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International Marketing Intellegence

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There are two types of research namely exploratory and conclusive research. Similarly, primary data collection can be done by two methods namely observation method and survey method. A good research …

There are two types of research namely exploratory and conclusive research. Similarly, primary data collection can be done by two methods namely observation method and survey method. A good research firm is the one that has expertise,knowledge,objectivity, familiarity and cost-effectiveness as its core attributes.

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  • 1. Chapter 4INTERNATIONAL MARKETING INTELLIGENCE International Marketing Chapter-4 International Marketing Intelligence
  • 2. Objectives What are the areas of information requirement What are the sources of information What is marketing research and what are the objectives, limitations, scopes types and phases of marketing research International Marketing Chapter-4 International Marketing Intelligence
  • 3. Objectives What are the method of data collection Who are research agencies and what are their drawbacks How to select research agencies What are the problems of international research International Marketing Chapter-4 International Marketing Intelligence
  • 4. IntroductionProper business intelligence is essential in following area1. International marketing decision2. Market selection decision3. Entry and operating decision4. Marketing mix decision5. Organization decision International Marketing Chapter-4 International Marketing Intelligence
  • 5. Information RequirementInternational marketing related informationMarket selection related informationProduct related informationPrice related informationPromotion related informationDistribution related informationCompetition related information International Marketing Chapter-4 International Marketing Intelligence
  • 6. Sources of Information-Organizations Within India They are important sources of information pertaining to foreign markets They have brought out publication intended to provide general guidance and education to exports They carry out market potential studies and other relevant studies The consulates of foreign governments provide a lot of information about the countries. International Marketing Chapter-4 International Marketing Intelligence
  • 7. Sources of Information-Organizations outside India The international trade centre, Geneva, is a very important source of information and assistance to exporters. Offices of the Indian embassies of the foreign government may be approached for certain type of information. There are certain international organizations related to specific products. International Marketing Chapter-4 International Marketing Intelligence
  • 8. Sources of Information-Publications Information can be obtained from publications like journals and research publication – national, foreign and international General and specialized publications carrying useful information for the exporters. Foreign and international publication, general and product specific International Marketing Chapter-4 International Marketing Intelligence
  • 9. International Marketing Informationsystem and Marketing Research IM involves the creation of an information system, which should be a part of the company’s overall information system for international business. International Marketing Chapter-4 International Marketing Intelligence
  • 10. Objectives of MarketingResearch1. Identify the deficiencies a. Products b. Pricing c. Distribution d. Promotion2. Identify existing and emerging marketing opportunities3. Identify the relative weaknesses and strength of the company4. Monitor the environmental changes International Marketing Chapter-4 International Marketing Intelligence
  • 11. Limitations of Marketing Research1. Research findings are not always dependable. The performance of many products have been in contradiction to the research indications.2. It involves costs.3. In underdeveloped countries, marketing research has its own limitations arising from non-availability of adequate and reliable data, problems in collecting data and so on. International Marketing4. It is a time consuming process. Chapter-4 International Marketing Intelligence
  • 12. Scope of Marketing Research1. Product research2. Pricing research3. Distribution research4. Promotion research5. Consumer research6. Marketing environment research7. Market trend research8. Marketing efficiency research International Marketing Chapter-4 International Marketing Intelligence
  • 13. Types of Research1. Exploratory research2. Conclusive research International Marketing Chapter-4 International Marketing Intelligence
  • 14. Exploratory ResearchIt seeks to discover now relationshipsIt is investigative in natureIt may be conducted by1. Study of secondary data2. Survey of knowledgeable person3. Analysis of selected cases i.e.intensive study of a relatively smallnumber of situations. Marketing International Marketing Chapter-4 International Intelligence
  • 15. Conclusive Research1. Descriptive research may be conducted by 1. case study 2. Statistical study2. Experimental research It may be done in the laboratory situation or in the field. International Marketing Chapter-4 International Marketing Intelligence
  • 16. Phases of a Research project1. Definition of the problem2. Conducting of a situational analysis3. Conducting o an informal study4. Formulation of the research design5. Collection of information6. Analysis and interpretation of data7. Presentation of research findings International Marketing Chapter-4 International Marketing Intelligence
  • 17. Secondary And Primary Data Secondary data are data which have already been gathered by somebody else and are available to others for use. Such data may be available in published or unpublished form. Primary data, are first-hand data collected by the researcher. It may be noted that even some of the primary data may be unreliable. International Marketing Chapter-4 International Marketing Intelligence
  • 18. Observational Research This is the method of collecting data by observing the behavior of people in a given situation It may be in a natural or simulated situation It may be made openly, through hidden cameras, one way mirrors or by disguised observers Marketing International Chapter-4 International Marketing Intelligence
  • 19. Merits of ObservationalResearch1. It provides information about the actual behavior of consumers2. Chances of bias are limited3. It helps to obtain information which consumers are unwilling or unable to provide International Marketing Chapter-4 International Marketing Intelligence
