Marketing

After reading chapters 2,3,4,5 and 6 do the following exercises:

1. Go to the FNU e-library and do research on two foreign markets of your choice (the USA and another one). https://proxy.lirn.net/FLNatlUniv
username:24439
password: onlinelibrary39

Link to download book https://u1lib.org/book/11842925/48ad9f

1.1. Compare and contrast their economies, industries, culture legal/political through international business meta indexes (see the attached word document in Course Document link Week 2 which holds very helpful websites providing to you information to support the analysis). Craft a report describing all the points aforementioned for each market. The theoretical background can be found in chapters 2 thru 5.

1.2. Use any of the four methods mentioned in Chapter 6 (method of analogy, trade audit, chain ration method, or cross-sectional regression analysis) to make a market size assessment for a service of your choice for each country selected by you (the USA and another one). Once you have completed your assignment, evaluate your research experience. What was difficult? What additional data did you need? What was the easiest and hardest data to find? Would you be willing to make decisions regarding the market based on the data collected?

Exercise Outcome: APA written contribution. No length requirements.

Both exercises must be in the one-word document.

ANSWER

Introduction

The United States and China are the two largest economies from nominal and PPP, respectively. The GDP of both of the countries are highest than Japan and India. United States exchange rate basis is estimated to be $6033 billion (Kotabe & Helsen, 2020). The China economy is estimated to be $3982 billion, with 11% in 1960 and 67% in 2019 (Kotabe & Helsen, 2020). The per capita of the United States is higher than China by 5.78 and 3.61 in both the nominal and PPP. China is ahead of the U.S. in the Agricultural and Industry sector the output of the United States is estimated to be 17.5% (Kotabe & Helsen, 2020). Chinese society comprises a group, while in America; it is built of an individual perspective. In America, an individual can grow wealthy, while in China, an individual’s success is regarded as the development of everybody. In China, hierarchy is respected as managers and directors are considered essential. In America, employees at lower levels can assess higher levels without any difficulties.

In China, elders are treated with respect and honor that they deserve both in business and families, while America advocates for independence of an individual making the older life alone. The political structure of China is different from America; in China, there are 23 provinces with five regions and four municipalities; in the United States, there are 50 states with one district (Kotabe & Helsen, 2020). The China cabinet comprises a state council appointed by the National People’s Congress, while in the United States, the cabinet members are appointed by President and senate approval. China has a communist government, while in the United States; there is a constitution-based federal republic and a solid democratic tradition.

Chapter 6 Chain Ratio Method

This is the method of calculating the market demand by analyzing the total population found in a particular country. The chain ratio method is measured by calculating the population above and below certain ages. The method will be used in analyzing the market size of the United States and China in the market structure.

United States Chain Ration Method

The Chain ratio method has been used in the United States to calculate the ratio of households who can use internet products in the market. According to the U.S. Census Bureau, approximately 100 million households in the United States participate in market research assessment of the product they want to invest in (Kotabe & Helsen, 2020). The chain ratio method indicates that a massive number of American residents are using phones in doing their market research statistics. The introduction of a more detailed and substantial chain ratio method helps the investor in America develop more detailed and accurate estimates on the market system. For instance, in the United States, phone usage is estimated to be increasing tremendously due to the availability of internet services in the country.

China Chain Ratio Method

China has a very dynamic market and the largest market in the world. The Chinese market comprises numerous investors who have stood firm in advocating for the right of human beings. Chain ration method statistics, which was done in the Chinese market in the 19th and 20th centuries, developed China economies (Kotabe & Helsen, 2020). The emergence of China leaders who have stood firm in advocating for the stabilization of the country’s economic status has led to the strengthening of the country system. Most of the activities in China economy is facing the consumer-driven economic system in the market.

Research Review

The challenging task was during data collection in both U.S. and China economies. Research to be complicated to analyze and come to a conclusion. The United States. The data collected from the economies of both countries were not accurate, making the economic standard very diverse, making it even complex and complicated to collect the financial data in the market (Kotabe & Helsen, 2020). China has a high population, making it even hard to calculate the country’s financial level and standard. The research was expensive and tiresome due to the country’s wide and complex market structure dynamic. The additional data the research required for this project was photographs, notebooks, samples, digital outputs, real people responses and transcripts (Kotabe & Helsen, 2020). The following resources are essential in finding the real answers to the findings in the study.

The most accessible data to find in this study was the political and cultural differences between U.S. and China countries. The introduction of a more detailed and substantial chain ratio method helps the investor in America develop more detailed and accurate estimates on the market system. The Chain ration data method plays a huge role in determining the research study data analysis. However, based on the data collected, I would be in a position to state that both China and the United States economies have unique and structural differences as far as culture, legal politics, industries, and economic activities are concerned. The collection of different data has helped me come up with a substantial-conclusion that the United States and China conduct their activities more uniquely and effectively in the market. As a researcher, I learned various insights into the data collection process. The tools used were effective in speeding the research process.

References

Kotabe, M. M., & Helsen, K. (2020). Global marketing management. John Wiley & Sons. https://books.google.com/books?hl=en&lr=&id=iDLDDwAAQBAJ&oi=fnd&pg=PA1&dq=Global+Marketing+Management,+6th+Edition+Masaaki+Kotabe+%26+Kristiaan+Helsen+%5BMasaaki+Kotabe%5D&ots=XJDhVnl2O_&sig=rj6C3Hr0k0SKFGKe0yxYqDx6E0o