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international business plan

business plan for jio telecommunication in canada

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MARKET ENTRY & DISTRIBUTION

GROUP ASSIGNMENT:

EXECUTIVE SUMMARY & INTERNATIONAL BUSINESS PLAN – 15%

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GROUP PRESENTATION – 10% (WEEK 14)

RESEARCH, CREATE & SUBMIT:

AN EXECUTIVE SUMMARY & INTERNATIONAL BUSINESS PLAN

& DELIVER:
International Business Plan Presentation

PROJECT OUTLINE:

Take an existing or new product or service from the country of your choice into an international market that is
new to the company.

The company in question can be:
A real business (to which you have an association or not)
A business that does not yet exist, but which you propose to set up
A fictitious business of your choice

The steps to follow are:
1. Select an organization, product or service and international target market.
2. Complete secondary research to gather information on the following when exporting the selected product or service to the selected target market:

a.
potential market entry strategies and your selection & how it will be implemented

b. laws and relevance

c. cultural trends/attitudes – how to use these to your advantage

d.
barriers and how they will be overcome

e. and other key considerations and suggested actions

3. Must include an EXECUTIVE SUMMARY and follow the International Business Plan format as we have used before:

EXECUTIVE SUMMARY must include:

· Customer problem/opportunity

· Your solution/approach

· Business model (how you make money)

· Target market (who is the customer and how many are there)

· Competitive advantage

· Management team

· Financial summary

· Funding required

INTERNATIONAL BUSINESS PLAN FORMAT REQUIRED:

Area

Content may include

Business strategy

· Organization’s current position and business model

· Current state/trends in sector

· Competitive advantage

· Organizational growth plan

·
Market Entry Strategy

Marketing strategy

· Product/service and how it meets the needs of the target market or needs to be

adapted

· Price point

· Where and how product/service will be sold/delivered

· How organization will connect with customers in the target market

Operational plan outline

· Facility requirements

· Management information systems

· Information technology requirements

· Commitment of resources

Human resources plan

· Organizational chart of personnel needed for market entry

· Job descriptions of all personnel

· Critical skills needed

· Training programs and requirements to meet organizational skill gaps

· Short- and long-term recruitment and retention plans

Communications strategy

· Processes for internal interaction

· Processes for interactions with potential and existing customers

· Processes for interactions with organizational support services

Social responsibility strategy

· Environmental policies and initiatives

· Community contribution initiatives

· Relevant certifications

E-business strategy, if applicable

· Website development

· Hardware and software requirements

· Security issues

Financial plans and forecasts

· Cash flow statements

· Profit and loss forecasts

· Sales forecasts

· Required capital and external funding

· Repayment plans for borrowing

· Foreign exchange forecast

Exit strategy

· Select exit strategy

· When exit strategy will be implemented

· Organizational valuation process

· Exit clauses


MARK ALLOCATION–

International Market Entry Strategies
EXECUTIVE SUMMARY & INTERNATIONAL BUSINESS PLAN – 15%

GROUP PRESENTATION – 10%

EXECUTIVE SUMMARY & INTERNATIONAL BUSINESS PLAN (15%)

· Professionalism (Formatting, Style, Grammar)

– 5%

· Content (As per Project Guidelines)

– 10%

GROUP PRESENTATION (10%)

PowerPoint Presentation – 5%

· Professionalism (Formatting, Style, Grammar)
· Content (As per Project Guidelines)

· Visual Appeal

Presentation – 5%

· Professionalism (Preparedness, Contribution)

· Presentation (Confidence, Communication, Engagement)

· Subject Knowledge

INGROUPS:

Write a Feasibility Research Report for a potential international trade initiative.

The research report must outline the research taken to determine the feasibility of an international business opportunity for either the company you work for or a fictitious company of your choice. It should relate to either an exporting or importing opportunity for an existing or new product or service for an identified target market. Based on your report, the organization reviewing it should have all the information it needs to determine the feasibility of the particular international venture.


The steps to follow are:

1. Identify the potential international trade initiative, providing details on the product or service, whether the opportunity is for export or import, and which market you plan to target.

