Developing a Global Marketing Vision Through Marketing Research
Defining the Issue
• What is marketing research?
– “systematic and objective identification of information, collection, analysis and dissemination of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing”
Differences with Domestic Research
- New parameters
- New environments
- More factors to consider
- More competitors
Recognizing the Need for Research
• Reasons that executives may view international research as unimportant:
– Lack of sensitivity to differences in consumer tastes and preferences. – Limited ...view middle of the document...
Douglas and C. Samuel Craig, International Marketing Research, Copyright 1983, p.32. Reprinted by permission of Prentice Hall, Inc., Englewood Cliffs, New Jersey.
IV. Data Sources - a wide variety are available. V. Advantages of Secondary
- Fast - Inexpensive - Can aid in further research
Secondary information requirements
• What do you really need to know?
– Was sufficient research conducted to answer the research question(s)? – Is macro data sufficient or will micro data be required to complete the market assessment and selection? – What market restraints are present ? – Is knowledge of international accords required? – Is specific product data necessary for marketing mix determination?
VI. Disadvantages of Secondary Data
- May not be accurate - Difficult to trace methodology - Data becomes quickly outdated - Not collected for specific task at hand
Sources of Data
– Departments of Commerce, Agriculture, State, Treasury, and U.S. embassies abroad
• International organizations
– United Nations’ Yearbook, World Bank’s World Atlas, Organization for Economic Cooperation and Development (OCED) and World Trade Organization (WTO) publications
• Service organizations
– Banks, accounting firms, freight forwarders, airlines, and international trade consultants
The Research Process
Major Sources of Secondary Data
U.S. DEPARTMENT OF COMMERCE Foreign Trade Report: U.S. exports by commodity and by country Global Market Surveys: Global market research on targeted industries INTERNATIONAL MONETARY FUND International Financial Statistics: Monthly report on exchange rates, inflation, deflation, country liquidity, etc. UNITED NATIONS Statistical Yearbook: Population, production, education, trade, etc. THE ECONOMIST E.I.U. World Outlook: Forecasts trends for 160 Countries Marketing in Europe: Product markets in Europe
• Who collected the data ? Would there be any reason for purposely...