PACB 211

KNOWLEDGE
QUESTIONS

Topic 4 & 5

Cabarrubias, Rexalia A.
BSACC3-YA-1
 4.1 Why should you identify, analyse and
document poor and under-servicing of existing
international market needs by an organisation and
its competitors?

*Identifying, analyzing and documenting poor or

inadequate service from competitors and products
offered by competitors allows us to differentiate
our products, services and marketing. It helps you
keep your strategy competitive and meet
competing marketing campaigns with your own
initiatives.

You can use this knowledge to improve your

marketing strategies to take advantage of your
competitors' weaknesses and improve your own
business performance. You can also assess the
threat posed by both new entrants and current
competitors. This knowledge will help you
realistically assess how successful you can be.

4.2 Why is it necessary to identify market changes that

link positively to the organisation’s strengths and
capabilities?

*International markets should be constantly monitored

to identify trends, changes and links to organizational
strengths and capabilities. Global/international
marketing is subject to rapid change and increasing
competition. This means constantly monitoring market
changes so that marketers can update their processes
and strategies. .

Stay aware of all external developments and market

conditions that may impact the business, and be
prepared to react quickly and change plans if necessary
to identify and manage potential issues.

These changes can affect the economy as a whole, such

as recessions or economic downturn, or they can affect
only specific industries or sectors. To avoid potential
cash flow problems, it is important to pay attention to
possible changes and adjust forecasts and plans to
compensate for them.
4.3 List five different forecasting techniques with a brief description of each.

*Forecasting estimates the magnitude of uncertain future events and different

assumptions produce different results. Top forecasting methods according to
wallstreetmojo.com:

#1 – Delphi Method - A consensus of an expert group is required to complete the Delphi

method. In this method, a specific issue or situation is discussed among experts. There
will be a discussion or brainstorming session where everyone participating in the
discussion agrees.

#2 – Market Survey - In market research, customer interviews and surveys are conducted
in order to understand their tasks and unleash trends in a timely manner to provide
appropriate products or services according to their changing needs.

#3 – Executive Opinion -
As the name suggests, executives or managers are involved in such predictions. This
method is very similar to the Delphi method. The only difference here, however, is that
while management understands the problem or situation and has the experience in
formulating forecasting methods that yield the best possible outcome, they may or may
not be experts in the problem at hand It means that it may not be so.

#4 – Sales Force Composite - A seller's information and intuition determine the

customer's needs and estimate sales in a particular region or territory assigned to the
seller. This information is important for anticipating customer needs. You can use it to
make the necessary changes to your store to meet customer needs and pre-identify sales
volumes.

#5 – Time Series Models - Time series models look at historical data, identify patterns in
past data, and arrive at a point in the future based on those historical values. Since there
are patterns in past data, it becomes clear that there should be patterns in future data,
and this method deciphers future patterns in such a way that there is little deviation from
the actual calculations and results.
4.4 What criteria will an organisation use
to determine whether a forecasting
technique is appropriate to their needs?

*The choice of method depends on many

factors, including the context of the
forecast, the relevance and availability of
historical data, the level of accuracy
required, the time period over which the
forecast is made, and the cost/benefit (or
value) of the forecast to the forecasting
firm and the time available for analysis.
 4.5 From what sources will you gather information
about emerging international markets and market
needs?

*There are three primary types of marketing

information marketers use to gain insights that will
contribute to wise marketing choices:
(a) internal data - Internal data typically consists of
information that companies collect about their
customers and potential customers as part of their
internal operations.
(b) competitive intelligence - Competitive intelligence is
marketing information that helps marketers and other
members of an organization better understand their
competitors and competitive market dynamics.
(c) marketing research - Marketing research is the
systematic process of identifying marketing
opportunities and solving marketing problems using
customer insights gained from the collection and
analysis of marketing information.
 4.6 What business needs should be
assessed?

*Identify business requirements in terms of

skills and knowledge, resources (including
human resources), legal understanding,
culture, and other factors that affect
business operations, and the processes
that must be followed to meet those
business needs should be considered in
relation to.
5.1 From what sources would you access
examples of cultural, historical, political,
economic and general knowledge of
international events that might have an
impact on international business?