2. Outline the research objectives, methodology and data sources used. Refer to Evaluation Criteria for more details on each of these components.

3. Conduct secondary research to gather data, trends and facts to inform your report.

4. Collect, organize and analyze the research data.

5. Write a comprehensive research report to assess the feasibility of the potential trade initiative using the Evaluation Criteria as an organizational guide.


Submission Format

1. Please submit your project (Feasibility Research Report) electronically in WORD format in the Assignment section, with the PowerPoint presentation also included.

2. The project must contain a title page with:

a. the name of the company

b. the product or service and target market

c. the course title and professor name

d. group member names, group leader name and student IDs

3. The acceptable fonts are Calibri (no smaller than 11pt) and Arial (no smaller than 10pt). Line

spacing must be 1.5. Plagiarism is NOT tolerated. Evidence of plagiarism will result in a failed examination. NOTE: The Feasibility Research Report must not exceed 25 pages (excluding title page, table of contents, bibliography and appendices).


Project Guidelines

• Present a well-organized, logical project that reflects both descriptive and analytical abilities. Consider options and alternatives, make recommendations and explain your rationale for the selection. The process of arriving at a recommendation or conclusion can be more important, in some cases, than the recommendation itself.

Structure the project in line with the Evaluation Criteria. Review the expectations related to each section of the project and ensure you address these thoroughly. Look carefully at the grading scheme. In general, if a section is worth twice as much as another, your project should reflect that proportion.

• Remember that these projects are your opportunity to demonstrate learning, understanding and retention of international trade concepts. Sometimes, considering an alternative and dismissing it (with supporting rationale) can be very effective in demonstrating an understanding of the material.

• Metrics and financials are important elements of any serious report or analysis. Descriptions are important and qualitative analysis is valuable when properly done. Choose sources carefully and ensure that your project is well-supported with data, metrics and financials. Also, be sure to quote the source of all information and references provided.

• Each project provides the opportunity to earn points for the “Overall Format” of the project (see Evaluation Criteria). With minimal effort and a little creativity, you can make your paper visually interesting. Use supporting graphics effectively, organize sections and titles to assist with flow and readability and review grammar and spelling. Pay attention to the quality and organization of your project.

FIGURE 2.1
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Feasibility Study Research Project: The Research Process
Define Research Objectives
Create Research Brief
Screen Potential International Markets
Select Research and Data Sources
Design Data Collection Tools and Collect Primary Data
Organize and Analyze the Data
Present Conclusion and Applying the Research

Define Research Objectives
Identify Problems
Develop Questions
Identify Opportunities
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1
STAGE

Starting with a Problem or Opportunity
Possible Questions When Addressing Specific Business Problems
Problem: Our export sales are dropping.
Question: Why are our export sales too low? How can we increase sales to international markets?
Problem: We are suffering from bad press regarding our international business practices.
Question: What is causing this negative image? How can we improve our international reputation?
© 2017, 2020, 2021 FITT All Rights Reserved
1 |
2 |

Starting with a Problem or Opportunity, continued
Questions might also be based on the desire to exploit new opportunities
Opportunity: Restrictions have been lifted on exporting meat products to the European Union.
Question: Should we export to the EU now that trading conditions have changed?
Opportunity: We have received emails from potential purchasers overseas.
Question: Is there enough demand for our product in international markets to justify exporting?
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1 |
2 |

Starting with a Problem or Opportunity, continued
Dividing the Problem
What is the background to this problem or opportunity?
How does this problem or opportunity relate to the competitive environment?
Is the required research possible?
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Examples of Good International Trade Research Objectives
Identify three international markets for the new software
Define the U.S. government requirements for electronic imports
Monitor the trends in downloaded music in India over the next 12 months

