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IB 346
Exam 2
| Question | Answer |
|---|---|
| Unisys corporations planning 5 steps for collecting and assessing following types of info | 1. Economic 2. Cultural, Sociological, and Political Climate 3. Overview of market conditions 4. summary of the technological environment 5. competitive situation (these are all uncontrollable factors) |
| Six steps in conducting global market research | 1. Define research problem 2. develop a research design 3. determine info needs 4. collect the data (primary and secondary) 5. analyze the data and interpret the results 6. report and present the findings of the study |
| Major challenges faced by global marketing researchers | 1. complexity of research design due to env'l differences 2. lack and inaccuracy of secondary data 3. time and cost requirements to collect primary data 4. coordination of multicountry researchefforts |
| Research Problem Formulation | 1. In an int'l context the marketing research problem formulations is hindered by the self reference criterion (SRC) 2. omnibus surveys are regularly conducted by research agencies |
| Qualitative Research (exploratory, clinical, phenomenological) | Exploratory: to generate scientific constructs, typically for quantitative research Clinical: to use judgements w/o numerical measurement, generates "quasi scientific" knowledge Phenomenological: to gain understanding of the errday experienceoftheconsum |
| Types of Primary Data: (nominal, ordinal, interval, ratio) IMPORTANT | Nominal: only provides a label or identification Ordinal: rank order info, but not equal categories Interval: equal categories are provided, but not natural 0 Ratio: highest quality, equal categories and an absolute 0 point |
| Types of Primary Research (exploratory, descriptive, casual) | Exploratory: defines relevant dimensions Descriptive: observes and describes phenomena Casual: examines cause and effect relationships |
| Emic vs. Etic Dilemma | Emic approach: focuses on the peculiarities of each country Etic approach: emphasizes universal behavioral and attitudal traits In cross cultural market reseach, etic is preferred |
| The Research Process | 1. define problem, establish objectives 2. determine sources of info 3. consider costs and benefits 4. gather relevant data 5. analyze, interpret, and summarize 6. communicate results |
| OECD | organization for economic cooperation and development |
| Who is prone to more optimism in there data findings? | Less developed countries! willing to fudge reports to get help from other countries |
| The availability and accuracy of recorded secondary data do what with the level of economic development? | INCREASE! |
| Structured vs. Unstructured primary data | structured: yes or no format, can be summarized into a statistic, used with mainly quantitative data unstructured: wants to hear the thoughts and feelings, used more with qualitative data |
| Problems in int'l marketing research | 1. Stem from differences among countries 2. inability or unwillingness to communicate opinions 3. inadequacies in questionnaire translation |
| What is the most universal survey research problem in foreign countries? | Language barrier |
| What is required to assess current product demand and forecast future demand? | reliable historical data |
| Two methods of forecasting demand | Expert opinion: asking experts, triangulation: comparing estimates produced by dfft sources Analogy: Assumes that demand for a product develops in much the same way in all countries as comparable economic development occurs in each country |
| The foreign market researcher must posses three talents to generate meaningful marketing information | 1. researcher must have high degree of cultural understanding of the place they're at 2. creative talent for adapting research methods is necessary 3. skeptical attitude when gaining primary and secondary data is helpful |
| Decision Makers for Research | decision makers should be directly involved. culture can always be garbled |
| What are the 3 crucial multinational markets | The Americas, Europe and Asia |
| Which way is it difficult to travel, and what is that called? | Eastward- Desynchronization |
| Stages of Economic Growth | 1. Affects the attitudes towards foreign bus. activity 2. demand for goods 3. distribution systems found w/in a country 4. The entire mtg process |
| Static vs. Dynamic Economy | Static: consumption patterns are rigid Dynamic: consumption patterns change rapidly |
| Economic Development | an increase in the average per capita GDP, and implies a widespread distributed of increased income. economic devp'mnt also means rapid economic growth and increases in consumer demand |
| MDC | more developed countries- canada, england, france, germany, japan, u.s |
| LDC | less developed countries- asia and latin america |
| LLDC | least developed countries- central africa and asia |
| NIC | newly industrialized countries- chile, brazil, mexico, south korea, singapore and taiwan |
| NIC | countries experiencing rapid economic expansion and industrialization. moved away from restrictive trade practices |
| Economic growth factors for NIC's | political stability economic and legal reforms entrepreneurship planning outward orientation- if it is focused on exports industries targeted for growth |
| What is the most fundamental objective of most developing countries? | Industrialization |
| Infrastructure | Infrastructure represents those types of capital goods that serve the activities of many industries such as paved roads, railroads, seaports, etc. |
| The less developed a country is... | ...the less adequate the infrastructure is for conducting bus. |
| Marketing is the economy's arbitrator between what two things? | Productive capacity and consumer demand |
| What 2 areas must marketers look at when evaluating potential in a developing country? | 1. Level of market development: marketer must evaluate existing level of market development and receptiveness 2. Demand in developing countries |
| Demand in developing countries- 3 distinct kinds of markets | 1. Traditional rural/agricultural sector 2. Modern urban/high income sector 3. Transitional sector- usually represented by low income urban slums |
