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Marketing Research of Minnesota IMPLAN Group

Marketing Research of Minnesota IMPLAN Group

Discuss Marketing Research of Minnesota IMPLAN Group within the Marketing Research ( MR ) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; MIG, Inc. (Formerly "Minnesota IMPLAN Group, Inc.") is the corporation that is responsible for the production of IMPLAN (IMpact analysis ...



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Marketing Research of Minnesota IMPLAN Group
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Netra Shetty
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Marketing Research of Minnesota IMPLAN Group - April 7th, 2011

MIG, Inc. (Formerly "Minnesota IMPLAN Group, Inc.") is the corporation that is responsible for the production of IMPLAN (IMpact analysis for PLANning) data and software.
Using classic input-output analysis in combination with regional specific Social Accounting Matrices and Multiplier Models, IMPLAN provides a highly accurate and adaptable model for its users. The IMPLAN database contains county, state, zip code, and federal economic statistics [1] which are specialized by region, not estimated from national averages and can be used to measure the effect on a regional or local economy of a given change or event in the economy's activity.[2] That is useful in examination of questions like these:

Furthermore, it has been indicated that SMEs has been among the forerunners in the export businesses. (Brouthers and Nakos 2005, 363) Studies have indicated that these companies tend to be successful in the area because of a couple of factors: “influence of decision-maker characteristics on the export behavior of the firm and its performance” and “firm-specific characteristics that influence a firm's international behavior.” (p363) It is seen therefore that the structure of the company, being compact allows for a much expedient way of carrying out decisions. In doing so, the SMEs are able to act timely. In the same way, if the company did make some sort of mistake or miscalculated their actions, then evasive measures could also be done surreptitiously as the decision-makers could detect it quickly.

IX. Entry in the Global Market
Entering a new market is a complex choice which has to be given focus and understanding. With the purpose of establishing a business that would be well-known and sustained by consumers, entrepreneurs are ever more trying to break through the market hastily. (Herrmann and Datta, 2002, 551) Among the factors that egg on businesses to go international is the opportunity set by an investment to support a company which in turn becomes a more a competitive entity among the other players in their respective industries.

If a business entity has decided to break into the international market, there are a lot of options available to them. These options may possibly be composed of the cost, risk and the degree of control that the company will encounter. (Griffith, Russell, Tihanyi, 2005, 270) In having an international business endeavour, it is very important that the management of the company should be competent of selecting a marketing entry system so as to make the business be more competitive (Brouthers and Nakos, 2004, 229). International business scholars make use of the expression “modes of entry” to represent the varied means and methods functional to enter markets and perform trade in other states.

In choosing joint ventures, the company has quite a few advantages to work to their favour. (Choi, and Beamish, 2004, 201) One would be the sharing of information with the associate company. This indicates that the learning curve with reference to the market that the company intends to enter would be rather brief. Likewise, the reputation of the company may similarly develop if a competent associate is selected in the target state. And deciding a competent associate will similarly bring about the prospect of the associate to institute high profit margins. This means that choosing a perfect partner in a joint venture entails the option of establishing obstacles to possible competitors in the same region.

On another hand, companies could break in to a new market through the use of the internet. Leamer and Storper (2001) maintained that the appearance of the internet as a commercial instrument established a “new economy.” (p. 641) Other academics have similarly maintained that the emergence of such technologies online have brought about the “death of distance” and even “end of geography.” (Buckley and Ghauri, 2004, p. 81) Though these assertions may emerge to be rather threatening international businesses have employed these conditions to their advantage. The internet has provided the modern organisation an opportunity to look into new potentials of transmitting correspondence through ICTs. (Leamer and Storper, 2001, p 643) This denotes that a company is capable of operating in opposite sides of the planet devoid of any considerable possibility of loss. Nowadays, manufacturing firms have the propensity to have a head office in a particular location and operational plants in another. (Leamer and Storper, 2001, p 643) This demand even created a new variety of trade. This is seen in Dot.com companies, providers, and developers that present their services to those who have admittance to the internet and those who are determined to employ this medium as their prime channel to success.

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