What constitutes honourable marketing research?
Can you explain what constitutes good marketing research? Please.Answers: 1) Knowing who your target customer is.
2) Making sure you peddle to that potential customer
3) Eliminating your personal likes and dislikes of promotion.
A good example would be if you owned a store that sold audible range aids to people over 55 years antiquated. You would likely arrive at this age group by advertising on the Obit page within your local newspaper and by using a radio station that plays any Oldies or Big Band music. You are 35 and listen to rap and don't read a newspaper. Target your custoner, not what you one-sidedly like.
Which company is leasding No:1 surrounded by the industry of logistics can u explain me another subsequent 2 company?
this is for logistics information and sum personal details are also adding this cross-examineAnswers: DHL i think is the ascendant co., GATI, is the one that comes to my mind.
'What Pakistani marketers need to be competitive in local market?
Answers: Get products which are good products which are comepetitively priced against international products ( e.g from China )
The fading shadows of this century blossoms the dawn of a new millennium. A Millennium, which brings with it, new hopes, fervor, enthusiasm, opportunities and challenges. At Micro level, companies and individuals will strive to compete and avail new opportunities, explore new ideas and new products. The stage is set to break the shackles of certainty, and achieve the unachievable. The Macro front may witness countries performing to the best of their abilities and available resources. Performances instilled with creative instincts, professional enthusiasm, technological support and expertise, keen observation and adaptation. To top it all, these performances will be based upon a vision, a strong and clear-cut, vision.
In the midst of such performances, in the globally competitive arena, Pakistan faces strong challenges. It has all that it needs to compete in this competitive environment. All it needs now, is someone who can use its resources with wisdom, devotion and determination. Someone, believing in the true potential of Pakistan. In this paper, I will try and list a few areas of concentration, apply a few theories and give a few humble suggestions. This forum is open for all of those who care for, and believe in, Pakistan.
Global competition:
The global arena presents some strongly competitive forces. The West may show an aggressive stance through collaboration and consolidation. The European Union is there to safeguard their interests. United they stand against a much divided East. Then, there are other Unions and Groups of countries and states. They have formed an Alliance, a Cartel to attain a stronger position against their competitors. If one country lacks in some resource the other plugs in. Pakistan needs to consider the prospects of such strategic alliances and collaborations.
We may find two distinct competitive segments. The first, comprising of countries resourcefully developed with sound financial and technological backing. While the other, specifically focusing on emerging markets, comprises of countries progressing towards growth and development. At instances, there may appear to be another segment, a segment involving the under-developed countries showcasing their lusty resources and cheap labor.
Trading globally
A Country's economic development is more or less dependent upon its Trade. List of products being imported or exported? In which area/product does it maintain a competitive position? Intensity of Trade! Is it importing more than exporting or vice versa. Then, we must analyze the Customer Base. Who are they? Where are they? What is their respective financial standing and Trade Pattern? Countries throughout the world have adopted different trade policies and theories. Some, calling for an influencing governmental role, while others, limiting it.
Adam smith in his book, in 1776, 'The Wealth of Nations', said, "the real wealth consisted of the goods and services available to a country's citizens." In his theory of Absolute Advantage he said, "different countries produce some goods more efficiently than others." This, is where a country gets its competitive edge from, it focuses its resources in producing specialized goods and services, thereby securing an edge over its competitors and a dominant position in the overall International Market.
Smith and Ricardo gave favoring theories. According to them, these practices would lead producers to efficient production of goods. There are many economic theories available, dealing with Land -Labor Relationships, Labor-Capital Relationships, Factors-Production-Theory etc. Our analysis would be based on a recent study made by Michael E. Porter, under the title of, "The Competitive Advantage of Nations." It is one of the most highly regarded theories being applied in today's world.
Exports vs imports
Nowadays we hear a lot about deficits and surpluses. Exports or Imports both have their pros and cons. By exporting more we can make use of our excess capacity and reduce our opportunity costs. Bulk exports can reduce the cost per unit and help us attain economies of scale. Exporters can get high markup ratios from international markets as compared to their local, domestic shares. At the same time governments can also gain from these markup receivables. The cautious exporter may reduce his risk by spreading it over different demand conditions thereby, if demand of a particular item falls in one country it rises in another.