| BEM | Big Emerging Markets: imports more than smaller markets |
| NAFTA | North American Free Trade Agreement: canada, mexico, u.s. Effective in 1994. tariff barriers dropped in 2008 |
| DR-CAFTA | Central American Free Trade Agreement, Dominican Republic Free Trade Agreement: Costa Rica, Dominican Republic, El Salvador, Guatelmala, Honduras, Nicaragua, and U.S |
| MERCOSUR | Southern Cone Free Trade Area: Argentina, Bolivia Brazil, Chile, Paraguay, Uruguay |
| What happens when income rises? | New demand is generated at all income levels: from soap to cars |
| Foreign marketers must be able to do what 2 things | 1. Rapidly react to market changes 2. Anticipate new trends within constantly evolving market segments that may not have existed as recently as last year |
| What does a successful economic union need? | Requires favorable economic, political, cultural and geographic factors as a basis for success |
| LAFTA | Latin American Free Trade Association |
| Geographic and temporal poximity | Recent research demonstrates that differences across time zones are more important than physical distances |
| Regional cooperation groups | gov't's agree to participate jointly to develop basic industries beneficial to each economy |
| Customs Union | 1. Enjoys free trade area's reduced or eliminated internal tariffs 2. Adds a common external tariff on products imported form countries outside the union |
| Common Market | 1. Eliminates all tariffs and other restrictions on internal trade |
| Which 2 new political unions came into existence in the 1990s? | 1. The Commonwealth of Independent States (CIS) 2. The European Union (EU) |
| European Integration | 1. EU has made progress toward achieving the goal of complete economic integration/political union 2. had to deal with language and cultural differences 3. overall successful |
| EU- 3 legal instruments | 1. regulations binding the member states directly and having same strength as national laws 2. directives also binding the member states but lets them choose means of execution 3. decisions addressed to a gov't/enterprise/individual binding parties |
| What are the EU institutions | 1. European Commission: supervises executions of laws and policies 2. Council of Ministers: decision making body 3. European Parliament: amend and adopt legislation 4. European Court of Justice: passing judgements on points of EU law |
| EMU | Economic and Monetary Union: established the Euro. |
| The Euro | 7 notes (paper money) 8 coins |
| Expansion of the EU | 10 new countries were added in 2004 and as of today there are 27 countries with more than 4 awaiting membership |
| Eastern Europe | The Czech Republic is doing the best than the other eastern european countries; yugoslavia plagued with ethnic violence |
| CIS | Commonwealth of Independent States: formed against Gorbachev and USSR. It is a loose economic and political alliance with open borders but no central gov't |
| Africa | The efforts of the UN to bring economic integration has been hampered by gov't'l inexperience, undeveloped resources, and labor problems |
| Middle East | Middle East has been less aggressive in the formation of successfully functioning multinational market groups- lots of border disputes |
| GAFTA, ECO, OIC | Greater Arab Free Trade Area, Economic Cooperation Org., Creation of the Org of the Islamic Conference |
| What is the initial aim of a multinational market? | Protect businesses that operate within its borders |
| BOPMs | Bottom of the pyramid markets |
| The Greater China | Refers to: PRC- people's republic of china and ROC- republic of china (taiwan) |
| ROC | The ROC was one of the founding members of the UN in 1945, but the PRC was recognized into the UN in 1971 |
| Relationship between ROC and PRC | politically and militarily difficult/dangerous. trade has eased the tension between china and taiwan |
| PRC | has a dual economic system (socialism and capitalism). has produced an economic boom |
| What 2 major events that occurred in 2000 had a profound effect on China's economy? | 1. Admission to the WTO 2. US granting normal trade relations (NTR) to China on a permanent basis (PNTR) |
| Hong Kong | After 155 years of British rule, hong kong reverted to china in 1997, when it became a special administrative region of the PRC |
| SAR | Special Administrative Region |
| Taiwan, The ROC | Taiwan companies have invester over 50% billion in china. TRADE HELPS OUT BOTH COUNTRY'S |
| Japan | Was having strong growth that stopped abruptly. Couldn't recover from 1990's crash. Aren't risk takers. |
| India: 5 point agenda | 1. Improving investment climate 2. Developing WTO strategy 3. Reforming agriculture 4. Eliminating red tape 5. instituting better corporate governance |
| Four Asian Tigers | Hong Kong, Singapore, South Korea, Taiwan First countries in Asia, after Japan, to move from developing countries to NIC's |
| BOPMs | It consists of the 4 billion people who get paid <$2/day. Ignored by int'l marketers bc of misconceptions |
| ASEAN, ASEAN+3 | Association of South East Asian Nations, the +3 are ministers from China, Japan and South Korea (IMPORTANT) |
| Four regional economies from the north to the south of the country, along the Pacific Coast: | 1. Northeast China- Industrial heartland 2. Beijing-Tianjin- information technology corridor 3. Yangtze River Delta 4. Pearl River Delta |
| Northeast China | industrial and technological center of the country. 1. Lianoning- closest economic ties with Japan 2. Jilin- houses many north koreans 3. heilongjiang- capital city is called "little moscow" |
| Tianjin | 3rd largest industrial city after Shanghai and Beijing |
| Shenzhen | borders Hong Kong and leads the local economy in Pearl River Delta |
| Differences in Business Negotiating Styles | NE: industrial, honest, lack of creativity and risk Beijing: like NE Shanghai: outgoing, big talkers/spenders, creative, successful Pearl River Delta: entrepreneurship, spontaneity, honest Hong Kong: adept with British culture humble Taiwan: conserva |
Created by:
nblumenfeld
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