SlideShare une entreprise Scribd logo
1  sur  92
Télécharger pour lire hors ligne
Identifying International Market Opportunities
       and Undertaking Market Research



            International Marketing 463-441
                       Lecture 4
Undertaking Market Research




Identifying International Market Opportunities
             (Various Approaches)
Market Research
Developing Market Opportunities and Strategies

                                Marketing Managers

     Analysis      Planning           Implementation     Organisation    Control


                         Developing Needed Information

 Assessing                                                               Distribution
                         Internal               Information
Information                                                              Information
                        Databases                 Analysis
   Needs


                          Market                 Marketing
                        Intelligence             Research




                               Marketing Environment

Target Markets   Marketing Channels    Competitors   Publics   Macro environment forces
Market Targeting                           Market Positioning
Market Segmentation
                                              Develop Measure of                          Develop positioning
   Identify bases for                        segment attractiveness                       for market segments
 segmenting the market
                                             Select target segment                     Develop a marketing mix
Develop segment Profiles
                                                                                          for each segment


                      Major Segment Variables for Consumer Markets
              Existing Product Sales, MarketVariables
                                Geographic share, Growth and Decline,
                              RelativeRegion and/or countryetc.
                                 World market sizes,
                                                  City and/or region
                                                        Density
                                                       Climate

                                                  Demographic
  Age, gender, family size, family life cycle, income, occupations, education, religion, race, generation, nationality

                                                   Psychographic
                                          Social class, lifestyle, personality

                                                   Behavioural
               Types of occasions and festivals, existing market cultures, user status, loyalty status,
                               concept readiness stage, attitude towards products
Defining the problem and research objectives




Developing the research plan for collecting information




          Implementing the research plan –
           collecting and analysing the data




        Interpreting and reporting the findings
International Marketing Lecture 4
Primary Data Collection

  Research
                         Observation, Survey, Experiment
  Approach



Contact Methods          Mail, Telephone, Personal, Online



 Sampling Plan    Sampling unit, Sample size, Sampling Procedure



   Research
  Instruments         Questionnaire, Mechanical Instruments
Strengths and Weaknesses of Each Method

                           Mail      Telephone   Personal     Online

Flexibility                Poor        Good      Excellent    Good

Quantity of data that     Good         Fair      Excellent    Good
can be collected
Control of interviewer   Excellent     Fair        Poor        Fair
effects
Control of sample          Fair      Excellent     Fair        Poor

Speed of data              Poor      Excellent    Good       Excellent
collection
Response Rate              Fair        Good       Good        Good

Cost                      Good         Fair        Poor      Excellent
Types of Samples

                             Probability Sample
Simple Random       Every member of the population has a known and equal chance
Sample              of selection

Stratified Random   The population is divided inot mutually exclusive groups (such
Sample              as age groups) and random samples are drawn from each group

Cluster (area)      The population is divided into mutually exclusive groups (known
Sample              as blocks) and the researcher draws a sample of the groups to
                    interview


                            Nonprobability Sample


Convenience         The researcher selects the easiest population members from
Sample              which to obtain information, using their own judgment as to
                    which members are good prospects to collect information.
Judgment Sample     The researcher finds and interviews a prescribed number of
                    people in each of several catagories.
Steps in the Market Research
             Process

   1. Define the research problem and establish research objectives
2. Determine the sources of information to fulfill the research objectives
        3. Consider the costs and benefits of the research effort
4. Gather the relevant data from primary or secondary sources, or both
            5. Analyse, interpret and summarize the results
     6. Effectively communicate the results to the decision makers




                   Cateora and Graham pp. 216-221
Measuring Market Segments


Must attempt to determine how big is the actual market
Approaches to Estimating Market Sizes (making assumptions)



        Technique                 Method                          Impact
Multifactor Analysis    Analysing the target market    A real assessment of the
                        potential by comparing it to   target market, subject to
                        the US economy                 cultural differences
Coefficient of Income   Evaluating the target market   A good estimate of the
Sensitivity             economy by detecting           expected changes in the
                        marginal changes and their     target market
                        implications
Trend Analysis          Looking at the performance     A simple way of estimating
                        of the target market,          the target market growth
                        projecting into the future
Macrosurvey             Observing relative level of    A crude method of
                        development of the target      determining the quality of
                        market to decide how ready     the target market and its
                        it is for products             potential
Multifactor Analysis




     Evaluate a market on the basis of the size of another market.
     Utilize indicators like refrigerator ownership, per capita, TV sets
      Per capita, establishing a quality index for the target market.

        i.e., US is 100%, target market may have index of 15%
        Population of target market x as percent of US market.
    Adjusted market figure x by sales of refrigerator, TV sales in US.

If the quality of the market is 15% of the US and population 10% of the US
                             The market potential is
                    0.15 x 0.10 = 0.015% or 1.5% of the US
Coefficient of Income Sensitivity




        As income of a target market is set to change,
        the impact of the change is not homogeneous.

           A 1% change in income may bring a 27%
increase in food items and a 2% decline in public transportation.
Trend Analysis




 Using past information about a target market’s income and
Consumption patterns, by using trend analysis, this information
               Can be projected into the future.
Macrosurvey




In countries where inadequate data exists, can observe how advanced
Communities are. Then approximate the level of advancement of these
                           Communities.
International Marketing Lecture 4
International Marketing Lecture 4
International Marketing Lecture 4
International Marketing Lecture 4
International Marketing Lecture 4
Focus Groups
International Marketing Lecture 4
A simple product checklist



           Is there a need or demand?

Can the product be produced in the target market?

          Can we distribute efficiently?

      Can we price the product attractively?

  Can our partner play the needed critical roles?

     Can we compete with local competition?

       Can we preempt future competition?
International Marketing Lecture 4
Identifying International Market Opportunities
Ideas        Opportunities        Solutions          Realisation            Performance




                                                                           Management
                                                                            Capability

 Spots          Evaluates            Selects            Targets




Creativity      Innovation          Strategic
                                    Thinking                             Differentiation




                                                                            Competitive
               Capabilities Governing Competitive                            Advantage
                             Scope
                                                                    Costs: to customers
                                                                    Knowledge:
                                                                    Industry/market/technical/p
                          Competencies                              rocess
                 Entrepreneurial, Opportunity                       Relationships:
              Identification, Network, Conceptual,                  Customers/suppliers/distri
             Organisational, Strategic, Commitment,                 butors/relative power
                            Resources                               Structure: Ability
The Outcomes
                                                     (potential targets)


                           Key internal               The process of                Key external
                           influences on the          product/market                influences on the
Size and depth of change




                           development                 development                  development




                                                                                                            Time
                           process                                                  process




                                               The base potential for development


                                                    Where the business is
                                                    currently performing

                                                                                        Gibb & Scott 1988
Profile of business in terms of performance:
Performance
Base            • Market trends: current product mix, market mix, competition
                • Production trends: Utilisation, efficiency, quality
                •Financial and Management: net worth, liquidity, gearing, trends




Key internal
influences on   Administrative, marketing, production and Managerial
the             resources and capabilities.
development
process



Key external           Competition, market restrictions
influences on
the development
process


      All influence the type of product and market development
                           that will take place
Environmental Analysis: Threats and Opportunities
  Market: product position and prospects      Competition: Traditional, new firms, new
                                                            industries, profits
  Technology: Changes and developments        The Economy: Growth, inflation, Law




                                                                 Operating
                                                                 Needs
 Personal             Business             Strategies                                   Operating
                                           & Tactics             Products
Objectives           Objectives                                                         Budgets
                                                                 Manpower
                                                                 Finance



                                    Feedback loops

              Business Analysis: Strengths and Weaknesses
Product: 4 Ps or 4 customer wants               Profit/Cash flow: its sources and uses
People: Management and Skills                   Facilities: age, technology and utilisation
                                                                Burns & Dewhurst 1993
Sources of Competitive Advantage
     (The reason for any product development in a company)

          Importance of price to customers, distributors, the extend of
Costs:    demand elasticity




Knowledge: Stage of industry lifecycle, common industry knowledge
              verses your own specialised knowledge



               Links with customers, suppliers, distributors, relative
Relationships: power



                   Appropriate organisational structures, Ability to respond
Structure:         to market, leadership.
Many Factors Change Markets and Give rise to Opportunities


                   Social
                   Social and cultural trends
                   and drivers.
                   Reviving historical trends



                                  Product
                               Opportunity
                                    Gap    Economic
                                           State of the economy
                Technology
                                           Shift in focus on where
                State of the art and
                                           to spend money
                emerging
                                           Level of disposable
                technology                 income
                Re-evaluating
                existing technology




                                                  Cagan, J. and Vogel, C., M., (2002),
Areas of Firm Innovation
Potential                 Product Lifecycle                     IP Value &
Profitability                                                   Novelty
                IP
                     Va
                       lue
                                                              Competitive
    Concept
                                                              Risk Taking
    Risk Taking
    it
   of
 Pr




   Pioneers          Early       Early      Late       Late
                     followers              Majority   Followers          Time
                                 Majority
Technology/Market Positioning

              Hotel Coffee Shop            Coffee Bean
   High
Style




                Kedai Kopi                     Fast Food
    Low




                  Low                              High
                                  Technology
International Marketing Lecture 4
Table 6.1. Drucker’s Sources of Innovation

       Source                                   Explanation                                        Examples


  The unexpected         Success of a revolutionary product or the application of   •Apple computer
 success, failure or     technology from one industry to another, sudden or         •Rapid decline of Proton’s market
external occurrence      unnoticed demographic changes caused by wars,              share
                         insurgencies, migration, etc.

