Going Global Without the Grief

Think small and you will undoubtedly get left behind. The increasingly global nature of business means organisations must look beyond the local or even national boundary.

Through the process of globalisation, economies and cultures have become more integrated. Such integration has been enabled by communication and transportation networks.

Businesses now source from across the globe and sell their products and services to a series of worldwide locations. But how do you make sure your information and processes are ready for the increasingly global market place?

The first thing to recognise is the importance of difference. Just because something works at home does not mean it will be applicable elsewhere. Host countries have their own laws, particularly regarding customer records and data compliance.

It might be within the legal jurisdiction to hold records within a different part of the European Economic Area, but you will need to be very careful about holding information in other parts of the world.

Your team will need access to smart financial management technology that can help ensure compliance is straightforward, rather than a bind. Systems such as electronic procurement and document management will make sure contracts are tight and that no element of governance has been overlooked.

Good customer service that meets local regulations will require strong information management. Pay attention to data warehousing and master data management to ensure records are complete, accurate and truthful.

System choices will be affected by locality. Just because an approach works in the UK does not mean it can be easily transplanted to another country. Look for business software that can be flexibly deployed in line with national infrastructure and network capabilities.

Finally, finding local people that can deal effectively with customers and that can comply with standard and local business practices is key. Use human resources software to ensure the right personnel are found and trained, and that the correct global workflow processes are established.

Moving into new markets is exciting – in fact, it can be viewed as a necessity if you want your business to grow. Just make sure you get the ‘behind the scenes’ infrastructure and processes right so that going global does not cause your business grief.

Central Nervous System (CNS) Biomarkers: Technologies and Global Markets

The global central nervous system biomarker market was valued at nearly $2 billion in 2012. The market is projected to reach nearly $5.1 billion in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 20.7%. This aggressive growth rate is driven by several factors, including the increase in public-private partnerships with government support, pressure to keep healthcare costs down, an increasing elderly population, and the rapid advancement of genomic and proteomic technologies, which have impacted the CNS biomarker diagnostics area.

The global central nervous system biomarker discovery, drug development, and molecular diagnostics segments represent 15.1% (nearly $2 billion) of the total biomarker market, valued at $13.2 billion in 2012. The global market for all biomarkers is projected to grow to more than $32.1 billion by 2017, and the CNS biomarker segment is expected to reach $5.1 billion, increasing its market share to 16.1% of the total market for biomarkers.

The projected growth of CNS biomarkers revenue is based on the projection that a number of CNS biomarkers in the early stages of development will successfully complete their testing and validation and achieve FDA approval during the forecast period of 2012 to 2017.

The CNS molecular diagnostic market is expected to see the greatest growth, increasing from $196 million in 2012 to nearly $1.5 billion by 2017 at a CAGR of 49.6%. This large increase is due to the number of diagnostic tests that are in company pipelines. Tests for Alzheimer’s disease, schizophrenia, and multiple sclerosis are expected to be commercialized within the next few years. These disorders represent large markets and have unmet needs in both diagnosis and treatment.

Growth within the global central nervous system biomarker market for drug development has been modest in the years prior to 2012. As more validated biomarkers become available for patient segmentation and assessment of efficacy for clinical trials, this market will begin to exhibit significant growth during the five-year forecast period. Revenues from this segment in 2012 are projected at $194 million and are expected to increase to $776 million by 2017, a CAGR of 32%.

The discovery segment of the CNS biomarker market will exhibit modest growth during the next five years, in part because many of the proteins involved in the major CNS disease pathways have been discovered. New discoveries are likely in the future, however, as proteomics research advances. Projected revenues for CNS biomarker discovery in 2012 were nearly $1.6 billion, and this is expected to increase to nearly $2.9 billion by the end of 2017 at a CAGR of 12.3%.

Central Nervous System (CNS) Biomarkers: Technologies and Global Markets (BIO074B) will help its readers:

• Assess the various technologies used for CNS biomarker discovery and future diagnostics
• Understand the process of CNS biomarker development from discovery to commercialization and the path toward adoption
• Examine the regulatory landscape and government’s role
• Examine the future advances that need to be made in the diagnosis and treatment of various CNS disorders
• Determine current and future CNS biomarker markets.

Technology Bridges the Gap of Global Marketing Research

Talk about how research can now be done anywhere and everywhere and focus more on the language demographic that it can reach. Since focus groups can now be done online via Bulletin Boards, people can simply change the language read with their local language.

When conducting research in an international setting, one must evaluate consumer, export, and import statistics in several parts of the world. The research must show how different people from across the globe spend their income. This is then related to a region’s traditions, culture and customs, and many other socioeconomic factors. In the days before online marketing research, international researches were very time-consuming and required traveling to several locations all over the world. Furthermore, such researches, if undertaken, are costly, and there is an added challenge of the language barriers for every location selected.

But with the advent of the internet age, it has become easier to conduct international market research. This means that people from all over the world, regardless of location in any part of the globe, can now participate in international research. Because this is conducted online, this opens new possibilities for researchers. Now, as more people opt for smart phones, it is also possible to conduct research anytime, anywhere. People carry their handheld devices with them all the time, everywhere. The possibilities of online market research are varied, and with many different types of consumers using these devices, from young people to businessmen who often travel, it assures that the researchers have a wider audience to choose from in the research. Furthermore, mobile marketing research guarantees an extensive reach, as well as faster responses.

