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       Name  of  Module  :  Principles  of  Economics  (FNBE0814)    Report  Title  :  A  Tale  Of  Two  Businesses  –  A  Comparative  Analysis  Of  2  Businesses  Of  Similar  Industry  In  Different  Geographical  Location          Group  Members  :    Amanda  Chiong     (0320328)  Bridget  Hsu       (0320218)  Chau  Xet  Nee       (0320222)  Foo  Zhi  Fung       (0320226)  Le  Jia  Nian       (0319957)  Marco  Leong       (0320026)  Ngo  Jia  Haur       (0320144)  Wong  De-­‐Vin       (0319814)    

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Table  of  Content        

 Content  

 

 Page  

Cover  Page      1  

Table  Content      2  

Key  Summary      3  

Brief  Bio  Of  Businesses      4-­‐7  

Comparative  Analysis  Of  Business  Competitive  Traits      8-­‐14  

Recommendation      14-­‐15  

Appendices      16-­‐28  

References      29  

 

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Key  Summary      

This   assignment   aims   to   conduct   a   comparative   analysis   between   two  

businesses  of   similar   industry  but   the  different  geographical   locations,  

where  are  Tuck  Kee  Dried  Meat  &  Meat  Floss   in  Pulau  Penang  and  the  

another  one   is  Oloiya  Dried  Meat   in  Klang  Valley.  For   this  assignment,  

we  had  chosen  two  Dried  Meat  shops  in  food  industry  to  carry  out  face-­‐

to-­‐face  interview  to  obtain  the  businesses’  information  and  compare  the  

businesses’   competitive   traits   such   as   number   of   competitors,   main  

products   or   services   sold,   market   share   of   the   businesses,   nature   of  

markets  and  others.  Dried  Meat  is  a  type  of  meals  snack  that  is  popular  

among  people  with  different   ages  mostly   in  Chinese   community.  After  

analysis   all   the   information   obtained,   we   concluded   that   Oloiya   Dried  

Meat   had   a   higher   popularity   as   it   boasts  many   outlets   nationwide   in  

Malaysia  but  Tuck  Kee  Dried  Meat  &  Meat  Floss  not   so  popular   in   the  

market.  Both  of  them  shares  a  common  similarities  which  they  provide  

export  services  internationally.                    

   

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Brief  Bio  of  the  Businesses        Tuck  Kee  Dried  Meat    

1. The   dried   meat   business   was   interviewed   in   Penang   -­‐   ‘Tuck  Kee  Dried  Meat’.  This  business  was  founded  in  1980an  and  the  name  of  the  founder  is  Chong  Man  Tuck  at  the  age  of  27.  ‘Tuck  Kee  Dried  Meat’  is  named  due  to  the  founder’s  name  is  related  and   also   a   remembering   on   his   effort   on   the   dried   meat  business.    

2. The   current   location   is   strategically   located   in   the   famous  tourist   spot   in   Penang   Road,   Georgetown.   There   is   a   well-­‐known   chendul   stall   named   Teowchew   Chendul.   With   the  corporation  of  both  of  their  famous  business,  Penang  Road  had  been  a  must  for  tourist  and  local  to  visit  if  they  have  their  foot  in  Penang.    

3. Before   the   first   outlet   debuted,   the   founder   is   just   pushing   a  cart  selling  dried  meat  in  every  place  in  Georgetown.  Later  on,  the  Mr.  Chong  gained  his  first  capital  to  buy  a  shop  and  roots  in  Penang  Road  to  run  his  business  together  with  10  numbers  of  employees.  

4. For   sure,   the  main   product   is   dried  meat   but   Mr.   Chong   has  also  doing   services   like  exporting  his  dried  meat  oversea  and  retail  &  wholesale.  Besides,  Mr  Chong   is  also  selling  bird  nest  and  tea  leaves  as  his  side  income.    

5. During   the   15   minutes   interview,   we   saw   there   are   3  customers  came  into  the  shop  to  buy  dried  meat.  Mr  Chong  run  his   business   at   about   12   hours   a   day.   With   our   estimation,  there  are  about  150  customers  visited  him  in  a  day.  