  An incongruity         A change that is already occurring or can be made to       •Sugar free products and sugar
between reality as       occur within an industry. It may be visible to those       replacements due to concern for health
 it actually is and      inside the industry, often overlooked or taken for         •Increasing demand for travel and
what it ought to be      granted.                                                   holidays due to increasing incomes and
                                                                                    leisure time

 Inadequacy of an        An improvement in process that makes consumers             •Caffeine free products
existing technology      more satisfied based on an improvement or change in        •Microwave ovens
or business process      technology.                                                •Mobile phones


Changes in industry      New ways and means of undertaking business based           •Health care industry
or market structure      on identified opportunities or gradual shifting of the     •Education industry – private education
                         nature of the industry.
Perceptual changes       Changes in peoples awareness founded on new                •Leisure and exercise industry aerobics
                         knowledge and/or values or growing affluence leading       & gyms
                         to new fashions and tastes
   Demographic           Gradual shift of demographics in population by age,        •Establishment of more retirement
     changes             income groups or ethnic groups, etc                        homes


 New knowledge           New knowledge or application of existing theoretical       •Video and VCD industry
                         knowledge into an existing industry that can create        •Robotics
                         new products not previously in existence                   •Biotechnology
Types of Innovation
Type                Description                    Examples
Invention   Totally new product                Wright Bros – plane
                                               Edison – light bulb
                                               Bell – telephone
Extension New use or different application Kroc – McDonald’s
            of an already existing product     Bushnell – Atari
                                               Wilson – Holiday Inn
Duplication Creative replication of an        Wal Mart – Dept Stores
            existing concept               Pizza Hut – Pizza restaurant
Synthesis Combination of existing                  Smith - Fedex
            concepts and factors           Merryil Lynch – Home equity
            into new use                            Financing
Dispelling the myths about
          innovation
•Less than 5% of new products launched
        on the market are successful
• Out of 100 new ideas, less than 2 become
              a commercial reality
• Most companies are followers and not
     innovators (even the Body Shop)
 • Very few really novel innovations are

        ever launched commercially
 • Most new products are incremental steps
    in enhancement, rather than something
         completely new (similar to the
              automobile industry)
Sources of Innovation



Drucker (1984) Identified seven sources
             of innovation
Unexpected occurrences
  unexpected success
Unexpected failure
Incongruities
Process needs
Demographic changes
Industry and Market Changes
Perceptual changes
Knowledge based concepts
Types of Innovation
Invention
Totally new product
Extension
New use or different application of an already existing product
Duplication
Creative replication of an existing concept
Synthesis
Combination of existing concepts and factors into new use
Other Examples
    Teflon




      Unexpected occurrences
incongruities
incongruities
incongruities
Process Needs
Industry Changes
Demographics
changes in perceptions
New knowledge
Principals of Innovation
• Scan opportunities through purposeful
  processes
• Be both conceptual and perceptual – get out into
  industry
• To be effective, it has to be simple and focused
  – has to be used by average people
• Pursue ideas that are going to make major
  change
• Market knowledge is important
New Knowledge Innovation is the
         most risky
Better to focus on other sources of innovation: ie,
 applications of existing ideas and technologies
 as new knowledge technology development is
 extremely long term.

      Bright ideas are the riskiest source of
          innovation and rarely succeed.
        Receptability is always the problem
          (look at patents files but never
                commercialised)
Opportunity Feasibility


             Technical – feasibility of product or service


                    Market- Determination of market
                        opportunities and risks


                                                             Determination
New Market          Financial – Analysis of financial         of Feasibility
                            Feasibility and
                               resources


             Organisational – Analysis of organisational
                    Capabilities and personnel
                            requirements



               Competitive – analysis of the competition
Competitive Advantage



          What specific competitive advantages does the product offer?
What are the competitive advantages of companies/products already in the market?
                     How are competitors likely to respond?
                 How will the initial advantage be maintained?



                                     Buyers


                          Who will the customers be?
                       How much will each customer buy?
                       How many customers will there be?
                       How will the customers be located?
                          How will they be serviced?
Marketing of Goods and Services

  How much will be spent on advertising and promotion?
What share of the market will the company be able to capture?
                        Time frame?
           Who will perform the selling functions?
                   How will prices be set?
      How will they compare to the competitors prices?
  How important is location and how will it be determined?
          What distribution channels will be used?
                 What are the sales targets?


                         Production




               Will the company make or buy?
     What are the sources available at reasonable prices?
Staffing



How will competence in each area of the business be developed and maintained?
      Who will need to be hired? How will they be found and maintained?




                                 Financing




   How much will be needed for the development of the product or service?
           How much will be needed for setting up operations?
              How much will be needed for working capital?
         What assumptions are sales (financial) forecasts made?
Specific Activities of a Feasibility Analysis


Technical Feasibility Analysis
   Crucial technical specifications
                Design
              Durability
              Reliability                      Market Feasibility Analysis
            Product safety                                 Market potential
           Standardisation                      Identification of potential customers
     Engineering requirements               Potential customer dominant characteristics
              Machines                                 Potential market share
                Tools                                  Potential sales volume
             Instruments                               Sales price projections
              Work flow                                     Market testing
       Product development                                Analysis of market
              Prototypes                               Market planning issues
           Product testing                       Preferred channels of distribution
             Field testing                         Impact of promotional issues
            Plant location                                Distribution costs
      Desirable characteristics
              Suppliers
             Environment
Specific Activities of a Feasibility Analysis



  Financial Feasibility Study                       Competitive Analysis
       Required financial resources                   Existing competitors size
       Available financial resources
                                                        Financial resources
                                                       Market entrenchment
                                                Potential reaction of competitors to
                                                      Newcomers by means of
                                                     Price cutting, advertising,
   Organisational Capability                     Introduction of new products and
                                                                Other
           Analysis
                                                     Potential new competitors
        Personnel requirements
          Required skill levels
        Managerial requirements
Determination of individual responsibilities
   Potential organisation development
Opportunities are a product of our mind
and these visions can become the
design of our future with skilful and
creative utilisation of scattered existing
and forgotten resources to create great
unimagined synergies. This is the true
power of creativity that God has given
humankind.
A Creative Person

enthusiastic, but risk assessor, who can think
both serially and laterally, good at assessing
opportunities, friendly, has good technical know-
how, able to access what he or she doesn’t
know, broad vision, an eye for detail, strong
motivation to overcome hurdles, can give honest
assessments and is aware of their personal
strengths and weaknesses
“Too much focus on
process, on a static agenda,
 while it may get a lot done
  initially, will tend to drive
core competencies towards
          core rigidity.”
Practice/Process Trade-off
Innovation                      Optimal Innovation Area




                                                          Organisation
              Ideas
                                                          becomes rigid




             Little gets done




 Practice                                                           Process
Industry Today is Looking for the
         “Innovation” Solution




How does a company become
innovative and competitive?
The replacement of existing technologies is happening so fast
 that 40% of the Fortune 500 companies that existed in 1975
                      do not exist today.
 Griffin, A., (1997), The Drivers of NPD Success: The PDMA Report, Chicago,
                Product Development & Management Association


           Now, on average new products launched
    in the last five years make up 33% of most successful
                        companies profits.
Foster, R., N., (2000), ‘Managing Technological Innovation for the Next 25 Years’,
            Research-Technology Management, 43, 1., Jan/Feb., P. 20.

