Global Information Systems and Market
Research
Chapter 6
Global Marketing
Information Needs of Global Marketers
* Understa...
* Nestlé demonstrates how understanding the market can lead to
success. It successfully positioned its Maggi brand noodles...
* Prescriptive Information
* Laws, regulations, rulings concerning taxes, earnings,
dividends in both host and home countr...
* One study found that three-quarters of the information acquired
from human sources comes from face-to-face conversation....
* Global Marketing Research is the project-specific, systematic
gathering of data in the search scanning mode on a global ...
* The research problem may be the need to identify where the
company should do business and what the business environment
...
* What is the information worth (versus what will it cost to collect)?
* What will it cost if we don’t get the information...
Collecting Data (cont.)
* Primary Data Collection Methods
* Survey research
* Interviews
* Consumer panels
* Observation
*...
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Global marketing research keegan06 final

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Global marketing research keegan06 final

  1. 1. Global Information Systems and Market Research Chapter 6 Global Marketing Information Needs of Global Marketers * Understand the importance of information technology and marketing information systems * Utilize a framework for information scanning and opportunity identification * Understand the formal market research process * Know how to manage the marketing information collection system and market research effort Managing Information for Global Marketing * Management Information System (MIS) – provides a means for * Gathering * Analyzing * Classifying * Storing * Retrieving * Reporting relevant data
  2. 2. * Nestlé demonstrates how understanding the market can lead to success. It successfully positioned its Maggi brand noodles as a between-meal snack food rather than a pasta meal item. Nestlé caters to the Indian preference for local brands and created chicory-flavored Sunrise especially for the Indian market. Information Subject Agenda * The starting point for global marketing information system is identifying a list of subjects for which information is desired * Should be tailored to the needs and objectives of the company * Two essential criteria * It should contain all the information subject areas relevant to a company with global operations * Categories should be mutually exclusive Table 6-1: Subject Agenda * Market Potential * Demand estimates, consumer behavior, review of marketing mix * Competitor Information * Corporate, business, and functional strategies * Foreign Exchange * Balance of payments, interest rates, attractiveness of country currency Table 6-1: Subject Agenda (cont.)
  3. 3. * Prescriptive Information * Laws, regulations, rulings concerning taxes, earnings, dividends in both host and home countries * Resource Information * Availability of human, financial, physical, and information resources * General Conditions * Overall review of sociocultural, political, and technological environments Scanning Modes * Surveillance * Informal information gathering * VIEWING – general exposure to information * MONITORING – paying special attention and tracking a story as it develops * Search- more formal * Formal information gathering * INVESTIGATION – seeking out secondary data * RESEARCH – conducting primary research Sources of Market Information * Human Sources Research has shown that executives obtain two-thirds of their information from personal sources.
  4. 4. * One study found that three-quarters of the information acquired from human sources comes from face-to-face conversation. Sources of Market Information * Direct Perception Direct sensory perception provides a background for information. It means seeing, feeling, hearing, smelling, or tasting to find out what is going on in a particular country * (e.g., Wal-Mart stocked inappropriate products in China like extension ladders until executives looked for ideas and successfully offered lunchboxes and pizza). Imp. Of packaging in Japan * Benetton managers rely heavily on inbound data generated at the point of purchase; data about sales transactions are transmitted via satellite to headquarters from cash registers at the company’s 7,000 stores around the world. Analysts sift through the data to identify trends, which are conveyed to manufacturing. * Knitwear is produced as undyed “gray goods,” which are dyed according to fashion trends identified by the MIS. This reduces carrying costs and reduces markdowns Preventing Information Overload * Global organizations need * Efficient, effective system to scan and digest published sources of information in all countries in which it conducts business * Daily scanning, translating, digesting, abstracting, and electronic input of information into MIS Formal Market Research
  5. 5. * Global Marketing Research is the project-specific, systematic gathering of data in the search scanning mode on a global basis Largest Global Research Companies * AC Nielsen Corp * IMS Health * Research International USA * NFO Worldwide * Gartner Group * Video Research * United Information Group * Information Resources * VNU Marketing Information Services Steps in the Research Process * 1. Identifying the research problem * 2. Developing a research plan * 3. Collecting data * 4. Analyzing data * 5. Presenting the research findings 1. Identifying the research problem
  6. 6. * The research problem may be the need to identify where the company should do business and what the business environment is in those global markets. * The research problem may be narrowly focused on marketing issues, such as the need to adapt products to local tastes and assessing demand and profit potential. Step1: Identifying the Research Process * What information do I need? * Existing Markets – customer needs already being served by one or more companies; information may be readily available * Potential Markets * Latent market – an undiscovered market; demand would be there if product was there * Incipient market – market will emerge as macro environmental trends continue * Why do I need this information? * Japanese companies led in fax machine sales because they did not use survey research. They reviewed computers, photocopiers, cell phones, and then focused on the benefits of fax machines, not the market. Step 2: Developing A Research Plan * During planning, methodologies, budgets, and time parameters are all spelled out. * Do we need quantitative or qualitative data?
  7. 7. * What is the information worth (versus what will it cost to collect)? * What will it cost if we don’t get the information? * What can be gained from the information? For consumer products, qualitative research accomplishes the following: * to provide consumer understanding * to describe the social and cultural context * to identify brand equity * to identify what people really feel Step 3: Collecting Data * secondary data may support the decision to pursue a global market opportunity but will not answer specific questions (e.g., market potential for our furniture in Indonesia). Step 3: Collecting Data * Secondary Data * Statistical Abstract of the United States * Statistical Yearbook of the United Nations * World Factbook * The Economist * The Financial Times * Syndicated studies * And much more
  8. 8. Collecting Data (cont.) * Primary Data Collection Methods * Survey research * Interviews * Consumer panels * Observation * Focus groups

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