FITTskills FITTskills International Trade International Trade Research Research Sixth Edition Sixth Edition
FITTskillsFITTskills International Trade International Trade
ResearchResearchSixth EditionSixth Edition
TR Ch 1-2
Course objectivesCourse objectives
• Describe the importance of well-planned and efficient research for guiding and promoting company activities.
• Develop research objectives that are compatible with corporate business objectives.
• Select suitable methods of acquiring data.
• Analyze and present researched data effectively.
• Based on research information, identify and evaluate international trade opportunities.
The Importance of The Importance of International Trade International Trade
ResearchResearchIncreasing the chances of international Increasing the chances of international
business successbusiness success
TR Ch 1-4
The need for market The need for market researchresearch
Market orientedstrategic planning
Assess profitpotential for anew market
Identify risks associated with
new market
Develop businessstrategy in response
TR Ch 1-5
The need for market The need for market research research (continued)(continued)
Market researchis part of strategicplanning
Identify unstablemarkets
Identify issues that could result inbusiness loss
Help effectivedecision making
The need for market The need for market research research (continued)(continued)
• Helps to conduct a cost-benefit analysis to determine profitability of venture.
• Helps to identify both foreign risk as well as risk to domestic corporation, i.e. over extending resources. This can be identified through a SWOT analysis.
• Creates the business plan and the allocation of resources.
• Research is the tool to help make a decision.
TR Ch 1-6
TR Ch 1-7
The benefits of researchThe benefits of research
TR Ch 1-8
Applications of market Applications of market researchresearch
Develop a business plan
Make informeddecisions
Make a cost-benefitanalysis
Develop products and processes
Analyze issues
Identify newopportunities
Focus effort
Monitor performance
Research & strategic Research & strategic planningplanning
• Research is used to help management make decisions.
• The marketing research is an integral part of the strategic planning process.
• Without information strategies are nothing more than a guess.
TR Ch 1-9
Marketing research & Marketing research & SWOTSWOT
• SWOT: Strengths, Weakness, Opportunities, Threats.
• SWOT is an external and internal analysis of a company.
• Research helps to answer or determine the SWOT.
TR Ch 1-10
TR Ch 1-11
Important considerations Important considerations for international tradefor international trade
Legal issues Political andeconomicstability
PricingIntellectualpropertyissues
Business culture and
etiquette