      The cost of new technology is a powerful driver for
       firms to expand product distribution over a large
    number of international markets to recover investment
    costs quicker. New technologies are thus a push factor
     for the globalisation of companies due to the need to
               obtain greater economies of scale.
To be effective requires a shared sense of purpose
The elements of innovation

Tempera                   Strategic                          Skills
-ment                     Thinking


                                           Creativity
              Focus



                          Innovation



               Culture                    Ego

                                                                   Learning
    Ability              Interpersonal
                          Interactions
                                         Hunter, Baharuddin (OUM) & Rozhan (UIA): Alpha
                                         Model of Innovation
Creativity

                                                   Ideas                        Education
     Group




                                                 Creativity                    Culture


                                  Solutions                    Opportunities
       Lateral
       thinking


      Serial                                                                     Strategic
                                                       Personality
      Thinking                                                                   Thinking
Hunter, Baharuddin (OUM) & Rozhan (UIA): Alpha
Model of Innovation
Ego
      Inner ego: self assurance,
      dedication, motivation
      Outer Ego; Responsibility,
      Accountability, courage
       Environment, Family,
       Peers, Culture




       Hunter, Baharuddin (OUM) & Rozhan (UIA): Alpha
       Model of Innovation
Culture
Theories in action                         Stories, myths, heroes, artifacts, informal
                                           behaviours
verses Espoused

Norms and            Producti    Values          Organisational
group behaviour      vity &
                                                 learning (single or
                     effective
                                                 double looped
                     ness


    Leadership
                                 Beliefs




                            Assumptions
Effect of Factors on Innovation
Variable             Absent                Extreme

Focus                Random                Tunnel vision

Strategic Thinking   Switched off          Unfocused

Creativity           Unimaginative         Over-imaginative, lose
                                           sight of big picture
Ego                  Purposelessness       Self-deluded

Interpersonal        Individualistic and   Hesitant to take
Relationships        independent           responsibility
Culture              Self centered and     Fanatical
                     moraless
Optimum Innovation
Innovation                    Qualities (at mean spectrum)
Component
Focus                         •Have control of the situation
                              •Put the project first
Strategic Thinking            •Able to spot and work towards exploiting the opportunity
                              •Able to secure resources (beg, borrow or steal)
Creativity                    •Able to create both laterally and serially
                              •Spot and exploit opportunities
Ego                           •Inner need to make a difference
                              •Able to take risks
Interpersonal relationships   •Able to network effectively


Culture                       •Spot and exploit causes
                              •Create social capital
Optimum Innovation
Innovation                    Qualities (at mean spectrum)
Component
Focus                         •Have control of the situation
                              •Put the project first
Strategic Thinking            •Able to spot and work towards exploiting the opportunity
                              •Able to secure resources (beg, borrow or steal)
Creativity                    •Able to create both laterally and serially
                              •Spot and exploit opportunities
Ego                           •Inner need to make a difference
                              •Able to take risks
Interpersonal relationships   •Able to network effectively


Culture                       •Spot and exploit causes
                              •Create social capital
The Creative Thinking Process

                   Incubation




 Knowledge          Creative
                                  Ideas
Accumulation        Process




                  Evaluation &
                 Implementation
Two Approaches to Creative
               Problem Solving
Adaptor                                                  Innovator
Employs a disciplined approach,     Approaches tasks from unusual
Precise, methodical approach        angles
Is concerned with problem solving, Discovers problems and avenues
Rather than finding problems        of solutions
Tends to be means orientated        Questions basic assumptions
Is capable of extended details work related to current practices
Is sensitive to group cohesion and  Has little regard for means; is
Cooperation                         more interested in ends
                                    Has little tolerance for routine
                                    work
                                    Has no need for consensus;
                                    often insensitive to others
Adapted from: Kirton, M. (October 1976) Adaptors and Innovators: A description and Measure,
   Journal of Applied Psychology
International Marketing Lecture 4
Processes Associated with the Two
       Brain Hemispheres
   Left            Right

  Verbal          Non verbal
 Analytical      Synthesizing
 Abstract      Seeing analogies
 Rational        Non-rational
 Logical          Spatial
 Linear           Intuitive
                Imaginative
Ways to Develop Left and Right
          Hemisphere Skills
   Left Hemisphere Skills               Right Hemisphere Skills
1. Step by step planning              1. Using metaphors &
   of your work and life activities      analogies to describe things

2. Reading philosophy                 2. Taking off your watch
3. Establishing timetables               when you are not working
   for all your activities            3. Listening to music
4. Using and working with             4. Suspending your
   a computer program                    initial judgment of ideas, people
                                         TV shows etc
                                      5. Recording your hunches,
                                         feelings, and intuitions and
                                         calculating their accuracy
                                      6. Detailed fantasizing and
                                         visualising things and
                                         situations in the future
                                      7. Drawing faces, caricatures and

                                        landscapes
Field Dependence-
Independence Perception


  Embedded Figures Test (EFT)
   Witkin 1954, 1973, 1977
Field Dependent (unable to see figures)
 ● Favour Social science & education
● strong social skills, gravitate
   towards others, more contextual
   in approaches
● Good at seeing connections
   between categories of information,
   look at environment holistically
● Process information in chunks
● Tend to rely on social information
      Holistic Approach to Issues
Field Independent (able to see figures)
● Favour Maths, engineering, science
● Function with more autonomy &
   display a more detached approach,
● Focus on individual issues in the
   scanned environment
● Can isolate issues in a complex setting
  (block out what is not important)
   Specific Issue Analysis

Contenu connexe

Tendances

Chap20 International Advertising And Promotion
Chap20 International Advertising And PromotionChap20 International Advertising And Promotion
Chap20 International Advertising And PromotionPhoenix media & event
 
International Marketing Management - Product & Pricing Decisions
International Marketing Management - Product & Pricing DecisionsInternational Marketing Management - Product & Pricing Decisions
International Marketing Management - Product & Pricing DecisionsSOMASUNDARAM T
 
Competing in foreign markets
Competing in foreign marketsCompeting in foreign markets
Competing in foreign marketsMD SALMAN ANJUM
 
Standardization and customization
Standardization and customizationStandardization and customization
Standardization and customizationYASHADA, Pune
 
Chapter 11 (pricing concept)
Chapter 11 (pricing concept)Chapter 11 (pricing concept)
Chapter 11 (pricing concept)Amaie Idarus
 
Lecture 12-international imc
Lecture 12-international imcLecture 12-international imc
Lecture 12-international imcVMCC
 
Chapter 12 addressing competition and driving growth ppt
Chapter 12  addressing competition and driving growth pptChapter 12  addressing competition and driving growth ppt
Chapter 12 addressing competition and driving growth pptAndreasPrasetia1
 
Chapter 19 Pricing Concepts 2014
Chapter 19 Pricing Concepts 2014Chapter 19 Pricing Concepts 2014
Chapter 19 Pricing Concepts 2014Earlene McNair
 
Chapter 15: Price, the Only Revenue Generator
Chapter 15: Price, the Only Revenue GeneratorChapter 15: Price, the Only Revenue Generator
Chapter 15: Price, the Only Revenue Generatortjamisonedu
 
International Marketing report
International Marketing reportInternational Marketing report
International Marketing reportAli Aljoubory
 
Principles of marketing chapter 11 t heory
Principles of marketing chapter 11 t heoryPrinciples of marketing chapter 11 t heory
Principles of marketing chapter 11 t heoryPartha Protim Roy Niloy
 
Chapter 5: Market Segmenting, Targeting, and Positioning
Chapter 5: Market Segmenting, Targeting, and PositioningChapter 5: Market Segmenting, Targeting, and Positioning
Chapter 5: Market Segmenting, Targeting, and Positioningtjamisonedu
 

Tendances (20)

Intro to mktg_itm_sept-2012_session-2
Intro to mktg_itm_sept-2012_session-2Intro to mktg_itm_sept-2012_session-2
Intro to mktg_itm_sept-2012_session-2
 
Chap20 International Advertising And Promotion
Chap20 International Advertising And PromotionChap20 International Advertising And Promotion
Chap20 International Advertising And Promotion
 
Marketing Strategy - Session II
Marketing Strategy - Session IIMarketing Strategy - Session II
Marketing Strategy - Session II
 
International Marketing Management - Product & Pricing Decisions
International Marketing Management - Product & Pricing DecisionsInternational Marketing Management - Product & Pricing Decisions
International Marketing Management - Product & Pricing Decisions
 
Chapter 6
Chapter 6Chapter 6
Chapter 6
 
Competing in foreign markets
Competing in foreign marketsCompeting in foreign markets
Competing in foreign markets
 
Standardization and customization
Standardization and customizationStandardization and customization
Standardization and customization
 
Chapter 11 (pricing concept)
Chapter 11 (pricing concept)Chapter 11 (pricing concept)
Chapter 11 (pricing concept)
 
Mm unit 2 point 1
Mm unit 2 point 1Mm unit 2 point 1
Mm unit 2 point 1
 
Lesson 6 cmarketing
Lesson 6 cmarketingLesson 6 cmarketing
Lesson 6 cmarketing
 
Lecture 12-international imc
Lecture 12-international imcLecture 12-international imc
Lecture 12-international imc
 
Porter generic strategies pgp1
Porter generic strategies pgp1Porter generic strategies pgp1
Porter generic strategies pgp1
 
Chapter 12 addressing competition and driving growth ppt
Chapter 12  addressing competition and driving growth pptChapter 12  addressing competition and driving growth ppt
Chapter 12 addressing competition and driving growth ppt
 