 

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6. It  was   founded  because   in   the  beginning  after  he  married  his  wife,   he  was   a   fruit  man   selling   fruit   on   a   push   cart    soon   he  realize   that   not   much   profit   he   can   make   to   feed   the   family  from  selling  fruit.  He  soon  got  his  motive  and  discover  how  to  make   dried  meat   because   dried  meat   are   popular   among   the  Chinese  community  in  all  ages  and  start  selling  a  little  amount  of  dried  meat  on  a  push  cart.  Through  this  dried  meat  business,  he   makes   a   lot   of   profit   and   decided   to   open   a   shop   lot.   He  passes  his   recipe   to  his  son  and  his  daughter.  He   is  no   longer  operating   the   business   as   his   children   hold   all   his   business  right  now.    

7. In  recent  time,  the  business  has  used  their  revenue  to  improve  his  product  improving  the  taste  of  the  meat  and  make  it  better  packaging.  Besides,  they  are  using  their  revenue  to  invent  new  taste   of   the   dried   meat   using   different   type   of   meat.  The  business   revenue   gain   thought   their   development   is   current  RM50,   000  per  month  where   they   start   business  with   capital  around  RM100  in  the  earlier  year.      

                           

     

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Brief  Bio  of  the  Business  Oloiya  

1. In   1970an,   the   founder   –   Khue   Chow   Kong   (grandfather   of  Raymond  Khue)  ventured   into  making  orange   juice.  He  had  a  Taiwanese  friend  who  willing  to  exchange  his  recipe  of  making  dried  meat   with   him  who   always   visit   him  when   he   reached  Malaysia.  When  he  met  Mr.  Khue,  he  would   shout  at  him  and  said   ‘Oloiya’   which   is   a   Hakka   language   which   mean   ‘Here   I  Come’.  Hence,  a  huge  business  is  start  up  by  using  the  name  –  ‘Oloiya’    

2. The  original  Chinatown  centred  on  Petaling  Street.  The  street  was  popular  as  it  was  higher  than  the  rest  of  the  town  and  was  therefore   less   prone   to   floods,   and   the   wealthier   population  were  inclined  to  build  their  shop  and  houses  here.  Due  to  all  of  the   reason,   Mr   Khue   took   this   opportunity   and   start   his  business   selling   dried   meat   close   to   the   Petaling   Street.   The  men   were   mainly  Cantonese  and  Hakkas  from   China   who   had  come   to   the   city   because   of   the   tin   trade.   Thus,   this   would  made  Mr  Khue  dried  meat  business  enlarged  as  people  around  would   buy   dried  meat   before   they   sail   back   to   their   country.  Besides,   the  worker   that  working   as  coolies  in   the  mines  will  also  bought  dried  meat  as  snacks.    

 3. In  1975,  there  were  only  1  outlet  which  was  located  in  Petaling  Street  and  still  the  founder  was  operating  it.  Until  2010,  there  were  36  outlet  all  over  Malaysia.  Raymond  Khue  very  honestly  said  that  the  number  of  roadside  stalls  has  decreased  while  the  number   of   outlets   in   malls   and   shoplots   continue   to   grow.  Raymond Khue also said that there were approximately 100 employees all over the company include factories, offices, agent and salesman. Mr Khue is now passed away, his grandson now is inheriting his huge business.

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4. They are variety of product been sold in every branches and franchises of ‘Oloiya’ such as savoury minced chicken dried meat, gold coin ham & chicken dried meat, chicken and pork floss, minced pork dried meat, lovely heart dried meat, bacon slice, chili pork dried meat and hakka-style beef dried meat and duck dried meat is also available. Raymond told us that the bestselling product is the traditional dried meat – savoury minced chicken dried meat. Those products usually for the purpose of gift and as a hamper for others. Dried meat also as a snacks for foreign.

5. As the interview held in the office, we could not estimate the real

number of customers but we also asked this question to Raymond, he said there are approximately 500 customers visited to the shop and there are mosty local to visit them as only local who know the dried meat brand – ‘Oloiya’.

6. In 1970, the couple opened their first stall in Chinatown. In those

days, pork was used to make dried meat and the couple soon realised that the sliced dried meat was not suitable for the elderly and young as it was rather difficult to chew. Mr Khue started the first of many innovations in the dried meat industry. He created minced chicken dried meat and went on to introduce minced pork and duck delicacies. This is not meant that it was more palatable for the young and elderly, it also gave their customers more variety on buying dried meat.

