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1、Market Research and Export PromotionExport Marketing PlanThe marking plan is the basis on which all the overseas promotion is formulated. To devise the marketing plan involves reconciling the export strategies and objectives of the manufacturer into marketing terms.The marketing plan embraces many e
2、lements including market research project, promotion/advertising details, products involved and their quantity available, distribution arrangements and total volume/value of goods Where relevant, various costing information should be included, particularly the research and advertising budget. Overal
3、l; the plan must be realistic and should have a clear sense of purpose and directionExport Market ResearchBefore making goods for a new overseas market, as in the home trade, it is necessary to discover first of all if the goods can be sold profitably in that market. To answer that question is one o
4、f the objects of market research. Export market research, in particular, is a study of a given market abroad to determine the needs of that market and the methods by which the products; can best be supplied. It may be carried out to determine:1. If a new product likely to find a market.2. Whether an
5、 established product is likely to meet with a good demand in a new market.3.Why sales of a product have declined, either generally or in a certain area Here, in this chapter is laid on the first point: Market research is vital to success in overseas Markets To look for a suitable market an exporter
6、must consider, for example: 1.Political and Economic Conditions Countries with different political and economic systems take different attitudes toward foreigntrade business.Their policies and regulations concerning import and export，foreign exchange control，customs, duties and other tariffs will gr
7、eatly affect the suitability for a new market.2.Physical and Climatic Conditions The suitability of his products: heavy clothing is not worn in hot climates; mountaineering equipment would not be in demand in a flat country.3. Social Conditions If there is a low standardof living with poor wage leve
8、ls, there nay be no market for television sets or cars or luxury products. It may be desirable, even necessary,for price lists and sales promotion literature to be translated into a local language,with local units of measurement and currency. If there is high level of illiteracy,advertising matter m
9、ay need to be in. pictures and symbols rather than in words.4. Traditions and Customs Habits of work and play and dress may affect the goods bought. Imported cricket, baseball ortennis gear would not sell in a country where these games are not playedReligion may also affect the situation certain foo
10、ds may not be eaten on religious grounds. 5.Existing Products and Structure of Trade If there is a satisfactory 1ocally-made product at an acceptable price, there till be no sale for an imported one. Attention mast be given to sizes of products and to the suitability of packaging.If machinery is to
11、be sent to a certain area. It will be necessary to enter after-sales service.Some estimates of the efficiency of local agents should be obtained beforehand.6: The Legal Aspect Attention should be paid to such matters as safety regulations for vehicles and machinery; left or right hand drive for cars
12、; restriction on the sale of drugs; and any import quotas that exist. Certain goods may be subject to heavy duties, making it possible for the exporter to compete with foreign producers.Procedure, in a Market Research Investigation First and foremost, researchers should have a clear idea of what the
13、y are trying to accomplish in a research project that is the goal of the project. Usually the objective is to solve a program. A breakdown of the problem into parts that can be hand1ed by research results in the following specific questions:1.What is the market demand for such a product? 2.What prod
14、uct features are desired, such as push button tuning or signal-seeking tuning for an FM auto radio?3. What channels of distribution should be used for such a product? 4. What should its price be?To solve these questions; sufficient information is needed. The researcher has to plan where and how to g
15、et the desired information and data.Select the Sources of Information Primary data, secondary data or both can be used in an investigation. Primary data are original data gathered specifically for the project .at hand. Secondary data have already been gathered for some other purpose. For example; wh
16、en researchers stand in a supermarket and observe. Whether people use shopping lists, they are collecting primary data. When they get information from the Census of Population, they are using a secondary source. One of the biggest mistakes made in market research is-to collect primary data before ex
17、hausting the information available in secondary sources. Ordinarily, secondary information can be gathered much faster and at far less expense than primary data. Sources of Secondary dataUsually, this simply involves a study/evaluation of public/trade statistics and reports/surveys. Several excellen
18、t, readily available sources of such information are at the disposal of a market researcher. One such source, of course, is the multitude of records and reports within the firm itself: Outside the firm the major sources are as follows.1 Libraries Lest we forget, a good library is probably the best s
19、ingle, all :around sources of secondary information. It will contain publications from practically all the sources mentioned here.2. Government departments concerned also furnish marketing data.，These data are available at very low prices, even though there is a tremendous cost involved in collectin
20、g them. Also, the government has access under the law to types of information (company sales and profits, personal income, and the like) that are impossible for a private company to get. Tax records, license applications, and other registration systems furnish much of the information 3. Trade, Profe
21、ssional, and Business Associations Trade associations produce useful reports on their commodities and opportunities for the exporter. Many excellent trade publications keep the exporter informed constantly changing conditions in the overseas market and the legal and consular requirements abroad.Expo
22、rters may obtain information from banks,which nowadays From parts of a worldwide network of banking and are in a position to obtain information about market and the financial standing of foreign companies and agent in many parts of the world.The chambers of commerce too, have information available t
23、o their members on export markets, problems of distribution, foreign agents, tariff and other restrictions, and so on. 4. Private Business Firms Private marketing research firms, advertising agencies，and individual manufacturers and middlemen may be able to provide information needed by a researcher
24、. Companies such as the A. C. Nielsen Company (the. largest market research firm in the world) conduct various kinds of marketing research. Nielsen, for example,prepares a report showing how. Many households watched various television programs during a given week,5.Advertising Media Many magazines n
25、ewspaper and radio and television stations publish information that marketing researchers may not find available elsewhere.6. University Research Organizations Most large universities operate research bureaus and publish findings of value .to the business community.7. FoundationsNon-profit research