Chapter 19 Pricing Concepts 2014
Chapter 19 Pricing Concepts 2014Chapter 19 Pricing Concepts 2014
Chapter 19 Pricing Concepts 2014
 
Chapter 15: Price, the Only Revenue Generator
Chapter 15: Price, the Only Revenue GeneratorChapter 15: Price, the Only Revenue Generator
Chapter 15: Price, the Only Revenue Generator
 
International Marketing report
International Marketing reportInternational Marketing report
International Marketing report
 
Cmarketing 13
Cmarketing 13Cmarketing 13
Cmarketing 13
 
A new entrant rfid
A new entrant rfidA new entrant rfid
A new entrant rfid
 
Principles of marketing chapter 11 t heory
Principles of marketing chapter 11 t heoryPrinciples of marketing chapter 11 t heory
Principles of marketing chapter 11 t heory
 
Chapter 5: Market Segmenting, Targeting, and Positioning
Chapter 5: Market Segmenting, Targeting, and PositioningChapter 5: Market Segmenting, Targeting, and Positioning
Chapter 5: Market Segmenting, Targeting, and Positioning
 

En vedette

International Marketing Chapter 01
International Marketing Chapter 01International Marketing Chapter 01
International Marketing Chapter 01rogergomes14
 
Introduction to Digital Marketing | #IntroToDigital +22 Free Tools inside
Introduction to Digital Marketing | #IntroToDigital +22 Free Tools insideIntroduction to Digital Marketing | #IntroToDigital +22 Free Tools inside
Introduction to Digital Marketing | #IntroToDigital +22 Free Tools insideNicolas J. Chevalier
 
NATURE AND SCOPE OF MARKETING
NATURE AND SCOPE OF MARKETINGNATURE AND SCOPE OF MARKETING
NATURE AND SCOPE OF MARKETINGSaumya Kumar
 
Digital Marketing Overview
Digital Marketing OverviewDigital Marketing Overview
Digital Marketing OverviewAnton Koekemoer
 

En vedette (8)

Web Presence
Web PresenceWeb Presence
Web Presence
 
Imm nature & scope
Imm   nature & scopeImm   nature & scope
Imm nature & scope
 
International Marketing Chapter 01
International Marketing Chapter 01International Marketing Chapter 01
International Marketing Chapter 01
 
INTERNATIONAL MARKETING
INTERNATIONAL MARKETINGINTERNATIONAL MARKETING
INTERNATIONAL MARKETING
 
Global Marketing
Global MarketingGlobal Marketing
Global Marketing
 
Introduction to Digital Marketing | #IntroToDigital +22 Free Tools inside
Introduction to Digital Marketing | #IntroToDigital +22 Free Tools insideIntroduction to Digital Marketing | #IntroToDigital +22 Free Tools inside
Introduction to Digital Marketing | #IntroToDigital +22 Free Tools inside
 
NATURE AND SCOPE OF MARKETING
NATURE AND SCOPE OF MARKETINGNATURE AND SCOPE OF MARKETING
NATURE AND SCOPE OF MARKETING
 
Digital Marketing Overview
Digital Marketing OverviewDigital Marketing Overview
Digital Marketing Overview
 

Similaire à International Marketing Lecture 4

Oversear market research
Oversear market researchOversear market research
Oversear market researchStudsPlanet.com
 
3 segmentation (s)
3 segmentation (s)3 segmentation (s)
3 segmentation (s)pinecone-fan
 
International Marketing Research:Complete Aspect.
International Marketing Research:Complete Aspect.International Marketing Research:Complete Aspect.
International Marketing Research:Complete Aspect.Ashutosh Mishra
 
Enu marketing 250812
Enu marketing 250812Enu marketing 250812
Enu marketing 250812Stephen Ong
 
B2B Marketing - Chapter 3: Marketing Information System
B2B Marketing - Chapter 3: Marketing Information SystemB2B Marketing - Chapter 3: Marketing Information System
B2B Marketing - Chapter 3: Marketing Information SystemCalvin Nguyen
 
Segmentation The Foundation Of Marketing Strategy
Segmentation The Foundation Of Marketing StrategySegmentation The Foundation Of Marketing Strategy
Segmentation The Foundation Of Marketing StrategyEndeavor Management
 
Conducting start-up Market Researh
Conducting start-up Market ResearhConducting start-up Market Researh
Conducting start-up Market Researhgemdeane1
 
Chap 11 understanding marketing processes and consumer behavior
Chap 11 understanding marketing processes and consumer behaviorChap 11 understanding marketing processes and consumer behavior
Chap 11 understanding marketing processes and consumer behaviorMemoona Qadeer
 
Chap11understandingmarketingprocessesandconsumerbehavior 120510232142-phpapp02
Chap11understandingmarketingprocessesandconsumerbehavior 120510232142-phpapp02Chap11understandingmarketingprocessesandconsumerbehavior 120510232142-phpapp02
Chap11understandingmarketingprocessesandconsumerbehavior 120510232142-phpapp02Pimsat.University.Karachi
 
global marketing research systems
global marketing research systemsglobal marketing research systems
global marketing research systemsRahul Jain
 
Carlton Al Moaibed Hotel Market Research
Carlton Al Moaibed Hotel Market ResearchCarlton Al Moaibed Hotel Market Research
Carlton Al Moaibed Hotel Market ResearchManal Assaad
 
Plan market research
Plan market researchPlan market research
Plan market researchSkript
 
Am 6 segmenting and targeting markets
Am 6 segmenting and targeting marketsAm 6 segmenting and targeting markets
Am 6 segmenting and targeting marketsShailja Jajodia
 
[3] Market Place Survey BEN2010 Week 3
[3] Market Place Survey BEN2010 Week 3[3] Market Place Survey BEN2010 Week 3
[3] Market Place Survey BEN2010 Week 3Multimedia University
 

Similaire à International Marketing Lecture 4 (20)

Oversear market research
Oversear market researchOversear market research
Oversear market research
 
3 segmentation (s)
3 segmentation (s)3 segmentation (s)
3 segmentation (s)
 
International Marketing Research:Complete Aspect.
International Marketing Research:Complete Aspect.International Marketing Research:Complete Aspect.
International Marketing Research:Complete Aspect.
 
Enu marketing 250812
Enu marketing 250812Enu marketing 250812
Enu marketing 250812
 
Datamining Etnography
Datamining  EtnographyDatamining  Etnography
Datamining Etnography
 
B2B Marketing - Chapter 3: Marketing Information System
B2B Marketing - Chapter 3: Marketing Information SystemB2B Marketing - Chapter 3: Marketing Information System
B2B Marketing - Chapter 3: Marketing Information System
 
Segmentation The Foundation Of Marketing Strategy
Segmentation The Foundation Of Marketing StrategySegmentation The Foundation Of Marketing Strategy
Segmentation The Foundation Of Marketing Strategy
 
Conducting start-up Market Researh
Conducting start-up Market ResearhConducting start-up Market Researh
Conducting start-up Market Researh
 
Product mix
Product mixProduct mix
Product mix
 
Chap 11 understanding marketing processes and consumer behavior
Chap 11 understanding marketing processes and consumer behaviorChap 11 understanding marketing processes and consumer behavior
Chap 11 understanding marketing processes and consumer behavior
 
Chap11understandingmarketingprocessesandconsumerbehavior 120510232142-phpapp02
Chap11understandingmarketingprocessesandconsumerbehavior 120510232142-phpapp02Chap11understandingmarketingprocessesandconsumerbehavior 120510232142-phpapp02
Chap11understandingmarketingprocessesandconsumerbehavior 120510232142-phpapp02
 
global marketing research systems
global marketing research systemsglobal marketing research systems
global marketing research systems
 
Carlton Al Moaibed Hotel Market Research
Carlton Al Moaibed Hotel Market ResearchCarlton Al Moaibed Hotel Market Research
Carlton Al Moaibed Hotel Market Research
 
Plan market research
Plan market researchPlan market research
Plan market research
 
Presupuestos publicitariosune2
Presupuestos publicitariosune2Presupuestos publicitariosune2
Presupuestos publicitariosune2
 
Am 6 segmenting and targeting markets
Am 6 segmenting and targeting marketsAm 6 segmenting and targeting markets
Am 6 segmenting and targeting markets
 
IMR
IMRIMR
IMR
 
Market segmentation
Market segmentationMarket segmentation
Market segmentation
 
[3] Market Place Survey BEN2010 Week 3
[3] Market Place Survey BEN2010 Week 3[3] Market Place Survey BEN2010 Week 3
[3] Market Place Survey BEN2010 Week 3
 
Marketingfor managers
Marketingfor managersMarketingfor managers
Marketingfor managers
 

