EBD482: Chapters 4, 5, & 6

Target Language or Knowledge:

Who uses the product (the end-user)? Reaching your product's potential is based on: A reactive market selection strategy: Two things that can be used to help determine a reactive market Two ways to determine which foreign markets should be successful for your company A line collector is A good indicator of market potential is past sales received from foreign markets because How do you determine where your competitors are selling Trade shows can be used to investigate your international sales potential The US Commercial Service International Buyer Program There can be pitfalls of a reactive market selection strategy such as An example of cultural differences limiting sales is A potential disadvantage of using a reactive selection process is Demographics as an indicator for a global assessment of your product's international potential Macroeconomics as an indicator for a global assessment of your product's international potential Foreign government policies such as, _________ can directly impact the potential for your international success. Environmental indicators for a successful global assessment of your product's international potential can be A country's harmonized code classification system can be an indicator for a successful global assessment of your product's international potential Industry-specific indicators for global assessment of your product's international potential can be useful in identifying Literacy rate, per capita income and distribution, and education levels are examples of GDP and GDP growth rates are examples of Import tariffs, labor practices and restrictions, and intellectual property rights protection are examples of Transportation and telecommunications are related examples of Imports by country - of goods from competing countries - is an example of Local branding, the number of competitors, and the concentration of suppliers are examples of Poor access to distribution or labeling requirements are examples of Tariffs are Ad valorem duty is When the word tariff is used, it implies CIF value A specific duty is Value added tax is Import licenses, quotas, and government testing are examples of An absolute quota A tariff-rate quota What is the ISO 9000 standard? What is a CE Mark? Arbitrary application of regulations, administrative non-transparency, prequalification of foreign firms, and standards requirements are examples of A good reference for researching tariff and nontariff barriers is When selecting indicators for marketing screening, a single source should be used because Developing indicators, converting the data into comparable indicators, weighting each indicator, and analyzing the results is and example of Original information collected specifically for a particular requirement is called Data collected that is based on information that already exists from third parties is called Language, infrastructure, and cultural are three main obstacles to collecting what type of data? Comparability, lack of current data, and cost of international of this type of data are three main obstacles to collecting This data collection service offers reports which provide targeted marketing research conducted by commerce department employees based in US foreign offices. Complementary product or industry substitution, national statistics substitution, ratio comparisons, and timeline comparisons are The single most important tool available to the global entrepreneur is At this agency,you can find data on geography, resources, population demographics, infrastructure, military, and economic indicators. The data available through this organization allows you to research up to date information on GDP, income share held by highest 20% and rural population. Countries track the import and export of commodities using these codes. The official site for US export and import data is.... This database tracks import and export activities for all countries on an annual basis. It is an international version of US Trade Online. A private company that offers select import/export activities of companies is...