*Some sources of marketing information

marketers use to gain insights that will
contribute to wise marketing choices:
internal data, competitive intelligence,
and marketing research.
 5.2 What types of information from internal and external sources
will be relevant to forecasting international market and business
needs.

*(A) Internal Sources:

Refers to sources within the organization. In some cases, internal

sources are essential, without which researchers cannot achieve
their desired results. Internal sources include accounting
information (his A/C trading profit and loss and balance sheet for
various years), reports from vendors, statistics related to advertising
costs, transportation costs, etc. collect information.

(B) External Sources:

Sources of marketing information that are obtained from outside

your company. External sources can provide company, customer,
competitor, or industry data. External sources is most reliable when
it is gathered from and compared with a variety of external sources
such as those we'll explore in this lesson.
 5.3 When interacting in international markets
there will be legislative and regulatory
compliance requirements. These will relate to
the home country and to the host country. Make
a list of areas that this will relate to for Australia
and the Philippines.

Legislation - About us - Fair Work Ombudsman

Employment & Labour Law 2021 | Philippines |

ICLG
 5.4 Why was the Asia-Pacific Economic
Cooperation (APEC) Privacy Framework
developed?

*The APEC Privacy Framework promotes

flexible approaches to protecting
information privacy in APEC member
economies while avoiding creating
unnecessary barriers to the flow of
information.
 5.5 What is the purpose of the CBPR system
and how is it assessed?

*The APEC Cross-Border Privacy Rules (CBPR)

system benefits both consumers and
businesses by ensuring that regulatory
differences do not prevent companies from
offering innovative products and services.

Through the CBPR scheme, accredited

businesses and governments will work together
to ensure that personal information transferred
across borders is protected in accordance with
standards set out in the scheme's program
requirements and enforceable in all
participating jurisdictions. guaranteed.
5.6 Give examples of software applications that are commonly used in market analysis and forecasting
and list their key features. Through your own research list three or four software applications then
select two and write a brief report where you compare, assess and analyse them.

*Some forecasting software are:

°Zip Forecasting
- Zip Forecasting automates sales forecasts and
demand planning
by integrating with existing management systems. By accessing data from point-of-sale (POS) and
inventory tracking software, Zip Forecasting uses real-time and historical data to improve estimations.

°Pipedrive
- Pipedrive illustrates a company's sales pipeline so they can pinpoint lagging systems and bottlenecks.
This allows businesses to determine exactly what areas need improvement to optimize profitability and
efficiency. Pipedrive has a live employee dashboard that displays real-time transactions and
performance metrics. With accurate insights, management can gauge their progress toward set goals.

°Adaptive Insights
- Adaptive Insights focuses on which initiatives and decisions have the biggest impact on sales. No
sales pipeline is straightforward, and owners need to understand exactly what operations they can
leverage to drive profits. Managers can use Adaptive Insights to develop what-if scenarios to
determine how each case will affect the bottom line. This way, the company can prepare for the worst
and optimize systems for the best.

°Basic-Code
-Basic-code is the provider of Sales Analysis and Forecasting Tool, which optimizes companies'
inventory while improving forecasting strategies. Businesses can also customize this tool to fit their
unique needs. This level of functionality gives companies flexibility and the ability to improve efficiency.

*In this examples of software that can be used in market analysis and forecasting, I recommend to use
Zip Forecasting and Pipedrive.

Zip Forecasting estimate customer demand, optimize inventory levels, and avoid dead stocks and out-
of-stocks. Predict sales to improve workforce planning and limit labor costs. Adjust inventory reorder
points to maximize sales, increase profit margins and minimize inventory costs. The solution also takes
weather into account for organizations planning future events. Zip Forecasting also has reporting
capabilities that use visual aids such as graphs and charts to better explain your metrics. These
predictions take the guesswork out of it, allowing organizations to streamline decision-making and
preparation.

On the other hand Pipedrive create a more accurate visualization of your sales pipeline to ensure better
insight and results. This allows businesses to see where they need to focus their attention in their
pipeline and what they need to do to increase sales. Reporting features include trade tracking, revenue
forecasting, and more. Pipeline features robust live dashboards that give your sales team and
executives visibility into their work in real time. It also tracks revenue and company goals to ensure
every step is on the right track.