Plus de Murray Hunter

Malaysia Deep Corruption Deep State
Malaysia Deep Corruption Deep StateMalaysia Deep Corruption Deep State
Malaysia Deep Corruption Deep StateMurray Hunter
 
Investigative Capacity Building Workshop 3.pptx
Investigative Capacity Building Workshop 3.pptxInvestigative Capacity Building Workshop 3.pptx
Investigative Capacity Building Workshop 3.pptxMurray Hunter
 
Revitalizing manufacturing enterprise in the post-industrial void: A new para...
Revitalizing manufacturing enterprise in the post-industrial void: A new para...Revitalizing manufacturing enterprise in the post-industrial void: A new para...
Revitalizing manufacturing enterprise in the post-industrial void: A new para...Murray Hunter
 
The rise of local currencies
The rise of local currenciesThe rise of local currencies
The rise of local currenciesMurray Hunter
 
The New Rules of Running for the Over 50s
The New Rules of Running for the Over 50sThe New Rules of Running for the Over 50s
The New Rules of Running for the Over 50sMurray Hunter
 
The Running Revoltion in Asia
The Running Revoltion in AsiaThe Running Revoltion in Asia
The Running Revoltion in AsiaMurray Hunter
 
MBA in ASEAN Busniess Concept
MBA in ASEAN Busniess ConceptMBA in ASEAN Busniess Concept
MBA in ASEAN Busniess ConceptMurray Hunter
 
Natural Building as a Community Game
Natural Building as a Community GameNatural Building as a Community Game
Natural Building as a Community GameMurray Hunter
 
Idea into startup appraisal form
Idea into startup appraisal formIdea into startup appraisal form
Idea into startup appraisal formMurray Hunter
 
Dependent origination as a natural governing law
Dependent origination as a natural governing lawDependent origination as a natural governing law
Dependent origination as a natural governing lawMurray Hunter
 
From idea to start up
From idea to start upFrom idea to start up
From idea to start upMurray Hunter
 
Entrepreneurship as a means to create islamic economy
Entrepreneurship as a means to create islamic economyEntrepreneurship as a means to create islamic economy
Entrepreneurship as a means to create islamic economyMurray Hunter
 
Entrepreneurship as a means to create islamic economy
Entrepreneurship as a means to create islamic economyEntrepreneurship as a means to create islamic economy
Entrepreneurship as a means to create islamic economyMurray Hunter
 
Competitive collaboration in halal industry
Competitive collaboration in halal industryCompetitive collaboration in halal industry
Competitive collaboration in halal industryMurray Hunter
 
The what, how, why, and where of writing: A personal Reflection
The what, how, why, and where of writing: A personal ReflectionThe what, how, why, and where of writing: A personal Reflection
The what, how, why, and where of writing: A personal ReflectionMurray Hunter
 
Australia in “Asian Century” or Is It Lost in
Australia in “Asian Century” or Is It Lost inAustralia in “Asian Century” or Is It Lost in
Australia in “Asian Century” or Is It Lost inMurray Hunter
 
An Islam economy can be
An Islam economy can beAn Islam economy can be
An Islam economy can beMurray Hunter
 
ASEAN Nations Need Indigenous Innovation
ASEAN Nations Need Indigenous InnovationASEAN Nations Need Indigenous Innovation
ASEAN Nations Need Indigenous InnovationMurray Hunter
 
Missed Opportunities: Inward Focus on Domestic Issues and Parochialism May Le...
Missed Opportunities: Inward Focus on Domestic Issues and Parochialism May Le...Missed Opportunities: Inward Focus on Domestic Issues and Parochialism May Le...
Missed Opportunities: Inward Focus on Domestic Issues and Parochialism May Le...Murray Hunter
 
From Europe to the US Japan and onto China: The evolution of the automobile i...
From Europe to the US Japan and onto China: The evolution of the automobile i...From Europe to the US Japan and onto China: The evolution of the automobile i...
From Europe to the US Japan and onto China: The evolution of the automobile i...Murray Hunter
 

Plus de Murray Hunter (20)

Malaysia Deep Corruption Deep State
Malaysia Deep Corruption Deep StateMalaysia Deep Corruption Deep State
Malaysia Deep Corruption Deep State
 
Investigative Capacity Building Workshop 3.pptx
Investigative Capacity Building Workshop 3.pptxInvestigative Capacity Building Workshop 3.pptx
Investigative Capacity Building Workshop 3.pptx
 
Revitalizing manufacturing enterprise in the post-industrial void: A new para...
Revitalizing manufacturing enterprise in the post-industrial void: A new para...Revitalizing manufacturing enterprise in the post-industrial void: A new para...
Revitalizing manufacturing enterprise in the post-industrial void: A new para...
 
The rise of local currencies
The rise of local currenciesThe rise of local currencies
The rise of local currencies
 
The New Rules of Running for the Over 50s
The New Rules of Running for the Over 50sThe New Rules of Running for the Over 50s
The New Rules of Running for the Over 50s
 
The Running Revoltion in Asia
The Running Revoltion in AsiaThe Running Revoltion in Asia
The Running Revoltion in Asia
 
MBA in ASEAN Busniess Concept
MBA in ASEAN Busniess ConceptMBA in ASEAN Busniess Concept
MBA in ASEAN Busniess Concept
 
Natural Building as a Community Game
Natural Building as a Community GameNatural Building as a Community Game
Natural Building as a Community Game
 
Idea into startup appraisal form
Idea into startup appraisal formIdea into startup appraisal form
Idea into startup appraisal form
 
Dependent origination as a natural governing law
Dependent origination as a natural governing lawDependent origination as a natural governing law
Dependent origination as a natural governing law
 
From idea to start up
From idea to start upFrom idea to start up
From idea to start up
 
Entrepreneurship as a means to create islamic economy
Entrepreneurship as a means to create islamic economyEntrepreneurship as a means to create islamic economy
Entrepreneurship as a means to create islamic economy
 
Entrepreneurship as a means to create islamic economy
Entrepreneurship as a means to create islamic economyEntrepreneurship as a means to create islamic economy
Entrepreneurship as a means to create islamic economy
 
Competitive collaboration in halal industry
Competitive collaboration in halal industryCompetitive collaboration in halal industry
Competitive collaboration in halal industry
 
The what, how, why, and where of writing: A personal Reflection
The what, how, why, and where of writing: A personal ReflectionThe what, how, why, and where of writing: A personal Reflection
The what, how, why, and where of writing: A personal Reflection
 
Australia in “Asian Century” or Is It Lost in
Australia in “Asian Century” or Is It Lost inAustralia in “Asian Century” or Is It Lost in
Australia in “Asian Century” or Is It Lost in
 
An Islam economy can be
An Islam economy can beAn Islam economy can be
An Islam economy can be
 
ASEAN Nations Need Indigenous Innovation
ASEAN Nations Need Indigenous InnovationASEAN Nations Need Indigenous Innovation
ASEAN Nations Need Indigenous Innovation
 
Missed Opportunities: Inward Focus on Domestic Issues and Parochialism May Le...
Missed Opportunities: Inward Focus on Domestic Issues and Parochialism May Le...Missed Opportunities: Inward Focus on Domestic Issues and Parochialism May Le...
Missed Opportunities: Inward Focus on Domestic Issues and Parochialism May Le...
 
From Europe to the US Japan and onto China: The evolution of the automobile i...
From Europe to the US Japan and onto China: The evolution of the automobile i...From Europe to the US Japan and onto China: The evolution of the automobile i...
From Europe to the US Japan and onto China: The evolution of the automobile i...
 

