...in the federal acquisition market. Market research is the continuous process of scientifically gathering, recording, and examining data about customers, competitors, and market conditions, to support organizations make superior business decisions about the improvement and marketing of new or prevailing products and services.Market research data can be used to figure the acquisition strategy, to decide the type and content of the product explanation or statement of work, to improve the support strategy, the terms and conditions encompassed in the contract, and the assessment factors used for source selection. Market research is important to boost the possible use of commercial items and services, and non-developmental items to meet organization needs.Market research, done initial in the acquisition process, also provides information about commercial observes that you can use to form the acquisition strategy, support and check plans, product description, evaluation factors, and much more.Market research has two stages: market surveillance and market investigation. Market surveillance is acontinuing process and includes all the activities that acquisition staffs perform continuously to keep themselves up-to-date of technology and product developments in their areas of proficiency and capability. Market investigation, which involves more broad research, is directed in response to a definite materiel need or need for services.The two categories of market research are primary research...
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...Week 4 DQ2 Using an undifferentiated targeting strategy in most cases is not a good idea. This is because it assumes all targeted customers are similar and have similar needs and motives; however this is clearly not always the case. In most cases, buyers are not a homogenous group. Every customer has his or her own individual needs, wants, and lifestyle. The undifferentiated targeting strategy ignores the undeniable differences between the distinctive market segments, and as a result, the product or service being marketed comes off generic and fails to resonate with the customers. The customers have a hard time identifying any clear advantages over competitor offerings. In addition, a lot of marketing funds and efforts can be wasted if the marketing message is not reaching the specific customers who would be interested in the product or service, or if the message is only reaching an audience that has little or no interest in the offering. These days, customers seem to be more particular about their preferences, so it is virtually impossible to cater to every customer’s individual conditions; therefore, undifferentiated targeting is not a good idea in most cases. A differentiated segmentation strategy is a strategy in which a firm targets several market segments, employing a separate and distinct offering for each segment. In contrast, a concentrated segmentation strategy involves selecting a single, primary target market segment and therefore means that the firm will focus all...
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...STRATEGIES FOR EMERGING MARKETS The class discussion started with the problems faced by the developing countries in the emerging markets and then the strategies to manage guarded globalization were discussed. In this present economic scenario, it is not easy for the companies of developing markets to get an easy hold in emerging markets. They have to face several hurdles and the major is the government and policymakers regulations. Pfizer’s patent problem in India and lowering of drug prices by the Chinese government to make more drugs local signify this. Increased population, rising salaries, modern transportation and communication technologies drove many developing countries towards emerging markets. But after global recession, emerging markets have resented towards guarded globalization. Governments are becoming wary of opening more industries to multinational companies and are concentrating more on protecting local interests. They chose the countries with which they want to do the business, pick the sectors in which they will allow the capital investment and promote state owned companies which they want to. They are being selective. A country’s political scenario has become crucial in deciding with which country they want to trade as financial services, telecommunication, information technology, food sectors have been politicized. At the same time, welcoming foreign investment in few sectors triggers nation-wide protests. In India, allowing FDI in retail was a big issue...
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...Chapter 9: Global Market Entry Strategies The need for a solid market entry decision is an integral part of a global market entry strategy. Entry decisions will heavily influence the firm’s other marketing-mix decisions. Global marketers have to make a multitude of decisions regarding the entry mode, which may include: * (1) The target product/market * (2) The goals of the target markets * (3) The mode of entry * (4) The time of entry * (5) A marketing-mix plan * (6) A control system to check the performance in the entered markets 1. Target Market Selection A crucial step in developing a global expansion strategy is the selection of potential target markets. A four-step procedure for the initial screening process: 1. Select indicators and collect data 2. Determine importance of country indicators 3. Rate the countries in the pool on each indicator 4. Compute overall score for each country 2. Choosing the Mode of Entry Decision Criteria for Mode of Entry: * Market Size and Growth * Risk * Government Regulations * Competitive Environment/Cultural Distance * Local Infrastructure Classification of Markets: * Platform Countries (Singapore & Hong Kong) * Emerging Countries (Vietnam & the Philippines) * Growth Countries (China & India) * Maturing and established countries (examples: South Korea, Taiwan & Japan) Key criteria for choosing entry modes: * Company Objectives ...
