netrashetty
Netra Shetty
Pantone Inc. is a corporation headquartered in Carlstadt, New Jersey, USA.[1] The company is best known for its Pantone Matching System (PMS), a proprietary color space used in a variety of industries, primarily printing, though sometimes in the manufacture of colored paint, fabric, and plastics.
In October 2007, X-Rite Inc, a supplier of color measurement instruments and software, purchased Pantone Inc for $180 million
globalisation. Studies have defined globalisation as the union and interrelationship of systems of production and distribution of cultural differences among the diverse economic systems in the world. (Connell 2004, 78) Thus, the attempt to develop the economy is the primary thrust of countries to trade with other nations to satisfy both their self-serving ends. In the same regard, the mobility of capital between the countries make trading vital for the operations of any economic system. With such capital, economies are able to acquire both economic growth and economic development. Lam and Kwok (2001, 466) defined economic growth as “the process of growth in the total and per capita income, accompanied by a fundamental change in the institutional dimensions of the economy.” This means that along with the improvements in the potential of the economic features of the state, the state seeks to improve the social conditions for the state. On the other hand, states also encourage international trading because they seek to secure capital accumulation on a consistent level. (Hayami and Godo 2005, 85) This is basically what is characterised as economic development.
It has been established that states welcome any form of trading with other countries provided that they fulfil some self-serving interests. However, like any other endeavour, it is more likely that impediments and problems are to be expected in the process. Though there has been an established legal framework that deals with free trading in the global setting, states sometimes find a way to ratify protectionist policies to look after their local industries. Such policies could include the imposition of quotas, subsidies, tariffs, and other trade restrictions. (Ruggie, 1994, 2) Other barriers could also be seen in the existing legal frameworks that a particular country employs as a part of their responsibilities as members of a regional bloc or a different trade agreement.
IV. Domestic vs. International Marketing
The concepts of domestic and international marketing often fall under the need of companies of market research. More specifically, the two concepts tend to emulate the paradox on which London and Hart (2004) have established: internationalisation and localisation. Altogether, this is labelled as the native capability. Essentially, the relationship of international and domestic marketing reflects the need for companies to employ a comprehensive review of the existing market through a marketing mix applicable in the said market. To do so, companies tend to find features of the market to create a strategic fit that will complement the ends of the organisation. (Melawar and Saunders 1999, 583) This thus manifest the importance of the considering the social standards and social institutions of the local market before embarking on a serious internationalisation effort in terms of marketing.
Based on the discussions above, it shows that the two concepts actually work hand-in-hand for the organisation that seeks to operate in an international level. In the same account, it establishes the need for information before embarking on a head-on attempt to break-in to the international scene. For instance, Nachum and Wymbs (2005, 415) indicated that for companies to make the most of their operations overseas, they have to be aware of the competitive elements present like the competitive pricing schemes. Other information like the competitors and the reputation of their brands are also noted factors in the process. Upon cowing these information about the local market, the company seeking internationalisation thus have the capability to alter their strategy that will allow them to maximise their assets and take advantage of the weaknesses of their competitors.
lobal market research firm Synovate released today a survey revealing that advice from parents tops advertisements and blogs when Hong Kong consumers look for financial information.
Synovate surveyed almost 1,000 consumers to investigate the channels they place the most trust in for financial information and their attitudes toward financial management.
People from 20 to 64 years old were interviewed, representing the Post 80s generation (aged 20 to 29), Generation X (aged 30 to 44), and Baby Boomers (aged 45 to 64) segments in Hong Kong.
I save but do I really know how to manage my money?
The Synovate survey found that three-quarter of the respondents have a monthly saving habit, and 30% said they save money solely for the sake of saving.
Close to half of the Generation X in Hong Kong believe they have sufficient knowledge to manage their own finances, the group with the most confidence in taking care of their finances compared to the Post 80s and Baby Boomers groups.
Among the Post 80s segment particularly, 45% of people aged 20 to 29 said they don't know how to start to improve their wealth level for the future.
Forty-four percent of the Post 80s group said they require more investment and financial advice as they do not know which products are suitable for them; 41% tried to search for different investment / financial information, but said they don't quite understand it.
"The Post 80s group actively seeks investment and financial advice. They would like to improve their wealth but do not know how to start. This group of consumers is receptive and open to ideas, showing opportunities for diverse financial-related information channels," says Ivy Cheung, Executive Director of Synovate in Hong Kong.
Common across all age segments, the majority of people (60% and above) in Hong Kong believe that property purchase is a good investment.
Channels of trusted financial information
The top three channels most Hong Kong consumers believe in when seeking financial information and advice are from parents/ family members (50%), friends / peers (36%), and finance-related magazines and publications(31%).
While 16% believe in advertisement and 11% in blogs when they were asked if they trust and follow the investment/ financial advice from these channels.
"Compared to Generation X and Baby Boomers, people of the Post 80s are more open-minded in considering financial information provided from different sources, though there is a gender difference seen in this aspect," says Cheung.
"Young single males are more receptive and curious than females to different sources of financial information. Compared to young single females, males believe more in the information provided by their peers (51% male vs. 45% female), staff from financial institutions (41% male vs. 34% female), the Internet (40% male vs. 21% female), and advertisements (26% male vs. 16% female)."
"This is insightful for financial services companies targeting this younger group. Information provided by financial institutions' staff, advertising, and the Internet seem to be more effective for the Post 80s male and can be geared toward them. At the same time, financial institutions targeting these consumers should not rely on direct communications only. Education through those closest to them, such as family and peers, seems to be the most effective in reaching the ears of this younger segment."