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Situational Analysis

Key Research Issues for Exporters
When exploring feasibility for a new venture, research objectives should answer the following questions:
Which international opportunities meet or do not meet the organization’s strategic objectives?
What are the characteristics, pressures, trends and requirements in the target countries that meet the strategic objectives?
What are the preliminary priorities and risks associated with export trade opportunities?
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Key Research Issues for Exporters, continued
Macroeconomic Data
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Gross national product
(GNP)
Gross domestic product
(GDP)
Purchasing power parity
(PPP)
Household disposable income
Market size
Market potential
Market resources
Market sectors
Infrastructure
Urbanization

TABLE 2.2
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Macroeconomic Research Objectives
GNP Identify the country’s annual GNP for the last 5 to 10 years
Identify the criteria used for measuring GNP, to verify accuracy and comparability
GDP and PPP Identify GDP per capita for the last 5 to 10 years
Estimate the PPP for the market compared to the domestic currency
Household disposable income Identify national and regional household disposable incomes
Market size Identify the country’s population, age distribution, population density and population distribution
Market potential Identify country’s average income and income-distribution figures
Examine patterns of consumption spending
Examine patterns of industrial spending

Continued…

TABLE 2.2
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Macroeconomic Research Objectives, continued
Market resources Provide detailed information about topography, climate and natural resources of target country
Market sectors Evaluate the degree of economic activity occurring in major economic sectors
Track rate of change in market activity in major economic sectors
Infrastructure Identify the safest and most reliable routes and modes
Determine travel times from urban centres
Assess reliability, costs and accessibility of business communications
Urbanization Determine population density and demographics of major urban areas
Identify average income and income-distribution figures for city workers

Cultural and Lifestyle Information
Involves several areas of research:
Material culture
Cultural preferences
Languages
Education
Religion
Ethics and values
Social organization
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Material culture Identify the percentage of the population that owns a car
Identify the percentage of the population with access to Internet and wireless communication
Determine affordability and availability of natural gas and electricity for households
Cultural preferences Determine cultural taste preferences
Identify common associations related to symbols and colours
Identify cultural sensitivities that may impact product or service sales
Describe societal roles and expectations
Language Identify the national languages
Identify the official languages
Identify the rates of multilingualism

TABLE 2.3
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Cultural and Lifestyle Research Objectives
Continued…

Education Describe the level of technical education
Identify the percentage of the population that attains a higher education
Identify the percentage of women who attain higher education
Religion Identify the main religions and the official religion
Describe any influence or control religion has on behaviour that may affect sales of product or service
Ethics and values Explore whether dealing with foreign traders is considered a suspect activity
Identify the human rights record
Describe environmental concerns
Social organization Describe role of women in society
Identify attitudes towards minority groups within the population
Describe the extent of militarization

TABLE 2.3
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Cultural and Lifestyle Research Objectives, continued

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Situational Analysis

Political and Legal Information
Political risks that can be identified and evaluated through research:
Political instability
Discrimination against foreigners, foreign trade or foreign investment
Control over commerce
Weak legal protection for property and Intellectual Property rights
Legal business structures
Tax regimes
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Situational Analysis

TABLE 2.4
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Political Research Objectives
Political instability Identify the stability of the current government and how frequently anti-government protests occur
Identify popular support for existing regime
Describe the strength and nature of any political opposition
Discrimination against foreigners, foreign trade or investment Identify the general attitude and discriminatory policies in the market that hinder, or create barriers for, foreigners, foreign trade and foreign investment
Identify key decision makers and their attitudes and preferences towards foreigners and foreign trade
Control over commerce Describe any potential ethical issues that may arise because of business practices in the foreign market, e.g. corruption, bribery

Continued…

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Situational Analysis

TABLE 2.4
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Political Research Objectives, Continued

Weak or legal protection for property and intellectual rights Identify if and how property rights and intellectual property rights are protected
Legal business structures Describe the available forms of legal business structure in the target market
Identify any effect of an organization’s legal structure on liabilities and taxes
Tax regime Identify tax rates and reporting requirements
Describe how taxes are calculated
Describe how tax issues are adjudicated

