Marketing Research  The systematic design, collection,   interpretation, and reporting of   information to help marketers ...
The Importance of International Research A frequent objective of international research is that of  foreign market opport...
Process of Researching Foreign Market Potentials                            Stage One        Preliminary Screening for Att...
International Marketing Research Occurs at Different Levels…  Assessment of a  foreign market  (general              Indus...
Types of Market Research  By Source      By Methodology   By Objectives  - Primary      - Qualitative    - Exploratory  - ...
Types of Market Research: By Source Primary     Collection of data specifically for the problem or             project in ...
Secondary Data Secondary data is information that already has been collected by some  other organization. This data shou...
Uses of Secondary Data May provide enough information to resolve the problem being investigated Can be a source of new i...
Sources of Secondary Data    Other Firms                        Directories                            Governments        ...
Benefits and Limitations of Secondary Data        Benefits                           Limitations   Low cost              ...
Types of Market Research: By Methodology                             Qualitative      QuantitativeType of Question        ...
Types of Market Research: By Objective• Exploratory    Preliminary data needed to develop an idea                 further....
The Market Research Process  1. Defining the       2. Developing       3. Collecting      4. Analysing       5. Presenting...
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Oversear market research

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Oversear market research

  1. 1. Marketing Research The systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities
  2. 2. The Importance of International Research A frequent objective of international research is that of foreign market opportunity analysis. Firms must learn where the opportunities are, what customers want, why they want it, and how they satisfy their needs and wants. Research allows management to identify and develop international strategies. Firms must identify, evaluate, and compare potential foreign business opportunities and the subsequent target market selection. Research is necessary for the development of a business plan. 2
  3. 3. Process of Researching Foreign Market Potentials Stage One Preliminary Screening for Attractive Country Markets Key Question to be answered: Which foreign markets warrant detailed information? Stage Two Assessment of Industry Market Potential Key Question to be answered: What is the aggregate demand in each of the selected markets? Stage Three Company Sales and Promotion Analysis Key Question to be answered: How attractive is the potential demand for our products and services? 3
  4. 4. International Marketing Research Occurs at Different Levels… Assessment of a foreign market (general Industry information Information about a country) (relates to product category) Specific market • Economic information (used • Social / Cultural to develop • Market size • Political / Legal • Segmentation marketing plans) • Technological • Competition • Consumer • Product • Pricing • Distribution • Promotion
  5. 5. Types of Market Research By Source By Methodology By Objectives - Primary - Qualitative - Exploratory - Secondary - Quantitative - Descriptive - Causal (or experimental)
  6. 6. Types of Market Research: By Source Primary Collection of data specifically for the problem or project in hand Secondary Based on data previously collected for purposes other than the research in hand (e.g. published articles, government stats, etc)
  7. 7. Secondary Data Secondary data is information that already has been collected by some other organization. This data should be evaluated regarding the quality of the source, how recent the data is, and the relevance to the task at hand. Because secondary data were originally collected to serve another purpose, they can often only be used as proxy information. Precautions should be taken due to increasing sensitivity to data privacy. Firms must inform their customers of privacy policies. 7
  8. 8. Uses of Secondary Data May provide enough information to resolve the problem being investigated Can be a source of new ideas that can be explored later Acts as a prerequisite to collecting primary data and can help in designing the primary data collection process Helps to define the problem and formulate hypotheses about its solution Helps in defining the population / sample / parameters of primary research Can serve as a reference base to compare validity of primary data
  9. 9. Sources of Secondary Data Other Firms Directories Governments International Institutions Trade Associations Service Organizations 9
  10. 10. Benefits and Limitations of Secondary Data Benefits Limitations  Low cost  Collected for some other purpose  Less effort  No control over data collection  Less time  May not be accurate  Sometimes more accurate  May not be in correct form  Sometimes only way to  May be outdated obtain data  May not meet data requirements  Assumptions have to be made
  11. 11. Types of Market Research: By Methodology Qualitative QuantitativeType of Question Probing SimpleSample Size Small LargeInformation per respondent High Low(ish)Questioner’s skill High Low(ish)Analyst’s skill High HighType of analysis Subjective, Objective, Interpretative StatisticalAbility to replicate Low HighAreas probed Attitudes Choices Feelings Frequency Motivations Demographics
  12. 12. Types of Market Research: By Objective• Exploratory Preliminary data needed to develop an idea further. Eg outline concepts, gather insights, formulate hypotheses• Descriptive Describe an element of an ideas precisely. Eg who is the target market, how large is it, how will it develop• Causal Test a cause and effect relationship, e.g. price elasticity. Done through experiment
  13. 13. The Market Research Process 1. Defining the 2. Developing 3. Collecting 4. Analysing 5. Presenting problem and the research the the the findings objectives plan information informationSteps Distinguish between Decide on Information is Statistical Overall conclusions the research type - budget collected manipulation of to be presented needed e.g. according to the data collected rather than - data sources the plan ( it is (e.g. regression) overwhelming - exploratory - research or subjective approaches often done by statistical - descriptive analysis of focus methodologies - research external firms) - causal groups instruments - sampling plan - contact methodsComments If a problem is The plan needs This phase is Significant Can take various vaguely defined, to be decided the most costly difference in forms: the results can upfront but and the most type of analysis - oral presentation have little flexible enough liable to error according to - written conclusions bearing on the to incorporate whether market supported by analysis key issues changes/ research is iterations quantitative or - data tables qualitative

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