Developing a Global Vision Developing a Global Vision through Marketing through Marketing

ResearchResearch

International Marketing International Marketing ResearchResearch• What is marketing research?What is marketing research?• Why is it important?Why is it important?• International elementInternational element

Marketing Research Marketing Research OverviewOverview• Three kinds of informationThree kinds of information

– General infoGeneral info– Environmental information to forecast Environmental information to forecast

future buyingfuture buying– Marketing mix in specific marketMarketing mix in specific market

Breadth and scope of Breadth and scope of International MarketingInternational Marketing• General Information about General Information about

country/market.country/market.• Information to forecast future Information to forecast future

marketing requirements.marketing requirements.• Specific market information to make Specific market information to make

product, promotion, distribution product, promotion, distribution decisions & develop marketing plans.decisions & develop marketing plans.

Information required in Information required in International Marketing International Marketing DecisionsDecisions• Economic & DemographicEconomic & Demographic• Cultural , sociological & politicalCultural , sociological & political• Overview of market conditionsOverview of market conditions• Summary of technological Summary of technological

environmentenvironment• Competitive situationCompetitive situation

International Product International Product ResearchResearch

• Concept development Concept development and testing studies and testing studies

• Brand name generation Brand name generation and testingand testing

• Product testing Product testing • Competitive product studies Competitive product studies • Packaging design studies Packaging design studies • Test marketingTest marketing

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International Pricing International Pricing ResearchResearch• Studies projecting demandStudies projecting demand• Studies of inflation rates and pricingStudies of inflation rates and pricing• Studies of negotiation tacticsStudies of negotiation tactics

Marketing Research ProcessMarketing Research Process• Define the Problem/Opportunities & Establish Define the Problem/Opportunities & Establish

Research ObjectivesResearch Objectives• Determine the Sources of Information to Fulfill Determine the Sources of Information to Fulfill

ObjectivesObjectives• Consider the Costs & Benefits of Research Consider the Costs & Benefits of Research

EffortEffort• Gather Relevant Primary or Secondary DataGather Relevant Primary or Secondary Data• Analyze, Interpret, and Summarize the ResultsAnalyze, Interpret, and Summarize the Results• Effectively Communicate the Results to Effectively Communicate the Results to

Decision-MakersDecision-Makers

Define Problem & Define Problem & ObjectivesObjectives• Unfamiliarity with environmentUnfamiliarity with environment• Need more informationNeed more information

Define Problem & Define Problem & ObjectivesObjectives

Sources of InformationSources of Information• 1. Secondary sources1. Secondary sources

– AvailabilityAvailability– ReliabilityReliability– ComparabilityComparability– Validating the InformationValidating the Information

• Conceptual EquivalenceConceptual Equivalence – Concepts have different meanings in Concepts have different meanings in

different cultural environmentsdifferent cultural environments • Functional EquivalenceFunctional Equivalence

– Products themselves may be used for Products themselves may be used for different purposes in different country different purposes in different country environmentsenvironments

Sources of InformationSources of Information• 2. Primary sources2. Primary sources

– i. Quantitative Researchi. Quantitative Research

• 2. Primary Research2. Primary Research– ii. Qualitative Researchii. Qualitative Research

• Primary Research Approaches:Primary Research Approaches:– In-person surveys and interviewsIn-person surveys and interviews– Phone surveys and interviewsPhone surveys and interviews– Online surveysOnline surveys– Focus groupsFocus groups

• ProblemsProblems– Ability to communicateAbility to communicate– Willingness to respondWillingness to respond– Sampling in field surveys Sampling in field surveys – Language and comprehensionLanguage and comprehension

• Back translationBack translation• Parallel translationParallel translation

Sources of DataSources of Data

Other ResearchOther Research• Multicultural ResearchMulticultural Research• Internet ResearchInternet Research

– Online surveys & buying panelsOnline surveys & buying panels– Online focus groupsOnline focus groups– Web site trackingWeb site tracking– Advertising measurementAdvertising measurement– Customer ID systemsCustomer ID systems– Email marketing listsEmail marketing lists

Estimating Market DemandEstimating Market Demand• Two ApproachesTwo Approaches

– Expert opinion: Expert opinion: – Analogy: Analogy: Assumes that demand for a product Assumes that demand for a product

develops in the same way in all countries, as develops in the same way in all countries, as comparable economic development occurs in each comparable economic development occurs in each countrycountry..

Interpreting the DataInterpreting the Data• Recognize LimitationsRecognize Limitations• Multicultural Marketing Researchers Multicultural Marketing Researchers

must exhibit:must exhibit:– Cultural understandingCultural understanding– Adaptation abilityAdaptation ability– Skepticism of dataSkepticism of data