  • 20. Limitations of ObservationalResearch1. It is helpful in getting information only about certain aspects of consumer behavior.2. It provides information only about how consumers behave: it does not provide any information as to why consumers behave so.3. It is helpful only as a supplement of other methods. International Marketing International Marketing Chapter-4 Intelligence
  • 21. Survey research1. Personal interviewing2. Telephone interviewing3. Mail questionnaires International Marketing Chapter-4 International Marketing Intelligence
  • 22. Personal interviewinga) Individual interviewing : it is more suited than group interviewing for collecting information that is too personalb) Group interviewing : It is less costly. Certain information may be forthcoming from group interviewing International Marketing Chapter-4 International Marketing Intelligence
  • 23. Merits of Personal Interviewing1. It is the most direct way of eliciting information from the respondents.2. It enables the researcher to take the respondent into confidence so as to get his full cooperation.3. It enables clarification of points. International Marketing Chapter-4 International Marketing Intelligence
  • 24. Merits of Personal Interviewing4. It enables the cross-checking of the information provided.5. It provides flexibility needed for data collection.6. It enables the investigator to observe the environment of the respondent. International Marketing Chapter-4 International Marketing Intelligence
  • 25. Limitations of PersonalInterviewing1. It is time consuming and costly, if the respondents are large in number and widely scattered.2. Some respondents may be hesitant to reveal certain information in a face-to- face interview.3. This method needs trained people who are tactful in collecting information. International Marketing Chapter-4 International Marketing Intelligence
  • 26. Merits of Telephone Interviewing1. Easy and quick method.2. This method enables taking the respondent into confidence, clarification of points, cross- checking of information to some extent3. As it avoids face-to-face situation, it is better for very personal or sensitive information4. It saves time and cost compared to personal interviewing. International Marketing Chapter-4 International Marketing Intelligence
  • 27. Merits of Mail Questionnaire1. When the respondents are large in number and scattered over distant places this is a preferable method.2. It is also a very economical method3. Respondents can fill in the questionnaire at their leisure and hence they may be in a position to do justice to the requirements.4. It avoids embarrassment of talking in person about certain sensitive matters. International Marketing Chapter-4 International Marketing Intelligence
  • 28. Limitations of MailQuestionnaire1. It can not be used to collect information from the illiterate.2. It does not provide scope for clarification.3. It does not provide as much scope for cross-checking. International Marketing Chapter-4 International Marketing Intelligence
  • 29. Limitations of MailQuestionnaire4. There are chances of the respondents leaving some parts of the questionnaire blank5. Many respondents may have to be reminded over and again to send back the questionnaire.6. The response set is normally very low. International Marketing Chapter-4 International Marketing Intelligence
  • 30. Sampling A survey of a few hundred consumers selected in such a way as to possess the representative character of the relevant population will serve the purpose of marketing research. International Marketing Chapter-4 International Marketing Intelligence
  • 31. Reasons for Sampling1. When the population size is very large, it is not possible to collect information about all the units within a limited time.2. When the population is very large, collection of information from all the units would be prohibitively expensive.3. Besides the two problems, there could be other practical difficulties like getting sufficient number of qualified investigators, locating all the units etc. International Marketing Chapter-4 International Marketing Intelligence
  • 32. Reasons for Sampling4. A representative sample would provide reasonably adequate and accurate information and accuracy of information is not going to be justifiably enhanced by studying the entire population.5. In certain situations, sampling is the only justifiable method. International Marketing Chapter-4 International Marketing Intelligence
  • 33. Sample Characteristics1. It should be representative of the population so that the information collected from the sample will be dependable2. The sample should be of adequate size to ensure reasonable accuracy of information.3. Sampling is justifiable in terms of time and International Marketing other resources. International Marketing Chapter-4 Intelligence
  • 34. Non-Probability Sampling1. Convenience sampling2. Quota control sampling3. Judgment sampling International Marketing Chapter-4 International Marketing Intelligence
  • 35. Probability Sampling1. Simple random sampling2. Stratified random sampling3. Systematic sampling4. Cluster sampling International Marketing Chapter-4 International Marketing Intelligence
  • 36. Research Agencies Advantage of research agency1. Expertise2. Objectivity3. Knowledge and familiarity4. Cost effectiveness International Marketing Chapter-4 International Marketing Intelligence
  • 37. Selection Of Agency Selection of right agency involve a careful process. The first step is collection of information about the research agencies. A small number should be selected by a preliminary screening. International Marketing Chapter-4 International Marketing Intelligence
  • 38. Selection Of Agency From that two or three are selected and a detailed discussion about the research proposal is held. One best is selected after that and the terms and conditions should be clearly laid down in a contractor letter of agreement. International Marketing Chapter-4 International Marketing Intelligence
  • 39. Problems in Internationalresearch1. The cultural differences make foreign market research a difficult task.2. It is often very expensive3. The research methodology suitable for one market may not be suitable for another market. International Marketing Chapter-4 International Marketing Intelligence
  • 40. Summary The areas of information requirement for IM includes1. IM decision related information2. Market selection related information3. Product related information4. Promotion related information5. Distribution related information6. Competition related information. Marketing research forms a part of marketing information. International Marketing Chapter-4 International Marketing Intelligence
  • 41. Exploratory and conclusive research arethe two types of research.Observation and survey are the twomethods of primary data collection.Expertise, objectivity, knowledge andfamiliarity and cost effectiveness arethe advantages of a good research firm. International Marketing Chapter-4 International Marketing Intelligence