Professional Documents
Culture Documents
Researching and Analysing Overseas Markets 5
Researching and Analysing Overseas Markets 5
Researching and Analysing Overseas Markets 5
Background information Five rules for international research Entry evaluation procedure
Stage 1 - Country identification Stage 2 - Preliminary screening Stage 3 - In-Depth screening Stage 4 - Final selection
Market information
Market potential Consumer / customer attitudes and behaviour Channels of distribution Communications and media Market sources New products
Competitive information
Competitive business strategy and goals (mission and rationale of the company) Competitive functional strategies and programmes (target markets, marketing mix, etc) Competitive operations (morale, employee transfers, i.e. detail)
Foreign exchange
Balance of payments, interest rates, etc Prescriptive information e.g incentives, controls, regulations. Country monetary and fiscal policy Expectations of bankers, traders, analysts, etc Government policy in relation to its own competitiveness e.g China, USA
Resource information
Human resources Money Raw materials Acquisitions and mergers, joint ventures
General conditions
Economic factors - e.g. growth Social factors e.g. customs, attitudes Political factors e.g investment climate Scientific and technological factors - major developments and trends Management and administrative factors e.g. report procedure
Sources of information
Human sources e.g company executives Documentary sources e.g too much! Perception sources e.g. what we see and hear Information and media
face-to-face conversation telex/fax/e-mail sight, smell, taste
Two: Start with desk research Three: Identify the type of information that is available from overseas sources Four: Know where to look (or find somebody that does) Five: Do not assume that the information that you gain is comparable or complete. Keegan 1995
Entry evaluation procedure Stage 1 - Country identification Stage 2 - Preliminary screening Stage 3 - In-Depth screening Stage 4 - Final selection