GLOBAL MARKETING RESEARCH V Kumar 1 Dr V
GLOBAL MARKETING RESEARCH V. Kumar 1 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
CHAPTER 3 Global Marketing Research Process 2 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Chapter Outline q q q Be familiar with the various stages of the global marketing research process Recognize the problem or opportunity analysis of the research process Recognize the decision alternatives Understand the importance of unit of analysis in global marketing research Develop an understanding of the research designs Identify the need for global marketing research in today's global economy 3 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Global Marketing Research Process 4 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Research Objective The first step in the research process is to decide why the research should be done – the research purpose. The Research Purpose includes: § Problems or Opportunities to be studied § Decision Alternatives to be evaluated § Users of the research results 5 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Problem or Opportunity Analysis Research is often motivated by a problem or an opportunity q Different problems or opportunities often faced by companies include: § § Plan to enter a foreign market Losing market share to competition 6 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Decision Alternatives The research purpose can be clarified by asking the following questions: What are the alternative actions being considered? q What are the possible actions that can be taken? q 7 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Information Requirement Research Objective • A concise statement of what information is needed. Research Question • Asks what specific information is needed to achieve purpose of research. 8 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Unit of Analysis Definition: Basic unit considered in statistical Basic Unit considered in the statistical analysis. Macro-Level Units: Compromised of larger segments Ex: Countries and Cities Micro-Level Units: Compromised of smaller segments Ex: Firms, customers and specific market segments 9 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Data Availability Secondary Data: Data collected by someone other than the user. The primary uses of secondary data in Global Marketing Research are: • Selecting markets that merit in-depth investigation • Making initial estimate of demand potential • Monitoring Environmental Change Note: Secondary Data can be inaccessible, outdated and inaccurate 10 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Research Design Exploratory Research • Used when one seeks insights into general nature of problem, decision alternatives, and relevant variables Descriptive Research • Provides an accurate snapshot of a certain aspect of the market environment Causal Research • Provides evidence that two variables are related and that one variable has an effect on the other. 11 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Issues in Primary Data Collection Are the constructs equivalent? Are the equivalents measured the same way? Are the samples equivalent? 12 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Types of Equivalence 13 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Qualitative Methods Observational Methods • Based on watching how respondents behave Projective Techniques • Require the respondents to perform a specific task Interviews • Requires the respondent to verbalize his/her opinion 14 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Scales used in Questionnaire Design Nominal Scale • Objects are assigned to mutually exclusive labor categories • Ex: Sec, geographic location, marital status Ordinal Scale • Objects are ranked in certain order with regard to some variable Interval Scale • The numbers used to rank the objects also represent equal increments of the attribute being measured. • Ex: Fahrenheit and Celsius temperatures Ratio Scale • Modified interval scale with a meaningful zero point 15 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Sampling Two main steps in sampling: q Determine the level at which sampling is to be collected q Decide the sampling frame Two major forms of sampling: q Probability Sampling ( Ex: random, stratified, cluster) q Non-Probability Sampling ( Ex: convenience, judgmental, quota) 16 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Data Analysis Prepare the Data Examine Reliability of Data Conduct within-country and across-country analysis Interpret and Present the Results 17 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Need for Global Marketing Research Defining the research problem accurately is probably the most important step in any marketing research project, and even more so in global marketing research. 18 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Growing Market Complexity The interconnectedness of today’s world presents the challenge of developing innovative techniques to combat the effects of an evolving business environment. Some challenges that CMO’s face include: q q Data Explosion Social Media Proliferation of channels and devices Shifting consumer demographics 19 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Applied Market Knowledge - Knowledge of the respective market, will help navigate in an environment. - Cultural differences will play role in message acceptance. Examples where this could arise: q Differences in market opportunities q Differences in decision making q Variations in meaning q Variations in consumption patterns 20 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Blurring of Product Categories Many times when products are introduced, they can fall into multiple categories. Ex: • Sports and Energy drinks • Tablets and Smartphones 21 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Coordinating Planning and Research Deciding which markets to enter and in what order q Identifying market-mix q Gathering knowledge about uncontrollable elements (ex: economy, culture, infrastructure) q 22 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Cultural Factors Subcultural Aspects which marketers should pay close attention to are: • Race • Religion • Geography • Age • Gender 23 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Shortened Product Development Cycle An efficient product development process is essential to avoid failure in the market. Important Fact: About 95% of new products introduced every year fail. 24 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
Parameters to focus on when entering foreign markets Available market opportunities for product q Standardization vs. Adaptation q Positioning of Product q 25 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
End of Chapter 3 26 © Dr V. Kumar (www. drvkumar. com/gmr) Global Marketing Research
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