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Ohio Northern University students’ report published by International Trade Administration
“The acceptance of this invaluable research by the ITA shows that ONU’s College of Business Administration is making an impact on both the national and international business markets,” said James Fenton, dean of The James F. Dicke College of Business Administration.
A report produced by students in The James F. Dicke College of Business Administration at Ohio Northern University has been accepted for online publication by the International Trade Administration (ITA), a bureau of the U.S. Department of Commerce.
Titled “The Chinese Men’s Cosmetic Market: Guangzhou, Hong Kong and Macau,” the report was created by students in the international marketing class taught by Dr. Peter Banfe, associate professor of international business and economics.
This is the second time in the last three years that ITA has selected a report from the international marketing class. The first, in 2010, involved the Chinese luxury goods market.
The ITA has very high publication standards. Reports must be accurate, well-researched, particularly informative, and deemed of value to U.S. businesses considering the region. The majority of ITA publications are by ITA specialists with graduate degrees or other professionals.
“The acceptance of this invaluable research by the ITA shows that ONU’s College of Business Administration is making an impact on both the national and international business markets,” said James Fenton, dean of The James F. Dicke College of Business Administration. “This shows that ONU is maintaining its reputation as a school that provides its students with the opportunity to garner real-world research experience while working as undergraduates.”
The student report, and others like it, can be found on export.gov as a market-research courtesy to American exporters. Managed by ITA, export.gov gathers a number of resources from across the U.S. government to assist American businesses in planning their international sales strategies and navigating the international sales processes.
Most American companies conducting business in China began by developing a presence in big coastal cities like Shanghai and Beijing. New opportunities for future growth are expected to be found in second- and third-tier cities such as those outlined in the student report.
The student report serves as a starting point for American businesses gathering information about selling cosmetics to men in China, specifically in the cities of Guangzhou, Hong Kong and Macau. It provides as much information as possible in the areas of market dynamics, market demand, consumer behavior, market entry strategies, politics, regulations, hygiene licensing, testing and labeling requirements, and advertising regulations.
In creating the report, the ONU students conducted research on the size, characteristics, demand, consumer attributes, and potential market-entry strategies. Primary research was conducted on a sample of consumers within the three markets, and the legal requirements and political characteristics of each individual region were identified to ease the research process for interested American businesses.
The students who worked on the report are Chi Wo (Wilson) Wu, a senior accounting major with an international business and economics minor from Macau, China; Alyxia Caragiu, a senior international business and economics major from Ada, Ohio; Britney Melcher, a senior marketing major from Fort Wayne, Ind., Benoit Schwoerer, a management major from Angers, France; Peter Fitch, a senior management major from Cleveland, Ohio; Robert Bourdette, a senior marketing major from Powell, Ohio; Matthew Keating, a senior accounting major from Canfield, Ohio; and Mikhail Prokopovich, a senior international business and economics major from Broadview Heights, Ohio.