Imports on the other hand are not bad altogether. Through imports we can get cheaper and better quality goods. For example, Japan imports rice because, its locally produced rice is relatively more expensive. We can increase our supplies and make additions in our product line. By choosing the right mix, we can achieve a harmonious blend. Where, we get the fruits of both, the exports and the imports.
Factors, creating a difference
There are many factors that help and hinder in making a country competitively attractive. Some countries have access to natural resources or climatic conditions like Sri Lanka producing Tea and Rubber. In the same way Pakistan's overall climate is good for growing Cotton, Wheat, Rice etc. Natural Resources may also include certain acquired resources like, skilled labor, which can make that little bit of difference that hangs between a developed, and an underdeveloped country.
Technology, in today's business, occupies a prominent position, as products are becoming more and more sophisticated and economies of scale, all the more important. Creating efficiency in resource utilization is important. At the same time, favorable conditions are also necessary to meet your objectives. There are times, when a country's size play an important role in providing a variety of resources. In the same way economic sizes can be crucial to a country's exports. These are some of the factors involved in aiding and facilitating a country. In reality, however, there are hundreds of factors affecting either directly or indirectly. The law and order condition in Karachi can be a factor. In the same way rapidly changing governments and their policies can be another. These factors tend to create the foundation of all development and that is why we need to sharpen our focus on them.
'The Porter diamond
Porter, a Harvard Business School professor, conducted a comprehensive study of 10 Nations to learn about the factors leading to a Country's success; published in "The Competitive Advantage of Nations". He has introduced four key determinants of National Competitive Advantage termed as, 'The Porter Diamond'.
NECESSARY FACTOR CONDITIONS:
Factor conditions, involving inputs which are used in factors of production such as; Land, Labor, Natural Resources, Capital, Infrastructure. According to Porter, there are other factors too, vitally important in making a country, competitively strong. Porter calls them, 'Advanced Factors' (Communications infrastructure, skilled labor, research facilities and technological education). According to him basic factors such as land, labor, raw materials can easily be accessed and duplicated, it is the specialized factors, which create the difference and thus a competitive advantage.
For example, apples are most commonly grown in Balochistan and other tribal areas of Pakistan. Their produce is internationally competitive, not only in price but also in quality. They have introduced and adopted an appealing variety of apples. The only thing lacking, is a solid infrastructure. The resource needs protection from the Government. It needs hi-tech equipment for its packaging and polishing. It needs storage houses to save the freshness of this tender produce, and roads for a speedy and timely transportation. This is just one example, there are numerous other areas which need to be considered as favorable investment opportunities. We just need to pick the right ones. The Ones, giving us maximum returns. Try plugging these holes in!
LAB ASSIGNMENT: If we apply this to other countries we may find a pattern. Holland is world's top flower exporter because it maintains a list of sophisticated factors like, Research Institutions, Packaging, Cultivation and Shipping Infrastructure. Denmark, on the other hand, has hospitals concentrating on studies and treatments of diabetes and thus it exports Insulin. In Pakistan, we have agricultural institutes, Leather and cotton research centers. As regards the sophisticated labor needs, our planners and policy makers are trying to boost the country's computer literacy. Our recent government had been involved in giving incentives to companies for transferring technology so that our labor can have a hands-on experience of present day hi-tech equipment and machinery. To fulfill the need for a stronger communication infrastructure, heavy investments of time, money and efforts have been made. According to the '9th Five -Year Plan' an amount of Rs.100 Billion had been allocated for the development of new roads and highways. Pakistan is in dire need of a new port. In this regard International Consultants have conducted a feasibility study for the 'Gavader' deep-water port. It is high time for Pakistan to grow strong from inside and face the hostile challenges of the outside world.
PAKISTAN'S DILEMMA: Pakistan is blessed with abundance of resource. Our skilled or sophisticated workforce is one of these blessings. Let's consider this workforce as our (Pakistan's) product or offering. Now, we know that every product has a 'Product Life Cycle'. It is, at, about the maturity stage that you can expect to get maximum returns from your product. If we apply this cycle to our skilled labor resource, we will see that, at the stage where value is added the product is taken away from us. Skilled