As the newly appointed Vice President of International Marketing research it is my job to help seek to internationalize our business operations. The Chief Executive has identified Thailand and Sri Lanka as high-potential countries that we can do business with. It is now my job to look at public domain resources that will provide us with information about the exporting marketing and international sourcing of these countries and then analyze if these countries are a good choice for our U.S. based company to do business with.
P.E.S.T Analysis – Part One
1. U.N. Comtrade Database http://comtrade.un.org/db/
The database is able to tell us the amount of trade in dollars between any trading nations. Import and exports of any commodity is available which helps us determine the trading patterns between the US and either Thailand or Sri Lanka.
2. CIA World Factsbook https://www.cia.gov/library/publications/the-world-factbook/ The CIA World Factsbook provides us with information that is useful for determining if a country is a suitable to do business with. It gives details about the country’s economy which includes factors such as growth rate and purchasing power.
3. Nation Master http://www.nationmaster.com/index.php
Nation Master allows us to compare countries to each other to help us decide which potential country would be best for us. The website not only gives information about the economy but also about the imports, exports, and the products the countries produce. Nation Master uses many other sources to obtain its information which makes it very reliable.
4. 2007 National Trade Estimate Report on Foreign Trade Barriers http://www.ustr.gov/Document_Library/Reports_Publications/2007/2007_NTE_Report/Section_Index.html This website gives us information on trade agreements that were made between the United States and other countries which benefits us tremendously. It tells that Thailand is the United States’ 20th largest trading partner which is very good. National Trade Estimate also provides information relating to expansion of market access of American goods and international commodity agreements.
5. International Trade Centre http://www.intracen.org/welcome.htm The International Trade Centre provides information based on a country’s export and import performance. We are able to compare the products that are traded. Being a surf and skate brand many products are necessary such as parts for our boards and fabric for our clothing. This website allows us to compare the trade flow of each of these products.
6. TradeStats Express – State Export Data http://tse.export.gov/SEDChart.aspx?UniqueURL=wobwtnrglwlttg55b2kao33z-2008-2-20-17-55-37 TradeStats Express allows us to see export relationships between US states and countries. We are able to analyze from the information given to us if we have a good standing relationship with either Sri Lanka or Thailand. The website provides us with the products and commodities we are exporting to the countries.
7. Trade Port http://www.tradeport.org/index.html
Trade Port provides many resources that can be helpful in our market research. Resources such as rules of trade and country profiles allow us to decide which country is best for us to trade with. It focuses on not only with the United States in general but specifically California where our business is located.
8. U.S. Census Bureau http://www.census.gov/foreign-trade/balance/c5420.html#2007 The U.S. Census Bureau provides us with charts for the available years that the U.S. did trade with Sri Lanka. We are able to compare exports, imports, and trade balance in U.S. dollars of each year and determine the growth patterns in each category.
9. Thailand’s Department of Export Promotion http://www.thaitrade.com/go/home This website provides information relating to trading with Thailand. It offers product profiles and export procedures which is essential in determining if they...