In October 2007, X-Rite Inc, a supplier of color measurement instruments and software, purchased Pantone Inc for $180 million
globalisation. Studies have defined globalisation as the union and interrelationship of systems of production and distribution of cultural differences among the diverse economic systems in the world. (Connell 2004, 78) Thus, the attempt to develop the economy is the primary thrust of countries to trade with other nations to satisfy both their self-serving ends. In the same regard, the mobility of capital between the countries make trading vital for the operations of any economic system. With such capital, economies are able to acquire both economic growth and economic development. Lam and Kwok (2001, 466) defined economic growth as “the process of growth in the total and per capita income, accompanied by a fundamental change in the institutional dimensions of the economy.” This means that along with the improvements in the potential of the economic features of the state, the state seeks to improve the social conditions for the state. On the other hand, states also encourage international trading because they seek to secure capital accumulation on a consistent level. (Hayami and Godo 2005, 85) This is basically what is characterised as economic development.
It has been established that states welcome any form of trading with other countries provided that they fulfil some self-serving interests. However, like any other endeavour, it is more likely that impediments and problems are to be expected in the process. Though there has been an established legal framework that deals with free trading in the global setting, states sometimes find a way to ratify protectionist policies to look after their local industries. Such policies could include the imposition of quotas, subsidies, tariffs, and other trade restrictions. (Ruggie, 1994, 2) Other barriers could also be seen in the existing legal frameworks that a particular country employs as a part of their responsibilities as members of a regional bloc or a different trade agreement.
IV. Domestic vs. International Marketing
The concepts of domestic and international marketing often fall under the need of companies of market research. More specifically, the two concepts tend to emulate the paradox on which London and Hart (2004) have established: internationalisation and localisation. Altogether, this is labelled as the native capability. Essentially, the relationship of international and domestic marketing reflects the need for companies to employ a comprehensive review of the existing market through a marketing mix applicable in the said market. To do so, companies tend to find features of the market to create a strategic fit that will complement the ends of the organisation. (Melawar and Saunders 1999, 583) This thus manifest the importance of the considering the social standards and social institutions of the local market before embarking on a serious internationalisation effort in terms of marketing.
Based on the discussions above, it shows that the two concepts actually work hand-in-hand for the organisation that seeks to operate in an international level. In the same account, it establishes the need for information before embarking on a head-on attempt to break-in to the international scene. For instance, Nachum and Wymbs (2005, 415) indicated that for companies to make the most of their operations overseas, they have to be aware of the competitive elements present like the competitive pricing schemes. Other information like the competitors and the reputation of their brands are also noted factors in the process. Upon cowing these information about the local market, the company seeking internationalisation thus have the capability to alter their strategy that will allow them to maximise their assets and take advantage of the weaknesses of their competitors.
lobal market research firm Synovate released today a survey revealing that advice from parents tops advertisements and blogs when Hong Kong consumers look for financial information.
Synovate surveyed almost 1,000 consumers to investigate the channels they place the most trust in for financial information and their attitudes toward financial management.
People from 20 to 64 years old were interviewed, representing the Post 80s generation (aged 20 to 29), Generation X (aged 30 to 44), and Baby Boomers (aged 45 to 64) segments in Hong Kong.
I save but do I really know how to manage my money?
The Synovate survey found that three-quarter of the respondents have a monthly saving habit, and 30% said they save money solely for the sake of saving.
Close to half of the Generation X in Hong Kong believe they have sufficient knowledge to manage their own finances, the group with the most confidence in taking care of their finances compared to the Post 80s and Baby Boomers groups.
Among the Post 80s segment particularly, 45% of people aged 20 to 29 said they don't know how to start to improve their wealth level for the future.
Forty-four percent of the Post 80s group said they require more investment and financial advice as they do not know which products are suitable for them; 41% tried to search for different investment / financial information, but said they don't quite understand it.
"The Post 80s group actively seeks investment and financial advice. They would like to improve their wealth but do not know how to start. This group of consumers is receptive and open to ideas, showing opportunities for diverse financial-related information channels," says Ivy Cheung, Executive Director of Synovate in Hong Kong.
Common across all age segments, the majority of people (60% and above) in Hong Kong believe that property purchase is a good investment.
Channels of trusted financial information
The top three channels most Hong Kong consumers believe in when seeking financial information and advice are from parents/ family members (50%), friends / peers (36%), and finance-related magazines and publications(31%).
While 16% believe in advertisement and 11% in blogs when they were asked if they trust and follow the investment/ financial advice from these channels.
"Compared to Generation X and Baby Boomers, people of the Post 80s are more open-minded in considering financial information provided from different sources, though there is a gender difference seen in this aspect," says Cheung.
"Young single males are more receptive and curious than females to different sources of financial information. Compared to young single females, males believe more in the information provided by their peers (51% male vs. 45% female), staff from financial institutions (41% male vs. 34% female), the Internet (40% male vs. 21% female), and advertisements (26% male vs. 16% female)."
"This is insightful for financial services companies targeting this younger group. Information provided by financial institutions' staff, advertising, and the Internet seem to be more effective for the Post 80s male and can be geared toward them. At the same time, financial institutions targeting these consumers should not rely on direct communications only. Education through those closest to them, such as family and peers, seems to be the most effective in reaching the ears of this younger segment."