Developing a Global Vision through Marketing Research Chapter

Developing a Global Vision through Marketing Research Chapter 8

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

Marketing Research Overview • Three kinds of information – General info – Environmental information to forecast future buying – Marketing mix in specific market

Marketing Research Process • Define the Problem & Establish Research • • • Objectives Determine the Sources of Information to Fulfill Objectives Consider the Costs & Benefits of Research Effort Gather Relevant Primary or Secondary Data Analyze, Interpret, and Summarize the Results Effectively Communicate the Results to Decision. Makers

Define Problem & Objectives • Unfamiliarity with environment • Need more information

Secondary Data • Availability • Reliability • Comparability • Validating the Information

Primary Data • Quantitative v. Qualitative • Problems – – Hard to explain usefulness Willingness to respond Sampling in field surveys Language and comprehension • Back translation • Parallel translation • Decentering

Other Research • Multicultural Research • Internet Research – – – – Online surveys & buying panels Online focus groups Web site tracking Advertising measurement Customer ID systems Email marketing lists Embedded research

Estimating Market Demand • Two Approaches – Expert opinion – Analogy

Interpreting the Data • Recognize Limitations • Multicultural Marketing Researchers must exhibit: – Cultural understanding – Adaptation ability – Skepticism of data

Responsibility for Conducting Research • Decentralization • Communication channels within company