For example, an online focus group may be done via video conferencing or the use of webcams. This means that all the steps of the research from recruitment to the actual research need not be done by traveling to the location of the persons included in the focus group. Another option open to marketing researchers are bulletin boards or message boards. This type of focus group discussion lets the participants have freedom and control when it comes to the time they will allot for the research, or what time they choose to access the online bulletin board. Because everything is done online, the language barrier is no longer a problem. Respondents who speak a different language need not worry in online focus group discussions. Indeed, researchers need not worry if some of the respondents, especially from Asian countries, do not speak English and speak another language. They can simply change the language settings to their own local language and answer questions posted on the online bulletin board accordingly. Market research software and technology thus bridge the gap on international marketing research.

Global Markets: A Window on the World Economy

Expectations drive the market. Every stock price is driven by what people expect the company to do. That’s why all the talk about a strong or weak economy has such an impact.
But those aren’t the only expectations moving us. We’ve seen the impact of war and terrorism worries on markets and the impact of SARS concerns on Asian markets.

Markets move on a combination of expectations and reality, and every reality leads us to new expectations. Great earnings? I expect the company will earn more. A sales slump? I expect the company to struggle next year too. The question is: if all decisions are made on expectations (and they are), how can things turn around? If our expectations are so colored by past events, we’ll expect the future to be as grim as the past, and nothing can ever change, can it? Ah, but we have long memories. Ask yourself: what would it take for you to change your outlook? What would it take for all of us to change our outlook? The answer to that last question effectively tells us when the market will turn, because when everyone is upbeat and buying, the market will fly.

Consistently rising earnings will change expectations, but how much positive news is necessary before the turn begins? Will some companies turn before the market? Consider Constellation Brands or Fortune Brands, two of our recommendations that haven’t seen any drops, and in fact are defying estimates of weakness. Should we expect those shares to rise based upon their own positive trends, or will the market turn first?

The answers aren’t simple or uniform. There’s no answer, only conjecture. We can make estimations. In the past, we’ve seen market turnarounds led by small stocks or led by big stocks, led by technology, or led by consumer goods. So, as we near the turn, you’ll likely hear all kinds of suggestions for where the upturn will begin. Preserve your sanity with a little skepticism. I suspect the first to turn will be the ones that have had the best results for a long time. That’s precisely why we’re so aggressive in our recommendations of companies like Fortune and Constellation. If they are successful in maintaining their records, this type of firm will rise sooner than the rest.

It doesn’t matter whether the companies are big or small, techie or traditional. The best companies will start the upward move. Without support from a strengthening economy and a rising market, even these success stories can’t rise far. That’s why expectations of the broader economy are important. That’s where we’ll have to wait and see. Expectations should rise now with the ending war (with stock prices and consumer spending following). Expect some good news for a while. Surprises from companies like McDonald’s will also provide a boost. Surprises shake people out of expectation ruts. When we’ve become too negative (or too positive), a shock can wake us up to the change.
Let’s hope that McDonald’s profit boost is a harbinger of things to come.

While the longer term still holds some uncertainty, there is hope. Success is largely a matter of recognizing expectations, and following through when we see an opening. For the moment, at least, there appears to be an opening. We don’t know yet what the future holds, but the present looks good.

Competing in a Global Market Via BPOs and Telemarketing Services

Reinvent or perish, this is the predicament that most companies have found themselves in. With the accelerated pace of globalization at the turn of the 21st century, old business tools have to be reexamined and replaced in favor of better devices like telemarketing services.

The world becoming a virtually contiguous market, on the one hand, has certainly opened a whole lot of new opportunities. The dismantling of many trade barriers across countries, on the other hand, has made competition broader and keener. Telemarketing services is one business tool that can best address these complementary developments.

Flexible tool from convergence of technologies

The days of the door-to-door salesmen are definitely Jurassic alternatives. The convergence of breakthroughs in various technologies such as telephony and computers has made it possible to reach a wider base of consumers, and at speeds never before experienced. It will be to the advantage of any business venture, whether that of a Fortune 500 or modest start-up firm, to harness the power of telemarketing services.

Telemarketing stands as a flexible tool that more than just introduce a company, its products and it services. It can serve as a vital component of a multimedia campaign that may very well serve as the final sales pitch that will win over a consumer.

Rifling those messages to consumers

Beachheads in the minds of consumers established by such marketing modalities as traditional print and broadcast advertisements can be fully explored with telemarketing services. Telemarketing can easily be molded to target specific market segments, a much more efficient method than the shotgun approach of direct mass media selling.

Well-trained telemarketers can bring personalized interaction with sales prospects. Certain grey areas that were not fully addressed in advertisements can be resolved through telemarketing.. With the highly measurable results it delivers, company resources can then be more wisely expended through telemarketing services..

In addition to the concrete sales results achieved, telemarketing has become an anchor of business enterprises to the hearts and minds of consumers. It has emerged as a valuable tool, for instance, in after-sales services. In so doing, consumer loyalty and repeat purchases can be effectively encouraged through telemarketing services.

The benefits of outsourced telemarketing

Admittedly, cost considerations may hamper a decision to set up an in-house department for telemarketing services. Nevertheless, much of the set-up cost can be reduced by outsourcing this business process to call centers. Business process outsourcing (BPO) ventures, in recent years, have multiplied exponentially with businesses’ want and need for more cost-effective tools to compete in the now highly global marketplace.

Through a BPO partner in telemarketing services, a company can concentrate on its core competencies. Its efforts can stay focused on the manufacture of quality goods or the efficient service delivery of a consumer need. Further market inputs can be built in, and continuously derived, from an outsourced telemarketing system. Putting all these benefits together, a company will have more agility and adaptability which are the prerequisites in order to survive and grow in a global market setting.