1. Prof. Chandan Vichoray
B.E., MBA, Doctoral Thesis Submitted
Shri Ramdeobaba Kamla Nehru Engineering College, Nagpur
Market Research & identifying
International Business Opportunity
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2. Introduction
Export – The buzz word
Biggest attraction: Revenue in Foreign Currency
Boosts Individual’s as well as Country’s Economy
The Outsourcing Mantra works in favour of exports
Thrust on Multi-Locational Businesses for Efficient Supply
Chain
Boost through various Trade agreements and Trade Blocs
reducing the effect of barriers
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3. Why Market Research
A Scientific way of knowing the trends and probabilities of
business growths
Fuels innovations that can sometimes effect a paradigm
shift
Accelerated product life cycle
A way of beating competition for the initial time period
Faster market analysis through secondary data and
information
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4. An Approach to International Markets
Primary data collection a tough job
Hiring research agencies is going to be expensive
Initial approach through trading companies
Source of Market Research could be primary and
secondary sources
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7. Competency
Manufacturing / Services
Specialty Products
Niche Areas
Capability Vs. Capacity
Approach and Credibility
Knowledge of International Markets
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8. Resources
Primary Sources
Through Surveys
International Trade Fairs
Hiring international trade and marketing consultants
Talking with successful exporters of similar product
Secondary Sources
Private Sources like Libraries, Chambers of Commerce,
Internship reports
Public Sources like WTO, IMF, World Bank, Asian
Development Bank, Organization for Economic Cooperation
& Development
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9. Competition
Local Manufacturers / Service Providers
Concessions to local trade
FTAs arrangement with other countries for similar
product / service
Known devil is better than an unknown angel
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11. Step-by-Step Approach to Market Research
Obtain export statistics indicating product exports
to various countries
Identify 5-10 large & fast growing markets for the
products
Identify smaller but faster-growing markets
Examine trends for the products / allied products
that could influence demand
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12. Step-by-Step Approach to Market Research
Ascertain sources of competition, including the
extent of domestic industry production and other
foreign companies
Analyze the Product mix
Identify trade barriers and plan accordingly
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13. Indian Sources for Market Research
Director General of Commerce Intelligence & Statistics (DGCIS)
Department of Customs
Director General Foreign Trade (DGFT)
Tariff Commission
India Trade Promotion Organization (ITPO)
Indian Institute of Foreign Trade (IIFT)
Federation of Indian Chambers of Commerce & Industry (FICCI)
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14. International Sources for Market Research
UN Statistical Year Book
World Bank Atlas
World Factbook
International Financial Statistics
World Population Profile
OECD Publications
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16. Case Study of Haldiram’s
An Indian Company in Snack food business
Started as a small shop in Bikaner
Began US Operations in 1993 first targeting the
large Indian population
Lined up 15 products for the Indians
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17. Case Study of Haldiram’s
Strategic Shift: Savouring the Indian delicacies in
foreign country
A $4 Million Brand spread in UK and Middleeast also
50 Countries Stock Haldiram’s
Tied up with companies like TESCO, Sommerfield,
Sipneys and Carrefour
Initially surveyed for Indian population, got
acceptance with the Foreigners also
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18. Case Study of Haldiram’s
USP: Hygiene and Packaging thus retaining the
freshness
Product highly successful is the Khatta Meetha
whose sales have soared 112% since introduction
Export of Khatta Meetha is in excess of 125 tons
annually
A healthy growth rate of 40% Year – on -Year
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19. Product Mix of Haldiram’s
Includes Indian delicacies in the form of Snacks
Future plans include starting Indian Restaurants
abroad making a full food Corporation
International business will include milk products
and noodles localized as per the country
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20. Distribution Mix of Haldiram’s
Through various retails across the countries like
Carrefour and TESCO
Localized manufacturing planned with plants
operating from the same country where business
is planned
Short supplies arrangement using supply chain
thus ensuring copious supply of products
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21. References
Kumar Aseem, Export Import Management, EB
Henry Anthony, Understanding Strategic Management,
Oxford University Press
P. Subba Rao, International Business, Himalaya
Publications
Ball, McCulloch, Frantz, Geringer, Minor, International
Business – The Challenge of Global Competition, Mc-
Graw Hill
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