7. Their recent development have plans in the pipeline to expend the

business globally. In addition to focussing on countries that have a significant non-halal countries such as Thailand, China, Vietnam, Singapore and so on. But the first step to go into global business is to export and open branch in Thailand. Besides, they also plan to list their company in Bursa Malaysia but there are many obstacles blocking them to the way through.

   

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Comparative  Analysis  of  Business    Competitive  Traits  

 1. In   Penang,   dried   meat   shop   there   are   at   least   8   competitors  

specifically   in  George   town   ;  There   is  an   large  number  of  dried  meat   shop   in   Klang   valley   counting   more   than   50   firm   .  Specifically  in  Petaling  Street,  there  are  at  least  10  firms.    

2. In   Penang   ,   Teic   Kee   share   is   small   and   its   top   competitor   in  market  would  be  Loong  Kee   ,  Oloiya   ,  Bak  Kueh  Eng   ;   in  Klang  Valley   Oloiya   share   is   big   in   the   market   ,   its   top   competitors  would  be  Bee  Cheng  Hiang,  Wing  Heong,  Loong  Kee  .  

   

3. TUCK  KEE    

a) Loong  Kee  Dried  Meat   founded  in  1976  and  has  been  a  name   in   this   industry   for  almost  40  years.  Loong  Kee   is  famous   for   festive   favorites   such   as   dried   meat   ,   meat  floss,  meat  fluff,  mooncakes  as  well  as  feel-­‐good  all-­‐year-­‐  round   treats   such   as   cookies   and   pastries.   There   are  currently   21   Loong   Kee   branches   nationwide   and   3   of  them   located   in   Penang,   one   in   Ayer   Itam,   one   in  Butterworth  and  one   in  Gurney  Plaza.  Loong  Kee   is  also  an   active   participant   of   food   fairs,   food   exhibitions   and  festive  events.  The  presence  of  Loong  Kee  is  definitely  an  influence  to  Tuck  Kee  as  they  many  varieties  of  not  only  dried  meat  but  also  pastries.    

             

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b) Oloiya   is  one  of   the  dominant  company   in   this   industry  since   the   early   70s   and   has   never   fail   to   impress   their  customers   in   the   sense   of   not   only   the   quality   of   their  product   but   also   the   price   and   the   service   they   have  provided.   Although   there   are   only   2   outlets   in   Penang,  which  is  one  in  Penang  Island  and  Butterworth,  they  are  never   any   worse   than   their   competitors   due   to   their  popularity   and   quality   they   have   provided   to   their  customers.   Their   main   product   would   be   chicken   dried  meat   and   that   is   also   their   best   seller   because   they   are  the   first   shop   in  Malaysia   to   actually   sell   chicken   dried  meat.   They   also   have   a   huge   variety   of   dried  meat   and  pastries  that  makes  them  one  of  the  best  dried  meat  store  in  Malaysia.  Oloiya  has  been  on  the  top  list  in  this  field  for  decades  and  it  is  a  huge  competitor  for  Tuck  Kee.        

c) Bak  Kueh  Eng   is  not  a  chain  nor  a   franchise   like  Loong  Kee   or   Oloiya.   It   is   a   small   shop   just   like   Tuck  Kee   and  they  grill  their  dried  meat  not  like  the  big  chain’s  where  they  have   factory  but   in   their  own  shop.  The   location  of  this  shop  is  in  Lebuh  Cecil,  Georgetown.  The  product  they  are  selling  are  more  or  less  the  same  like  Tuck  Kee  except  they  also  sell  Roasted  Pork  which  give  them  a  huge  boost  to  their  business.  Although  it  is  just  a  small  business,  it  is  also  a  competitor  to  Tuck  Kee  due  to  the  loyal  customers  they  have  and  also  the  quality  they  give  to  them.                                  

