Assessment of the market potential of African countries

Abstract

The aim of the article. The purpose of the article is to development of a methodology for assessing the attractiveness of the market of African countries for domestic enterprises. The results of the analyses. The reasons that prevent the development of the African sales market have been identified: the opposition of world power centers; non-transparency of funding and total corruption at all levels of government; low level of technology development; cultural, religious and social contradictions in many countries; complex epidemiological situation; lack of necessary transport infrastructure; low level of population urbanization; low level of literacy. A methodology for assessing the attractiveness of the market of African countries is proposed based on the use of five criteria: potential market capacity, dynamics of market sales, complexity of marketing efforts for the enterprise, project payback terms, product complementarity to the enterprise's current business. Conclusions and perspectives for further research. For successful work in the African market, it is necessary to perform the following actions: make more significant efforts in studying the foreign market and carefully adhere to the principles of marketing; set high requirements for the quality, knowledge, technical level of goods, service, advertising, packaging, design; strictly take into account the requirements of foreign markets, their conditions, potential, opportunities for diversification on it; use close direct relations with foreign consumers, intermediaries, brokers, participate in auctions, fairs and exhibitions, use leasing and other methods that would contribute to the expansion of foreign economic relations; take into account the peculiarities of the global market: the presence of competitors, their prices, terms of sale of goods, volume of sales, advertising, methods of distribution and promotion of goods and services