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International Marketing

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International Marketing ­ MKT630
VU
Lesson # 21
INTERNATIONAL MARKETING RESEARCH PROCESS
Analysis, Interpretation and Report Presentation
Analysis, interpretation & report presentation:
Marketers / researchers should ensure that the following aspects are addressed in the research analysis
report;
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data source must be identified
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data projection must be explained
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identify those interviewed
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highlight alternative courses of action
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for translation of questionnaires and the international marketing research analysis report the
following should be observed;
· equivalence of language
· method of translation (different cultural & linguistic backgrounds lead to different ways of
perceiving the world)
· measurement & instrumentation
Problems in international marketing research:
·
Problems of numerous markets:
­ definition error caused by the way problem is defined
­ instrument error which arises from questionnaire and the interviewer
­ frame error - occurs when sampling frames are available from different sources in different
countries
­ selection error which results from the way actual sample is selected from the frames
­ non-response error - which results when different cultural patterns of non-response are obtained
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Problems with data:
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secondary data - comparing several markets
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primary data
· language
· social organization
· obtaining responses
· infrastructure constraints
· convergence / divergence of consumer behavior across cultures
Research techniques for analyzing international data:
· Demand Pattern Analysis
Industrial growth patterns provide an insight into market demand. Because they generally reveal
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consumption patterns, production patterns and are helpful in assessing market opportunities.
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International Marketing ­ MKT630
VU
Additionally, trends in manufacturing production indicate potential markets for companies that
supply manufacturing inputs. At the early stages of growth in a country, when per capita incomes
are low, manufacturing centers on such necessities as food and beverages, textiles, and other
forms of light industry. As incomes rise, the relative importance of these industries declines as
heavy industry begins to develop. Countries at different levels of per capita income, thus, have
diverse patterns of consumption & production. Such data can be gathered on macro levels for
most countries. This simple technique, known as multiple-factor index approach, allows insights
into consumption-production profiles of many countries. Though relatively crude, it gives a clue
both to a country's present position and the direction it is going. This in turn helps the firm
identify possibilities for export or local production in that market.
· Multiple-Factor Indexes
­ A multiple-factor index measures market potential indirectly, using as proxies a number of
variables that intuition or statistical analysis reveal to be closely correlated with the potential for
the product in question. A model for forecasting the demand for television sets in international
markets could be a function of the market size for TV and consumer's capacity to by TV. Market
size can be indicated by the proxy variables of number of households, percent of literacy, percent
of urbanization etc. Capacity to buy can be indicated by per capita income, index of standard of
living, price per unit, and price per unit relative to per capita income etc.
· Income Elasticity Measurements
­ Income elasticity describes the relationship between demand for a good and changes in income.
Studies have shown that basic necessities such as food and clothing are characterized by inelastic
demand. Stated differently, expenditures on products in these categories increase but at a slower
percentage rate than do increase in income. Demand for durable consumer goods such a furniture
and appliances tends to be income elastic, increasing relatively faster than increase in incomes.
· Market Estimation by Analogy
For countries with limited data, estimating market potential can be a precarious exercise. Given
­
the absence of hard data, one technique - estimation by analogy - can be useful in getting better
feel for market potential in such countries. This estimation is done in two ways:
The cross-section comparison approach involves taking the known market size of a product
·
in one country and relating it to some economic indication, such as disposable personal
income, to derive a ratio. This ratio (of product consumption to disposable personal income in
above illustration) is then applied to another country where disposable personal income is
known in order to derive the market potential for the product in that country.
The time-series approach estimates the demand in the second country by assuming that it
·
has the same level of consumption that the first country had at the same level of development
(or per capita income) at a different point in time.
Comparative Analysis
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One of the unique opportunities in global marketing analysis is to conduct comparisons of market
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potential and market performance in different country markets at the same point in time.
Gap analysis analyzes the difference "gap" between estimated total market potential and a
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company's sales. The gap can be divided into four categories: Usage gap, Competitive gap,
Product-line gap, Distribution gap
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International Marketing ­ MKT630
VU
Cluster Analysis
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The objective of cluster analysis is to group variables into clusters that maximize within-group
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similarities and between-group differences. Cluster analysis using macroeconomic and
consumption data is a favored technique for identifying similar markets. The goal here is to
ensure that the countries with the greatest potential make it to the short list for further
investigation.
Countries can also be clustered based on product diffusion patterns - the rate at which new
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products are adopted in a market. If such segments can be derived, managers could use
information from the lead market, about variables such as growth in market size, when sales
reach a peak, to make inferences on the same variables for lagging markets.
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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