Market Research & International Business Opportunity

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Market Research & International Business Opportunity

  1. 1. Prof. Chandan Vichoray<br />B.E., MBA, Doctoral Thesis Submitted<br />ShriRamdeobabaKamla Nehru Engineering College, Nagpur<br />Market Research & identifying International Business Opportunity <br />1<br />
  2. 2. Introduction<br /><ul><li>Export – The buzz word
  3. 3. Biggest attraction: Revenue in Foreign Currency
  4. 4. Boosts Individual’s as well as Country’s Economy
  5. 5. The Outsourcing Mantra works in favour of exports
  6. 6. Thrust on Multi-Locational Businesses for Efficient Supply Chain
  7. 7. Boost through various Trade agreements and Trade Blocs reducing the effect of barriers</li></ul>2<br />
  8. 8. Why Market Research<br /><ul><li>A Scientific way of knowing the trends and probabilities of business growths
  9. 9. Fuels innovations that can sometimes effect a paradigm shift
  10. 10. Accelerated product life cycle
  11. 11. A way of beating competition for the initial time period
  12. 12. Faster market analysis through secondary data and information</li></ul>3<br />
  13. 13. An Approach to International Markets<br /><ul><li>Primary data collection a tough job
  14. 14. Hiring research agencies is going to be expensive
  15. 15. Initial approach through trading companies
  16. 16. Source of Market Research could be primary and secondary sources</li></ul>4<br />
  17. 17. Objectives<br /><ul><li>Internal
  18. 18. Vision
  19. 19. Competency
  20. 20. Resources
  21. 21. External
  22. 22. Competition
  23. 23. Environment
  24. 24. Institutions</li></ul>5<br />
  25. 25. Considerations for International Market Research<br /><ul><li>Competency
  26. 26. Resources
  27. 27. Competition
  28. 28. Environment</li></ul>6<br />
  29. 29. Competency<br /><ul><li>Manufacturing / Services
  30. 30. Specialty Products
  31. 31. Niche Areas
  32. 32. Capability Vs. Capacity
  33. 33. Approach and Credibility
  34. 34. Knowledge of International Markets</li></ul>7<br />
  35. 35. Resources<br /><ul><li>Primary Sources
  36. 36. Through Surveys
  37. 37. International Trade Fairs
  38. 38. Hiring international trade and marketing consultants
  39. 39. Talking with successful exporters of similar product
  40. 40. Secondary Sources
  41. 41. Private Sources like Libraries, Chambers of Commerce, Internship reports
  42. 42. Public Sources like WTO, IMF, World Bank, Asian Development Bank, Organization for Economic Cooperation & Development</li></ul>8<br />
  43. 43. Competition<br /><ul><li>Local Manufacturers / Service Providers
  44. 44. Concessions to local trade
  45. 45. FTAs arrangement with other countries for similar product / service
  46. 46. Known devil is better than an unknown angel</li></ul>9<br />
  47. 47. Environment<br /><ul><li>Political Environment
  48. 48. Economic Environment
  49. 49. Socio-cultural Environment
  50. 50. Technological Environment</li></ul>10<br />
  51. 51. Step-by-Step Approach to Market Research<br /><ul><li>Obtain export statistics indicating product exports to various countries
  52. 52. Identify 5-10 large & fast growing markets for the products
  53. 53. Identify smaller but faster-growing markets
  54. 54. Examine trends for the products / allied products that could influence demand</li></ul>11<br />
  55. 55. Step-by-Step Approach to Market Research<br /><ul><li>Ascertain sources of competition, including the extent of domestic industry production and other foreign companies
  56. 56. Analyze the Product mix
  57. 57. Identify trade barriers and plan accordingly</li></ul>12<br />
  58. 58. Indian Sources for Market Research <br /><ul><li>Director General of Commerce Intelligence & Statistics (DGCIS)
  59. 59. Department of Customs
  60. 60. Director General Foreign Trade (DGFT)
  61. 61. Tariff Commission
  62. 62. India Trade Promotion Organization (ITPO)
  63. 63. Indian Institute of Foreign Trade (IIFT)
  64. 64. Federation of Indian Chambers of Commerce & Industry (FICCI)</li></ul>13<br />
  65. 65. International Sources for Market Research <br /><ul><li>UN Statistical Year Book
  66. 66. World Bank Atlas
  67. 67. World Factbook
  68. 68. International Financial Statistics
  69. 69. World Population Profile
  70. 70. OECD Publications</li></ul>14<br />
  71. 71. Indian Free Trade Agreements<br /><ul><li>India-EU FTA
  72. 72. India-Japan FTA
  73. 73. Indian-Asean FTA</li></ul>15<br />
  74. 74. Case Study of Haldiram’s<br /><ul><li>An Indian Company in Snack food business
  75. 75. Started as a small shop in Bikaner
  76. 76. Began US Operations in 1993 first targeting the large Indian population
  77. 77. Lined up 15 products for the Indians</li></ul>16<br />
  78. 78. Case Study of Haldiram’s<br /><ul><li>Strategic Shift: Savouring the Indian delicacies in foreign country
  79. 79. A $4 Million Brand spread in UK and Middleeast also
  80. 80. 50 Countries Stock Haldiram’s
  81. 81. Tied up with companies like TESCO, Sommerfield, Sipneys and Carrefour
  82. 82. Initially surveyed for Indian population, got acceptance with the Foreigners also</li></ul>17<br />
  83. 83. Case Study of Haldiram’s<br /><ul><li>USP: Hygiene and Packaging thus retaining the freshness
  84. 84. Product highly successful is the KhattaMeetha whose sales have soared 112% since introduction
  85. 85. Export of KhattaMeetha is in excess of 125 tons annually
  86. 86. A healthy growth rate of 40% Year – on -Year</li></ul>18<br />
  87. 87. Product Mix of Haldiram’s<br /><ul><li>Includes Indian delicacies in the form of Snacks
  88. 88. Future plans include starting Indian Restaurants abroad making a full food Corporation
  89. 89. International business will include milk products and noodles localized as per the country</li></ul>19<br />
  90. 90. Distribution Mix of Haldiram’s<br /><ul><li>Through various retails across the countries like Carrefour and TESCO
  91. 91. Localized manufacturing planned with plants operating from the same country where business is planned
  92. 92. Short supplies arrangement using supply chain thus ensuring copious supply of products</li></ul>20<br />
  93. 93. References<br /><ul><li>Kumar Aseem, Export Import Management, EB
  94. 94. Henry Anthony, Understanding Strategic Management, Oxford University Press
  95. 95. P. SubbaRao, International Business, Himalaya Publications
  96. 96. Ball, McCulloch, Frantz, Geringer, Minor, International Business – The Challenge of Global Competition, Mc-Graw Hill </li></ul>21<br />
  97. 97. References<br /><ul><li>http://www.imriresearch.com/
  98. 98. http://www.fita.org/trade_info.html
  99. 99. Karamally Zak, Choosing to be Successful in Export Marketing, http://fita.org/aotm/0999.html
  100. 100. www.export.gov
  101. 101. www.unzco.com
  102. 102. www.infobanc.com
  103. 103. www.tradeindia.com</li></ul>22<br />
  104. 104. Questions???<br />23<br />Questions????<br />
  105. 105. Thank You<br />24<br />

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