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International Marketing

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International Marketing ­ MKT630
VU
Lesson # 18
INTERNATIONAL MARKETING RESEARCH PROCESS
Four Steps of International Marketing Research
Framework for international marketing research:
Marketing research are the formal studies of specific situations. As discussed in the earlier lectures
major issue in decision making is that managers often fail to appropriately understand the issues or
problems and hence end up making right decisions for wrong problems. Since international markets are
often foreign to a marketer there are even more chances that the marker mat miss-understand the
problems / issues. To avoid such scenarios it is beneficial first to conduct exploratory research for
understanding the issues / situation better.
A
business
research
process
consists
of
four
steps;
Step 1:
Defining the problem (the decision for which info. is needed) and research objectives along with:
­
market structure
·  size of market, stage of development etc.
­
product concept
·  meaning of product in a particular environment
Marketing research project may have one of the three types of objectives;
· Exploratory research - is to gather preliminary information that will help define the problem
and suggest hypothesis
· Descriptive research  -
is to describe things such as market potential for a product,
demographics, or attitudes of customers
· Causal research - is to test hypothesis about cause-and-effect relationships
Step 2:
Once research objectives are properly defined the marketer / researcher should then develop the detailed
plan for conducting the research. A detailed research plan should include the following five aspects;
Developing the research plan
­ Determining specific information needs
research objectives must be translated into specific information needs
·
­ Plan for gathering secondary information
information that already exists somewhere, having been collected for another purpose -
·
relevant, current, impartial (objectively collected & reported)
­ Primary data collection plan
information collected for the specific purpose at hand - research approaches : observation,
·
54
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International Marketing ­ MKT630
VU
survey, experiment
­ Deciding contact method
mail, telephone, personal
·
­ Detailing the sampling plan
sampling unit, sample size, sampling procedure
·
Step 3:
Implementing the research plan
· data collection phase is generally the most expensive & most subject to error  -  wrong
implementation,  problems in contacting respondents,  biased or dishonest answers,
problems with interviewers (mistakes or short-cuts)
Step 4:
Interpreting and reporting the findings
· both researchers & managers must work together at this stage  -  researchers know
methodology better while managers understand problems and possible management solutions
better
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Table of Contents:
  1. OVERVIEW OF INTERNATIONAL MARKETING:Domestic marketing, Multinational marketing, Globalization of markets
  2. INETRNATIONAL MARKETING PROCESS:Situation Analysis, Implementation and Control, Relationship
  3. INETRNATIONAL MARKETING PROCESS:The Product Concept, The Societal Marketing Concept
  4. INETRNATIONAL MARKETING PROCESS
  5. ENGAGING IN INETRNATIONAL MARKETS:Expansion of technology, Merchandize export and import
  6. INTERNATIONAL TRADE & INVESTMENT THEORIES:Theory of Comparative Advantage, Country Similarity Theory
  7. INTERNATIONAL TRADE & INVESTMENT THEORIES:Global Strategic Rivalry Theory,
  8. INTERNATIONAL MARKETING INFORMATION REQUIREMENTS:Foreign exchange info
  9. INTERNATIONAL MARKETING INFORMATION REQUIREMENTS:The Product
  10. FOREIGN NATIONAL ENVIRONMENTS:Political systems in the world, Political risks in international markets
  11. FOREIGN NATIONAL ENVIRONMENTS:Types of legal systems,
  12. FOREIGN NATIONAL ENVIRONMENTS:Conciliation, Mediation, Global relevance
  13. ROLE OF GOVERNMENTS IN INTERNATIONAL MARKETS:Industry-level needs, Promotion of exports by governments
  14. INTERNATIONAL CULTURAL AND SOCIAL ENVIRONMENTS:The concept of culture, Attitudes & beliefs,
  15. INTERNATIONAL CULTURAL AND SOCIAL ENVIRONMENTS:Culture is a human medium
  16. DETERMINING EXPORT POTENTIAL IN INTERNATIONAL MARKETS:Political Environment
  17. DETERMINING EXPORT POTENTIAL IN INTERNATIONAL MARKETS:Product Potential
  18. INTERNATIONAL MARKETING RESEARCH PROCESS:market structure, Implementing the research plan
  19. INTERNATIONAL MARKETING RESEARCH PROCESS:Identify alternative information sources
  20. INTERNATIONAL MARKETING RESEARCH PROCESS:Issues with primary global research:
  21. INTERNATIONAL MARKETING RESEARCH PROCESS:Problems with data, Comparative Analysis
  22. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Export intermediaries, Export and import management
  23. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Licensing contract, Licensing risks
  24. MODES OF ENTRY INTO INTERNATIONAL MARKETS:The franchiser’s balance,
  25. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Forms of countertrade, Specialized entry modes
  26. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Demand factors, Political factors
  27. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Drivers behind successful joint ventures
  28. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Distribution agreements, Critical mass & optimism traps
  29. INTERNATIONAL STRATEGIC ALLIANCES:Impetus for international alliances, Management of strategic alliances
  30. INTERNATIONAL CONSUMER MARKETS:Model of Consumer BehaviorThe Buyer Decision Process
  31. INTERNATIONAL BUSINESS MARKETS:Nature of buying unit, Major influences on international business buyers
  32. INTERNATIONAL TARGET MARKETING:Market segmentation, Market positioning
  33. INTERNATIONAL MARKET SEGMENTATION:Geographic, Behavioral, Situational factors
  34. INTERNATIONAL MARKET SEGMENTATION:Basis for country segmentation, Stages of economics development
  35. INTERNATIONAL MARKET SEGMENTATION:Cultural Variables,
  36. INTERNATIONAL MARKET SEGMENTATION:Market coverage strategy, Socio-economic variables
  37. INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Individual product decisions, Branding
  38. INTERNATIONAL MARKETING MIX – PRODUCT POLICY:
  39. INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Modular Approach
  40. INTERNATIONAL MARKETING MIX – PRODUCT POLICY:Issues in labeling, Pricing, Distribution
  41. INTRODUCING NEW PRODUCTS IN INTERNATIONAL MARKETS:The new product development process
  42. PRICING IN INTERNATIONAL MARKETS:Factors influencing international pricing,
  43. ITERNATIONAL MARKETING CHANNELS:Channel membership, Vertical marketing, Control over distribution
  44. PROMOTING IN INTERNATIONAL MARKETS:Advertising, Direct marketing, Public Relationing
  45. REVISION