Market research in another country Essay Example | Topics and Well Written Essays - 250 words

Market research in another country - Essay Example Inside Edge feels Russia is an ideal market for its new product offering. The average temperature throughout the year in Russia is 39 degrees Fahrenheit (Climatetemps.com,  2012). The warmest it gets on average is 75 degrees Fahrenheit, proving to be one of the colder countries on the planet (Climatetemps.com,  2012). These temperatures alone justify Inside Edge’s entry into the Russian Flooring market similar to Can-A-Floor’s home market of Canada (hence the name). According to  "Global Research & Data Services"  (2013),  Ã¢â‚¬Å"Russian demand for flooring has been growing strongly with an average growth of 10.6% per year between 2002 and 2008. The situation in the market seems to be rather attractive for foreign flooring companies as the growth is predicted to continue in the following years (Global Research & Data Services, 2013). Because Russians see flooring as a way of establishing a comfortable living, the demand for these products is expected to contin ue to increase through 2015 (Marketresearch.com, 2013). This encouraging trend and high demand justifies the entry into the flooring market for any flooring manufacturer. Can-A-Floor is an engineered floating floor, similar in concept and design to a laminate, but with a heating element built in. Currently the most popular types of flooring in Russia are laminate and hardwood (Marketresearch.com, 2013). With Laminate being one of the top two popular flooring materials in the Russian market, Inside Edge can easily justify entering the market with its Can-A-Floor. Russia also is experiencing a declining unemployment rate along with a rising demand for new housing with its expanding middle-class (Marketresearch.com, 2013). The flooring market in Russia is on the rise with a trending increase in demand for all flooring products, home ownership on the rise, and unemployment slowing. These facts show the sustainability of the market while justifying Inside Edge’s entry into the market. Our

Collegiate Promotions Essay Example | Topics and Well Written Essays - 1000 words

Collegiate Promotions - Essay Example These representatives get paid according to the number of products sold. Unlike individuals employed directly for a wholesaler or a manufacturer, the collegiate promotion representatives are compensated strictly on commission basis. In addition, the company never reimburses their expenses such as those spent on entertaining of customers, transport costs and meals. This enables the company to cut on its operational costs and maximizing on its profits (â€Å"Career Information†). Alternatively, a company may have a perfect compensation plan but not achieve the amount of targeted sales. For instance, if the sales manager does not adequately instruct the sales representative on how to carry the duties you are paying them for, then the results can be devastating. It is essential to develop a business structure that supports the behaviors of the salespersons in the reinforced compensation plan. It is also likely that individuals in sales and marketing teams may not meet the job†™s vigorous demand despite their adequate product knowledge. In addition, direct salespersons may not be able to cope with the challenges in the market such as constant rejections or the necessity of creating relationships that are positive with everyone. In addition, the marketing team may shy away from the responsibility of managing their time effectively and the need to learn more about their customers’ domain continuously (Kahle, 2007). These are some of the challenges faced by the company despite their effective and efficient compensation plans. Reasons why a Sale Representative Is Willing To Sell At both the Top and the Bottom Range of a Price The sales representatives are willing to sell at both levels of prices because of various factors. For instance, competition in the market and demand of the product affects the price of the product. Bottom range pricing often occurs when the demand of the product is low and competition is tough. As a result, the sales representa tive has got no choice but to dispose the product at the lowest cost set by the company he is working for. When the product demand is high, he has to set a higher price so that he can get enough commission to cater for the expenses incurred during the product promotion. Predicting Whether the Sales Are Made At the Bottom or Top Range of Possible Prices The sales at the bottom range are often lower than those at top range. This is because the size of the swing is often determined by price levels in the market. The markets operating with higher prices have broad swings compared to those operating at lower prices. It is paramount that, stops be located at I, 2 or 3 price units below or above the swing tops and bottoms. For instance, when a market operates at low level historically, then a stop needs to be near the swing bottom or top than when the market is historically operating at levels that are high(James, 2001). How lack of geographically protected areas affect the behaviour of a sales person A product often corresponds to a geographical position such as a country, region or a town. This clearly indicates the product reputation within a specific geographical location. The product or service often enjoys a unique