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...Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and Hard-Work!!! Win by fortune and...
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...traded at least for 30 months), report their average returns. 2. Construct zero-investment strategy. 3. Run CAPM model for this zero-investment strategy and report intercept and Beta, discuss their interpretation. 4. Find December to December returns for the KSE, Compare them with January to January returns. Contrarian Strategy and portfolio creation The Contrarian Strategy is based on the market anomaly commonly referred to as the reversal effect. The reversal effect states that over the long run, the stocks which had high returns will give lower returns, while the stocks which were giving lower returns will start to give higher returns. Therefore the contrarian strategy aims to capture the reversal effect, and take advantage of the losers, who start to give big returns to the investors. To form contrarian portfolios, the following steps have to be followed: 1. Download the monthly prices for all the stocks in the market. 2. Calculate the monthly returns of all the stocks in the market. This can be achieve by using a simple code as shows below: The logic of the code is that we put all the values of the market price in one variable and the market value of the stocks in the following month in another variable. Then the return formula is simply applied to give us the monthly returns of all stocks in the market. 3. Now we have to build our contrarian strategy. In our case we have construct portfolios based on the returns of the last 3 years, which taking...
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...* Topics to be discussed: * What is International Business Environment? * Changing Pattern of International Management * Major Elements Affecting International Business * International Business Environment * The international business environment can be defined as the environment in different sovereign countries, with factors exogenous to the home environment of the organization, which influences decision-making on resource use and capabilities. * It involves three environments such as domestic, foreign and international. * Domestic environment * composed of all the uncontrollable forces originating in the home country that influence the firm’s life and development. * Foreign environment * composed of all the uncontrollable forces originating outside the home country that influence the firm. * the kinds of forces are the same as those in the domestic environment but their values often differ and changes in the values of foreign forces are at time more difficult so assess. * International Environment * interactions between the domestic environmental forces and the foreign environmental forces AND * interactions between the foreign environmental forces of two countries when an affiliate in one country does business with customers in another. * The Forces: * environment: all the forces surrounding and influencing life and development of the firm; they can be external or internal * uncontrollable (external)...
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...Innovation in Emerging Markets: Strategies Used in India and China Ruan Y., Hang C.C., Subramanian A.M. No. 01/12 Division of Engineering & Technology Management (D-ETM) Institute of Engineering Leadership (IEL) Faculty of Engineering 1 Disruptive Innovation in Emerging Markets: Strategies Used in India and China Ruan Y., Hang C.C., Annapoornima M.S. Abstract The appropriate type of innovation which can meet the needs of the mass population in the bottom of pyramid (BOP) has not been studied much in the literature. Based on the theory of disruptive innovation, we offer 11 cases from India and China – the two biggest emerging markets to show that disruptive innovation could be an appropriate, feasible, and powerful innovation force to the companies and the economies involved. We also examined the R&D strategies used in these cases based on the framework proposed by Yu & Hang (2011) and found that 3 out of the 4 strategies commonly used in the cases from developed markets were also applied in the cases from emerging markets. In addition, we have identified 3 unique strategies which emerged from the cases from India and China, namely frugal engineering, modularization, and drastic manufacturing cost reduction. Based on the frequency of the usage of these strategies, we drew practical implications for local companies and multinational companies. Our study also provides critical insights to policy makers in emerging markets on the appropriate direction...
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...Case Study 3 LG Electronics: Global strategy in emerging markets Suggested case discussion questions Q1 Explain how LG’s experience within its domestic market (South Korea) influenced how it expanded into the BRIC emerging economies All MNCs are shaped, to some degree, by their domestic markets. In LG’s case, its emergence in Korea during the decades following the Second World War strongly affected its ability to expand into the BRIC economies. The domestic Korean market was highly competitive, which helped hone its ability to enact “come from behind” approaches in other locations as it was used to having to fight its way to the top. The Korean Government placed strong emphasis on R&D within LG’s home economy, which had a double-effect on it. First, the importance of high quality R&D enabling quick and effective localization of products and services was always central to its approach to expanding its presence within the emerging economies – this runs counter to much perceived wisdom that suggests emerging economies do not have infrastructure to support such a policy. Second, it built on its experience of working with governments, which it then displayed most effectively in Brazil. The Korean Government encouraged foreign direct investment which saw LG partner with Hitachi of Japan, again, allowing it to develop valuable partnership experience that would be brought to bear on joint ventures within emerging economies. Lastly, emerging within an economically...