Dernier

ICS2208 Lecture4 Intelligent Interface Agents.pdf
ICS2208 Lecture4 Intelligent Interface Agents.pdfICS2208 Lecture4 Intelligent Interface Agents.pdf
ICS2208 Lecture4 Intelligent Interface Agents.pdfVanessa Camilleri
 
POST ENCEPHALITIS case study Jitendra bhargav
POST ENCEPHALITIS case study  Jitendra bhargavPOST ENCEPHALITIS case study  Jitendra bhargav
POST ENCEPHALITIS case study Jitendra bhargavJitendra Bhargav
 
The First National K12 TUG March 6 2024.pdf
The First National K12 TUG March 6 2024.pdfThe First National K12 TUG March 6 2024.pdf
The First National K12 TUG March 6 2024.pdfdogden2
 
Awards Presentation 2024 - March 12 2024
Awards Presentation 2024 - March 12 2024Awards Presentation 2024 - March 12 2024
Awards Presentation 2024 - March 12 2024bsellato
 
Metabolism , Metabolic Fate& disorders of cholesterol.pptx
Metabolism , Metabolic Fate& disorders of cholesterol.pptxMetabolism , Metabolic Fate& disorders of cholesterol.pptx
Metabolism , Metabolic Fate& disorders of cholesterol.pptxDr. Santhosh Kumar. N
 
Pharmacology chapter No 7 full notes.pdf
Pharmacology chapter No 7 full notes.pdfPharmacology chapter No 7 full notes.pdf
Pharmacology chapter No 7 full notes.pdfSumit Tiwari
 
Alamkara theory by Bhamaha Indian Poetics (1).pptx
Alamkara theory by Bhamaha Indian Poetics (1).pptxAlamkara theory by Bhamaha Indian Poetics (1).pptx
Alamkara theory by Bhamaha Indian Poetics (1).pptxDhatriParmar
 
EDD8524 The Future of Educational Leader
EDD8524 The Future of Educational LeaderEDD8524 The Future of Educational Leader
EDD8524 The Future of Educational LeaderDr. Bruce A. Johnson
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...Nguyen Thanh Tu Collection
 
PHARMACOGNOSY CHAPTER NO 5 CARMINATIVES AND G.pdf
PHARMACOGNOSY CHAPTER NO 5 CARMINATIVES AND G.pdfPHARMACOGNOSY CHAPTER NO 5 CARMINATIVES AND G.pdf
PHARMACOGNOSY CHAPTER NO 5 CARMINATIVES AND G.pdfSumit Tiwari
 
Auchitya Theory by Kshemendra Indian Poetics
Auchitya Theory by Kshemendra Indian PoeticsAuchitya Theory by Kshemendra Indian Poetics
Auchitya Theory by Kshemendra Indian PoeticsDhatriParmar
 
Research Methodology and Tips on Better Research
Research Methodology and Tips on Better ResearchResearch Methodology and Tips on Better Research
Research Methodology and Tips on Better ResearchRushdi Shams
 
Plant Tissue culture., Plasticity, Totipotency, pptx
Plant Tissue culture., Plasticity, Totipotency, pptxPlant Tissue culture., Plasticity, Totipotency, pptx
Plant Tissue culture., Plasticity, Totipotency, pptxHimansu10
 
2024.03.16 How to write better quality materials for your learners ELTABB San...
2024.03.16 How to write better quality materials for your learners ELTABB San...2024.03.16 How to write better quality materials for your learners ELTABB San...
2024.03.16 How to write better quality materials for your learners ELTABB San...Sandy Millin
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...Nguyen Thanh Tu Collection
 
ASTRINGENTS.pdf Pharmacognosy chapter 5 diploma in Pharmacy
ASTRINGENTS.pdf Pharmacognosy chapter 5 diploma in PharmacyASTRINGENTS.pdf Pharmacognosy chapter 5 diploma in Pharmacy
ASTRINGENTS.pdf Pharmacognosy chapter 5 diploma in PharmacySumit Tiwari
 
BBA 205 BUSINESS ENVIRONMENT UNIT I.pptx
BBA 205 BUSINESS ENVIRONMENT UNIT I.pptxBBA 205 BUSINESS ENVIRONMENT UNIT I.pptx
BBA 205 BUSINESS ENVIRONMENT UNIT I.pptxProf. Kanchan Kumari
 
3.14.24 Gender Discrimination and Gender Inequity.pptx
3.14.24 Gender Discrimination and Gender Inequity.pptx3.14.24 Gender Discrimination and Gender Inequity.pptx
3.14.24 Gender Discrimination and Gender Inequity.pptxmary850239
 
UNIT I Design Thinking and Explore.pptx
UNIT I  Design Thinking and Explore.pptxUNIT I  Design Thinking and Explore.pptx
UNIT I Design Thinking and Explore.pptxGOWSIKRAJA PALANISAMY
 

Dernier (20)

ICS2208 Lecture4 Intelligent Interface Agents.pdf
ICS2208 Lecture4 Intelligent Interface Agents.pdfICS2208 Lecture4 Intelligent Interface Agents.pdf
ICS2208 Lecture4 Intelligent Interface Agents.pdf
 
POST ENCEPHALITIS case study Jitendra bhargav
POST ENCEPHALITIS case study  Jitendra bhargavPOST ENCEPHALITIS case study  Jitendra bhargav
POST ENCEPHALITIS case study Jitendra bhargav
 
The First National K12 TUG March 6 2024.pdf
The First National K12 TUG March 6 2024.pdfThe First National K12 TUG March 6 2024.pdf
The First National K12 TUG March 6 2024.pdf
 
Awards Presentation 2024 - March 12 2024
Awards Presentation 2024 - March 12 2024Awards Presentation 2024 - March 12 2024
Awards Presentation 2024 - March 12 2024
 
Metabolism , Metabolic Fate& disorders of cholesterol.pptx
Metabolism , Metabolic Fate& disorders of cholesterol.pptxMetabolism , Metabolic Fate& disorders of cholesterol.pptx
Metabolism , Metabolic Fate& disorders of cholesterol.pptx
 
t-test Parametric test Biostatics and Research Methodology
t-test Parametric test Biostatics and Research Methodologyt-test Parametric test Biostatics and Research Methodology
t-test Parametric test Biostatics and Research Methodology
 
Pharmacology chapter No 7 full notes.pdf
Pharmacology chapter No 7 full notes.pdfPharmacology chapter No 7 full notes.pdf
Pharmacology chapter No 7 full notes.pdf
 
Alamkara theory by Bhamaha Indian Poetics (1).pptx
Alamkara theory by Bhamaha Indian Poetics (1).pptxAlamkara theory by Bhamaha Indian Poetics (1).pptx
Alamkara theory by Bhamaha Indian Poetics (1).pptx
 
EDD8524 The Future of Educational Leader
EDD8524 The Future of Educational LeaderEDD8524 The Future of Educational Leader
EDD8524 The Future of Educational Leader
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
 
PHARMACOGNOSY CHAPTER NO 5 CARMINATIVES AND G.pdf
PHARMACOGNOSY CHAPTER NO 5 CARMINATIVES AND G.pdfPHARMACOGNOSY CHAPTER NO 5 CARMINATIVES AND G.pdf
PHARMACOGNOSY CHAPTER NO 5 CARMINATIVES AND G.pdf
 
Auchitya Theory by Kshemendra Indian Poetics
Auchitya Theory by Kshemendra Indian PoeticsAuchitya Theory by Kshemendra Indian Poetics
Auchitya Theory by Kshemendra Indian Poetics
 
Research Methodology and Tips on Better Research
Research Methodology and Tips on Better ResearchResearch Methodology and Tips on Better Research
Research Methodology and Tips on Better Research
 
Plant Tissue culture., Plasticity, Totipotency, pptx
Plant Tissue culture., Plasticity, Totipotency, pptxPlant Tissue culture., Plasticity, Totipotency, pptx
Plant Tissue culture., Plasticity, Totipotency, pptx
 
2024.03.16 How to write better quality materials for your learners ELTABB San...
2024.03.16 How to write better quality materials for your learners ELTABB San...2024.03.16 How to write better quality materials for your learners ELTABB San...
2024.03.16 How to write better quality materials for your learners ELTABB San...
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
 
ASTRINGENTS.pdf Pharmacognosy chapter 5 diploma in Pharmacy
ASTRINGENTS.pdf Pharmacognosy chapter 5 diploma in PharmacyASTRINGENTS.pdf Pharmacognosy chapter 5 diploma in Pharmacy
ASTRINGENTS.pdf Pharmacognosy chapter 5 diploma in Pharmacy
 
BBA 205 BUSINESS ENVIRONMENT UNIT I.pptx
BBA 205 BUSINESS ENVIRONMENT UNIT I.pptxBBA 205 BUSINESS ENVIRONMENT UNIT I.pptx
BBA 205 BUSINESS ENVIRONMENT UNIT I.pptx
 
3.14.24 Gender Discrimination and Gender Inequity.pptx
3.14.24 Gender Discrimination and Gender Inequity.pptx3.14.24 Gender Discrimination and Gender Inequity.pptx
3.14.24 Gender Discrimination and Gender Inequity.pptx
 
UNIT I Design Thinking and Explore.pptx
UNIT I  Design Thinking and Explore.pptxUNIT I  Design Thinking and Explore.pptx
UNIT I Design Thinking and Explore.pptx
 

