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Chapter 7 : Researching Global Markets

Chapter 7 : Researching Global Markets. Marketing Research Building The Knowledge Base. Breadth and scope of international marketing research. Greater uncertainties in global markets. Marketing research defined :.

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Chapter 7 : Researching Global Markets

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  1. Chapter 7 : Researching Global Markets Marketing Research Building The Knowledge Base • Breadth and scope of international marketing research. • Greater uncertainties in global markets. • Marketing research defined : “Marketing Research is the function which links the consumers and customers to the organization through information; information used to identify and define marketing problems; generate, refine and evaluate marketing actions; monitor marketing performance; and improve our understanding of marketing as a process” AMA 1987

  2. Role of Marketing Research • Reduction of uncertainty and facilities management decision making Information for : • Planning (Market entry strategies) • Problem Solving • Control Nature of Marketing Research • Applied research • Cost-benefits assessment • Dynamic environment and need for frequent updates

  3. Stages in the Research Process Formulate Problem Determine Research Design Determine Data Collective Method Design Data Collection Forms Design Sample and Collect Data Analyze and Interpret the Data Prepare the Research Report

  4. Type of Data Needed for International Marketing Research • Secondary data • Internal • External • Published • Commercial Advantages and Disadvantages of Secondary Data • Availability • Reliability • Compatibility of data • Validation of secondary data • Outdated

  5. Gathering Primary Data • Types of primary data • Socioeconomic / demographic data • Attitudes / Options • Awareness / knowledge • Intentions • Motivations • Behaviors • Qualitative (V.S) Quantitative • Surveys (V.S) Observations

  6. Survey Research • Personal interviews • Mail Surveys • Telephone interviews • Mall intercept interviews • Internet : new opportunity for data collection Observation • Human • Mechanical Devices

  7. Development of Survey Instrument • Structured (V.S) Unstructured • Disguised (V.S) Undisguised Qualitative Research • Disguised and Unstructured • Word Association • Sentence Completion • Story Telling • Focus Groups

  8. Sample Design and Issues • Non probability samples (Finding not generalizable) • Probability samples • Types of probability samples • Issues related to probability samples • Lack of sampling frame • Outdated sampling frame (Street and Telephone directories) • Validation of random samples

  9. Data analysis and inferences • Univariate Data Analysis • Bivariate Data Analysis • Multivariate Data Analysis • Choice of Data Analysis Techniques • Non-parametric (V.S) Parametric methods • Statistical Software Packages for Data Analysis • Geographic Information Systems (GIS)

  10. Estimating Market Demand • Expert opinion • Delphi method • Analogy • Use of quantitative techniques • Income elasticity Assessment of Country Attractiveness • Market potential / size • Business climate • Political stability / risk

  11. The Research Report • Written Report • Communication with the reader • Accuracy and completeness • Form of Report • Title page • Table of contents • Executive summary • Introduction / problem statement • Methodology • Findings • Conclusions and recommendations • Appendix • Oral Report • Use of powerpoint and graphics

  12. Useful References • Susan P. Douglas and C. Samuel Craig (1983) : International • Marketing Research , Prentice Hall • Gilbert A. Churchill Jr. (1999) : Marketing research : • Methodological foundations , seventh edition, Dryden Press Select International Marketing Research Websites • World Opinion: www.worldopinion.com • European Society for Opinion and: www.esomar.nl • Marketers • Market Research Society (U.K) : www.marketresearch.org.uk • Mexican Association of Investigation: www.amai.org • agencies • Market Research Society of Australia: www.mrsa.com.au • Professional Marketing Research Society: www.pmrs-aprm.com

  13. Select Websites for Secondary Data • U.S Department of Commerce : www.stat-usa.gov • American Demographics : www.marketingtools.com • American Marketing Association : www.ama.org • U.S Bureau of Census : www.census.gov • Bureau of Economic Analysis : www.bea.doc.gov • BLS Consumer Expenditure Surveys :http://stats.bls.gov/esxprod.htm • International Trade Administration : www.ita.doc.gov • World Trade Analyzer : www.tradecompass.com/trade.analyzer • The European Union : www.eurounion.org • Organization for Economic Cooperation and : www.oecd.org • Development • Wisconsin Department of Commerce • : www.commerce.state.wi.us/com-international.html • Company Information:www.hoovers.com.annualreportservice.com • Michigan State U. ciber : www.ciber.bus.msu.edu/busres.htm

  14. Select On-Line Marketing Research Vendors • www.researchconnections.com • www.greenfieldonline.com • www. focusgroups.com • www. yankelovich.com • www.surveysampling.com • http://jetro.go.jp • www.worldtrademag.com See the appendix on secondary data (Appendix A-C; PP.274-281) Good Search Engines • Infoseek www.infoseek.com • Excite www.excite.com • Yahoo www.yahoo.com • Altavista www.altavista.com

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