Final answer:
In Phase 2 of the international planning process, analysis typically includes host-country constraints, product adaptation, and company character as part of the situation analysis. Budget development is a later step after strategies have been formulated.
Step-by-step explanation:
The analysis of host-country constraints, product adaptation, and company character is typically conducted in Phase 2 of the international planning process. This phase is often referred to as the situation analysis or the strategic analysis phase, where a company assesses various internal and external factors that could impact its international strategy. It involves a thorough analysis of the local business environment, regulatory constraints, cultural differences, and the identification of product or service modifications needed to succeed in the host country. The company's character is also analyzed to match its strengths and capabilities with the opportunities available in the international marketplace.
Developing budgets is usually a subsequent step after the situation analysis has been conducted and strategies have been formulated. It involves allocating financial resources to support the international activities that were identified during the planning process.