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Chapter 8: Developing a Global Vision through Marketing Research - Coggle…
Chapter 8: Developing a Global Vision through Marketing Research
Estimating Market Demand
Analogy
assumes that demand for a product develops in the same way in all countries, as comparable economic development occurs in each country
Expert Opinion
experts are polled for their opinions about market size and growth rates.
Communicating with Decision Makers
Decision makers should be directly involved
Good communication makes or breaks marketing
Research Process
Gather the relevant data from secondary or primary sources, or both.
Define the research problem and establish research objectives.
Determine the sources of information to fulfill the research objectives.
Analyze, interpret, and summarize the results.
Effectively communicate the results to decision makers.
Consider the costs and benefits of the research effort.
Information is Key
international marketing research
Broader Scope
General Info of Country
Forecasting
Info for decisions Ex: Price, Product, Promotion, Distribution
Marketing Research
systematic gathering, recording, and analyzing of data to provide information useful to marketing decision making.
Multicultural Research
involves countries that have different languages, economies, social
structures, behavior, and attitude patterns.
Primary Data
Qualitative
with responses that can be presented with precise estimations.
Quantitative
responses that reflect the person’s thoughts and feelings on the subject are sought.
Problems
Ability to Communicate Opinion
Willingness to Respond
Sampling in Field Surveys
Language and Comprehension
Back Translation
Parallel Translation
Decentering