                   

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OLOIYA    

a) Bee   Cheng   Hiang   is   a   well   known   or   arguably   the   biggest  dried  meat   chain   originated   from   Singapore   and   it   has  many  branches   all   around   Asia   including   Korea   ,   China   ,   Malaysia   ,  Macau  ,  Thailand  ,Philippines  ,  Indonesia  ,  Taiwan  ,  Hong  Kong  and  of  course  Singapore.  This  dried  meat  store  start  since  the  1930’s   and   has   been   tremendously   famous   ever   since.   Bee  Cheng  Hiang  has  existed  for  almost  90  years  and  not  only  they  are  maintaining  what  they  already  provide  but  also  expand  and  grow   their   business   in   very   well.The  main   products   that   are  keeping  this  business  growing  is  their  dried  meat,  meat  floss   ,  chinese   sausages   ,   mooncakes   and   some   snack   like   grilled  cuttlefish.   It   currently  has  more   than  200   stores   in   the  world  and   still   growing.   A   business   like   Bee   Cheng   Hiang   is   truly   a  huge   competitor   to  Oloiya   as   they   are   recognized  worldwide.  Oloiya’s   director   even   mentioned   that   Bee   Cheng   Hiang   is   a  company  that  he  truly  admire  by  their  way  of  organising  their  business   and   how   they   grow   it.   Even   their   price   is   expensive  but   there  are  also   customers   that  are  willing   to  pay   the  price  for  what  they’re  getting  in  Bee  Cheng  Hiang.    

b) Wing  Heong  is  a  dry  meat  chain  that  has  6  stores  all  located  in  Klang   Valley.  Wing  Heong   is   founded   in   the   early   1970’s   and  has  expanded   to  6  stores     from  then.  The  main  products   they  are  selling  is  chicken  ,  beef  and  pork  dried  meat.  Although  it  is  not  a  very  big  chain,  it  is  also  a  competitor  to  Oloiya  due  to  the  loyal  customers  Wing  Heong  has  already  attracted  throughout  the  years.      

 c)  Loong  Kee  is  one  of  the  main  competitors  to  Oloiya  due  to  the  size   of   their   business   they   have   expanded   throughout   the  years.  It  has  been  founded  for  almost  40  years  and  has  already  been  a  competitor  to  Oloiya  since  Oloiya   is   founded.  Although  they  have  been  around  for  awhile  and  selling  almost  the  same  product  for  many  many  years  but  they  have  their  own  unique  way   of   attracting   customers.   Even   though   they   are   strong  

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competitors  Oloiya’s  director  did  mention  that  they  compete  in  a   fair   manner   and   they   have   never   sabotage   each   other   in  anyway.        

   

4. TUCK  KEE  -­‐ Mr.  Chong  claim  that  he  lower  the  price  of  his  dried  meat  to  compete  with  his  competitors.    

-­‐ Mr.   Chong   encourages   his   employees   to   spent   time   with  their   customer   to   receive   feedback   for   them   to   reflect   and  make   their   product   better.   Besides   getting   face   to   face  feedback,   he   also   get   feedback   from   social   media   example  like  Facebook.    

-­‐ Mr.   Chong  will   have   annual  meeting  with   his   employee   to  create  new  dried  meat   flavor  or  other   related  product   and  promote  their  new  product  on  social  media.    

                                     OLOIYA    -­‐ New  product  are  produce  every  year  or  on  special  event  like  Mother’s  Day,  Chinese  New  Year  and  etc.    

-­‐ Oloiya  is  the  first  dried  meat  shop  that  use  chicken  to  make  dried  meat  this  make  Oloiya  very  special.    

-­‐ Marketing  department  of  Oloiya  also  promote  themselves  in  social  page  like  Groupon,  Facebook  and  etc.    

 5. To   enter   the   dried   meat   market   according   to   both   of   the  

interviewee  back   in   the  80s   is  easy  as   long  as  you  have  money  you  can  start  a  dried  meat  shop  but  these  day  you  need  to  have  large  amount  of  capital.  One  of  the  obstacle  being  point  out  from  the   Executive   Director   form   Oloiya   is   strict   qualification   from  the  government  for  new  businesses  to  enter  the  market.  Besides  strict  qualification,  nowadays   is  not  easy   to  make  bank   loan  as  bank  required  high  requirement  to  give  bank  loan.    