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Situational Analysis

Product or Service Potential
See Table 2.5 – Product or Service Potential Research Objectives
Research should consider:
Regulations and prohibitions
Sizes, weights and measures
Packaging preferences
Labelling
Pricing
Logos, design and colour
Quality
Preferred purchasing method
Warranties and service
Distribution considerations

Adapted from TABLE 2.6
Competitor Research Objectives
Describe the competitor in terms of
Location and structure
Key employees and their skill sets
Existing strategic partners
Main product or service offerings
Identify competitor’s typical and key customers
Describe competitor’s marketing strategies and activities
Identify competitor’s market share
Identify competitor’s suppliers
Identify if modifications are required to products or services

Key Research Issues for Importers
See Table 2.7 – Key Research Objectives for Importing
The main focus of the research objectives is on assessing operational issues related to the suitability of the supplier or partner, as well as the impact on the supplier’s or partner’s country on the business relationship.

Political and legal environment State whether the export of the desired product, technology or service is restricted from the source country and whether import into the home country is prohibited or permitted
Identify the safety standards that apply in the source country and state whether these are adequate for the importing country
Describe issues with the political situation that could affect the security of the supply and access to it
Identify whether counter-trade arrangements are required
Technological environment Describe how the infrastructure in the country will affect communication with the supplier
Determine whether data protection or cyber-security will be an issue when using the supplier
Marketing benefits Explore the image and reputation the source country has in the organization’s home country: positive or negative? What impact will this have on your own corporate image?

TABLE 2.7
Key Research Objectives for Importing
Continued…
Macro-Level Source Country Attractiveness

Financial environment Identify financial circumstances that could make it difficult for the importing organization to make payments
Circumstances might include monetary policy or the banking infrastructure
Labour environment Describe the current and expected labour market conditions in the source country
Is there adequate transparency and accountability to ensure shareholders will be appeased and public perception will be positive?

TABLE 2.7
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Key Research Objectives for Importing, Continued
Continued…
Macro-Level Source Country Attractiveness

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Key Research Objectives for Importing, Continued
Domestic market conditions Identify whether there are tariffs or non-tariff barriers
Assess whether the product technology is compatible with required standards
Supplier selection Identify all suppliers that possess the product, process or service that the organization can use
Assess reliability
Assess skills gap
Describe supplier’s previous experience
Physical selection Describe how distribution and transportation facilities will affect delivery capacity and delivery times

Market Potential and Supplier Attractiveness
TABLE 2.7
Continued…

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Key Research Objectives for Importing, Continued
Management of the business operation on an ongoing basis Identify product or service adaptations that must be met to meet rules and requirements of the importing country
Identify labelling standards
Describe training procedures that must be in place for the employees

Internal Suitability
TABLE 2.7

Key Research Issues for Importers, continued
Macro-Level Source Country Attractiveness
Organizations require a rapid evaluation of how the environment in the source country will affect the trading opportunity.
Political and legal environment
Technological environment
Marketing benefits
Sociocultural environment
Financial environment
Labour environment
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When trade is possible with a country, organizations must gather information that can be used to find suitable suppliers
Domestic market considerations
Supplier selection
Physical infrastructure
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Key Research Issues for Importers, continued
Market Potential and Supplier Attractiveness

Once a supplier is selected, the organization needs to understand the implications of the activity for its business before a final trade strategy can be developed
Import directly from supplier or hire a foreign agent?
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Key Research Issues for Importers, continued
Internal Stability

Research Issues for Foreign Direct Investment
Ownership-Based Investments
Greenfield
Brownfield
Acquisition
Joint venture
Merger
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Investments Based on Strategic Alliances
Supplier alliances
Research consortium
Co-marketing alliance
Co-production alliance
Bidding consortium

Types of Research Requirements
See Table 2.8 – Location-Oriented Research Considerations
Geographic considerations
Legal considerations
Financial considerations
Regulatory considerations
Employment considerations
Relocation considerations
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Partner-Based Research Requirements
Researchers must gather information that includes:
Size
Financial stability
Product and service orientation
Market orientation
Intellectual Property
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Relationships
Management and personnel
Reputation
Strategic direction
Corporate culture

