netrashetty
Netra Shetty
Eastman Kodak Company (NYSE: EK) is a multinational US corporation which produces imaging and photographic materials and equipment. Long known for its wide range of photographic film products, Kodak is re-focusing[3] on two major markets: digital photography and digital printing.
Perhaps, the rapid growth of technological advancement in the society has brought people so much ease in all the things they do. Part of this technological advancement is the emergence of the Information System. Information System (IS) is often regarded as the unquestioned cornerstone towards competitiveness in the 21st century (Donthu & Garcia, 1999). These technological advancements have brought people to create a system that would be helpful in their everyday living. Furthermore, this development has made changes and development of the lives of people especially those in the working place. Within the working place, one of the most essential aspects to consider is to create a system that will be useful for different activities of the organisation.
The WiserSoft Company has decided to conquer the international market by exporting its WiserSoft product to the United Kingdom. Exporting, is the simplest form to be used when a company wishes to invade the international market which includes direct or indirect method such as using an agent, in the case of direct method and counter trade if the company opted to implement an indirect method.
Since, the technology has invading man’s working place the product that has been chosen to go international market is the office software. More and more organisation is trying its best to provide a system in order to help their stakeholders to assess with the organisations’ data projects. The role of the information system is very important in an organisation.
Hence, the WiserSoft Company was built and now will try to market its product by exporting. Since the companies in the United Kingdom are trying to use information system for their competitiveness, the company’s goal is to be well known in providing information system software in a working place. Primarily, the main mission of the company is to provide its target market with a tool that will assist them in their workload, more relationships with lesser effort, less personnel and less time with the best results. The main product of the company is the WiserSoft Office Automation. The company has developed the WiserSoft Office Automation in order to give an immediate response to application gap and produce a single integrated platform by combining its multiple applications to be able to provide an office organisation with model interdependent software tool and that this WiserSoft Automation will soon be out in the UK.
Proposed Research
In line with the plan of the company to export its good within the United Kingdom, it is important that the company would be able to conduct a marketing research first so that they will know whether their plan will help the company to be known in the international market or it will just be a cause for the downturn of the WiserSoft Company. The chosen topic is if it would be feasible that the WiserSoft Office Automation product of the Company can be exported to UK. The title of the research would be:
“The feasibility of using Exporting as a marketing entry strategy for WiserSoft Company to bring its products in the United Kingdom”
Possible Research Question
1. What is the concept of exporting as a marketing entry strategy?
2. Can WiserSoft Company utilize exporting in order for them to be known internationally?
3. What are the advantages of using exporting as a marketing entry strategy?
4. What are the disadvantages of using exporting as a marketing entry strategy?
5. What is the possible impact that WiserSoft Company would encounter in using exporting?
6. What are the perception of the employees and other stakeholder of WiserSoft Company regarding its decision of exporting their products in United Kingdom?
consumers are buying less, looking for deals, or switching to different brands, product categories, or stores. Some are even changing long-held attitudes toward consumption. To many folks, filling the home with more stuff or keeping up with the Joneses is no longer appealing.
As a result, the degree of uncertainty in business and consumer markets has soared. Yet, to conserve cash, most firms are reducing spending on the market research that would help manage that uncertainty. In the United States, spending on market research has dipped for four consecutive quarters, and chief marketing officers don't expect the situation to turn around soon. Most big consumer marketers are seeking to shave 10 to 20 percent off of research budgets.
In flush times, a rising tide of consumption can compensate for less than optimal branding, positioning, pricing, or segmentation. That is certainly not the case now. At the same time that marketers must pare down research expenditures, they face added pressure to secure high-quality data and insights.
I recommend that CMOs take the following seven steps to minimize the impact of reduced spending.
Stay focused. Savvy marketers focus their research on the products, brands, and markets that are key to their marketing strategy. In a recession, it's essential to get a clear read on existing core customers, including those who are most loyal to the brand and those who are most profitable, rather than fritter away research resources on potential or peripheral consumers. When times are good, there is budget available for increased research on secondary products or customers. Now, nice-to-knows that are not essential will have to wait.
Enlist trusted partners. Marketers and research suppliers who trust each other and have established long-term relationships can jointly plan how to extract more insights and make better decisions based on fewer expenditures. For example, combining data sets may reveal new leading indicators of changes in consumer behavior. Tracking studies may have an edge over one-off projects. CMOs who trim costs by consolidating their budgets with an integrated research supplier should insist that the supplier aggressively explore synergies across its various component agencies as well as eliminate research redundancies.
Value experience and judgment. CMOs should tap the knowledge and intuitions of managers and researchers who've lived through previous recessions. In setting prices, for example, such insight can help calibrate the optimal level of price promotion offers. Experience also reveals proxies: in tough times, some marketers use research results from Sweden as a proxy for Scandinavia, rather than conducting the same research in all Scandinavian countries.
Seize opportunities overseas. Some large multinational marketers, such as Unilever, are shifting research expenditures away from Western Europe and toward emerging markets in Asia and Latin America. Relative to the developed economies, the costs of research in emerging economies are less and the payoff from incremental insight can often be greater. Brand preferences and consumption levels in emerging markets such as China, India, and Brazil tend to be more fluid. Consumer research is therefore critical to aid marketers trying to cement brand preferences early on as these economies develop.
Go online with a dash of skepticism. Online research is cheap, fast, and the wave of the future. Tools like SurveyMonkey allow non-expert users to create custom surveys in minutes. As an alternative to offline focus groups, custom online panels of consumers can be formed for qualitative research on new product ideas or new ads. Taking the do-it-yourself approach rather than outsourcing to a market research firm is attractive in a cost-cutting era, but you risk getting no more than what you pay for. The opinions of convenience sample of an enthusiastic online brand community may not represent all users.
