(F) Chapter 4: Researching Foreign Markets Flashcards
It is important to study the unique culture of potential customers.
RESEARCHING FOREIGN MARKETS
Conducted to identify important parameters
usage of product, demographics, psychographics, legal & political norms
RESEARCHING FOREIGN MARKETS
Scope of researching Foreign markets
Customers in the foreign country
how will they react with foreign products?
Potential Customers
Parameter identified in researching foreign markets
Understanding the needs, wants, and preferences of the customers
Psychographics
Scope of Researching Foreign Markets
How would laws like import regulations or patents, copyrights, or trademarks affect your product?
Government Regulations
Scope of Researching Foreign Markets
checking whether the government has conflict and war
Political Climate
Scope of Researching Foreign Markets
observing the stock market in relation to new leadership figures (these can affect the stock market)
Political Climate
Scope of Researching Foreign Markets
Effects of the land transport system on the packaging, shipping, and distribution system of your export
Infrastructure
Scope of Researching Foreign Markets
what is available in the country vs. what your business needs
Infrastructure
Scope of Researching Foreign Markets
What are the generally accepted trade terms at both wholesale and retail levels?
Distribution Channels
Scope of Researching Foreign Markets
What are the normal commission and service agency charges?
Distribution Channels
Scope of Researching Foreign Markets
What laws pertains to distribution agreements?
Distribution Channels
Scope of Researching Foreign Markets
refers to considering the market leaders and distribution channels used
Competition
Scope of Researching Foreign Markets
Researching the market shares and price charges of other businesses/ventures
reworded(?) kc obv
Competition
Scope of Researching Foreign Markets
Understanding whether your product violates any cultural taboos
Local Customs and Culture