Create Research Brief
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2
STAGE
Background Information
Timelines
Estimated Budget
ELEMENTS IN A
RESEARCH BRIEF
Organizational background information
Business problem or opportunity background
The reason for research
The actions to be taken with research information
The deadline
The budget

Estimating Budgets
Determine your overall project budget
Review what’s already available
Know what you are in for
Set realistic expectations
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Important Considerations in
International Trade Research
Multiple markets need to be researched
Many small markets
Methodological challenges
Infrastructure challenges
Cultural differences
Security challenges
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UNIT 3
Situational Analysis: Determining Current State and Opportunity for Growth
Screening Potential International Markets: Narrowing the Focus
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STAGE 3: Screen Potential International Markets
Secondary and Primary Research

Screen Potential International Markets
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3
STAGE
Market Size and Growth
Market Accessibility
Business and Political Environment

Market Size and Growth

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Situational Analysis

Market Accessibility

35
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Situational Analysis

Business and Political Environment

36
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Situational Analysis

Secondary and Primary Research
Examples:
An organization’s own publications
Government publications
Competitor’s websites and publications
Newspapers, journals, magazine articles
Online Resources for:
Market and business conditions
Country reports
Organizational information
Directories
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Judging the Accuracy of Online Information
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GUIDELINES

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Situational Analysis

Prioritizing Markets for Further Investigation
Largest number of potential customers
Fewest potential barriers (legal, political, financial)
Fewest competitors
Most stable political environment
Highest growth economy

UNIT 4
Situational Analysis: Determining Current State and Opportunity for Growth
Selecting Research Design and Conducting Secondary Research
STAGE 4: Select the Research Design and Data Sources
Types of Research
Data Sources
About Secondary and Primary Research
Conducting Secondary Research

Select the Research Design
and Data Sources
4
STAGE
Primary Sources
Qualitative (Exploratory)
Secondary Sources
Quantitative (Causal)
RESEARCH DESIGN WILL
DEPEND ON THE:
Secondary information available/ need for primary research
Type of data required
Quantitative
Qualitative
Type of research needed to address objectives
Budget and timelines allotted for the research

Types of Research

Types of Research, Continued
Quantitative and Qualitative Research
Quantitative: information that can be analyzed numerically
Qualitative: descriptive information
Exploratory, Descriptive and Causal Research
Exploratory: collecting information informally to gain insights
Descriptive: semi-structured research involving collection of data to explain current market condition, demographics or current business problem
Causal: attempting to determine whether one market variable impacts another
Continuous / Ad Hoc Research

Data Sources
Reliability of the sources
Comprehensiveness of the sources
Comparability of the sources
Cost of obtaining data from the sources

TABLE 4.1
How Required Information Can Influence Research Design
Types of Information Required Research Required
The number of units of a product sold in a potential new market over the past five years. (Quantitative data that is likely to be available in some form.) Secondary research. For example, a market research report on a trade report obtained online.
Number of customers in a new target market who are dissatisfied with a service the company is considering replacing. (Quantitative data that is unlikely to be available.) Primary research. For example, a survey asking a sample selection of customers if they are satisfied or dissatisfied.
The features of a care that are most appealing to consumers in a new international market. (Qualitative data that might be available in some form.) Secondary research into the characteristics of the best-selling cars in the market if available, followed or enhanced by primary research to determine customer preferences.
The regulations for selling pharmaceutical products in a potential new market. (Quantitative data that might be available in some form.) Secondary research. For example, government regulations posted online.

