ANALYZING AND CONSOLIDATING FACTORS INFLUENCING INTERNATIONAL MARKET SELECTION FOR MULTI-CRITERIA DECISION MAKING: A COMPARATIVE STUDY

Abstract

The study discusses the criteria for evaluating the international market selection (IMS) process in the Multi-Criteria Decision-Making (MCDM) field. While many IMS-MCDM techniques are available, they must explain the underlying reasons for the criteria and methodologies used in the International Market Selection (IMS) process. Therefore, this study consolidates these criteria into macro-criteria to serve as a reference for future research. The study identified seven macro-criteria that should be evaluated for the IMS process: perceived costs and benefits, cultural distance, economic factors, entry barriers, supply chain-related elements, industry-related factors