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dealers in outlying territories, with catalogs showing delivered prices of a variety of imported specialties.

RESIDENT AGENTS OF FOREIGN MANUFACTURERS

Foreign manufacturers employ resident sales agents in the United States, who call on wholesalers and dealers, soliciting orders that are sent to the manufacturer abroad and filled direct. These agents work on salary or commission, or both. Such agents assume no credit risk, but sometimes "stand by in case of need" on drafts, drawn against payment, on American wholesalers and dealers. They usually check the credit standing of these customers for the foreign manufacturers. They stock no goods, but they frequently help to place advertising for the account of the foreign manufacturer or exporter in conjunction with the wishes of the American dealer. Many of them employ traveling salesmen who call on the retail or wholesale trade.

SALES TECHNIQUE IN IMPORTED SPECIALTIES Generally, the sales technique utilized by foreign manufacturers and exporters and by their agents or customers, including the importers and wholesalers in the United States, does not differ from the technique used to sell domestically produced goods. The difficulties which sometimes occur in getting prompt deliveries, in clearing goods through customs, and the consumer prejudices which frequently crop up because of political or social conditions in the country supplying the goods, offer the only differences in the marketing of foreign and domestic goods. Foreign products sometimes offer an appeal because of their foreign origin, and as frequently create prejudice and sales resistance for the same reason. However, in this day of quick and cheap transportation and of rapid communication, the sale and the distribution of imported specialties are attended by as few difficulties as the sale and distribution of domestically produced merchandise of a similar type and quality. As reciprocal trade agreements are concluded with more and more countries, and as barriers to world commerce are progressively removed, all consumers must ultimately benefit by the application of this division of labor to the fabrication and distribution of goods to supply the world's needs.

APPENDIXES

A. MAJOR FACTORS TO CONSIDER IN A MARKET STUDY

To aid traders, manufacturers, and others in evaluating justly and comprehensively the possibilities of a specific market, there is given below a rather complete outline or "check list” of the factors and questions that will need to be considered if the market is to be cultivated with maximum effectiveness. It is believed that this outline may prove helpful in inducing a thorough appraisal of all relevant points.

PURPOSE

1. To determine the size and extent of the market.
2. To evaluate the position of the product in the market.

METHODS OF SECURING THE DATA NEEDED FOR THE ANALYSIS

1. Desk study.

A. From company's records.

B. From material already published.
2. Field study (to develop new and original data).

A. By questionnaire.
B. By interview.

GENERAL CHARACTERISTICS OF THE PRODUCT

1. What is the product?

A. Is it used by other manufacturers as a raw material?
B. Is it "equipment goods”?
C. Is it for individual or household use?

(1) Utility product?

(2) Style product?
D. Physical properties.

(1) Size.
(2) Shape. .
(3) Appearance.
(4) Color.
(5) Weight.
(6) Strength.

(7) Particular qualities or features. 2. Policies of the company.

A. Lines and sizes.
B. Types, grades, and styles.
C. Most popular lines. Why?
D. Normal inventories carried.
E. Company's byproducts.

(1) Relation to product under consideration,
3. Economic nature of the product.
A. Reasons for its existence.

(1) A new product?
(2) An improved product?
(3) Cheaper?

Better manufacturing methods.
Proximity to raw materials, cheap power, or cheap

labor. (c) Shortage of competing products.

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3. Economic nature of product-Continued.
B. Luxury aspects.

(1) Degree of luxury demand.
(2) Factors in its success.

(a) Style.
(6) Price.
(c) Rarity.
(d) Novelty.
(e) Publicity.

(1) National advertising.
(2) Cooperative advertising.

(3) Patent or trade-mark rights. 4. Who buys the product?

A. Men or women?

B. A shopping item or a convenience item? 5. History of the product.

A. Origin.
B. Changes.
C. Demand.
D. Future.

E. Production.
6. Patent situation.
7. Danger or possibility of product being superseded.

THE COMPANY
1. History.
2. Present organization.
3. The company's records as information sources.
A. Purchasing department.

(1) Sources of supply.
(2) Quantities bought.
(3) Prices paid.

(4) Quality.
B. Production department.

(1) Production and shipments.
(2) Cost data.
(3) Machine efficiency.

(4) Labor data.
C. Sales department.

(1) Trend of sales—by States, regions, lines, eto.
(2) New orders.

(3) Seasonal characteristics.
D. The plant.

(1) Location.
(2) Capacity.
(3) Equipment.
(4) Age.

THE INDUSTRY AS A WHOLE 1. Number of firms. 2. Volume of production. 3. Value of production. 4. Number of employees. 5. Labor situation. 6. Dependence on conditions in other industries. 7. Effect of various economic trends on the industry. 8. Geographical location of the industry. 9. Tendencies toward or away from consolidations.

COMPETITION

1. General character.
2. Degree of monopoly existing.

A. Reasons.

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