The purpose of this assignment is to compare market research tools. Companies can conduct marketing research in many ways, and different tools are currently available to aid their research efforts. Not all tools yield the same outcomes when used and, therefore, it is imperative to compare tools. Specifically, for this assignment, the Market Research Database from the U.S. Commercial Services located at http://www.buyusa.gov/ and the Market Analyses provided by 2016.export.gov located at http://2016.export.gov/kenya/ are compared.
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JXG is one of the leading US medical equipment suppliers globally. The company is now more than a century old with its vision of improving healthcare outcomes for patients. The company concentrates on diagnostics, biosciences, and other areas of medical devices. Since 2015, JXG has focused on acquisition to improve its presence in the global markets. It mainly targets complementary firms to provide new improved services to clients. The company focuses both on the solutions and on modes of delivering them using its qualified personnel for the best outcomes. It leverages expertise from acquired firms to introduce new ideas and products for customers and use novel ways to assist patients to be healthy and safe – a new era in healthcare service delivery. JXG has known for diabetes care; medication management solutions; medication and procedural solutions; pharmaceutical systems; biosciences; diagnostic systems; and preanalytical systems. The company’s purpose is to improve the world of healthcare services and outcomes.
The Market Research Data Base
The U.S. Commercial Services Site (http://2016.export.gov/kenya/)
Kenya is an appropriate country for the company. The government through the Ministry of Health and other government agencies delivers more than half of the country’s healthcare services. Nonetheless, the government facilities and other agencies can hardly meet the growing healthcare needs. As such, other providers, including private facilities, NGOs, and faith-based organized supplement healthcare services in Kenya.
The country’s healthcare system is under transition, courtesy of a four-year-old devolution system of government. Thus, there would be community providers, primary care providers, county referral services, and national referral services.
The current system is characterized by variations in the distribution and quality of care. The best facilities are found in the capital city, Nairobi, and some other parts of Central Province and North-Eastern Province are depicted with poorly facilities or none at all. While the government intends to address these challenges using the Managed Equipment Services, all the 47 county governments have an opportunity to improve their healthcare services because healthcare services have been devolved. This ongoing change offers a massive opportunity for all counties to equip their healthcare facilities with state-of-the-art medical equipment.
JXG Medical Equipment, as a US medical equipment supplier, is in an excellent position to grow its market share in the country because of its technical competitive advantage. Kenyans regard other products, especially from China, as generally counterfeit or sub-standard, but they trust brands from the US and other European countries. Kenyan consumers are attracted to the high quality and reliability of the US medical equipment. However, medical equipment from the US is usually perceived as expensive relative to other competing countries. Currently, the main private sector hospitals are extremely focused on modernizing their medical equipment inventories. Additionally, government healthcare facilities are expected to engage in the acquisition of new equipment because of improved budgetary allocations and the growing demands for better facilities. At present, many public health facilities do not have regular medical equipment, and many patients that require specialized care often fly to India and other locations.
The government intends to spend over USD223.4 million on medical equipment for the diagnosis of chronic conditions, including cancer. Cancer-related deaths and other deaths associated with chronic diseases continue to rise in Kenya. Lack of adequate facilities implies that some patients have to wait for over two years before they can get the needed care, leading to many terminal cases and deaths.
The most effective entry into the Kenyan market is to acquire and/or partner with a local provider (Hernández, 2015). This strategy would give JXG a competitive advantage over other firms. Notably, Kenya is a country that has experienced the rise of ‘tenderpreneurs’ in the last three years, and, thus, without a local partner, JXG may be frustrated in its expansion efforts (Nsehe, 2015; Ofili, 2016). A local partner would assist the company to navigate dynamics presented by such market actors.
The Buyusa.gov Site
This site declares that the United States is open for business. It allows US companies to find the best partners in Kenya across different fields. In this case, JXG Medical Equipment would rely on this site to find the best local Kenyan companies looking for US medical equipment suppliers, meet partners face-to-face, and take part in trade shows. This site also assists US companies seeking to export for the first time to Kenya. Additionally, it provides physical contact addresses, locations, names, and contacts of persons responsible for specific industries in Kenya. The contacts are considered professionals and specialists who guide interested local companies to identify and develop the right requirements for foreign markets.
