International Marketing Research Assignment Sample

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Business Plan
International Marketing Research
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International Marketing
Research

Cross-border activities of firms have been of interest for international business
researchers for a long time, and still it is an expanding field of research. Business which want
to compete in 21 st
century must confronted with the task of crafting strategies that anticipate
and respond to the rapid pace of change in global market, and that’s w hy their information
needs are changing and becoming more and more complex and diverse. Every company
performs the task of marketing research to provide the relevant, accurate, reliable, valid and
current information of market to management. The major objectives of this essay is to
research emerging market so that opportunities for internationalisation can be found, to
understand the primary functions and mark the problems in market research. Maintaining
objective in marketing research is essential if marketing management is to have sufficient
confidence in its result to be prepared to take risky decisions based upon those results
(Aberdeen, n.d).
Information needs are changing in both developed and developing countries. As a
result there is a growing need to conduct research across the country boundaries. International
marketing research has increased substantially as companies find global growth
opportunities. Emerging market offers the greatest potential for future business growth
(Baack and Boggs, 2008). Emerging markets offer huge returns for organizations
appreciating their consumers. Market research is the collection and analysis of information
about costumer, competitors and market conditions of a particular geographic area, and also
analysis of the effectiveness of the marketing programs. Some time marketing research also
held to analysis of qualitative and quantitative data about some issue relating market products
and services.
Majorly there are two types of marketing researches, Qualitative marketing research:
this research generally used for exploratory purposes which has small number of respondents.
This research is not generalized able to the whole population, and Quantitative marketing
research: this research generally draws the conclusions, tests a specific hypothesis and uses
random sampling technique so as to infer the sample to the population. It has a large number
of responds.
Marketing manager may seek advice from marketing research specialists, and indeed
it is important that research report should specify alternative courses of action and the
probability of success, where possible, of these alternatives. It is the marketing manager who
takes the fin al decision and not the researcher. Information needs are changing in both

developed and developing countries. As a result there is a growing need to conduct research
across the country boundaries. International marketing research has increased substantially as
companies find global growth opportunities. Emerging market offers the greatest potential for
future business growth (Baack and Boggs, 2008). Emerging markets offer huge returns for
organizations appreciating their consumers, but for earning such huge returns a company has
to keep performing well in different economy and political conditions.
Emerging markets are growing very fast as a share of global GDP, but just how
rapidly may come as a surprise. Consider that between 2010 and 2015, global economic
output is forecasting to rise by $8.5 trillion. Emerging markets are expected to account for
about 62 percent of that growth (Egna and Ovanssoff, n.d). More companies are taking to
operations on a global scale. The complexity of the operations changes as the company steps
into international market. A company can become global company if it achieves efficiencies
of scale by developing a standardized product of dependable quality, and sell it in the global
market at a reasonable price throughout the world. While evaluating foreign market several
factors need to be considered for standardizing the product across markets. These factors can
be divided into foreign uncontrollable which includes economics forces, cultural forces
issues, political forces and level of technology among other. So, while making the marketing
plan a researcher will have to consider the uncontrollable factors that will defiantly have an
effect on business in the particular country. Marketing research can help a business to gain a
more detailed understanding of consumer’s needs; it can also help in discover consumer’s
opinions on a huge range of issues (Lyons, 2008).
Marketing research is a diverse field and it performs major factions of the
organization. Market research starts from the thought of setting up a business and continues
till the customer satisfaction of the feedback from the customer. A market researcher has to
perform many tasks like monitor current market trend, identify the key consumer market,
build and maintain customer relationship, establish a distinctive identity for a product or
organization, plan, monitor and co-ordinate the marketing mix, and manage changes in
technology, competition and consumer tastes.
There has also been an information explosion. In today’s fast growing technology the
availability of online database and internet-based information sources have changed the
nature of international marketing research and also in the role it plays in the marketing
process. As such conditions, the of international market researcher is to provide an

assessment of market demand globally, an evaluation of potential customers and the risk and
cost involved in market entries, as well as detailed information on which to base effective
marketing strategies (Smith and Albaum, 2004).
To achieve these, the researcher has three primary factions to carry out, first is
Identify and analyse the opportunities by scanning international markets, second Monitor
environmental trends by building marketing information system and third is Carrying out the
primary market research studies so that it can input into the development of marketing
strategies and feasibility of the market mix options of the domestic and foreign market can be
tested (Doole, Lowe and Doole, 2008).
International markets are scanned primarily to identify those countries which warrant
future research and analysis, thus the researcher will look for countries that meet qualifying
criteria of accessibility, profitability and market size. At the scanning stage the researcher try
to find countries where marketing opportunities available, after identifying those
opportunities researcher will need to make an assessment of their viability for future
investigation.
After the scanning stage the manager researching international markets is identifying
and then analyzing opportunities which market to prioritise for future research and
development. For that the researcher has to divide the market into some group by market
segmentation. After market segmentation an international marketing information system has
to be developed by building the information base, then researcher has to find the sources of
information like databases and collect information from primary and secondary data sources
(Schmidt, 2007).
After finding all the relevant data a research design has to be formulated. When
formulating a research design, considerable efforts is needed to ensure that the methods used
will ensure comparability of data. All the study of primary market should be carried out so
that it can be input into the development of marketing strategies and feasibility of the market
mix option, both in foreign country market and across a range of international markets.
Companies and other organizations use market research to manage the risk associated
with introducing a new product or service. No organization would like to spend too much
money on developing a product line that research indicates will be unsuccessful. There are
some problems which can make a market research costly and produce results of questionable
value for the organization (Identifying market problems, n.d). Survey Design: mostly

