This report was created for global strategic planners who cannot be content with traditional methods of segmenting world markets. With the advent of a “borderless world”, cities become a more important criteria in prioritizing markets, as opposed to regions, continents, or countries. This report covers the top 2000 cities in over 200 countries. It does so by reporting the estimated market size (in terms of latent demand) for each major city of the world. It then ranks these cities and reports them in terms of their size as a percent of the country where they are located, their geographic region (e.g. Africa, Asia, Europe, Middle East, North America, Latin America), and the total world market.
In performing various economic analyses for its clients, I have been occasionally asked to investigate the market potential for various products and services across cities. The purpose of the studies is to understand the density of demand within a country and the extent to which a city might be used as a point of distribution within its region. From an economic perspective, however, a city does not represent a population within rigid geographical boundaries. To an economist or strategic planner, a city represents an area of dominant influence over markets in adjacent areas. This influence varies from one industry to another, but also from one period of time to another.
In what follows, I summarize the economic potential for the world's major cities for "bathroom vanities and related cabinetwork for permanent installation excluding wood custom bathroom vanities and related cabinetwork sold at retail directly to the customer" for the year 2011. The goal of this report is to report my findings on the real economic potential, or what an economist calls the latent demand, represented by a city when defined as an area of dominant influence. The reader needs to realize that latent demand may or may not represent real sales. For many items, latent demand is clearly observable
The 2011 Report on Bathroom Vanities and Related Cabinetwork for Permanent Installation Excluding Wood Custom Bathroom Vanities and Related Cabinetwork Sold at Retail Directly to the Customer: World Market Segmentation by City by Philip M. Parker, Ph.D. Chaired Professor of Management Science INSEAD (Singapore and Fontainebleau, France) www.icongrouponline.com ©2010 ICON Group International, Inc. ii COPYRIGHT NOTICE 00052459-1G All of ICON Group International, Inc. publications are copyrighted. Copying our publications in whole or in part, for whatever reason, is a violation of copyrights laws and can lead to penalties and fines. Should you want to copy tables, graphs or other materials from our publications, please contact us to request permission. ICON Group International, Inc. often grants permission for very limited reproduction of our publications for internal use, press releases, and academic research. Such reproduction requires, however, confirmed permission from ICON Group International, Inc. Please read the full copyright notice, disclaimer, and user agreement provisions at the end of this report. IMPORTANT DISCLAIMER Neither ICON Group International, Inc. nor its employees can be held accountable for the use and subsequent actions of the user of the information provided in this publication. Great efforts have been made to ensure the accuracy of the data, but we can not guarantee, given the volume of information, accuracy. Since the information given in this report is forward-looking, the reader should read the disclaimer statement and user agreement provisions at the end of this report. www.icongrouponline.com ©2010 ICON Group International, Inc. iii About the Author Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at INSEAD where he has taught courses on global competitive strategy since 1988. He has also taught courses at MIT, Stanford University, Harvard University, UCLA, UCSD, and the Hong Kong University of Science and Technology. Professor Parker is the author of six books on the economic convergence of nations. These books introduce the notion of “physioeconomics” which foresees a lack of global convergence in economic behaviors due to physiological and physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic Growth" (MIT Press 2000). He has also published numerous articles in academic journals, including, the Rand Journal of Economics, Marketing Science, the Journal of International Business Studies, Technological Forecasting and Social Change, the International Journal of Forecasting, the European Management Journal, the European Journal of Operational Research, the Journal of Marketing, the International Journal of Research in Marketing, and the Journal of Marketing Research. He is also on the editorial boards of several academic journals. Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University of Pennsylvania and has Masters degrees in Finance and Banking (University of Aix-Marseille) and Managerial Economics (Wharton). His undergraduate degrees are in mathematics, biology and economics (minor in aeronautical engineering). He has consulted and/or taught courses in Africa, the Middle East, Asia, Latin America, North America and Europe. About this Series This series was created for international firms who rely on foreign markets for a substantial portion of their business or who might be threatened by international competition. The estimates given in this report were created using a methodology developed by and implemented under the direct supervision of Professor Philip M. Parker, the Eli Lilly Chaired Professor of Innovation, Business and Society, at INSEAD. The methodology relies on historical figures across countries. Reported figures should be seen as estimates of past and future levels of latent demand. Acknowledgements Some of the methodologies and research approaches used in this report have benefited from the R&D Committee at INSEAD, whose research support is gratefully acknowledged. www.icongrouponline.com ©2010 ICON Group International, Inc. iv About Icon Group International, Inc. Icon Group International, Inc.’s primary mission is to assist managers with their international information needs using forward-looking economic analysis. Icon Group has field offices in San Diego, Paris, Singapore, Hong Kong, and Lomé, Togo (West Africa). Icon Group has published hundreds of multi-client databases and global/regional market data, industry, and country publications. Global/Regional Management Studies: Summarizing over 210 countries, management studies are generally organized into regional volumes and cover key management functions. 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Covering over 190 countries, each study consists of forward-looking analysis, statistics, forecasts, and information of relevance to managers. The studies are continually updated to ensure that the reports have the most relevant information available. In addition to raw information, the reports provide relevant analyses which put a more general perspective on a country (seen in the context of relative performance vis-à-vis benchmarks). Industry & Trade Studies: Companies are racing to become more international, if not global in their strategies. For over 2000 product/industry categories, these reports give the reader a concise summary of latent market forecasts, pro-forma financials, import competition profiles, key references, and trends across 200 countries of the world. Some reports focus on a particular product and region (up to four regions per product), while others focus on a product within a particular country. Intranet Subscriptions: Icon Group International, Inc. now offers full intranet subscriptions which brings millions of dollars of high-end global market research to the manager’s personal computer. For more information, please contact Icon Group via our web site: www.icongrouponline.com, or please email: email@example.com. In addition to these reports, Icon Group publishes similar studies for other product categories, issue areas, regions of the world, countries, cities and states (in the case of the United States). If you wish to receive a report that is customized or addressing a particular issue, feel free to contact Icon Group: Icon Group International, Inc. Customer Service 9606 Tierra Grande St., Suite 205 San Diego, CA 92126 USA Fax: 858-635-9414 Email: firstname.lastname@example.org URL: www.icongrouponline.com Note: as statements and statistics in this report are forward-looking, the reader needs to read the last chapter for disclaimers and user agreement provisions. www.icongrouponline.com ©2010 ICON Group International, Inc. Contents v Table of Contents 1 INTRODUCTION & METHODOLOGY 11 1.1 Overview and Definitions 11 1.2 Market Potential Estimation Methodology 11 1.2.1 Overview 11 1.2.2 What is Latent Demand and the P.I.E.? 12 1.2.3 The Methodology 13 126.96.36.199 Step 1. Product Definition