Market Screening

Please select two non-US countries and one product or service and assess the potential for successful marketing in each foreign market, following the framework of Country Notebook

1. Cultural
2. Economic

(follow the framework below)

I. CULTURAL ANALYSIS

Guideline

I.Introduction

Include short profiles of the company, the product to be exported, and the country with which you wish to trade.

II.Brief discussion of the country's relevant history

III.Geographical setting

A.Location

B.Climate

C.Topography

IV.Social institutions

A.Family

1.The nuclear family

2.The extended family

3.Dynamics of the family

a.Parental roles

b.Marriage and courtship

4.Female/male roles (changing or static?)

B.Education

1.The role of education in society

a.Primary education (quality, levels of development, etc.)

b.Secondary education (quality, levels of development, etc.)

c.Higher education (quality, levels of development, etc.)

2.Literacy rates

C.Political system

1.Political structure

2.Political parties

3.Stability of government

4.Special taxes

5.Role of local government

D.Legal system

1.Organization of the judiciary system

2.Code, common, socialist, or Islamic-law country?

3.Participation in patents, trademarks, and other conventions

E.Social organizations

1.Group behavior

2.Social classes

3.Clubs, other organizations

4.Race, ethnicity, and subcultures

F.Business customs and practices

V.Religion and aesthetics

A.Religion and other belief systems

1.Orthodox doctrines and structures

2.Relationship with the people

3.Which religions are prominent?

4.Membership of each religion

5.Any powerful or influential cults?

B.Aesthetics

1.Visual arts (fine arts, plastics, graphics, public art, colors, etc.)

2.Music

3.Drama, ballet, and other performing arts

4.Folklore and relevant symbols

VI.Living conditions

A.Diet and nutrition

1.Meat and vegetable consumption rates

2.Typical meals

3.Malnutrition rates

4.Foods available

B.Housing

1.Types of housing available

2.Do most people own or rent?

3.Do most people live in one-family dwellings or with other families?

C.Clothing

1.National dress

2.Types of clothing worn at work

D.Recreation, sports, and other leisure activities

1.Types available and in demand

2.Percentage of income spent on such activities

E.Social security

F.Healthcare

VII.Language

A.Official language(s)

B.Spoken versus written language(s)

C.Dialects

VIII.A briefing on negotiation style (ours and theirs)

II. ECONOMIC ANALYSIS

Guideline

I.Introduction

II.Population

A.Total

1.Growth rates

2.Number of live births

3.Birthrates

B.Distribution of population

1.Age

2.Sex

3.Geographic areas (urban, suburban, and rural density and concentration)

4.Migration rates and patterns

5.Ethnic groups

III.Economic statistics and activity

A.Gross national product (GNP or GDP)

1.Total

2.Rate of growth (real GNP or GDP)

B.Personal income per capita

C.Average family income

D.Distribution of wealth

1.Income classes

2.Proportion of the population in each class

3.Is the distribution distorted?

E.Minerals and resources

F.Surface transportation

1.Modes

2.Availability

3.Usage rates

4.Ports

G.Communication systems

1.Types

2.Availability

3.Usage rates

H.Working conditions

1.Employer-employee relations

2.Employee participation

3.Salaries and benefits

I.Principal industries

1.What proportion of the GNP does each industry contribute?

2.Ratio of private to publicly owned industries

J.Foreign investment

1.Opportunities?

2.Which industries?

K.International trade statistics

1.Major exports

a.Dollar value

b.Trends

2.Major imports

a.Dollar value

b.Trends

3.Balance-of-payments situation

a.Surplus or deficit?

b.Recent trends

4.Exchange rates

a.Single or multiple exchange rates?

b.Current rate of exchange

c.Trends

L.Trade restrictions

1.Embargoes

2.Quotas

3.Import taxes

4.Tariffs

5.Licensing

6.Customs duties

M.Extent of economic activity not included in cash income activities

1.Countertrades

a.Products generally offered for countertrading

b.Types of countertrades requested (barter, counterpurchase, etc.)

2.Foreign aid received

N.Labor force

1.Size

2.Unemployment rates

O.Inflation rates

IV.Developments in science and technology

A.Current technology available (computers, machinery, tools, etc.)

B.Percentage of GNP invested in research and development

C.Technological skills of the labor force and general population

V.Channels of distribution (macro analysis)

This section reports data on all channel middlemen available within the market. Later, you will select a specific channel as part of your distribution strategy.

A.Retailers

1.Number of retailers

2.Typical size of retail outlets

3.Customary markup for various classes of goods

4.Methods of operation (cash/credit)

5.Scale of operation (large/small)

6.Role of chain stores, department stores, and specialty shops

B.Wholesale middlemen

1.Number and size

2.Customary markup for various classes of goods

3.Method of operation (cash/credit)

C.Import/export agents

D.Warehousing

E.Penetration of urban and rural markets

VI.Media

This section reports data on all media available within the country or market. Later, you will select specific media as part of the promotional mix and strategy.

A.Availability of media

B.Costs

1.Television

2.Radio

3.Print

4.Internet

5.Social media

6.Other media (cinema, outdoor, etc.)

C.Agency assistance

D.Coverage of various media

E.Percentage of population reached by each medium

References:

Philip Cateora, John Graham, Mary Gilly, and Bruce Money (2020), International Marketing, 18th Edition, Irwin McGraw-Hill, ISBN-13:9781259712357

Answer rating: 100% (QA)

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