About Secondary and Primary Research

Advantages and Disadvantages
of Secondary Data
Time scales
Definitions
Classifications
Privacy issues
Measurement error
Source bias
Reliability
Advantages and Disadvantages
of Primary Data
Current
Specific research objectives
Information is confidential
Slower collection timeline
Can generate results quickly
Difficult to collect
Can be expensive

Conducting Secondary Research
Secondary data should be investigated when:
Cheaper and faster to collect than primary data
Fulfills the market research objectives without the need for primary research
Its collection can help improve a researcher’s understanding of a marketing problem and lead to better design for the primary research

Adapted from TABLE 4.2
Secondary Data Sources
Internal Records and Information
from Internal Expert
Source Sample Data
Sales and accounting records Baseline comparisons of trends, costs and target customers
Distributors and customers Buyer expectations and purchase patterns
Employees with experience in the target market Opinions about general conditions, cultural impact and business methods

Adapted from TABLE 4.2
Secondary Data Sources, Continued
External Sources and Experts
Source Sample Data Source Sample Data
Trade or industry associations Practices, trends and conditions related to the organization’s expertise Various websites Fast access to publications, directories, yearbooks, statistics and market research reports
Non-government associations (NGOs), universities and trade-related businesses Comparative market, population and demographic statistics, competitor information and credit information Government departments and agencies Market assessment publications, trade statistics, trade regulations and export and import controls
Publications, directors and yearbooks Market statistics, general information about trends, interests, demands and regulations, sources of information and advice Representatives of the target country Trade and market conditions specific to the country and cultural considerations

Internal Sources
Online Search
Public Documents
Semi-Private Sources
Private Sources
Adapted from FIGURE 4.1
Tips for Conducting Secondary Research
1
2
3
4
5

UNIT 5
Situational Analysis: Determining Current State and Opportunity for Growth
Collecting Data for
Primary Research
STAGE 5: Design Data Collection Tools and Collect Primary Data
Deciding Who Will Collect the Primary Data
Collecting Primary Data Through Focus Groups
Collecting Primary Data Through Questionnaires and Surveys
Collecting Primary Data Through Interviews
Collecting Primary Data Through Observation
Visiting the Target Market
Sampling Plans for Primary Research

Design Data Collection Tools
and Collect Primary Data
5
STAGE
Surveys
Questionnaires
Focus Groups
Observation

Deciding Who Will Collect Primary Data
Internal Researchers
Deep understanding of organization
Accessible
Knowledge gained through research will add to company’s knowledge base
Costs as part of worker’s responsibility
Understand organization’s research preferences
External Researchers
Can select qualified agency (e.g. right skills, expertise, knowledge)
Can negotiate time frames
No inherent bias

FIGURE 5.1
Finding a Research Agency

Collecting Primary Data
Through Focus Groups
Recruiting Focus Groups
Running the Focus Group
Focus Group Techniques
Virtual Focus Groups
Focus Groups in International Trade

Collecting Primary Data
Through Questionnaires and Surveys
Designing Structured Questionnaires
Designing Unstructured Questionnaires
Designing Semi-Structured Questionnaires
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Adapted FIGURE 5.2
Process for Designing a Questionnaire
Identify needs and
delivery method
Translate into rough
questionnaire draft
Check suitability of questions
Revise draft questionnaire
Pretest rough draft
Make suggested changes
Prepare final questionnaire

Y
Y
Y
Y
Y
Y
N
N
N
N
N
N
Do questions match
data needs?
Is the wording clear
and unbiased?
Is the sequence logical
and objective?
Is the layout clear and
encouraging to response?
Does the delivery method
match research needs?
Another pre-test: Are
there any last questions?

TABLE 5.1
Questionnaire Administration

TABLE 5.2
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Comparison of Survey Delivery Methods
Method Cost / Time Data Collected Comments
Face to Face Most expensive method
Can involve substantial travel
Researchers can control time taken to collect data Researchers can collect large amounts of data
Researchers can ask complex questions
Researchers can clarify answers and use non-verbal cues Method requires well-trained interviewers fluent in local language, and understand local customs
High cost can limit sample size and geographic coverage
Telephone Moderate cost
Enables shortest elapsed time for each interview Researchers can clarify answers
Researchers collect smaller amounts of data
Researchers must limit complexity of questions Sample is limited to those with current and listed telephone number
Much easier for respondent to end interview than with a survey taken in person