and Data Collection 14 188.8.131.52 Step 2. Filtering and Smoothing 15 184.108.40.206 Step 3. Filling in Missing Values 16 220.127.116.11 Step 4. Varying Parameter, Non-linear Estimation 16 18.104.22.168 Step 5. Fixed-Parameter Linear Estimation 16 22.214.171.124 Step 6. Aggregation and Benchmarking 17 2 USING THE DATA 18 3 CITY SEGMENTS RANKED BY MARKET SIZE 19 3.1 Top 15 Markets 19 3.2 Markets 16 to 30 20 3.3 Remaining Cities by Market Rank 21 4 CITY SEGMENTS IN ALPHABETICAL ORDER 124 4.1 A: from Aalborg to Az Zawiyah 124 4.2 B: from Bacolod to Bydgoszcz 131 4.3 C: from Caaguazu to Cyangugu 139 4.4 D: from Da Nang to Dzhizak 148 4.5 E: from East London to Esteli 152 4.6 F: from Fagatogo to Funchal 154 4.7 G: from Gabes to Gyumri 157 4.8 H: from Hachinohe to Hyderabad 161 4.9 I: from Iasi to Izmir 165 4.10 J: from Jaboatao to Jyvaskyla 168 4.11 K: from Kabul to Kzyl-Orda 171 4.12 L: from La Ceiba to Lyon 179 4.13 M: from Macae to Mzuzu 185 4.14 N: from Nacala to Nzerekore 195 4.15 O: from Oaklahoma City to Oyem 200 4.16 Ö: from Örebro to Örebro 202 4.17 P: from Pago Pago to Pyuthan 203 4.18 Q: from Qandahar to Quito 210 4.19 R: from Rabat to Rustavi 211 4.20 S: from S. Luis Potosi to Szombathely 214 4.21 T: from Tabligbo to Tyre 226 4.22 U: from Uberaba to Utulei 234 4.23 V: from Vacoas-Phoenix to Vukovar 236 4.24 W: from Wadi Medani to Wuhan 239 4.25 X: from Xalapa to Xi'an 240 4.26 Y: from Yamagata to Yungkang 241 4.27 Z: from Zadar to Zvishavane 242 5 CITY SEGMENTS RANKED BY COUNTRY 244 5.1 Afghanistan 244 5.2 Albania 244 www.icongrouponline.com ©2010 ICON Group International, Inc. Contents vi 5.3 Algeria 245 5.4 American Samoa 245 5.5 Andorra 246 5.6 Angola 246 5.7 Antigua and Barbuda 246 5.8 Argentina 247 5.9 Armenia 248 5.10 Aruba 248 5.11 Australia 249 5.12 Austria 249 5.13 Azerbaijan 250 5.14 Bahrain 250 5.15 Bangladesh 251 5.16 Barbados 251 5.17 Belarus 252 5.18 Belgium 252 5.19 Belize 253 5.20 Benin 253 5.21 Bermuda 253 5.22 Bhutan 254 5.23 Bolivia 254 5.24 Bosnia and Herzegovina 255 5.25 Botswana 255 5.26 Brazil 256 5.27 Brunei 261 5.28 Bulgaria 262 5.29 Burkina Faso 262 5.30 Burma 263 5.31 Burundi 263 5.32 Cambodia 263 5.33 Cameroon 264 5.34 Canada 264 5.35 Cape Verde 265 5.36 Central African Republic 265 5.37 Chad 266 5.38 Chile 266 5.39 China 267 5.40 Christmas Island 267 5.41 Colombia 268 5.42 Comoros 268 5.43 Congo (formerly Zaire) 269 5.44 Cook Islands 269 5.45 Costa Rica 270 5.46 Cote d'Ivoire 270 5.47 Croatia 271 5.48 Cuba 271 5.49 Cyprus 272 5.50 Czech Republic 272 5.51 Denmark 273 5.52 Djibouti 273 5.53 Dominica 274 5.54 Dominican Republic 274 5.55 Ecuador 275 www.icongrouponline.com ©2010 ICON Group International, Inc. Contents vii 5.56 Egypt 275 5.57 El Salvador 276 5.58 Equatorial Guinea 276 5.59 Estonia 276 5.60 Ethiopia 277 5.61 Fiji 277 5.62 Finland 278 5.63 France 278 5.64 French Guiana 279 5.65 French Polynesia 279 5.66 Gabon 279 5.67 Georgia 280 5.68 Germany 280 5.69 Ghana 281 5.70 Greece 281 5.71 Greenland 282 5.72 Grenada 282 5.73 Guadeloupe 283 5.74 Guam 283 5.75 Guatemala 284 5.76 Guinea 284 5.77 Guinea-Bissau 285 5.78 Guyana 285 5.79 Haiti 285 5.80 Honduras 286 5.81 Hong Kong 286 5.82 Hungary 287 5.83 Iceland 287 5.84 India 288 5.85 Indonesia 289 5.86 Iran 290 5.87 Iraq 290 5.88 Ireland 291 5.89 Israel 291 5.90 Italy 292 5.91 Jamaica 292 5.92 Japan 293 5.93 Jordan 296 5.94 Kazakhstan 296 5.95 Kenya 297 5.96 Kiribati 297 5.97 Kuwait 297 5.98 Kyrgyzstan 298 5.99 Laos 298 5.100 Latvia 299 5.101 Lebanon 299 5.102 Lesotho 299 5.103 Liberia 300 5.104 Libya 300 5.105 Liechtenstein 301 5.106 Lithuania 301 5.107 Luxembourg 301 5.108 Macau 302 www.icongrouponline.com ©2010 ICON Group International, Inc. Contents viii 5.109 Madagascar 302 5.110 Malawi 302 5.111 Malaysia 303 5.112 Maldives 303 5.113 Mali 304 5.114 Malta 304 5.115 Marshall Islands 304 5.116 Martinique 305 5.117 Mauritania 305 5.118 Mauritius 306 5.119 Mexico 307 5.120 Micronesia Federation 308 5.121 Moldova 308 5.122 Monaco 308 5.123 Mongolia 309 5.124 Morocco 309 5.125 Mozambique 310 5.126 Namibia 310 5.127 Nauru 310 5.128 Nepal 311 5.129 New Caledonia 311 5.130 New Zealand 312 5.131 Nicaragua 312 5.132 Niger 313 5.133 Nigeria 313 5.134 Niue 314 5.135 Norfolk Island 314 5.136 North Korea 314 5.137 Norway 315 5.138 Oman 315 5.139 Pakistan 316 5.140 Palau 316 5.141 Palestine 316 5.142 Panama 317 5.143 Papua New Guinea 317 5.144 Paraguay 318 5.145 Peru
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