Perhaps, the rapid growth of technological advancement in the society has brought people so much ease in all the things they do. Part of this technological advancement is the emergence of the Information System. Information System (IS) is often regarded as the unquestioned cornerstone towards competitiveness in the 21st century (Donthu & Garcia, 1999). These technological advancements have brought people to create a system that would be helpful in their everyday living. Furthermore, this development has made changes and development of the lives of people especially those in the working place. Within the working place, one of the most essential aspects to consider is to create a system that will be useful for different activities of the organisation.
The WiserSoft Company has decided to conquer the international market by exporting its WiserSoft product to the United Kingdom. Exporting, is the simplest form to be used when a company wishes to invade the international market which includes direct or indirect method such as using an agent, in the case of direct method and counter trade if the company opted to implement an indirect method.
Since, the technology has invading man’s working place the product that has been chosen to go international market is the office software. More and more organisation is trying its best to provide a system in order to help their stakeholders to assess with the organisations’ data projects. The role of the information system is very important in an organisation.
Hence, the WiserSoft Company was built and now will try to market its product by exporting. Since the companies in the United Kingdom are trying to use information system for their competitiveness, the company’s goal is to be well known in providing information system software in a working place. Primarily, the main mission of the company is to provide its target market with a tool that will assist them in their workload, more relationships with lesser effort, less personnel and less time with the best results. The main product of the company is the WiserSoft Office Automation. The company has developed the WiserSoft Office Automation in order to give an immediate response to application gap and produce a single integrated platform by combining its multiple applications to be able to provide an office organisation with model interdependent software tool and that this WiserSoft Automation will soon be out in the UK.
Proposed Research
In line with the plan of the company to export its good within the United Kingdom, it is important that the company would be able to conduct a marketing research first so that they will know whether their plan will help the company to be known in the international market or it will just be a cause for the downturn of the WiserSoft Company. The chosen topic is if it would be feasible that the WiserSoft Office Automation product of the Company can be exported to UK. The title of the research would be:
“The feasibility of using Exporting as a marketing entry strategy for WiserSoft Company to bring its products in the United Kingdom”
Possible Research Question
1. What is the concept of exporting as a marketing entry strategy?
2. Can WiserSoft Company utilize exporting in order for them to be known internationally?
3. What are the advantages of using exporting as a marketing entry strategy?
4. What are the disadvantages of using exporting as a marketing entry strategy?
5. What is the possible impact that WiserSoft Company would encounter in using exporting?
6. What are the perception of the employees and other stakeholder of WiserSoft Company regarding its decision of exporting their products in United Kingdom?
consumers are buying less, looking for deals, or switching to different brands, product categories, or stores. Some are even changing long-held attitudes toward consumption. To many folks, filling the home with more stuff or keeping up with the Joneses is no longer appealing.
As a result, the degree of uncertainty in business and consumer markets has soared. Yet, to conserve cash, most firms are reducing spending on the market research that would help manage that uncertainty. In the United States, spending on market research has dipped for four consecutive quarters, and chief marketing officers don't expect the situation to turn around soon. Most big consumer marketers are seeking to shave 10 to 20 percent off of research budgets.
In flush times, a rising tide of consumption can compensate for less than optimal branding, positioning, pricing, or segmentation. That is certainly not the case now. At the same time that marketers must pare down research expenditures, they face added pressure to secure high-quality data and insights.
I recommend that CMOs take the following seven steps to minimize the impact of reduced spending.
Stay focused. Savvy marketers focus their research on the products, brands, and markets that are key to their marketing strategy. In a recession, it's essential to get a clear read on existing core customers, including those who are most loyal to the brand and those who are most profitable, rather than fritter away research resources on potential or peripheral consumers. When times are good, there is budget available for increased research on secondary products or customers. Now, nice-to-knows that are not essential will have to wait.
Enlist trusted partners. Marketers and research suppliers who trust each other and have established long-term relationships can jointly plan how to extract more insights and make better decisions based on fewer expenditures. For example, combining data sets may reveal new leading indicators of changes in consumer behavior. Tracking studies may have an edge over one-off projects. CMOs who trim costs by consolidating their budgets with an integrated research supplier should insist that the supplier aggressively explore synergies across its various component agencies as well as eliminate research redundancies.
Value experience and judgment. CMOs should tap the knowledge and intuitions of managers and researchers who've lived through previous recessions. In setting prices, for example, such insight can help calibrate the optimal level of price promotion offers. Experience also reveals proxies: in tough times, some marketers use research results from Sweden as a proxy for Scandinavia, rather than conducting the same research in all Scandinavian countries.
Seize opportunities overseas. Some large multinational marketers, such as Unilever, are shifting research expenditures away from Western Europe and toward emerging markets in Asia and Latin America. Relative to the developed economies, the costs of research in emerging economies are less and the payoff from incremental insight can often be greater. Brand preferences and consumption levels in emerging markets such as China, India, and Brazil tend to be more fluid. Consumer research is therefore critical to aid marketers trying to cement brand preferences early on as these economies develop.
Go online with a dash of skepticism. Online research is cheap, fast, and the wave of the future. Tools like SurveyMonkey allow non-expert users to create custom surveys in minutes. As an alternative to offline focus groups, custom online panels of consumers can be formed for qualitative research on new product ideas or new ads. Taking the do-it-yourself approach rather than outsourcing to a market research firm is attractive in a cost-cutting era, but you risk getting no more than what you pay for. The opinions of convenience sample of an enthusiastic online brand community may not represent all users.
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