Join Doug Ladd for an in-depth discussion in this video World Bank and CIA.gov websites, part of Marketing Foundations: International Marketing.
- Everybody you know uses the Internet, right? You might be surprised to learn that the current statistics for the United States indicate that only 84 out of 100 people use the Internet. Well, that's just because the US is behind the times, right? Not necessarily. Many developed nations are in the same range. Meanwhile, developing countries are far behind. In Brazil only 52% of the population uses the Internet. Finding data like these can be very useful while analizing, planning, and executing your international expansion strategy.
One of the most comprehensive sites for data about emerging and developing countries is hosted by World Bank. At worldbank.org you'll be able to get data about individual countries, including demographics, population trends, income levels, and growth rates, just to name a few. For example, if your software development firm is considering an international expansion, you can click on the Data tab, and then look at "By Topic", to find a report on Infrastructure. This takes you to a map where you can see the number of Internet users by country.
Click on any one of the individual countries and you can do a deeper dive into the reported statistics such as school enrollment, life expectancy, and so on. By selecting the Indicators tab in the Data section, you can access a banquet of data comparing virtually every country on the planet. If you have invented a new tool to help build literacy among adults, you can look here to find the literacy rates of many countries. Combined with the other data sources on this site, you can gather the information needed to create a picture of the market sizes and dynamics for numerous industries, and product ideas in your targeted countries.
To deep dive into one specific country, you can click on the Countries tab. Within this area you can also select regions of the world. Another fantastic source of information about countries and regions can be found at cia.gov. After all, spies can't spend all their time chasing other spies. The united states has embassies in just about every other country on the planet. One of the roles of the consulate staff is to provide cover for the CIA personnel stationed there. Or gather data on the country, its economy and people, it's one of those two.
All that information is combined with the analysis done in CIA headquarters to create briefing sheets on our friends around the globe. You get to access this, and the first place to start is THE WORLD FACTBOOK. Here you will find everything the CIA folks want you to know. Seriously though, the data here are typically very accurate and easily accessible. You can research regions or individual countries, and uncover many interesting clues about other nations. If you were trying to help Austin Powers in his efforts to track down Dr. Evil, you would go here to learn more about Belgium, his place of birth.
In general, THE WORLD BANK and CIA sites have more reliable data than some of the commonly searched sites, such as Wikipedia. While the layout and structure require a bit more navigation on these two, the payoff is well worth the effort.
The course also investigates options for global expansion, such as exporting, licensing, joint ventures, and direct investment, and details how to put together a successful marketing mix using distribution, promotional methods, and translation. Plus, learn where to turn for more information about your specific target markets.
- The rise of the global consumer
- Learning about customers in global markets
- Accessing foreign markets
- Adapting products
- Balancing risks and rewards