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...one of the important element for any successful business because it is all about letting people know what is the products/services of the company and how do you persuade them to purchase your products/services. Marketing strategy is a process which allows a company to concentrate on its limited resources and increase its sales as the greatest opportunities ad achieve a sustainable competitive advantage. The key concept of market strategy is centered on the customer satisfaction as the main goal. A marketing strategy combines product development, promotion, distribution, pricing, management relationship and other element which identifies the company’s marketing goals and explains how marketing strategy determines the choices of target market segments, marketing mix, positions and allocation of resources. It is the most effective when it is an integrated component of all firm strategy by defining how company will successfully engage the customer’s prospects and competitors in the market arena. Market strategy is changing therefore we need a marketing strategy for each product. In this assignment we are going to develop a marketing strategy for a product Tanuf mineral water. The product is from the National Mineral Water Co. SAGOG. Was set up in 1979 with technical expertise from Evian France- world leaders in the field of national mineral water. ...
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...Market Strategy Market Objectives - The objectives we have set are our goals we intend to reach while promoting our product to potential customers. - Some of these goals include increasing sales. We intend to drive our business and increase sales. We expect the marketing we do to have a good return on investment. - We intend to “Improve product awareness” * By creating a website (Most companies do their business online) * Having a social media presence (Websites such as Facebook have over 1 billion users) * Advertise using traditional methods such as ads, commercials and radio. * Having displays (Providing our customers with a hands on experience) * Establish ourselves in the industry (becoming a well-known brand) * Having good Brand Mgmt. (Establish a good relationship with our customer Target Market We plan to target numerous groups of consumers. A) Elderly (Our product will have features such as a 911 assistance program) B) Parents (Our product will include an audio monitoring device for childern) C) “Survivalist” (Features that may come in handy during a catastrophic event) Positioning * We will create an image for our product based on the intended target markets. * Establish a target market analysis (Gaining thorough knowledge of our product and its intended market) * Positioning in advertisement (match our advertising to make sure it relates to our intended target market) * Positioning in sales locations (Make...
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...To successfully bring a product to its target market a strategy for implementing the product. Therefore four basic components, referred to as the marketing mix, are necessary. These components are product, pricing, place and distribution. (Griffin & Ebert, 2013, p 275) A product can either be a good (tangible) or a service (intangible), an idea or some a combination (Ferrell, Hirt, Ferrell, 2014, p. 353-354). A product needs to satisfy a need/want of people, in order to make them exchange their money for it and become customers. Of course there are mostly more than one product available to satisfy customer’s needs. So it’s vital to distinguish the product from its competitors, e.g. by product differentiation. Pricing focuses on finding the profitable middle between covering all product costs (production, marketing, advertising, etc.) and competitive pricing. Place means how the product is going to be distributed from the producer to the consumers. Thus, decisions about where to sell (e.g. retail store, online) and distribution channels (direct or indirect) have to be made. (Griffin & Ebert, 2013, p 276) Promotion finally is a form of communication between a company and (potential) customers. The goal of promotion is to increase sales by influencing individuals or groups, etc. to accept a product (Ferrell, Hirt, Ferrell, 2014, p. 354-355). Promotion can also be used “to influence opinions and attitudes toward an organization, person, or cause”. Promotion is not just a single thing...
