What is a domestic market?

According to Cambridge Dictionaries Online, the domestic market is: “The number of customers who buy or may buy products and services offered by companies within their own country.” Many Swiss multinationals generate more sales in their US and EU markets than in their domestic market.

Why are manufacturers looking to the domestic market?

Manufacturers are looking increasingly to the domestic market for opportunities, where growth remains strong. The strong domestic market means that unlike most ready-to-wear designers, accessories brands can build sturdy foundations before they start exporting.

How has competition developed in a domestic market?

Competition has developed successfully in the business end of the market, and more recently in the domestic market. There are certain limitations when competing in a domestic market, many of which encourage firms to expand abroad. Industrial production is directed primarily to domestic market.

Is the European Union a domestic market?

The European Union (EU) as a whole is considered to be a local domestic market. The European single market comprises the 27 member states of the European Union with certain exceptions. The single market aims to ensure the unrestricted flow of people, capital, products, and services.