       

 

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6. Nature  of  the  market      

-­‐  Tuck   Kee   Dried  Meat  &  Meat   Floss   is   an   oligopoly  market,  which   is  dominated  by  a  few  sellers.  Tuck  Kee  is  protected  by  strong  barriers  to  entry  as   it  resembles  a  significant  role   in  the  market  and   it  has  a  wide  source   of   customers   that   mostly   emphasis   in   the   original   customers.  Tuck  Kee  also  has  high  popularity  among  the  local  residents  and  is  also  famous   for   the   foreigner   tourists.  Tuck  Kee   also  provided  high  quality  standardized   products.   It   is   considered   as   price   taker   because   it   does  not  affect  the  market  price  if  it  increases  the  price  of  its  products,  which  in  turn  will  lose  its  customers  due  to  the  increasing  in  price.    -­‐   In  the  other  hand,  Oloiya   is  an  oligopoly  market,  which  is  dominated  by  a   few  strong  competitors   in   the  range  of  2   to  10   large   firms.  Oloiya  has   the   biggest   share   of   the   market   that   is   more   that   a   half   with   an  approximate  percentage  to  55%  of  the  market  shares.  It  is  protected  by  strong  barriers  as   it   required  a  huge  capital   for   the  new  businesses   to  enter  the  market  and  it  is  economy  stable  in  the  market  and  has  a  high  position  in  the  market.  It  is  considered  as  price  maker  as  it  has  launched  a   lot  of  special  self-­‐invented  products   that  can  only  be   found   in  Oloiya  such  as  gold  coin  ham  and  chicken  dried  meat,  lovely  heart  dried  meat,  bacon   slice   (blooming   beauty   ham),   Hakka   style   duck   dried  meat,   old  style   burger   and   other   products.   Oloiya   often   do   advertising   for   their  new  brand   products,   launching   new  products   according   to   the   season  and  also  held  special  events  constantly.    

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 7. Summary  table    

 

 

 Competitive  Traits  

 Tuck  Kee  Dried  Meat  &  Meat  Floss  (Pulau  Penang-­‐Based)  

 Oloiya  (Klang  Valley-­‐Based)  

1.  Number  of  Competitors      

In  range  5  to  10  competitors   In  range  10  to  50  competitors  

2.  Barrier  to  Entry                  

Protected  by  strong  barriers  to  entry.  Because  this  is  an  old  historical  shop.  Thus,  they  have  many  original  customers  and  won  high  popularity  in  the  local  and  tourisms.  

Protected  by  strong  barriers  to  entry.  Because  it  has  a  very  stable  economy  status  and  is  well  equipped  with  advanced  technology  for  the  efficiency  production.  

3.  Differentiated  or  Standardized  Products                  

Standardized  products.      

Differentiated  products.  -­‐  Gold  coin  ham  &  chicken  dried  meat  -­‐  Lovely  heart  dried  meat  -­‐  Bacon  slice  (Blooming  beauty  ham)  -­‐  Hakka  style  duck  dried  meat  -­‐  Old  style  burger  

4.  Pricing  Power                      

Price  Taker  -­‐  Because  the  price  that  he  sets  does  not  bring  any  affect  to  the  market  price  instead  he  will  lose  plenty  of  customers  as  the  demand  will  decrease  when  the  price  increase.  (Refer  to  the  demand  theory)  

Price  Maker  -­‐  Because  it  has  many  types  of  special  products  that  is  self-­‐invented.  Thus,  they  can  set  the  price  by  themselves  because  the  customers  only  can  find  these  specific  products  at  their  shop.  

5.  Other  Characteristics                    

Many  close  products  substitutes,  inconstant  advertising,  rarely  having  promotions  for  the  products  and  rarely  invented  special  season  products.  

No  close  products  substitutes,  mutual  dependence,  constantly  advertisements,  holding  promotions  for  special  events  constantly,  often  invented  special  season  products  and  launching  new  products  annually.  

6.  Verdict      

Oligopoly   Oligopoly  

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8. Based  on  our  analysis,  Oloiya  would  be  more  commercially  successful  business.  One  reason  is  that  Oloiya  is  a  very  well-­‐known  Brand  in  all  over  Malaysia.  Oloiya  have  special  product  that  cam  attract  people  ,  example  heart  shape  dried  meat  ,  and  chicken  flavor  dried  meat  ;  Tuck  Kee  only  have  all  standardized  product  .    

