Inventory, Taxonomy and Assessment of Methods for International Market Selection

This article assesses the state‐of‐the‐art on the subject of international market selection based on a comprehensive review and synthesis of the literature. It provides an inventory, taxonomy and brief review of the normative quantitative models that have been proposed in the literature, and compares them to current business practices in selecting foreign markets. This comparison reveals a theory‐practice gap that is discussed in the context of the methodological and conceptual weaknesses of the models. Suggestions for future research are made.