Services offered at the site ensure that US firms can connect with local Kenyan companies displaying their products and services at various trade shows. They can further provide matching services, arrange face-to-face meetings or video conferences with potential pre-screened US suppliers. Overall, this site helps US suppliers to meet potential Kenyan firms.
Essentially, the Buyusa.gov Site offers opportunities for partnership between local Kenyan firms and US suppliers across various industries. In this case, JXG Medical Equipment would get the best local partners organized by industry specialists.
Most studies now confirm that Kenya can better fight its healthcare challenges through partnerships with other global actors perhaps due to limited budgets, lack of better facilities, expertise, and growing cases of chronic conditions (Mohajan, 2014; Moscou & Kohler, 2017; Njoroge, Zurovac, Ogara, Chuma, & Kirigia, 2017).
A Better Site for Marketing Research Information about the Company
For JXG Medical Equipment, the site, the U.S. Commercial Services Site, Export.gov offers more detailed information on the industry than the site, Buyusa.gov. Notably, Export.gov presents data for any interested investors in the healthcare industry of the country. JXG Medical Equipment can use these data to understand changes in the market, the expected market size, more lucrative counties, and factors driving such changes in the sector and ultimately make informed decisions.
It is however imperative to recognize that both sites are reputable but present their market research information in different ways. While Buyusa.gov concentrates on creating partnership opportunities for US exporting firms using trade shows and other methods, Export.gov is more concerned with presenting figures to any interested stakeholders, particularly the US importers that may wish to learn more about the healthcare sector in Kenya. Additionally, Export.gov assists US companies to circumnavigate the network of different government offices and deliver the required responses to companies. Buyusa.gov requires interested in Kenyan local firms to get in touch with specific market professionals for further information before decision-making. On the contrary, export.gov allows users to decide whether the market is good or not based on the presented facts and reference materials.
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Fact-Checking the Accuracy of the Site
Information presented on the site, Export.gov reflects the work of the US government agencies, implying that the source is from reputable authorities. The Department of Commerce on global trade issues works with nearly 20 other offices to provide information presented on the site.
Additionally, Buyusa.gov presents information collected by more than 111 offices across the American Continent. The site claims that is the chief US agency completely committed to advancing the US business interests overseas by helping the US companies to export to Kenya and other parts of the world.
More importantly, it is important to read the sources provided by these sites. They have more details about the information presented. Thus, when there is a need to review specific information or a controversial claim, the company would refer to the sources cited for fact-checking. The primary sources used, their effective usages, credibility, and reliability are more relevant for verifying information presented on these sites.
As mentioned above, these sites are reputable. They act as the leading sources of information for US companies interested in doing business overseas. The authorship is extremely trusted and may not wish to present inaccurate market information to US companies. Besides, information gathered is based on the works of multiple agencies collaborating to deliver reliable information.
Hernández, J. (2015). Analysis of Cemex’s Strategies as determinants for market power. Journal of Global Economics, 3, 133. Web.
Mohajan, H. K. (2014). Improvement of health sector in Kenya. American Journal of Public Health Research, 2(4), 159-169. doi:10.12691/ajphr-2-4-6
Moscou, K., & Kohler, J. C. (2017). Matching safety to access: Global actors and pharmacogovernance in Kenya- A case study. Global Health, 13, 20. Web.
Njoroge, M., Zurovac, D., Ogara, E. A., Chuma, J., & Kirigia, D. (2017). Assessing the feasibility of eHealth and mHealth: A systematic review and analysis of initiatives implemented in Kenya. BMC Research Notes, 10, 90. Web.
Nsehe, M. (2015). Corruption and ‘tenderpreneurs’ bring Kenya’s economy to its knees. Forbes. Web.
Ofili, O. U. (2016). Internationalization: Choosing the right entry mode: Lessons from Ebay’s strategy in China. European Scientific Journal January, 12(1), 202-219. doi: 10.19044/esj.2016.v12n1p202Web.