Should we enter this market, country, or segment, and if so, how? Half the marks are in the "how," which most candidates skip straight past.
Three questions, in order. Skipping ahead to "how" before answering the first two is the most common mistake here.
Size, growth rate, typical margins, competitive intensity. Is this a market worth being in at all, regardless of who's asking?
Do we actually have the capabilities, brand, distribution, or cost position to succeed here, or would we be a weak new entrant regardless of how attractive the market is?
Build (organic, slow, full control), buy (acquire a local player, fast but expensive with integration risk), or partner (JV/licensing, fast and lower risk but shared upside).
Approximate cost to enter vs. expected payback period, a sense check on whether it's worth it before you recommend how.
A UK budget gym operator is considering expansion into France.
Recommendation: enter via acquiring a small existing regional player rather than building from scratch. It buys the local relationships and brand presence the chain doesn't have, in a market that's attractive but not empty.
Stopping at "yes, we should enter" without addressing how. And skipping the right-to-win question entirely: a great market doesn't automatically mean a great fit for this specific client.
Worth knowing all four before you walk in, you won't always get to pick which one shows up.