International Marketing Assignment Tasmania Exports

8 Pages2069 Words133 Views

Added on 2020-04-01

International Marketing Assignment Tasmania Exports

Added on 2020-04-01

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Running Head: International MarketingInternational MarketingMarket research tools

International Marketing Assignment Tasmania Exports_1

International Marketing2ContentsIntroduction................................................................................................................................2Research Methods......................................................................................................................2Bottom up forecasting............................................................................................................2Delphi technique.....................................................................................................................2Model Building.......................................................................................................................2Projection................................................................................................................................3Scenario Planning...................................................................................................................3Surveys of intentions..............................................................................................................3Top down forecasting.............................................................................................................4Research tools and software.......................................................................................................4QuestionPro............................................................................................................................4Liveminds...............................................................................................................................4Conclusion..................................................................................................................................4References..................................................................................................................................5

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International Marketing3IntroductionResearch methods are used extensively by every organization. They can be used to forecast demand, decide on selling price and hence gain an estimate on the profits of the business. Various research methods are beneficial in different situations. This report throws light on seven different methods of conducting research and examples have been taken to elaborate the same. Examples are from the export industry of Tasmania in order to gain an insight on international marketing.Research MethodsBottom up forecastingThis method is in contrast with top down research approach. As the name suggests, this method calculates the expected revenue of different products in different product lines in order to calculate the sales forecast of the entire firm. In case of exporting Tasmanian products, bottom up forecasting would include computing revenue that can be generated fromvarious products that can be exported by different firms and thence calculating total revenue earned by Tasmania exports.This method can be applied to Tasmanian export of seafood in china. 24.6% of total exports from Tasmania have been to China (ABC news, 2016). Seafood is a very large product line and using bottom up forecasting will make it easy to get an idea of overall demand. For example, Rock lobster is the highest in demand seafood item in china followed by Salmon and oysters. Calculating individual demands for these products will lead to an understanding of overall demand from China. Delphi techniqueDelphi method of forecasting can help gain an insight on the demand of Tasmania products inthe international markets. This technique involves sending questionnaires to a panel and receiving answers anonymously. The panel selected usually consists of experts on the matter. Several rounds of questions are sent out and the results of them help understand what the group thinks. Delphi technique can particularly help in establishing which product has a buying market and in which international country.

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International Marketing Assignment Tasmania Exports