Page 113 - DMGT547_INTERNATIONAL_MARKETING

International Marketing

Notes Market survey is a fact-finding mission conducted for the purpose of obtaining all relevant
information about the market. The survey may be (a) product oriented or (b) market
oriented.
Former research is often required before decisions can be made regarding specific problems
or opportunities. After developing a research plan, data are collected using either primary
or secondary sources.
A number of techniques are available for analysis including demand, income elasticity
measurements, and estimation by analogy, comparative analysis and cluster analysis.
Research findings must be presented clearly to facilitate decision-making international
marketing research presents a number of challenges.

First is the simple fact that research on a number of markets may be required some of
which are so small that only modest research expenditures can be made. Secondary data
for some countries may be distorted; also, comparability may be an issue.
A final issue is how control headquarters will have control over research and overall
management of the organisations information system.

5.9 Keywords

Causal Research: It seeks to find cause and effect relationships between variables.
Descriptive Research: It describes data and characteristics about the population or phenomenon
being studied.

Exploratory Research: It provides insights into and comprehension of an issue or situation.
International Marketing Research: The systematic design, collection, recording, analysis,
interpretation and reporting of information pertinent to a particular marketing decision facing
a company operating internationally.
Market Information Systems: An information system concerned with the collection, storage,
and analysis of information and data for marketing decisions.
Market Research: A systematic process of gathering, recording and analyzing data about problems
related to the marketing of goods and services.
Primary Data: Information collected for a specific purpose, to address the problem at hand.
Research: Systematic and objective investigation of a subject or problem to discover relevant
information for principles.
Secondary Data: Data collected for a problem other than the problem at hand.
Survey: The collection of data from a given population for the purpose of analysis of a particular
issue.
5.10 Review Questions

1. What do you mean by international marketing research? Why do marketers go for such
research?

2. Discuss the scope of international marketing research.
3. How is international marketing research carried out? Discuss in brief.
4. Compare and contrast the different methods of conducting a survey.

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