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Chapter 8 & 9 – A discussion on Research, market entry and expansion

Chapter 8 & 9 – A discussion on Research, market entry and expansion. Group 1 | Kimbralee Mosman, Sumitra Nilavatanakul, Miguel Tamez. Defining the issue. What is marketing research ? What is the difference between International and Domestic Research?. Sumitra.

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Chapter 8 & 9 – A discussion on Research, market entry and expansion

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  1. Chapter 8 & 9 – A discussion on Research, market entry and expansion Group 1 | Kimbralee Mosman, Sumitra Nilavatanakul, Miguel Tamez

  2. Defining the issue • What is marketing research? • What is the difference between International and Domestic Research? Sumitra

  3. What is marketing research? • Marketing research is the function that links the consumer, customer, and public to the marketer through information

  4. What is the difference between International and Domestic Research?

  5. International V.S. Domestic

  6. Why is there a Need for Research? It is the ways that Company can be Successful…….. What is the marketer needs to know from the research? what customer want? Why they want it? How they go about felling their need?

  7. reasons why firms are reluctant to engage in inter-marketing activities • Lack of sensitivity to differences in culture, consumer tastes, and market demands • Limited appreciation for the environment (Labour rules, distribution systems, the availability of media, or advertising regulations) • Lack of familiarity with national and international data sources and inability to use international data once obtained

  8. What are the Research Objectives? Objectives will vary depending on the views of management,the corporate mission of the firm, and the marketing situation. • Going international :exporter • Going international :importer • Market expansion

  9. Most critical International Information for U.S. firms: A) Macro Data: tariff Information, U.S. export/import data, nontariff measures, foreign export/import data; and data on government trade policy B) Micro Data: Local Laws and Regulations, Size of the market, local standards and specifications, distribution system, and competitive activity.

  10. Source of data • Source of data • Governments • International organization • Service organizations • Trade Associations • Directories and Newsletters • Electronic Information Services • Other Firms • Evaluating of data • Analyzing and interpreting Secondary data

  11. research • What is the importance of marketing research? Kim

  12. What does the primary research involve? • Determining Information Needed • Industrial versus Consumer Research • Determining Research Administration • Centralized approach • Coordinated approach • Decentralized approach Kim

  13. RESEARCH Techniques • Interviews • Focus Groups • Observations • Surveys/ Questionnaire • Question Format • structured/unstructured • direct/indirect • ensure data equivalence • Question Content • Question Wording

  14. RESEARCH Techniques (Cont.) • Develop a Sample Plan • Relevant, Timely, Flexible • Accurate and Convenient

  15. RESEARCH Techniques (Cont.) • Data Collection • Analyze and interpret primary data • Present research results • Follow-up and review • Research on the Web

  16. THE INTERNATIONAL INFORMATION SYSTEM • Environmental Scanning • Content Analysis • Internal/external corporate groups • Delphi Studies • Scenario Building/ Analysis

  17. Chapter 9 – market entry/expansion • How does research play an important role in market entry and expansion?

  18. Change agent

  19. E-COMMERCE Miguel • E-commerce, the ability to offer goods and services over the Web. • Should: • Accept international means of payment • Provide 24 hour service • Provide protection to customer identity

  20. LICENSING & FRANCHISING • Licensing and Franchising are market expansion alternatives used by all types of firms. • Licensing, one firm, the licensor, permits another to use its intellectual property in exchange for compensation designated as a royalty. • Franchising, a parent company grants another , independent entity the right to do business in a specified manner.

  21. LICENSING & FRANCHISING • Assessment of Licensing • Does not require capital or knowledge or marketing strength in foreign markets. • Proven concept • Reduced risk of government intervention and terrorism.

  22. FOREIGN DIRECT INVESTMENT • International investment flows that acquire properties and plants. • FDI is the largest source of external financing to developing countries.

  23. Source: United Nations Conference on Trade and Development

  24. FOREIGN DIRECT INVESTMENT Reasons for FDI • Resource Seekers • Market Seekers • Efficiency Seekers Government Incentives • Fiscal incentives for specific tax measures • Financial incentives for special funding • Nonfinancial incentives of guaranteed government purchases.

  25. Types of Ownership Full ownership Joint venture • Advantage of joint venture • Disadvantage of joint venture Strategic alliances Government consortia

  26. questions

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