 

 Recommendation    Tuck  Kee  Dried  Meat  

• Since   this   ‘Tuck   Kee   Dried   Meat’   shop   is   only   well   known   in  Penang.   We   had   suggested   that   the   shop   should   make   more  advertising,   creating   an   official   website   and   promotional  campaigns   to   promote   their   products   all   over   the   Malaysia  especially   the   place   which   is   significant   with   Chinese   as   dried  meat   is   origin   from   Chinese   culture.   If   ‘Tuck   Kee   Dried   Meat’  makes  a  strong  advertising,  people  will   feels   it’s  a   lost   if   they  do  not  buy  the  dried  meat  when  they  reach  Penang,      

• Due   to   there   are  only   less  product  been   sold   in   the   shop,   in  our  opinion,   we   would   recommend   Mr.   Chong   to   invent   more  products.  This  is  because  customers  will  feel  bored  if  people  keep  on   buying   the   same   product.   If   a   new   product   launched,   people  will   feels   fresh   and   this   can   enhance   the   revenue   of   ‘Tuck   Kee  Dried   Meat’.   So,   the   owner   can   invent   new   products   that   never  been  in  the  market  to  attract  costumer.      

• Everyone  knows  Penang  has   a   serious   traffic   jam   just   like  Kuala  Lumpur.  If  Mr  Chong  can  create  also  a  delivery  service  and  online  shopping  just  like  the  huge  companies  such  as  IKEA,  Tesco  and  so  on.  These  companies  will  always  make  their  customers  at  first  and  let   customers   buy   their   product   in   the   fastest   and   easiest   way.  Hence,  if  Mr.  Chong  can  also  apply  these  services  into  his  business,  it  will  comes  a  large  of  profit  to  ‘Tuck  Kee  Dried  Meat’  too.  

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Oloiya  Dried  Meat  • Oloiya  is  been  a  very  success  dried  Meat  Company  in  Malaysia  but  out  of  Malaysia,  no  one  recognize  Oloiya.   It   is  an  opportunity   for  Oloiya   for   them   to   step   themselves   into   Asia   Pacific   such   as  Thailand,   Vietnam,   China   and   Singapore   as   those   countries   are  non-­‐halal  countries  and  also  concentrated  by  Chinese.  But  at  first,  Oloiya   must   have   branches   and   makes   advertising   in   those  countries   for   people   to   know  more   about  what   is   dried  meat   as  those  countries  know  nothing  about  dried  meat.      

 • Based  on  our  knowledge  after  interviewing  Oloiya,  they  have  not  enough   of   capital   for   them   to   enlarge   their   companies.   It   is   an  obstacle   for   them   to   step   themselves   into   Asia   Pacific.   In   my  opinion,  I  suggest  them  to  list  their  company  on  Bursa  Malaysia  to  gain   capital   from   others   but   this   decision   had   to   gain   approval  shareholders.   Maybe   Oloiya   is   a   family   business,   they   will   not  willing   to   sell   their   shares   to   public   but   if   the   mastermind   can  convince   the   shareholders,   I   think   those   shareholders   will  approve  to  carry  their  business  into  whole  Asia  Pacific.    

• Inventing   new   product   without   pork   is   a   success   step   into   the  market   due   to   in   Malaysia   majority   of   it   are   Malay   but  unfortunately,  those  product  never  get  verified  by  halal.  If  Oloiya  want  to  carry  themselves  into  Asia  Pacific,  at  first,  they  have  to  get  verified   by   halal   as   most   of   the   countries   are   Islamic   countries  such   as   Indonesia,   Brunei   and   Philippine.   If   Oloiya’s   dried  meat  able  to  get  verified  by  halal,  they  step  into  those  countries.          

 

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Video Link Part 1 https://www.youtube.com/watch?v=SS6zDDUoKV0 Brief Bio of Businesses Part 2 https://www.youtube.com/watch?v=msI56HzK8AQ Comparative of Businesses Part 3 https://www.youtube.com/watch?v=m8bie1BkGnI Recommendation of Businesses

REFERENCES

Oloiya Dried Meat. (n.d.). Retrieved May 5, 2015, from http://www.oloiya.com/ Tuck Kee Dried Meat & Meat Floss (德 肉干) @ Pulau Tikus. (2012, March 25). Retrieved May 8, 2015, from http://www.jeremee89.com/2012/03/tuck-kee-dried-meat-meat-floss-德 肉干-pulau-tikus/ Oloiya Dried Meat. (n.d.). OLOIYA. Perraton, G. (2006). Food & technology (2nd ed.). Milton, Qld.: John Wiley & Sons. Brozen, Y. (1975). The competitive economy: Selected readings. Morristown, N.J.: General Learning Press. Goldsmith, H. (1989). Import/export: A guide to growth, profits, and market share. Englewood Cliffs, N.J.: Prentice Hall.