International marketing research and information systems - Marketing Management

As with all marketing plans, international marketing decisions must be based on accurate and upto- date information and intelligence. The approaches to marketing research and information systems are the same internationally as domestically. However, at an international level market research and information gathering are more complex, have wider dimensions and are generally more difficult to plan and control. Some of the operational problems of conducting international marketing research are caused by differences in language and literacy, different cultural values and unreliable or unobtainable secondary data.

International Marketing Information System

Information requirements for international marketing depend upon the decisions to be taken on the basis of that information, but each of the elements of international marketing strategy outlined here will require marketing research and intelligence. Examples of the information required for some of the key decision areas in developing international marketing plans.

A systematic approach to marketing research and information gathering activities is even more important when conducting an international marketing research programme. Problem definition, and the design of the research brief, need to be done as precisely as possible so there is less room for misinterpretation. In developing the research plan, the timing and scheduling of events needs thorough planning to enable data to be collected, analysed, interpreted and reported upon in a common language and in the most efficient manner. Specification of the analysis and method of interpretation must be standardized to enable international comparisons and a meaningful report to be produced. Obtaining information on international markets can be done through secondary information supplied by governments, Chambers of Commerce, banks, and organizations like the United Nations. The availability of such secondary data differs by country, but major developed economies have substantial amounts of secondary information available for marketing research.

Marketing decision Information/Intelligence needed

  1. Degree of involvement/commitment in Assessment of global market demand and firm’s international marketing potential share in view of local and international competition and compared to domestic opportunities.
  2. Market selection A ranking of potential markets based on size and growth, political, cultural and economic factors and extent of local competition.
  3. Market entry method Size of market, trade barriers, transport costs, intermediary availability, local competition, government requirements and political stability.
  4. Marketing mix strategies For each market: buyer behaviour, competitive practice, distributors and channels, promotional media and practice, economic factors.

Information requirements for key international marketing decisions

Information requirements for key international marketing decisions

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