Chapter 8 Analyzing People and Markets

1. Chapter 8 Analyzing People and Markets

2. Defining the Issue • The American Marketing Association defines market research as: • Information is used to:

3. International and Domestic Research • Four primary differences are: • New parameters • New environment which involves understanding:

4. International and Domestic Research • Number of factors involved are:

5. International and Domestic Research • Broader definition of competition is faced when entering the international market • The firm must determine:

6. Recognizing the Need for Research • Entering a market without conducting marketing research places firms, their assets, and their entire operation at risk • Firms are reluctant to engage in international marketing activities due to:

7. Recognizing the Need for Research • International marketing research is important because it:

8. Recognizing the Need for Research • Helps to develop a marketing plan • Provides management with foreign market intelligence

9. The Benefits of Research • The value of research in making a particular decision may be determined by applying the following equation: V(dr) – V(d) > C(r) Where: • V(dr) – • V(d) – • C(r) –

10. Determining Research Objectives • Research objectives vary from firm to firm due to: • Information needs are linked closely with the level of international expertise in the firm

11. Going International: Exporting • Foreign market opportunity analysis: • Broad-brush approach to narrow down international marketing activities

12. Going International: Exporting • Approach should begin with cursory analysis of:

13. Going International: Exporting • Information on individual market data to identify: • Consideration of governmental restrictions

14. Going International: Exporting • Competitive assessment that:

15. Going International: Importing • Firms shift their focus from supplying to sourcing • Importer needs to be aware of:

16. Market Expansion • Obtaining detailed information for penetrating a market • Designing and fine-tuning the marketing mix • Monitoring the political climate of a country

17. Determining Secondary Information Requirements • Secondary data for international marketing research can be procured from:

18. Determining Secondary Information Requirements • Evaluating data • Consider the quality of the data source, with primary focus on: • Assess the quality of actual data in terms of:

19. Determining Secondary Information Requirements • Analyzing and interpreting secondary data • Requires combination and cross tabulation of various sets of data or the use of proxy information to: • Proxy variable:

20. Determining Secondary Information Requirements • Data privacy • The international marketer must pay careful attention to:

21. The Primary Research Process • Primary research is conducted to fill specific information needs • It is essential for the formulation of strategic marketing plans • It is useful in international market segmentation

22. The Primary Research Process • Firms recognize that segmentation variables play a major role in: • Determining information requirements • Industrial versus consumer research

23. The Primary Research Process • Determining research administration approaches: • Centralized – • Research specifications:Focus, thrust, and design are directed by the home office followed by:

24. The Primary Research Process • Coordinated – • Decentralized –

25. The Primary Research Process • Outside research services • The use of the research agencies are appropriate: • The selection process should emphasize the quality of information rather than the cost

26. The Primary Research Process • Determining the research technique depends on a variety of factors

27. The Primary Research Process • Types of research instruments • Interviews – • Focus groups –

28. The Primary Research Process • Observation

29. The Primary Research Process • Quantitative research technique • Surveys • Reasons why new product development information should not rely on consumer surveys are:

30. The Primary Research Process • Allows the researcher to rapidly accumulate a large quantity of data amenable to statistical analysis • International comparative research has been carried out between nations:

31. Designing the Survey Questionnaire - Question Format • Structured questions: • Unstructured or open-ended questions: • Direct or indirect questions:

32. Designing the Survey Questionnaire - Question Format • Data equivalence: • Question content

33. The Primary Research Process • Question wording • Omit leading questions or asking questions in specific terms to: • Translation-re-translation approach: • Pretest the survey

34. The Primary Research Process • Developing the sampling plan • Data collection • Conduct spot checks and realism checks on the administration procedure to:

35. The Primary Research Process • Collected data should be compared with secondary and analogous information to:

36. Analyzing and Interpreting Primary Data • Use the most appropriate and best available tool for: • Avoid over sophisticated tools for unsophisticated data

37. The Primary Research Process • Presenting research results

38. The Primary Research Process • Follow-up and review • Without proper follow-up: • Research on the Web • The Internet serves as a portal to reach out to consumers in a low-cost fashion

39. The Primary Research Process • In the Web 1.0 online research model, surveys can be administered either through e-mail or via a website • The limitations of Web 2.0 market research efforts are reliability, sampling, and the methodology • Web-based research:

40. The International Information System • The system serves as a mechanism to: • The system should have the following attributes:

41. The International Information System • Environmental scanning • Is useful for receiving information on:

42. The International Information System • Can be performed by: • Content analysis: Investigates the content of communication in a society • Is conducted by ____________________________________ • There should be line between tracking and obtaining information and misappropriating corporate secrets

43. The International Information System • Delphi studies • Carried out with groups of about 30 well-chosen participants who: • Uses the mail or facsimile method of communication technique to:

44. The International Information System • Requires several steps, and therefore months may elapse before the information is obtained • Scenario building • Looks at different configurations of key variables in the international market to:

45. The International Information System • Identifies crucial trend variables and degree of their variation • For scenarios to be useful, management must analyze and respond to them by formulating contingency plans