Transcript International Marketing Opportunities

Welcome to class of
International Marketing
Opportunities
by
Dr. Satyendra Singh
University of Winnipeg
Canada
Discovering Opportunities
through Marketing Research
• Issues with international research
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Communication across cultural barriers
Adaptation of research tool
Secondary data
Primary data
Estimating foreign demand/opportunities
Analyzing/Interpreting research information
Communicating with decision makers
Top 20 Marketing Research Firms ($)
Top 25 Marketing Research Firms (%)
Secondary Data
• Problem definition
• Availability of data
– No government agency, proxy, language barrier
• Reliability of data
– Too optimistic government, false data reporting—
transfer of goods between countries, tax policies—
match production with sales
• Comparability of data
– Old data (not up-to-date), not frequently collected,
data are reported in different categories—definition of
superstore, manager
• Validating secondary data
– Judgment validity—check for correlations e.g. diapers
and babies
Primary Data
• Ability to communicate opinions
– Must have the product, understand usefulness
• Willingness to respond
– Males, maids, prestige, socially desirable answers,
suspicious
character—researcher,
in-store
cooperation, political interference
• Sampling in field surveys
– Sampling problems, no street names, no house nos.,
no accurate maps, outdated tel. Directory, limited use
of questionnaire/tel. method, lack of demographic
details
• Language and comprehension
– Language barrier, equivalent concept e.g. def of
family, literacy, back translation and parallel
translation, conservative responses (Japan vs. USA)
Estimating Market Demand
• Historical data, if available
• Production + Import
• Expert opinion
– Poll
experts—own
sales
managers,
distributors,
consultants,
government
officials—for size and growth
– Triangulation—compare estimates produced
by different sources
• Analogy (chain-ratio method)
– Establish correlation between product and
GDP/sales/…
Analyzing and Interpreting
Research Information
• Cultural understanding
– Local interpreter
• Adaptive research methodology
– More pictures, focus group
• Skeptical about primary or secondary data
– Correlate with other sources—governments…
Vals—The Values and Lifestyle (USA)
Innovators
Take-charge
Sophisticated
Curious
Survivors
Nostalgic
Constrained
Cautious
Thinkers
Reflective
Informed
Content
Achievers
Goal oriented
Brand
conscious
Conventional
Experiencers
Trend setting
Impulsive
Variety
seeking
Believers
Literal
Loyal
Moralistic
Strivers
Contemporary
Imitative
Style
conscious
Makers
Responsible
Practical
Self-sufficient
Vals—Values and Lifestyle (JAPAN)
Innovator segments show a distinct and individualistic self-concept, high Levels of involvement and
activity in areas of personal interest, and enthusiasm for innovations.
Adapter segments tend to follow the trends started by the Innovators in their interest areas, but at
moderate levels of involvement and activity.
Pragmatic segments show slightly below average involvement and activity; flexible behavior, few
distinct interests, and avoidance of risk.
Sustainers show low levels of activity, a focus on the past, and resistance to social change and
innovations
Communicating with Decision Makers