International Marketing Lecture 4

  • 1. Identifying International Market Opportunities and Undertaking Market Research International Marketing 463-441 Lecture 4
  • 2. Undertaking Market Research Identifying International Market Opportunities (Various Approaches)
  • 4. Developing Market Opportunities and Strategies Marketing Managers Analysis Planning Implementation Organisation Control Developing Needed Information Assessing Distribution Internal Information Information Information Databases Analysis Needs Market Marketing Intelligence Research Marketing Environment Target Markets Marketing Channels Competitors Publics Macro environment forces
  • 5. Market Targeting Market Positioning Market Segmentation Develop Measure of Develop positioning Identify bases for segment attractiveness for market segments segmenting the market Select target segment Develop a marketing mix Develop segment Profiles for each segment Major Segment Variables for Consumer Markets Existing Product Sales, MarketVariables Geographic share, Growth and Decline, RelativeRegion and/or countryetc. World market sizes, City and/or region Density Climate Demographic Age, gender, family size, family life cycle, income, occupations, education, religion, race, generation, nationality Psychographic Social class, lifestyle, personality Behavioural Types of occasions and festivals, existing market cultures, user status, loyalty status, concept readiness stage, attitude towards products
  • 6. Defining the problem and research objectives Developing the research plan for collecting information Implementing the research plan – collecting and analysing the data Interpreting and reporting the findings
  • 8. Primary Data Collection Research Observation, Survey, Experiment Approach Contact Methods Mail, Telephone, Personal, Online Sampling Plan Sampling unit, Sample size, Sampling Procedure Research Instruments Questionnaire, Mechanical Instruments
  • 9. Strengths and Weaknesses of Each Method Mail Telephone Personal Online Flexibility Poor Good Excellent Good Quantity of data that Good Fair Excellent Good can be collected Control of interviewer Excellent Fair Poor Fair effects Control of sample Fair Excellent Fair Poor Speed of data Poor Excellent Good Excellent collection Response Rate Fair Good Good Good Cost Good Fair Poor Excellent
  • 10. Types of Samples Probability Sample Simple Random Every member of the population has a known and equal chance Sample of selection Stratified Random The population is divided inot mutually exclusive groups (such Sample as age groups) and random samples are drawn from each group Cluster (area) The population is divided into mutually exclusive groups (known Sample as blocks) and the researcher draws a sample of the groups to interview Nonprobability Sample Convenience The researcher selects the easiest population members from Sample which to obtain information, using their own judgment as to which members are good prospects to collect information. Judgment Sample The researcher finds and interviews a prescribed number of people in each of several catagories.
  • 11. Steps in the Market Research Process 1. Define the research problem and establish research objectives 2. Determine the sources of information to fulfill the research objectives 3. Consider the costs and benefits of the research effort 4. Gather the relevant data from primary or secondary sources, or both 5. Analyse, interpret and summarize the results 6. Effectively communicate the results to the decision makers Cateora and Graham pp. 216-221
  • 12. Measuring Market Segments Must attempt to determine how big is the actual market
  • 13. Approaches to Estimating Market Sizes (making assumptions) Technique Method Impact Multifactor Analysis Analysing the target market A real assessment of the potential by comparing it to target market, subject to the US economy cultural differences Coefficient of Income Evaluating the target market A good estimate of the Sensitivity economy by detecting expected changes in the marginal changes and their target market implications Trend Analysis Looking at the performance A simple way of estimating of the target market, the target market growth projecting into the future Macrosurvey Observing relative level of A crude method of development of the target determining the quality of market to decide how ready the target market and its it is for products potential
  • 14. Multifactor Analysis Evaluate a market on the basis of the size of another market. Utilize indicators like refrigerator ownership, per capita, TV sets Per capita, establishing a quality index for the target market. i.e., US is 100%, target market may have index of 15% Population of target market x as percent of US market. Adjusted market figure x by sales of refrigerator, TV sales in US. If the quality of the market is 15% of the US and population 10% of the US The market potential is 0.15 x 0.10 = 0.015% or 1.5% of the US
  • 15. Coefficient of Income Sensitivity As income of a target market is set to change, the impact of the change is not homogeneous. A 1% change in income may bring a 27% increase in food items and a 2% decline in public transportation.
  • 16. Trend Analysis Using past information about a target market’s income and Consumption patterns, by using trend analysis, this information Can be projected into the future.
  • 17. Macrosurvey In countries where inadequate data exists, can observe how advanced Communities are. Then approximate the level of advancement of these Communities.
  • 25. A simple product checklist Is there a need or demand? Can the product be produced in the target market? Can we distribute efficiently? Can we price the product attractively? Can our partner play the needed critical roles? Can we compete with local competition? Can we preempt future competition?
  • 28. Ideas Opportunities Solutions Realisation Performance Management Capability Spots Evaluates Selects Targets Creativity Innovation Strategic Thinking Differentiation Competitive Capabilities Governing Competitive Advantage Scope Costs: to customers Knowledge: Industry/market/technical/p Competencies rocess Entrepreneurial, Opportunity Relationships: Identification, Network, Conceptual, Customers/suppliers/distri Organisational, Strategic, Commitment, butors/relative power Resources Structure: Ability
  • 29. The Outcomes (potential targets) Key internal The process of Key external influences on the product/market influences on the Size and depth of change development development development Time process process The base potential for development Where the business is currently performing Gibb & Scott 1988
  • 30. Profile of business in terms of performance: Performance Base • Market trends: current product mix, market mix, competition • Production trends: Utilisation, efficiency, quality •Financial and Management: net worth, liquidity, gearing, trends Key internal influences on Administrative, marketing, production and Managerial the resources and capabilities. development process Key external Competition, market restrictions influences on the development process All influence the type of product and market development that will take place
  • 31. Environmental Analysis: Threats and Opportunities Market: product position and prospects Competition: Traditional, new firms, new industries, profits Technology: Changes and developments The Economy: Growth, inflation, Law Operating Needs Personal Business Strategies Operating & Tactics Products Objectives Objectives Budgets Manpower Finance Feedback loops Business Analysis: Strengths and Weaknesses Product: 4 Ps or 4 customer wants Profit/Cash flow: its sources and uses People: Management and Skills Facilities: age, technology and utilisation Burns & Dewhurst 1993
  • 32. Sources of Competitive Advantage (The reason for any product development in a company) Importance of price to customers, distributors, the extend of Costs: demand elasticity Knowledge: Stage of industry lifecycle, common industry knowledge verses your own specialised knowledge Links with customers, suppliers, distributors, relative Relationships: power Appropriate organisational structures, Ability to respond Structure: to market, leadership.
  • 33. Many Factors Change Markets and Give rise to Opportunities Social Social and cultural trends and drivers. Reviving historical trends Product Opportunity Gap Economic State of the economy Technology Shift in focus on where State of the art and to spend money emerging Level of disposable technology income Re-evaluating existing technology Cagan, J. and Vogel, C., M., (2002),
  • 34. Areas of Firm Innovation
  • 35. Potential Product Lifecycle IP Value & Profitability Novelty IP Va lue Competitive Concept Risk Taking Risk Taking it of Pr Pioneers Early Early Late Late followers Majority Followers Time Majority
  • 36. Technology/Market Positioning Hotel Coffee Shop Coffee Bean High Style Kedai Kopi Fast Food Low Low High Technology
  • 38. Table 6.1. Drucker’s Sources of Innovation Source Explanation Examples The unexpected Success of a revolutionary product or the application of •Apple computer success, failure or technology from one industry to another, sudden or •Rapid decline of Proton’s market external occurrence unnoticed demographic changes caused by wars, share insurgencies, migration, etc. An incongruity A change that is already occurring or can be made to •Sugar free products and sugar between reality as occur within an industry. It may be visible to those replacements due to concern for health it actually is and inside the industry, often overlooked or taken for •Increasing demand for travel and what it ought to be granted. holidays due to increasing incomes and leisure time Inadequacy of an An improvement in process that makes consumers •Caffeine free products existing technology more satisfied based on an improvement or change in •Microwave ovens or business process technology. •Mobile phones Changes in industry New ways and means of undertaking business based •Health care industry or market structure on identified opportunities or gradual shifting of the •Education industry – private education nature of the industry. Perceptual changes Changes in peoples awareness founded on new •Leisure and exercise industry aerobics knowledge and/or values or growing affluence leading & gyms to new fashions and tastes Demographic Gradual shift of demographics in population by age, •Establishment of more retirement changes income groups or ethnic groups, etc homes New knowledge New knowledge or application of existing theoretical •Video and VCD industry knowledge into an existing industry that can create •Robotics new products not previously in existence •Biotechnology
  • 39. Types of Innovation Type Description Examples Invention Totally new product Wright Bros – plane Edison – light bulb Bell – telephone Extension New use or different application Kroc – McDonald’s of an already existing product Bushnell – Atari Wilson – Holiday Inn Duplication Creative replication of an Wal Mart – Dept Stores existing concept Pizza Hut – Pizza restaurant Synthesis Combination of existing Smith - Fedex concepts and factors Merryil Lynch – Home equity into new use Financing
