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Chapter 8: Research

Chapter 8: Research. Presented by: Tien Nguyen. What Is Marketing Research .

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Chapter 8: Research

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  1. Chapter 8: Research Presented by: Tien Nguyen

  2. What Is Marketing Research • Marketing research is the “Systematic and objective identification, collection, analysis and dissemination for the purpose of improving decisionmaking related to the identification and solution of problems and opportunities in marketing

  3. International and Domestic Research • New Parameters: foreign currencies, transportation • New Environments: Different culture, language • Competition: much more competition

  4. Process of Researching Foreign Market Potentials • Defined Objective • Scan the environment • Narrow down few countries • Start Research

  5. Secondary Data • Governments Sources: population trend, trade flow, and specific industry • International Organizations: worldbank.org, wto.org, imf.org • Trade Associations: information about the local markets • Directories: Yellow Book • Electronic Information Services (data base) exchanges rates ,international news

  6. Problem Associate with Secondary Data • Bias • Outdated Data • Comparability • Data Privacy: Privacy law

  7. Primary Researching Process • Determined information Requirements • Determined research administration • Centralize or Decentralize • Outside Research Services

  8. Primary Data • Interviews: bias, obtain in depth information • Focus Group: aware of culture discussion process • Observation: observers different perception • Qualitative: behavior patterns and predict the events

  9. Surveys Problem • limited record about their location,multiple family live in one house • Street map or address directory might not be available • Lack of phone directory • Women may not allow to interview

  10. How to Solve Surveys Problem? *Adjustment of details to country by country • Question Content • Question Wording: keep question clear and simple • Data Collection: should compared with secondary data

  11. Environmental Scanning • Any changes in business environment • Tracking new development • Continuously receive information on political, social and economic

  12. Delphi Studies • Useful to gather factual qualitative data from a group of expert • Thru email, about 30 participant • Agreement and disagreement about a specific issue • Statement can be challenged • Based on Consensus Exp: Future development of international trade environment

  13. Chapter 9: Market entry and Expansion • Proactive Stimuli: go international because they want to • Reactive One: go international because they have to • Proactive is more likely to success

  14. Proactive Stimuli • Profit advantage • Unique Products • Technological advantage • Exclusive information • Economic of scale • Market Size

  15. Reactive Stimuli • Competitive pressure • Overproduction: Lower cost • Declining domestic sales • Excess capacity • Saturated domestic markets: Extend product life cycles • Proximity to customers and ports

  16. Change Agents Internal • Enlightened management • New management • Significant internal event

  17. External Change Agents • Demand • Other firms • Domestic Distributor • Banks • Chambers of commerce • Governmental activates

  18. Key Corporate Export Stages • Awareness: domestic market is too small • Interest • Trial: export small psychological close countries • Evaluation: Profit and Product Accetant • Adaptation

  19. Intermediaries • Export directly • Sell to domestic firm then in turn sells abroad • Export management companies and Trading company • E- Commerce • Alibaba.com: target small and medium sized business who would like to export to China • Ebay.com

  20. Licensing and Franchising • The licensor permits another to used its intellectual property in exchange for royalty • No need for capital investment nor knowledge of foreign market • A franchiser grants the franchisee the right to do business in a specified manner • Financial gain and Saturated domestic markets • Standardize but need adjustments to local needs

  21. Foreign Direct Investment • Represents international investment flows which acquire properties and plants • FDI has grown rapidly: 1967 were $105 billion to $9.7 trillion by 2004 • Market factors: tariffs ad other import restriction • Resources and low labor cost • Government Incentives: tax, land loans • Protection through tariffs and import quotas

  22. Joint Ventures • Partnership • Pool resources and lead to a better outcome • Partner familiarity with the culture and local environment • Conflict of interest • Disclosure of sensitive information • Disagreement over how profits are to be shared

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