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International Marketing Research: A Management Briefing Written By: T. Davis and R. Young

International Marketing Research: A Management Briefing Written By: T. Davis and R. Young. Presented by: Alexandra Lucio. Overview. Products and marketing campaigns usually need to be adapted overseas. Standardized marketing research is not enough to gain insights.

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International Marketing Research: A Management Briefing Written By: T. Davis and R. Young

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  1. International Marketing Research: A Management BriefingWritten By: T. Davis and R. Young Presented by: Alexandra Lucio

  2. Overview • Products and marketing campaigns usually need to be adapted overseas. • Standardized marketing research is not enough to gain insights. • Differences in cultures across countries are too large to ignore. • The lack of adequate research often results in business failure.

  3. Marketing Mix: Product • Product might lack acceptability in some countries. • Packaging can be another source of problems.

  4. Marketing Mix: Pricing • Some companies price their products at the currency equivalent of the domestic price. • Others price too high to recover extra expenses. • Others price low hoping for future profits.

  5. Marketing mix: Place • Most important international business decision: • Established wholesale, retail or direct sales network • Piggyback on others firms’ distribution systems • Build own channels

  6. Marketing Mix: Promotion • Important to understand branding, selling, advertising and promotion practices. U.S: “It won’t leak in your pocket and embarrass you.” Mexico: “It won’t leak in your pocket and make you pregnant.” “Are you lactating?”

  7. Anything wrong?

  8. Difficulties with global marketing research • More diverse research projects: language, religion,race… • More unknowns: market conditions • Data collection methods • Longer completion time • Higher costs • Restrictive laws

  9. Proposal for improving global marketing research • Make extensive use of secondary sources • Seek help from government agencies • Appoint singe market research coordinator • Use alternative data collection methods • Use start-up offices as research labs

  10. Sources • http://www.joke-archives.com/dictionaries/badads.html • http://www.parkerpen.com/sanford/consumer/parker/jhtml/index.jhtml • http://www.snapple.com/ • http://www.i18nguy.com/translations.html#clairol

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