Market Analysis – an Integral Tool of International Marketing: Theoretical and Methodological Principles and Practical Significance

Abstract

The article considers market analysis as a fundamental tool of international marketing in the development of an international marketing strategy in conditions of growing economic turbulence. Its place in modern economic science and the system of managerial decision-making is determined. Key theoretical approaches to the study of market systems are outlined, in particular the traditions of classical, neoclassical, institutional and behavioral economics. Methodological models used for market assessment are revealed, including Porter's Five Forces, SCP approach, PESTLE and econometric forecasting methods. A typical structure of a comprehensive market analysis is presented and its scientific and practical significance for business entities is outlined.