International Marketing Notes Essay

I. Chapter Summary* Due to the high time and be investment in go into a new market, companies must be very sure that the market they are entering will be successful. Thus, they either conduct merchandising inquiry themselves, or hire subaltern companies to research the market and possible forthcomes for them. * Decisions of whether or not to conduct merchandising research based on time constraint, availability of data, and value for the club (benefits vs. costs)* In-Depth Marketing look for Processhttp//microlinks.kdid.org/good-practice-center/value-chain-wiki/backward-market-research-process * bothers researchers face in different countries availability of research infrastructure, availability and quality of secondary data, comparability of data, language barriers, and shade specifics of consumers * Decisions between big international research agencies and local agencies international agencies abide standardized results across many countries, but local agencies can pop the question more applicable data* Types of Primary search* Quantitative ingathering and analysis of quantifiable categories and questions describes current market situation (i.e. multiple cream questions) * Qualitative analyzes the background of the issue in more detail explains need by using open-ended questions (i.e. concentre groups) * Questionnaires can be denary (ordinal and nominal scales) or qualitative (free answer) * Longitudinal Studies respondent surveys conducted at mingled points in time, allowing analysis in changes over time (i.e. consumer scan)II. Key harm and Concepts* Marketing Research systematic and objective process of generating information to encourage in making marketing decisions concentrates on general characteristics of target market, specifics of marketing environment, analysis of competitors, and tests of marketing strategy * Stages of a Research Process Problem definition Research designCollection of informationData processing and analysisPr esentation of research report * Primary data new data that must be collected during the process of marketing research more costly yet more specific to thing of interest * Secondary data data collected and published before, just about often for other purposes than the current research objective less costly, easier to cause (i.e. census) * Consumer scan study of consumer purchasing behavior conducted continuously on the same sample of responding households * Retail panel longitudinal research conducted in sell stores data about changes in store layout, crossing placement, prices, and other relevant topics III. Discussion Topics1. What are some advantages and disadvantages of conducting marketing research? 2. Provide a specific example of problems researchers face when they conduct marketing research out of doors their own country 3. Compare and classify the following questionnaire questions * How frequently do you go to the grocery store per week? * Why do you go to Walmart?4. What are the characteristics of a good interviewer?IV. Industry Examples and Questions1. Example of bad questionnaire Sociology Research Methods Questionnaire from Wisconsin Universityhttp//www.ssc.wisc.edu/jpiliavi/357/neuman.pdf* What makes these questions bad?* How can they be improved?2. Case Study JD (part of JD Sports expression PLC) Market Research Methods * Exit surveys carried out face-to-face with consumers as they come forth the storepurpose of the survey is primarily to understand the reasons for visit, frequency of visit/ barter for and reasons for and against purchase * Shopping bag survey the JD research team monitors what carrier bags customers entering JD stores are carrying. This helps identify what other stores JD customers use and are spending cash in provides competitor insight and an idea of which retailers attract a standardized customer profile to JD * On-site fieldwork JDs dedicated Site Research team invests significant time researching new locations. This involves defining the extent of a locations catchment area, reviewing the presence and quality of the competition and assessing the pitch and profile (i.e. how busy the area is) of a unit http//businesscasestudies.co.uk/jd-sports/using-market-research-to-support-decision-making/what-is-market-research.html3. Coca Cola vast Britains Market Research Process* Identify opportunityDoes it fit into living product category? For what target? desk research * Explore solution peeled product? New design? Product extension? qualitative research using focus groups and in-depth interviews * Measure suitability/effectivenessEvaluate the relative appeal of alternative solutions in impairment of meeting consumer requirementsQuantitative research through face-to-face, telephone/internet interviews * Test MarketTry out new product ideas in a test marketQuantitative research from participants in a test sample of consumers who physically live with the test product for a period of days there ar e three stages construct research, product attributes, and volume assessment* Track market performanceTracking the products success once it has been launched (i.e. by recording sales figures, numbers of pile familiar with the product, etc)Quantified continuous rolling study with consumers and/or analysis of electronic Point of Sale data http//businesscasestudies.co.uk/coca-cola-great-britain/using-market-research-to-develop-a-product-range/market-research.html* Compare and contrast the marketing research methods of JD and Coca Cola * Can any of the methods work for the other troupe? For example, Electronic Point of Sale for JD Sports Fashion?