26、foundations and related groups carry out many kinds of research projects. Statistical analysis and. reports on special topics are often published, by them.Sources of Primary DataAfter exhausting all reasonablesecondary sources of information, researcher may still lack sufficient data.Then they will
27、turn to primary sources and gather the information themselves. In a company research project,for example a researcher may interview that firms sales people, middlemen,，or customers to obtain the pertinent market information Determine Methods for gathering Primary Data Before the data can be gathered
28、; the researchers must determine whom they are going to survey. Normally, it is unnecessary to survey every person who could shed light on a given research problem. it is sufficient to survey only some of these people if their reactions are representative of the entire group. That is they must plan
29、or establish a sample. The fundamental idea underlying the concept of sampling is as follows: If a small number of items (the sample) is selected at random from a larger number of items (called a universe), then the sample will have the same characteristics, and in about the same proportion as the u
30、niverseImproper sampling is a source of errors in many survey results In one study, an opinion. On student government was derived by interviewing a sample of fraternity and sorority members. With no dormitory students, off-campus residents, or commuting students: included, this was obviously a biase
31、d (nonrepresentative) sample of student opinion.There are three widely used methods of gathering Primary data :survey, observation; and experimentation: Normally,all three not used on one project.The choice of method will be influenced by the availability of time, money, personnel; and facilities.Su
32、rvey MethodA survey consists of gathering data by interviewing a limited number of，people (a sample) .selected from, a larger group. A survey has the advantage of getting to the original source of information. In fact; this may be the only way to find out the opinions or buying intentions of a，group
33、: However, the survey method contains certain inherent limitations: There are opportunities for error in the construction -of the sample (the number of interviewers selected) and of the survey questionnaire and in the interviewing process. Surveys may be very expensive, and they are time-consuming:
34、Another key weakness is that respondents often cannot or will not give true answers. The interviewing in the survey may be done by the researcher in person, by telephone, or by mail.1.Personal Interviews Personal interviews are more flexible than the other two types because interviews can alter the
35、questions to fit-the situation as they see it: Theyare able to probe snore deeply if an answer is not satisfactory. Ordinarily, it is possible to obtain more information by personal interview .than by telephone: or mail. Also, the interview can by observation; obtain data regarding the respondentsso
36、cioeconomic status-their home ,neighborhood, and apparent standard of living. The major limitations of this method of interviewing are its relative high cost, the length of time needed to conduct the survey, and the chance of introducing ,errors during the interviewing.2. Telephone SurveyIn a teleph
37、one survey, the respondent, is approached by telephone, and interview is completed at that time. Telephone surveys can usually be conducted more rapidly and at less cost than either personal or mail surveys. Tele: phone surveys are lees flexible than personalInterviews, but more flexible than mail s
38、urvey. Another significant advantage is that a telephone. survey -may be timely. For instance, people may be asked whether they are watching television at the moment and; if so, the name of the program and the sponsor. One limitation of the telephone survey is that interviews must be short: Lengthy
39、interviews cannot be conducted satisfactorily over the phone. 3.Interviewing by Mail Interviewing by mail involves mailing a questionnaire to potential respondents and having them return the completed form by mail. Mailed questionnaires ape more economical than personal interviews and are particular
40、ly useful in national surveys,Also, if the respondents remain anonymous, they are more likely to give true answers because they do not feel the need to impress the interviewer. A major problem with mail questionnaires is the Compilation of a good mailing list, especially for a broad-scale survey. If
41、 the sample can be drawn from a limited list, such as property taxpayers in certain counties or subscribers to a magazine, the list presents no problem.Another significant limitation concerns the reliability of the questionnaire returns, Particularly when the returns are-anonymous. If the respondent
42、s have characteristics that differentiate them from nonrespondents, the survey results will be invalid. Further,the questionnaire must be reasonably shorted the questions very simple; there is no to explain in a puzzling question. Ideally :Yes. or“No or prechoice type of :produces the best results.H
43、ere is an example:Questionnaire for MarketResearch onSmokingA. Do you smoke cigarettes? Yes/No (If No,terminate)B How. many do you smoke a day?C. What size of cigarette do you smoke ? Mini ,Standard ,LargeD. Do you smoke filter tips.? Yes/No E. Do you smoke menthol cigarettes?一Yes/NoObservational Me
44、thodIn the observational method, the data are collected by observing some action of the respondent: No interviews are involved, although an interview may be used as a follow-up to-get additional information. For instance,if customers are observed buying beer in cans instead of bottles; they may be a
45、sked; why they prefer that one form of packaging to the other.Information may be gathered by personal or mechanical observation. In one form of personal observation the researcher poses as a customer in a store. This technique is useful in getting information about the caliber of the -sales people，o
46、r in determining what brands they push. Mechanical observation is illustrated by an electric cord stretched across a high way to count the number一of cars that pass during a certain time period The observation method has several merits. It can be highly accurateOften it removes a11 doubt about what t
47、he customer does in: a given, situation. The consumers are unaware that they are being observed; so presumably they action theft usual fashion.The observation technique reduces interviewer bias. However, the possibility of bias is not- completely eliminated as long as people are used as :observers.
48、Another disadvantage is that the technique is limited in its application. Observation tells what happened; but it cannot tell why. It cannot delve into motives, attitudes,or opinions.Experimental MethodThe experimental method of gathering primary data involves the establishment of a controlled exper
49、iment that stimulates the real market situation as much as possible. The theory is that the small-scale experiment will furnish valuable information f tar designing a large scale marketing program.The experimental method may be used in several different ways. In one instance, a firm may manufacture a few units of a product and give them to employees or consumers to try out: Probably the