Marketing Research in Global Markets

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Presentation transcript:

Marketing Research in Global Markets Why Bother?

Avoid Cultural Blunders Camellia flower used for Funerals in Brazil Launched a perfume with camellia fragrance Overlooked customs and Beliefs Had to withdraw the perfume

Claudia’s Satanic Chanel Dress Avoid Cultural Blunders Meaning of Color Meaning of Numbers Meaning of Context Claudia’s Satanic Chanel Dress

International Marketing Research 1. Define the research problem and establish research objectives. 2. Determine the sources of information to fulfill the research objectives. 3. Consider the costs and benefits of the research effort. 4. Gather the relevant data from secondary and/or primary sources. 5. Analyze, interpret, and summarize the results. 6. Effectively communicate the results to decision makers.

The Scope of International Marketing Research International Marketing Decisions Requiring Marketing Research

The Customer is always Right The Customer Does not Know what he/she Does not Know Traditional Methods of Marketing Research do not reveal new potential benefits for consumers.

Collection of Secondary Data Availability of Data Reliability of Data Comparability of Data Validating Secondary Data

Validating Secondary Data: - Who collected the data ? Would there be any reason for purposely misrepresenting the facts ? - For what purpose were the data collected ? - How were the data collected ? (Methodology) - Are the data internally consistent and logical in light of known data sources or market factors ?

Collection of Primary Data: Criteria for Good Research: - Objectivity - Validity - Reliability - Cost

1. Quantitative Research - Questionnaire - Survey 2. Qualitative Research - Focus Group - Ethnographic Studies - Free Interview - Observation

Problems of Gathering Primary Data - Ability to Communicate Opinions - Willingness to Respond - Sampling in Field Surveys - Language and Comprehension

Use of New Media in International Research E-mail marketing lists On-Line Surveys On-Line Focus Groups Chat Groups Social Media (Facebook etc. Online Behavioral Targeting

Online Behavioral Targeting Online behavioral targeting is a technique to deliver relevant messages to consumers by basing those messages on an analysis of consumers’ online behavior. That is, information is collected about the individual consumer’s internet activities in order to get a broad picture of consumers. The collected data includes: which websites the consumers visited, which search terms they used, and what things or services they purchased. This information is at times combined with demographic and geographic data that can also be retrieved from the web.

Online Behavioral Targeting Contextual Advertisements No legal privacy concerns. Ex: Expedia, Google, GMail Browser Based Tracking No legal privacy concerns. Ex: Bloomberg.com

Online Behavioral Targeting Stealth Browser Based Tracking Tracking system is being installed hidden (not being detected by antispyware etc.) in the software code. Practice is challenged in court. Ex: Sears and K-Mart had tracking system installed in the software code of Local Shared Objects such as Adobe’s Flash multimedia software in customers’ machines. Settlement out of court.

Online Behavioral Targeting Internet Service Provider Based Tracking Every computer connected to the Internet has an Internet Protocol (IP) address, which is provided by the consumer’s Internet Service Provider (DSL, Cox etc.) These log data provide information about who – the unique IP address, which is usually connected to a physical address - visited which pages at what time. Practice is outright illegal in Europe and had been challenged in U.S. courts. The case Valentine vs. Embarq and NebuAd has been dismissed on procedural grounds. Ex: Embarq Management (Internet Service Provider) allowed NebuAd (an advertising network company ) to access log data. NebuAd analyzed the data in order to create a profile of each individual consumer based on the consumer’s past online behavior, interests, purchases, address, and possibly income.

Demand Forecast Trend Extrapolation Expert Opinion Analogy Build Up Method Income Elasticity