organization use marketing research to know the customers view about products and what
they need. The survey is a direct way of collecting such information, so if there is any error in
survey design then market research results can suffer. Survey Nonresponsive: this problem
can be accrued if the survey is not properly offered to the population. Some time many
customer does not respond to the survey and don’t want to participate, in such cases survey
takes too much effort and the conclusion can also be effected. One sidedness of Survey: a
survey might include one or more bias. A survey format should be in such a way that all the
audience accept it by which researcher seek to gather information. Observation Research:
many of the market research involve observing customers in action and noting their
preferences. Researcher can become interfering with customer’s experience to the point a
consumer feels disgusted and leaves the business side (Turnbull, 1986).
Other then these there can be many problems in market research related to
unclearness of the objectives, quality issue of the sample, poorly designed instruments, poor
matching of methodology to gaols, internal sceptics, hastily programming, egregious errors
and unproductive client-agency relationship (Korostoff, n.d).
There are many problems can be accrued in international marketing research, these
problems can be related to the numerous markets or the problem with data. Numerous
markets related problems like definition error caused by the way problem is defined,
instrument error while arises from questionnaire and the interviewer, frame error occurs when
sampling frames are available from various sources in different countries, section error can
the result from the way actual sample is selected from the frame and non-response error (Hill,
n.d).
Problem with data error can be in when secondary data is comparing several markets,
and language, social organization, obtaining responses, infrastructure constraints and
convergence related problem can be with primary data (Bianca, n.d).
Some of the major challenges that face market research, The first we can call
how and why Complex. Gathering some good demographic information as well as finding
voluminous reports on what is being purchased, with the hope to understand the purchasing
pattern and trends. Many of the senior executive misses to understand the buyer behaviour in
their strategic meetings. Some of them may argue that psychographics provides this but
psychographics focuses more on lifestyles as oppose to insightful and deep understanding
into how and why consumers or buyers buy. The second challenge can be

termed "proliferation" in the sense that market research has become big business. That’s why
gaining insight should come from distilling volumes of reports, focus groups, surveys,
quantitative data, and every imaginable new way to look at a customer that has been created
in the past few years. The third challenge is one we can call "relevancy." It is a challenge
that researchers today are facing to fix for the "go-to-market" windows continue to shrink and
what is needed is relevant and real consumer or buyer insight today and not tomorrow. The
fourth challenge we can liken to the nomenclature of the "silent majority" in the digital age.
The nature of what researchers typically have been researching has changed so dramatically
in last few years that researchers may be in fact not reaching out to the right consumers or
buyers by observing, watching, and making decisions on these observations (Zambito, 2011).
International marketing research entails a company diversifying and making more
marketing mix decisions in a different country. Everyone knows that international market
competition is becoming highly competitive day by day, an d it’s becoming harder for
companies to survive in such competitive market. Most of the multinational companies are
providing international marketing research to get more and more information about the
market of particular country or global market. The process of marketing research starts before
the raw material converts into product. A researcher finds the possible opportunities in a
particular geographic area and on the basis of all that analysis and report by the researcher
products are produced for that area. So an error in researchers report can be very harmful for
the business. As above discussed a researcher has to face many problems in his research and
have to prepare a best report on the basis of available information. A perfect market research
report can help business to get the opportunities available in today’s global market.

References
Books:
Baack, D.W., and Boggs, D.J. 2008. International Journal of Emerging Markets. Libraries
Unlimited.
Craig, C. S., and Douglas, P. P., 2005. International Marketing Research. John Wiley &
Sons.
Doole, I. Lowe, R., and Doole, I. 2008. International Marketing Strategy. Cengage Learning
EMEA
Schmidt, 2007. Marketing research. Pearson Education India.
Smith, S. M., and Albaum, G. S., 2004. Fundamentals of Marketing. SAGE.
Turnbull, P., 1986. Research in International Marketing. Routledge.
Online:
.Hill, B., n.d. What are the challenges that firm faces. [Online]. Available at
<http://smallbusiness.chron.com/challenges-firms-face-international-marketing-
3356.html>. [Accessed On 26th
November 2012].
Aberdeen, n.d, Why Emerging Market. [pdf]. Available At : Website: <http://www.aberdeen-
asset.com/pdfupload.nsf/337186851BCCD8A8802572C00037E074/$file/exploringopp
ortutunitiesinemergingmarkets.pdf?OpenElement>. [Accessed on 26th
November
2012].
Bianca. A., n.d. Examples of Marketing Research Problems. [Online], Available At : <
http://smallbusiness.chron.com/examples-marketing-research-problems-23051.html >.
[Accessed on: 26th November 2012].
Egan, H., and Ovenessoff A., n.d. Capturing the Growth Opportunity in Emerging Market.
[Online], Available At : <http://www.europeanbusinessreview.com/?p=4547>.
[Accessed on 26th
November 2012].
Identifying Market Problems, n.d. [Online]. Available at
<http://www.marsdd.com/articles/identifying-market-problems/>. [Accessed on: 26th
November 2012].
Lyons, G., 2008. Emerging markets will be crucial for future prosperity. [online] Available
At :<http://www.telegraph.com/finance/comment/2794946/Emerging-markets-will-
becrucial-for-future-prosperity.html>. [Accessed on 26 th
November 2012].
Zambito, T., 2011. Four Challenges Market faces Today. [Online]. Available at
<http://blogs.imediaconnection.com/blog/2011/04/17/four-challenges-market-research-
faces-today/>. [Accessed on: 26th
November 2012].

International Marketing Research Assignment Sample

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International Marketing Research Assignment Sample