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ECONOMIC ENVIRONMENTAL SCANNING AND MARKETING RESEARCH

ECONOMIC ENVIRONMENTAL SCANNING AND MARKETING RESEARCH. Economic institutions Levels of trade integration Marketing Research. Economic Institutions. World Trade Organization (WTO) World Bank International Monetary Fund (IMF). Levels of International Economic Integration. Text, p. 158.

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ECONOMIC ENVIRONMENTAL SCANNING AND MARKETING RESEARCH

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  1. ECONOMIC ENVIRONMENTAL SCANNING AND MARKETING RESEARCH • Economic institutions • Levels of trade integration • Marketing Research MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 1

  2. Economic Institutions • World Trade Organization (WTO) • World Bank • International Monetary Fund (IMF) MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 2

  3. Levels of International Economic Integration Text, p. 158 Political Union Economic Union Common Market Free Trade Area Preferential Trading Agreement (Tariff concessions on select items) Increasing Integration (Free trade among members) (Common External Trading Policy) (Harmonization of economic policies) (Complete political and economic integration) MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 3

  4. Levels • Preferential Trading Agreement • Free Trade Area • Customs Union • Common Market • Economic Union • Political Union MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 4

  5. MARKETING RESEARCH: COUNTRY AND CONSUMER • Country research • Primary vs. secondary marketing research • Issues in secondary marketing research • Sources • “Hard” vs. “soft” data • Reliability • currency • credibility • comparability • Cost • Primary research methods MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 5

  6. Political Stability Terrorism Physical Environment Climate Infrastructure Sociocultural environment Economic environment Regulatory environment Country Research Issues MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 6

  7. Some Sources of Information --Books and Indices • World almanacs • Statistical Abstracts of the United States • Government publications • Country-specific books MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 7

  8. Heavily internationally focused Economist Journal of Commerce Forbes Business America (U.S. Dept. of Commerce) World Press Review Some international coverage Wall Street Journal, New York Times, Washington Post Business Week, Fortune Time, Newsweek Useful Periodicals MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 8

  9. Other • Academic country specialists (e.g., anthropologists, economists) • Consultants • Expatriates • Own experience MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 9

  10. “Hard” data--usually quantitative--examples: Gross national product Per capita expenditure on food Average number of years of school completed by population Product penetration levels (e.g., percentage of households having microwave ovens) “Soft” data Country history Laws and enforcement--theoretical vs. reality Culture and tradition “How things are done” Meaning of behaviors--why are people late? Attitudes toward products/motivations for usage “Hard” vs. “Soft” Data MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 10

  11. Data Availability and Reliability • Availability/ ability to collect data • Motivations for releasing data • Wishful thinking vs. reality • The Web--accessible to any fool or group • Comparability of data/Arbitrary differences in measurements • Recency--is the data up-to-date? MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 11

  12. Cost of Data • Much “raw” data is free from • U.S. Gvt. • United Nations • Research institutions • Commercial directories • Consulting services MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 12

  13. Some Cultural Variables Among Countries • Religion • Value system • Norms • Aesthetics • Language MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 13

  14. International Marketing Research Process Text, p. 200 Problem Identification Preparation of Research Design Selection of Research Method(s) Primary Data Collection Determination of Information Requirements Analysis Info Source Identification (Primary and Secondary) Evaluation and Interpretation MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 14

  15. Construct Functional—how product is used Conceptual—interpretation of objects Classification/ categorization Measurement Calibration (e.g., number of scale points) Translation (e.g., specificity of family relationship terms) Sampling Comparability Representativeness of population Data analysis Equivalences in International Market Research MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 15

  16. Social desirability/ willingness to “stand out” ---> need to adjust data Willingness to criticize products Familiarity with being surveyed Language/translation New technologies (e.g., scanner data) --usually less well developed than in the U.S. Reachability of respondents Selection of appropriate respondent Issues in Primary Research MKTG 769 ENVIRONMENTAL SCANNING Lars Perner, Instructor 16

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