Analysis of Methodological Approaches Towards Assessing Conditions of International Commodity Markets Convergence

In: European Journal of Sustainable Development: EJSD, Band 10, Heft 3, S. 214

Open Access

Abstract

To analyze different methodological approaches to determining the marketing attractiveness of international markets and their convergence assessing. Develop an indicators system for assessing the convergence of international markets to determine their marketing attractiveness for domestic agricultural enterprises. The international markets have been rated on the basis of summing the ranks of indicators of attractiveness method of their business environment for Ukrainian farmers by the product group «1008 Buckwheat, millet and other cereals» in order to identify more favorable conditions for doing business. The application of this approach allowed to develop a target portfolio for further targeting the implementation of the internationalization strategy by domestic producers of the product group «1008 Buckwheat, millet and other cereals». The methodological basis of the study are general and special research methods: epistemological and systems analysis - in the study of «economic convergence» definition; systems theory and systems analysis - to analyze of process determining the marketing attractiveness of international markets and assessing their convergence; statistical analysis, synthesis and comparison ‒ to identify trends in the entry of agricultural enterprises of Ukraine to international markets; comprehensive assessment of the convergence of agricultural enterprises of Ukraine under the conditions of international diversification. It has been proved that in the expert assessment of convergence indicators the markets of foreign countries, the indicators of which are as close as possible to the economy of Ukraine, should be singled out. It has been determined that the markets of Austria and Nigeria are promising for domestic agricultural enterprises, producers of the commodity group «1008 Buckwheat, millet and other cereals», with the possibility of overcoming a significant gap in certain indicators, namely: the market of Austria, Nigeria where there is low quality regulation and also unfavorable investment conditions. The scientific and methodological approach to the complex assessment of the convergence of new international markets for domestic agricultural enterprises under the conditions of international diversification has been substantiated and developed. The result of the evaluation allowed to come up to the conclusions about the marketing opportunities of domestic agricultural enterprises under the conditions of entering the markets of these countries. As a result of the proposed approach, it is possible to identify foreign markets that demonstrate favorable conditions for doing business in them, which indicates the presence of convergent conditions, which is a prerequisite for the entry of goods of domestic agricultural enterprises in the markets of these countries. As a result of the proposed approaches, there were identified new international markets, that demonstrated favorable conditions for doing business in them by domestic agricultural enterprises producing the product group «1008 Buckwheat, millet and other cereals». It has beed developed in the study a target portfolio for further targeting the strategy implementation of internationalization domestic producers of the product group «1008 Buckwheat, millet and other cereals».