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...Target Market Strategy Market-Entry Timing, and Marketing Strategy In addition, in thе third part, thе author analyѕе how L’Orеal followѕ a nеw product dеvеlopmеnt ѕcrееning procеѕѕ. Thе ѕix ѕtagеѕ involvеd in N.P.D will bе talkеd about in thiѕ part, еѕpеcially thе Idеa Ѕcrееning procеѕѕ to ѕhow how L’Orеal’ѕ nеw productѕ can offеr a clеar bеnеfit and provе itѕеlf accеptablе in uѕе. Importance of developing new products for L’Oreal Drivеn by conѕumеr dеmandѕ and with thе dеvеlopmеnt of nеw tеchnology, many companiеѕ havе to bring ѕomе nеw productѕ to thе markеt, if thеy want to rеmain thеir compеtitivе advantagе and ѕuѕtain thе profitablе growth. That iѕ why nеw product dеvеlopmеnt can bеcomе thе moѕt important buѕinеѕѕ procеѕѕ. In thiѕ L’Orеal caѕе, innovation iѕ itѕ driving forcе, in tеrmѕ of both tеchnology and faѕhion, L’Orеal haѕ invеѕt ѕo much in innovation, innovation iѕ quitе important and еѕѕеntial to L’Orеal which wantѕ to kееp continuouѕ growth and pеrform wеll in thе global markеt, and thеrе arе many formѕ of innovation, nеw productѕ and ѕеrvicеѕ arе onе aѕpеct of thеm, it iѕ vеry important for L’Orеal to know how to idеntify innovation opportunitiеѕ and tranѕform ѕomе good and uѕеful idеaѕ into nеw product dеvеlopmеnt. Thеrе arе ѕеvеral itеmѕ to conѕidеr about why L’Orеal haѕ to dеvеlop nеw productѕ. Customers Bеcauѕе N.P.D iѕ a Cuѕtomеr-Drivеn Procеѕѕ. Ѕo a diѕcuѕѕion of cuѕtomеr nееd analyѕiѕ iѕ nеcеѕѕary. Gеnеrally ѕpеaking, N.P.D...
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...Market Segmentation Market segmentation is the division of a market into distinct groups of buyers who might require different products or marketing mixes (Kotler et al, 1994). It is the division of a heterogeneous market consisting of buyers with different needs and wants, into homogeneous segments of buyers with similar needs and wants. Therefore, the segments are heterogeneous between (ie. all the segments are different, eg. one segment all males, one segment all females) themselves, but homogeneous within (eg. within the male segment, all buyers are male; within the female segment, all buyers are female). Segmentation is important as buyers have unique needs and wants. In segmenting a market, marketers look for broad classes of buyers who differ in their needs. There is no one right way of segmenting markets. A marketer has several bases available to him/her for the segmentation of markets. Bases for Segmenting Consumer Markets Segmenting markets on the basis of geography involves dividing the market into different geographical units, eg. states, regions, countries, where the company pays attention to geographical differences in needs and wants. For example, there may be a greater need for T-shirts in the Northern part of Australia all year round rather than in the Southern part. Demographic segmentation involves dividing the market into groups based on demographic variables such as age, family size and life cycle, occupation, etc. It is the most popular bases...
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...value-creating steps occur in tight sequence so the product will flow smoothly toward the customer. 4. As flow is introduced, let customers pull value from the next upstream activity. 5. As value is specified, value streams are identified, wasted steps are removed, and flow and pull are introduced, begin the process again and continue it until a state of perfection is reached in which perfect value is created with no waste. KAIZEN What is Kaizen? Kaizen is the practice of continuous improvement. Kaizen was originally introduced to the West by Masaaki Imai in his book Kaizen: The Key to Japan’s Competitive Success in 1986. Today kaizen is recognized worldwide as an important pillar of an organization’s long-term competitive strategy. Kaizen is continuous improvement that is based on certain guiding principles: * Good processes bring good results * Go see for yourself to grasp the current situation * Speak with data, manage by facts * Take action to contain and correct root causes of problems * Work as a team * Kaizen is everybody’s business * And much more! One of the most notable features of kaizen is that big results come from many small changes accumulated over time. However this has been misunderstood to mean that kaizen equals small changes. In fact, kaizen means everyone involved in making improvements. While the majority of changes may be small, the greatest impact may be kaizens that are led by senior management as transformational...
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