  • 40. Dispelling the myths about innovation •Less than 5% of new products launched on the market are successful • Out of 100 new ideas, less than 2 become a commercial reality • Most companies are followers and not innovators (even the Body Shop) • Very few really novel innovations are ever launched commercially • Most new products are incremental steps in enhancement, rather than something completely new (similar to the automobile industry)
  • 41. Sources of Innovation Drucker (1984) Identified seven sources of innovation
  • 42. Unexpected occurrences unexpected success
  • 52. Extension New use or different application of an already existing product
  • 53. Duplication Creative replication of an existing concept
  • 54. Synthesis Combination of existing concepts and factors into new use
  • 55. Other Examples Teflon Unexpected occurrences
  • 64. Principals of Innovation • Scan opportunities through purposeful processes • Be both conceptual and perceptual – get out into industry • To be effective, it has to be simple and focused – has to be used by average people • Pursue ideas that are going to make major change • Market knowledge is important
  • 65. New Knowledge Innovation is the most risky Better to focus on other sources of innovation: ie, applications of existing ideas and technologies as new knowledge technology development is extremely long term. Bright ideas are the riskiest source of innovation and rarely succeed. Receptability is always the problem (look at patents files but never commercialised)
  • 66. Opportunity Feasibility Technical – feasibility of product or service Market- Determination of market opportunities and risks Determination New Market Financial – Analysis of financial of Feasibility Feasibility and resources Organisational – Analysis of organisational Capabilities and personnel requirements Competitive – analysis of the competition
  • 67. Competitive Advantage What specific competitive advantages does the product offer? What are the competitive advantages of companies/products already in the market? How are competitors likely to respond? How will the initial advantage be maintained? Buyers Who will the customers be? How much will each customer buy? How many customers will there be? How will the customers be located? How will they be serviced?
  • 68. Marketing of Goods and Services How much will be spent on advertising and promotion? What share of the market will the company be able to capture? Time frame? Who will perform the selling functions? How will prices be set? How will they compare to the competitors prices? How important is location and how will it be determined? What distribution channels will be used? What are the sales targets? Production Will the company make or buy? What are the sources available at reasonable prices?
  • 69. Staffing How will competence in each area of the business be developed and maintained? Who will need to be hired? How will they be found and maintained? Financing How much will be needed for the development of the product or service? How much will be needed for setting up operations? How much will be needed for working capital? What assumptions are sales (financial) forecasts made?
  • 70. Specific Activities of a Feasibility Analysis Technical Feasibility Analysis Crucial technical specifications Design Durability Reliability Market Feasibility Analysis Product safety Market potential Standardisation Identification of potential customers Engineering requirements Potential customer dominant characteristics Machines Potential market share Tools Potential sales volume Instruments Sales price projections Work flow Market testing Product development Analysis of market Prototypes Market planning issues Product testing Preferred channels of distribution Field testing Impact of promotional issues Plant location Distribution costs Desirable characteristics Suppliers Environment
  • 71. Specific Activities of a Feasibility Analysis Financial Feasibility Study Competitive Analysis Required financial resources Existing competitors size Available financial resources Financial resources Market entrenchment Potential reaction of competitors to Newcomers by means of Price cutting, advertising, Organisational Capability Introduction of new products and Other Analysis Potential new competitors Personnel requirements Required skill levels Managerial requirements Determination of individual responsibilities Potential organisation development
  • 72. Opportunities are a product of our mind and these visions can become the design of our future with skilful and creative utilisation of scattered existing and forgotten resources to create great unimagined synergies. This is the true power of creativity that God has given humankind.
  • 73. A Creative Person enthusiastic, but risk assessor, who can think both serially and laterally, good at assessing opportunities, friendly, has good technical know- how, able to access what he or she doesn’t know, broad vision, an eye for detail, strong motivation to overcome hurdles, can give honest assessments and is aware of their personal strengths and weaknesses
  • 74. “Too much focus on process, on a static agenda, while it may get a lot done initially, will tend to drive core competencies towards core rigidity.”
  • 75. Practice/Process Trade-off Innovation Optimal Innovation Area Organisation Ideas becomes rigid Little gets done Practice Process
  • 76. Industry Today is Looking for the “Innovation” Solution How does a company become innovative and competitive?
  • 77. The replacement of existing technologies is happening so fast that 40% of the Fortune 500 companies that existed in 1975 do not exist today. Griffin, A., (1997), The Drivers of NPD Success: The PDMA Report, Chicago, Product Development & Management Association Now, on average new products launched in the last five years make up 33% of most successful companies profits. Foster, R., N., (2000), ‘Managing Technological Innovation for the Next 25 Years’, Research-Technology Management, 43, 1., Jan/Feb., P. 20. The cost of new technology is a powerful driver for firms to expand product distribution over a large number of international markets to recover investment costs quicker. New technologies are thus a push factor for the globalisation of companies due to the need to obtain greater economies of scale.
  • 78. To be effective requires a shared sense of purpose
  • 79. The elements of innovation Tempera Strategic Skills -ment Thinking Creativity Focus Innovation Culture Ego Learning Ability Interpersonal Interactions Hunter, Baharuddin (OUM) & Rozhan (UIA): Alpha Model of Innovation
  • 80. Creativity Ideas Education Group Creativity Culture Solutions Opportunities Lateral thinking Serial Strategic Personality Thinking Thinking Hunter, Baharuddin (OUM) & Rozhan (UIA): Alpha Model of Innovation
  • 81. Ego Inner ego: self assurance, dedication, motivation Outer Ego; Responsibility, Accountability, courage Environment, Family, Peers, Culture Hunter, Baharuddin (OUM) & Rozhan (UIA): Alpha Model of Innovation
  • 82. Culture Theories in action Stories, myths, heroes, artifacts, informal behaviours verses Espoused Norms and Producti Values Organisational group behaviour vity & learning (single or effective double looped ness Leadership Beliefs Assumptions
  • 83. Effect of Factors on Innovation Variable Absent Extreme Focus Random Tunnel vision Strategic Thinking Switched off Unfocused Creativity Unimaginative Over-imaginative, lose sight of big picture Ego Purposelessness Self-deluded Interpersonal Individualistic and Hesitant to take Relationships independent responsibility Culture Self centered and Fanatical moraless
  • 84. Optimum Innovation Innovation Qualities (at mean spectrum) Component Focus •Have control of the situation •Put the project first Strategic Thinking •Able to spot and work towards exploiting the opportunity •Able to secure resources (beg, borrow or steal) Creativity •Able to create both laterally and serially •Spot and exploit opportunities Ego •Inner need to make a difference •Able to take risks Interpersonal relationships •Able to network effectively Culture •Spot and exploit causes •Create social capital
  • 85. Optimum Innovation Innovation Qualities (at mean spectrum) Component Focus •Have control of the situation •Put the project first Strategic Thinking •Able to spot and work towards exploiting the opportunity •Able to secure resources (beg, borrow or steal) Creativity •Able to create both laterally and serially •Spot and exploit opportunities Ego •Inner need to make a difference •Able to take risks Interpersonal relationships •Able to network effectively Culture •Spot and exploit causes •Create social capital
  • 86. The Creative Thinking Process Incubation Knowledge Creative Ideas Accumulation Process Evaluation & Implementation
  • 87. Two Approaches to Creative Problem Solving Adaptor Innovator Employs a disciplined approach, Approaches tasks from unusual Precise, methodical approach angles Is concerned with problem solving, Discovers problems and avenues Rather than finding problems of solutions Tends to be means orientated Questions basic assumptions Is capable of extended details work related to current practices Is sensitive to group cohesion and Has little regard for means; is Cooperation more interested in ends Has little tolerance for routine work Has no need for consensus; often insensitive to others Adapted from: Kirton, M. (October 1976) Adaptors and Innovators: A description and Measure, Journal of Applied Psychology
  • 89. Processes Associated with the Two Brain Hemispheres Left Right Verbal Non verbal Analytical Synthesizing Abstract Seeing analogies Rational Non-rational Logical Spatial Linear Intuitive Imaginative
  • 90. Ways to Develop Left and Right Hemisphere Skills Left Hemisphere Skills Right Hemisphere Skills 1. Step by step planning 1. Using metaphors & of your work and life activities analogies to describe things 2. Reading philosophy 2. Taking off your watch 3. Establishing timetables when you are not working for all your activities 3. Listening to music 4. Using and working with 4. Suspending your a computer program initial judgment of ideas, people TV shows etc 5. Recording your hunches, feelings, and intuitions and calculating their accuracy 6. Detailed fantasizing and visualising things and situations in the future 7. Drawing faces, caricatures and landscapes
  • 91. Field Dependence- Independence Perception Embedded Figures Test (EFT) Witkin 1954, 1973, 1977
  • 92. Field Dependent (unable to see figures) ● Favour Social science & education ● strong social skills, gravitate towards others, more contextual in approaches ● Good at seeing connections between categories of information, look at environment holistically ● Process information in chunks ● Tend to rely on social information Holistic Approach to Issues Field Independent (able to see figures) ● Favour Maths, engineering, science ● Function with more autonomy & display a more detached approach, ● Focus on individual issues in the scanned environment ● Can isolate issues in a complex setting (block out what is not important) Specific Issue Analysis