International business

BUSINESS INTELLIGENCE : 

BUSINESS INTELLIGENCE NIDHI DUBEY MBA PRESTIGE INSTITUTE OF MANAGEMENT GWALIOR

What is Business Intelligence? : 

What is Business Intelligence? Business Intelligence is the processes, technologies, and tools that help us change data into information, information into knowledge and knowledge into plans that guide organization. Technologies for gathering, storing, analyzing and providing access to data to help enterprise users make better business decisions.

Slide 3: 

Why BI? What happened? What is happening? Why did it happen? What will happen? What do I want to happen? Past Present Future Data

International Business Intelligence : 

International Business Intelligence The general subject of International marketing intelligence includes the collection, processing, analysis and interpretation of all types of information, from all available sources, to aid business management in making international marketing decision. Proper business intelligence is essential to make all the series of strategic decisions in international business like; International business decision Market selection decision Entry and operating decision Marketing mix decision and Organisation decision

International Business Intelligence Focuses on : 

International Business Intelligence Focuses on The following categories: Business and Industry Economic and Market Forces Environment, Global Warming & Extreme Weather Geo-politics & International Relations Government and Political Changes Global Security Society Technology

International Business Intelligence helpful in two ways : 

International Business Intelligence helpful in two ways INFORMATION REQUIREMENT INTERNATIONAL MARKETING INFORMATION SYSTEM AND MARKETING RESEARCH

INFORMATION REQUIREMENT : 

INFORMATION REQUIREMENT The broad areas of information requirement for international business are the following: International Business decision related information: Foreign markets, competition, domestic market prospectus, etc. Market selection related information: Political and economic stability, currency stability, Government policy & regulation, demand trends, competitive situation, etc. Product related information: consumer tastes & preferences about the product like unit size/quantity, shape, colour, product form, packaging, etc.

Slide 8: 

Price related information: Prevailing price ranges, price trends, margins, pricing practices, government policies & regulations, price elasticity of demand, role of price, etc. Promotion related information: For formulating the promotion strategy, data on many aspects like media availability & effectiveness, government regulations, customs/practices of promotion in the market concerned, competitive behaviour, etc. are required. Distribution related information: Channel alternatives & characterstics, relative effectiveness of different channels, customs/practices of promotion in the market concerned, competitive behaviour, etc. are required. Competition related information Extent of competition, major competitors, relative strengths & weaknesses of competitors, strategies & behaviour of competitors, etc.

Sources of Information : 

Sources of Information There are broadly two sources of information: Internal sources External sources Internal sources include sales and cost records, accumulated knowledge of the company personnel and any other data available with the company. External sources include sources of both primary and secondary data. A company will have to collect primary data when secondary data are not available, not adequate, or reliable.

Organisations which provides information : 

Organisations which provides information Organisations within India: India Trade Promotion Organisation (ITPO) State Trading Corporations Chambers of Commerce Confederation of Indian Industry (CII) Federation of Indian Export Organisation (FIEO) Export Promotion Councils/Commodity Boards/Export Development Authorities. Indian Institute of Packaging Export Inspection Council Exim Bank The offices of the consulates/embassies in India of foreign Governments Educational and research organisations Export and trading houses, banks, ECGC etc.

Slide 11: 

Organisations outside India: The International Trade Centre, Geneva The Japan External Trade Organisation (JETRO) World Bank Offices of the Indian embassies abroad and concerned departments/organisations of the foreign governments United Nations Conference on the Trade Development (UNCATD) Publications In many cases, a lot of information can be obtained from publications like journals and research publications – national, foreign and international. Internet In many cases, a readily available, and often up-to-date, source of information is the internet.

INTERNATIONAL MARKETING INFORMATION SYSTEM AND MARKETING RESEARCH : 

INTERNATIONAL MARKETING INFORMATION SYSTEM AND MARKETING RESEARCH International Marketing Intelligence includes several different tasks, one of which is marketing research on individual foreign markets. Marketing research is one of the sources of information input for the marketing information system. The Committee on Definitions of the American Marketing Association defines marketing research as “the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services.” A modified definition is that marketing research is “the systematic planning, gathering, recording, analyzing and interpreting of data for application to specific marketing decisions.” Marketing Information System is defined as”an interacting, continuing, future-oriented structure of people, equipment and procedures. It is designed to generate and process an information flow to aid decision-making in a company’s marketing programme.”

Utility of Marketing Research : 

Utility of Marketing Research The basic utility of marketing research is that it helps the company to identify the problem areas and environmental opportunities and to monitor the environment. Marketing research helps to: Identify the deficiencies, if any, of the; Products, Pricing, Distribution, Promotion. Identify existing and emerging marketing opportunities. Analyse the competitive environment. Identify the relative weakness and strengths of the company. Monitor the environment changes.

Limitations of Marketing Research : 

Limitations of Marketing Research Research findings are not always entirely dependable. The performance of many products has been in contradiction to the research indications. It involves costs. In underdeveloped countries, marketing research has its own limitations arising from non-availability of adequate and reliable data, problems in collecting data (including the problems caused by social attitudes, deficiencies of research agencies and in-house research facilities), and so on. It is a time-consuming process.

Scope of Marketing Research : 

Scope of Marketing Research The broad areas of research are given below. Under each of these areas, there are a number of specific areas of research; Product research Pricing research Distribution research Promotion research Consumer research.

THANK YOU : 

THANK YOU

ANY QUERY?????? : 

ANY QUERY??????