chapter 8 analyzing people and markets

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Chapter 8Analyzing People and Markets


Defining the Issue

• The American Marketing Association defines market research as:•

• Information is used to:• • • •


International and Domestic Research

• Four primary differences are:• New parameters

• • • • •

• New environment which involves understanding:•



• • • • • •

• Number of factors involved are:•

•



• Broader definition of competition is faced when entering the international market• The firm must determine:

• • •


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:• •



•

•

• International marketing research is important because it:•



• Helps to develop a marketing plan•

• Provides management with foreign market intelligence


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) –


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


Going International: Exporting

• Foreign market opportunity analysis:

• Broad-brush approach to narrow down international marketing activities•



• Approach should begin with cursory analysis of:• • • •



• Information on individual market data to identify:• • • •

• Consideration of governmental restrictions



• Competitive assessment that:•

•


Going International: Importing

• Firms shift their focus from supplying to sourcing

• Importer needs to be aware of: • • • • • •


Market Expansion

• Obtaining detailed information for penetrating a market

• Designing and fine-tuning the marketing mix

• Monitoring the political climate of a country


Determining Secondary Information Requirements

• Secondary data for international marketing research can be procured from:• • • • • • •



• Evaluating data• Consider the quality of the data source, with

primary focus on:•

• Assess the quality of actual data in terms of: • • •

•



• Analyzing and interpreting secondary data• Requires combination and cross tabulation of

various sets of data or the use of proxy information to:•

• Proxy variable:



• Data privacy• The international marketer must pay careful

attention to: •

•


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



• Firms recognize that segmentation variables play a major role in: •

• Determining information requirements•

• Industrial versus consumer research•



• Determining research administration approaches:• Centralized –

• Research specifications: Focus, thrust, and design are directed by the home office followed by:•


The Primary Research Process• Coordinated –

• Decentralized –

•



• Outside research services• The use of the research agencies are

appropriate:• •

• The selection process should emphasize the quality of information rather than the cost



• Determining the research technique depends on a variety of factors•

•

•

•



• Types of research instruments • Interviews –

• Focus groups –

•


The Primary Research Process• Observation

•

•

•

•

•



• Quantitative research technique• Surveys

•

•

•

• Reasons why new product development information should not rely on consumer surveys are:


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:•


Designing the Survey Questionnaire - Question Format• Structured questions:

• Unstructured or open-ended questions:

• Direct or indirect questions:


Designing the Survey Questionnaire - Question Format• Data equivalence:

• Question content•

•


The Primary Research Process• Question wording• • Omit leading questions or asking questions in

specific terms to:•

• Translation-re-translation approach:

• Pretest the survey



• Developing the sampling plan •

• Data collection•

• Conduct spot checks and realism checks on the administration procedure to:•


The Primary Research Process• Collected data should be compared with

secondary and analogous information to:•


Analyzing and Interpreting Primary Data

• Use the most appropriate and best available tool for:•

• Avoid over sophisticated tools for unsophisticated data


The Primary Research Process• Presenting research results• • • • •



• 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


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:


The International Information System

• The system serves as a mechanism to:•

• The system should have the following attributes:• • • •



• •

• Environmental scanning• Is useful for receiving information on:

• • •



• 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


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:•



• 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:• •



• 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

chapter 8 analyzing people and markets

Documents

cengage learning

accessible website

market research

international marketthe

marketing plan

foreign market intelligence

vdr vd crwhere

new parameters new environment