companies, institutions, individuals, retail stores, direct from the distributor, catalogs computer scientists, logo makers, and the web designers wholesale distributors prioritizing opportunities against your resource constraints, time frame, and corporate goals the lifecycle of your product macroeconomic indicators places an emphasis on choosing markets that have already demonstrated success for your type of product allows the company to restrict the flow of products as it sees fit places emphasis on being proactive in selecting strategies for research past sales or competitive sales as indicators for potential markets reviewing past leads and attending trade shows industry indicators and consumerism reviewing past leads and attending trade shows examining the weather and demographics of the market reviewing participation in US Trade Shows and their company profiles aggressive foreign distributors looking for a new line to represent without regard to the real potential of your product in their market a consumption tax applied to products purchased by the consumer, regardless of origin a wholesale distributor who resells to other companies foreign buyers have done their own research and have determined your product is better than others foreign buyers only purchase products that have the appropriate life cycle for their geographical area foreign buyers will only purchase products that sell well look at their websites call and ask the chief marketing officer of the company contact the US Export Commission and look at their reports because you can examine participants profiles and talk to participants because you can review the list of attendees and determine who is from a foreign country because you can see which vendors talk to foreign participants pre-arranges meetings during trade shows between foreign visitors and potential US exporters allows exporters to pass out surveys to find out if companies are interested in purchasing US products permits foreign countries to buy samples of US products to test for marketing purposes only researching known indicators foreign governmental agencies invoking laws unknown to exporters US agencies not keeping up to date data cosmetics may not do well in markets where a society does not value beauty beef jerky may not do well in a vegetarian country both a and b your product's life cycle and entry into the new market your product's life cycle and how long the product lasts your product's life cycle and the foreign country's ability to maintain use of that product can be the characteristics of the consumer: individual consumer or a manufacturing consumer can be the consistency of the market growth can be the trends in tourism and potential local consumerism can be used to identify issues such as inflation, potential for economic recession, and currency stability can be used to focus on geographical units can be used to research the viability of the foreign market import controls, tariffs and regulations concerning the use of your products service barriers prioritizing opportunities against your resource constraints and corporate goals weather, geography, and infrastructure global warming, meteorological analysis of the area, and animal intervention GDP it can confirm existing demand for a product and establish trends, such as growing demand by indicating the purchasing power of the country it can allow the US Export Governance to obtain tracking statistics different risks and threats against your industry in specific countries that don't exist in others pricing trends for domestic components where your product's life cycle fits in demographic indicators macroeconomic indicators environmental indicators macroeconomic indicators industry specific indicators trade statistic indicators government policies industry specific indicators world trade organization policies environmental indicators tariff indicators government specific indicators trade statistics indicators past leads and attending trade shows confirming existing demand for a product and establishing trends, such as growing demand industry indicators environmental indicators trade statistics indicators nontariff barriers tariff barriers ad valorem tariffs taxes applied on imported goods applied to exports calculated based on volume of product tariffs calculated as a percentage of the value of the product tariffs calculated based on the cubic volume of the product is Latin for "buyer beware" import duties taxation without representation cost of goods plus insurance cost plus insurance plus freight carrier identified freight carrier inbound freight assessed on a per unit basis - independent of the value of the good assessed on a bulk shipment dependent on the value of the goods assessed on the market value of the product being sold a consumption tax applied to products purchased by the consumer, regardless of origin a tax placed on components of the product a tariff tax on goods that are consumables nontariff barriers tariff barriers tariffs calculated as a percentage of the value of the product restricts additional product from entering the country once the quota has been filled is a tariff calculated as a percentage of the value of the product restricts additional product from entering a country during a certain timeframe allows the product to enter the country after the quota has been reached at an increased tariff rate restricts additional product from entering a country during a certain timeframe restricts additional product from entering the country once the quota has been filled a group of nonindustry-specific quality assurance standards to be used by companies that supply goods and services internationally a country specific quality assurance standard to be used by companies that supply goods and services internationally an industry specific assurance standard to be used by companies that supply goods and services internationally it is used in all EU official documents and it is a manufacturer's declaration that the product complies with the essential requirements of the relevant European health, safety and environmental protection legislation, in practice by many of the so-called Product Directives it is used in all Canadian official documents and it is a manufacturer's declaration that the product complies with the essential requirements of the relevant Canadian health, safety and environmental protection legislation, in practice by many of the so-called Product Directives it is a document that contains proper etiquette for a specific country service barriers tariff barriers nontariff barriers Country Commercial Guide reports CE Mark documents unified commercial code it ensures the definition and measure are the same for all countries being researched it ensures proper billing for statistical data it ensures data integrity relative to tariff renewal a model for selecting foreign markets a model for calculating GDP a model for creating a country specific report primary data secondary data statistical data secondary data primary data statistical data primary data secondary data statistical data secondary data primary data statistical data customized market analysis N2N Solutions foreign trade pack analysis are tricks that can lessen the impact of data problems are methods of tracking inaccurate data sent in reports are methods of tracking poor harmonized codes www.export.gov www.foreigncommercial guide.com www.data.worldbank.org/indicator www.cia.gov stats.oecd.org globaledge.msu.edu data.worldbank.org bankofforeignexchange.net business.development.org harmonized codes product codes cem codes US Trade Online usatrade.census.gov US Import/Export Data Collection usimexdc.gov US International Competitive Information us.international.compet.gov UN Commodity Trade Statistics Database comtrade.un.org UN Foreign Trade Data foreign.trade.gov UN Statistical Analysis for Marketing unstat.marketing.gov PIERS Port Import Export Reporting Service IEC Data Import/Export Company Data GCDS Global Company Data Source