Method Cost / Time Data Collected Comments
Paper Mail Low to moderate cost
Involves the longest wait for results
Researchers often need a second survey to follow up Researchers have less ability to ask long or complex questions
Researchers cannot clarify unclear responses Method requires simple, clear and brief questions
Respondents can easily choose not to answer the survey
Response to mail surveys is extremely low
Researchers can cover a wide geographic area and a large sample
Email and Internet Very low cost
Response times are often rapid Researchers have less ability to ask long or complex questions
Researchers cannot clarify unclear responses, but can use an e-interviewer Questions must be written in short format
In some markets, Internet access might be limited
Can cover very large global area

TABLE 5.2
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Comparison of Survey Delivery Methods, Continued

Improving Response Rates
Notify respondents in advance
If sent by mail:
Send first class
Include postage paid envelope
Cover letter should ‘ask for help’ and indicate confidentiality
Make it easy to read and complete
Make it as concise as possible
Offer incentives
Send reminders
© 2017, 2020, 2021 FITT All Rights Reserved

Adapted from TABLE 5.3
Factors to Consider in International Markets
Language Literacy Culture Infrastructure
Care must be taken not to assume that culture and language are the same throughout the country
Costs of translating a questionnaire and interpreting data must be factored into research design Literacy levels of a country influence the response to surveys
High literacy = higher confidence that respondent understands and will complete survey
Varied literacy levels may affect return rates In some countries, privacy is closely guarded
There might be reluctance to respond to questions in writing, especially in countries with history of censorship or other restrictions Supporting infrastructure can affect efficiency and validity of studies, e.g.
Telephones restricted by social or income class lead to biased results
Irregular mail delivery can affect response time
Contact information (e.g. addresses, phone numbers) may be unavailable or outdated
In virtual setting, participants must have familiarity with hardware and software used and have necessary infrastructure

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Situational Analysis

Collecting Primary Data
Through Interviews
Preparation for Interviews
Interviews in International Trade Research
Language and pronunciation issues
Cultural differences
Communication issues
Body language
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Collecting Primary Data
Through Observation
Unobtrusive
Well suited for quantitative and qualitative data
Useful for:
Recording acceptable behavior
Testing distribution methods
Testing acceptance of product or packaging
Many forms, e.g.:
‘Silent shopper’ (act as a member of the public who is buying or inquiring about a product or service)
Use of video cameras
Online observation
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Visiting the Target Market
Virtual Trade Show Options
Preparing for an In-Person Market Visit
Standard business hours and dates, public holidays
Means of transport
Materials required for meetings
Business and social etiquette
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During the Visit
Possible distribution channels
Pricing, product or service characteristics
Typical consumer behaviour in the market
Competitor’s promotional activities
Standard packaging
Industry standards and regulations
Costs of applications and testing
Industry statistics
INFORMATION TO KNOW

Sampling Plans for Primary Research
Who Will be Researched?
Identifying the population for the study or overall group
Determining the specific characteristics of the sample group
Selecting the tool or method to be used
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What Method will be Used?
Probability based method
Non-probability based method

Adapted from TABLE 5.4
Source: Tull, Donald and D Hawkins, “Marketing Research: Measurement and Method”
© 2017, 2020, 2021 FITT All Rights Reserved
Use of Sampling Methods
Criteria Non-probability Probability
What kind of information is needed? Average use or proportion who prefer option 1 over option 2 Totals that can be projected to the entire population, such as market share
What kind of accuracy is needed? Trends and general figures Highly accurate estimates with little tolerance for error
How large are non-sampling errors to be? Large prospects for errors in respondent selection and non-responses due to limited access Little prospect, meaning errors due to poor sample selection can have large impact
How much variation is there in characteristics of the population? Little variation, so unlikely to select a highly non-representative sample High variation (e.g. a country with many religions)
What is the expected cost of the sampling errors? Low cost if the data has high or low accuracy High cost for low accuracy

UNIT 6
Situational Analysis: Determining Current State and Opportunity for Growth
Organizing Data and Presenting Conclusions
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STAGE 6: Organize and Analyze the Data
Assess the Quality and Reliability of the Data
Sort and Classify the Data
Perform Statistical Tests and Analyze the Results
STAGE 7: Present Conclusions and Apply the Research
Ongoing Research and Global Market Information Management Systems

