International Business Case Study

934 WordsJul 1, 20124 Pages
Ashley Brewer Week 4 Homework Assignment June 24, 2012 1. Update the political, legal, and economic situation in Vietnam; then select a product of your choosing and evaluate Vietnam’s potential both as a market and as a manufacturing site. a. Vietnam’s economy has grown significantly, expanding at an average rate of 7.5% per annum over the past decade. In 2010, foreign investors registered capital of nearly $18.6 billion (US), in which the actual disbursed capital came to $11 billion. Vietnam offers a welcoming investment climate, including solid economic grown, political stability, a competitive workforce, a gradually more open and transparent market, abundant natural resources and good geographic positioning in the region.…show more content…
a. Marketers who conduct research in unfamiliar markets must pay attention to the ways in which cultural variables influence information. There could potentially be a language barrier as well. If researchers are unfamiliar with a language in the market they are investigating, they might be forced to rely on interpreters, and those interpreters could accidentally misrepresent certain comments. Researchers might also need to survey potential buyers through questionnaires written in the local language. To avoid any misstatement of questions or results, these must be translated into the language of the target market. There are many cultural differences when doing international research and all of this needs to be taken into consideration when conducting the research. A popular method of conducting primary international research includes using interviews and focus groups. Using this method helps to assess the buyers’ emotions, attitudes, and cultural beliefs. Interviews however, must be conducted carefully I they are to give reliable and unbiased information. Respondents in some cultures might be unwilling to answer certain questions or may intentionally five vague answers. 4. What is your perception of products labeled “Made in Vietnam”? Do you think the type of product would play a role in forming your perception? If so, why a. When I buy a product, I usually do not pay attention to where the product is made or manufactured. However, with the fall of
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