» Foreign Markets
Serpukhov M. Y.

Serpukhov, Maksym Yu. (2019) “Forming a Methodical Approach to Identifying «Under-Served» Foreign Markets.” Business Inform 8:34–45.
https://doi.org/10.32983/2222-4459-2019-8-34-45

Section: International Economic Relations

UDC 339.5

Abstract:
The article is concerned with testing the methodical approach to identifying the «under-served» foreign markets. The key challenge in activating the export activity and improving its efficiency is finding new, more attractive, markets with easy access and better terms of trade. In order to solve the task of finding new markets, a methodical approach is developed and tested on practical data. The method of identifying the «under-served» markets includes the 4 stages, where the selection of markets takes place according to different criteria. Export opportunities are evaluated in the first stage, which defines availability of the appropriate specialization in the export of products of the selected commodity group and the share of domestic exports in the world market. The second stage includes an evaluation of the potential for the development of external market. At this stage, the potential for the development of external markets is evaluated, which defines whether there are prospects for the development of a market in a certain commodity group. The third stage identifies the markets that have the largest volumes of imports of products and the share of domestic products on them. As a result, countries that consume significant amounts of goods to be exported are defined. The fourth stage evaluates the prospects for exports to «under-served» markets. According to the chosen criteria of market availability and the best terms of trade, prospective markets to which products can be exported are selected. At each stage, the structural blocks of the method of identifying the «under-served» market are considered; based on the practical data the markets for the production of 1101 «Flour from wheat or from wheat and rye mixture» are analyzed; the potential markets to which national enterprises can increase exports are identified.

Keywords: «under-served» markets, potential sale markets, exports, import substitution, trade barriers, protectionism, international trade.

Fig.: 8. Tabl.: 5. Bibl.: 10.

Serpukhov Maksym Yu. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Economics and Foreign Economic Activity Management, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

List of references in article

“Uhoda pro Pohlyblenu ta vseokhopliuiuchu zonu vilnoi torhivli (PVZVT)“ [Agreement on the Deep and Comprehensive Free Trade Area (DCFTA)]. http://eeas.europa.eu/archives/delegations/ukraine/documents/virtual_library/dcfta_guidebook_web.pdf
Didier, Brandao T., and Pinat, M. “The Nature of Trade and Growth Linkages“. Policy Research Working Papers. 2017. http://documents.worldbank.org/curated/en/900341502818068705/pdf/WPS8168.pdf
Mansfield, E. D., and Pevehouse, J. C. W. “The expansion of preferential trading arrangements International“. Studies Quarterly, vol. 57, no. 3 (2013): 592-604.
Marano, V., Cuervo-Cazurra, A., and Kwok, C. “The Impact of Conflict Types and Location on Trade“. International Trade Journal, vol. 27, no. 3 (2013): 197-224.
Deardorff, A. V., Do, Q.-T., and Levchenko, A. A. “Trade Policy and Redistribution when Preferences are Non-Homothetic“. Economics Letters, no. 155 (2017): 92-95.
Serpukhov, M. Yu. “Iierarkhiia instrumentiv prykhovanoho protektsionizmu u mizhnarodnii torhovelnii politytsi“ [A hierarchy of tools of hidden protectionism in international trade policy]. Visnyk Natsionalnoho universytetu korablebuduvannia. 2013. http://evn.nuos.edu.ua/article/view/23344
Trading economics. https://tradingeconomics.com/
Derzhavna sluzhba statystyky Ukrainy. http://ukrstat.gov.ua
Serpukhov, M. Yu., and Mazorenko, O. V. “Systematyzatsiia instrumentiv torhovelnykh viin ta prykhovanoho protektsionizmu“ [Systematization of trade war tools and hidden protectionism]. Biznes Inform, no. 11 (2017): 61-66.
“Pro skhvalennia Eksportnoi stratehii Ukrainy («dorozhnyoi karty» stratehichnoho rozvytku torhivli) na 2017-2021 roky“ [On approval of the Export Strategy of Ukraine (the "road map" of strategic trade development) for 2017-2021]. https://www.kmu.gov.ua/ua/npas/pro-shvalennya-eksportnoyi-strategiyi-ukrayini-dorozhnoyi-karti-strategichnogo-rozvitku-torgivli-na-20172021-roki

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