Organize and Analyze the Data
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6
STAGE
Assess the quality and reliability of the data
Sort and classify the data
Perform statistical tests and analyze the results

Assess the Quality and Reliability of the Data
Consider if data source is:
Thorough in coverage
Detailed enough
Relevant
Up to date
Restrictive, e.g. confidentiality issues
Collected using appropriate methodologies
Accurate
Internally consistent
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Sort and Classify the Data
Sort data to eliminate material that is not needed and to classify similar types of data into meaningful categories
Identify trends and formulate preliminary conclusions
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Perform Statistical Tests and Analyze the Results
Analyze collated data using someone experienced in statistical analysis
Draw conclusions about what the research means
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FIGURE 6.1
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Sample Questionnaire

TABLE 6.1
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Sample Frequency Tabulation

Perform Statistical Tests and Analyze the Results, Continued
Coding Qualitative Data
Transcribe notes, interviews, recordings
Organize/sort out
Convert into coded numerical figures
Enter data into database
Identifying Types of Data
Nominal: categorized by name
Ordinal: data in which numbers have a meaning
Interval: rating items on a scale
Ratio: shows how respondents’ answers compare statistically with other respondents’ responses
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Adapted from TABLE 6.2
Comparison of Measures to Calculate Central Tendency
Measure How to Calculate Uses and Comments
Mean Add the value of each response and divide by the total number of responses
The mathematical mean is the average of a group of numbers. Most data provided by secondary sources is in the form of a mean or average figure.
Typically used to draw conclusions about the actions of a group
When calculated in units, multiply the mean by the total population size to estimate a total number of units (e.g. market size)
Mean can be skewed if some responses are much higher or lower than majority
Median, or the value of the middle term Arrange responses from lowest to highest and find the value in the middle, with one half of responses above and one half of responses below If extreme values exist, median can be a better measure
Mode, or the most frequent response Certain values might appear repeatedly in a data series; the mode identified the value or values that occur most often Mode is most useful to identify the most frequent amount, purchase or demand
Also useful where two definite categories of majority response

76
© Forum for International Trade Training (FITT)
Situational Analysis

Perform Statistical Tests and Analyze the Results, Continued
Sampling Error
Depends on the size of the population being studied
Depends on the variability of the characteristics
Usually gets smaller as the sample size increases
Can be accounted for and reduced using a sample gain
Statistical Significance
Significance testing indicates whether the difference between figures from different samples or sub-samples is a true difference or can be explained by chance fluctuations
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INTERPRETING DATA
Identify key findings and relate them to research objectives
Group data against objectives; identify patterns
Confirm accuracy and completeness of work
Check for bias

Present Conclusions and
Apply the Research
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7
STAGE
How research objectives relate to the business problem or question
Whether the findings were to be expected or whether they were surprising

Typical Written Report
Title page
Table of contents
Executive summary
Introduction
Identification of research objectives and methodology
Identification of strategic and tactical issues
Findings
Recommendations and action plan
Appendices
Bibliography
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FIGURE 6.2
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Presenting Numerical Data
PIE CHART Displaying Search Engine Market Breakdown in China by Revenue

FIGURE 6.3
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Presenting Numerical Data, Continued
SPIDER or TARGET CHART Showing Satisfaction with Online Supplier

FIGURE 6.4
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Presenting Numerical Data, Continued
BAR CHART Comparing Product Satisfaction by Country

FIGURE 6.5
Presenting Qualitative Data
FLOW DIAGRAM Showing a Manufacturing and
Distribution Process

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Conducting the Presentation
Objectives
Key findings
Method
Recommendations
Critical success factors

Ongoing Research and Global Market
Information Management Systems
To be truly useful, market research should be ongoing: systematic gathering of information informs decision making
Information management systems (IMS) help monitor external environment for emerging trends or events
Key factors affecting international marketing decisions:
Economic factors
Political-legal dimensions
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