Transcript Assessing Global Markets. Marketing Research.

Marketing Research in Global Markets
Why Bother?
Alexander Consulting Enterprise
4/5/2017
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
Alexander Consulting Enterprise
4/5/2017
Avoid Cultural Blunders
Meaning of Color
Meaning of Numbers
Meaning of Context
Alexander Consulting Enterprise
Claudia’s Satanic
Chanel Dress
4/5/2017
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.
Alexander Consulting Enterprise
4/5/2017
The Scope of International Marketing Research
International Marketing Decisions Requiring Marketing Research
M arketin g M ix
T yp e o f R esearch
D ecisio n
Product policy

F ocus groups and qualitativ e research to
generate ideas for new products
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Surv ey research to ev aluate new product
ideas

C oncept testing, test m arketing
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Product benefit and attitude research

Product form ulation and feature testing
Pricing

Price sensitiv ity studies
D istribution

Surv ey of shopping patterns and behav ior

C onsum er attitudes toward different store
types

Surv ey of distributor attitudes and policies
Adv ertising

Adv ertising pretesting
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Adv ertising posttesting, recall scores
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Surv eys of m edia habits
Sales

Surv eys of responses to alternativ e types
Prom otion
of prom otion
Sales F orce

T ests of alternativ e sales presentations
Alexander Consulting Enterprise
4/5/2017
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.
Alexander Consulting Enterprise
4/5/2017
Collection of Secondary Data
Availability of Data
Reliability of Data
Comparability of Data
Validating Secondary Data
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4/5/2017
Validating Secondary Data:
-
Who collected the data ? Would there be any reason for
purposely misrepresenting the facts ?
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For what purpose were the data collected ?
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How were the data collected ? (Methodology)
-
Are the data internally consistent and logical in light of known
data sources or market factors ?
Alexander Consulting Enterprise
4/5/2017
Collection of Primary Data:
Criteria for Good Research:
- Objectivity
- Validity
- Reliability
- Cost
Alexander Consulting Enterprise
4/5/2017
1. Quantitative Research
- Questionnaire
- Survey
2. Qualitative Research
- Focus Group
- Ethnographic Studies
- Free Interview
- Observation
Alexander Consulting Enterprise
4/5/2017
Problems of Gathering Primary Data
- Ability to Communicate Opinions
- Willingness to Respond
- Sampling in Field Surveys
- Language and Comprehension
Alexander Consulting Enterprise
4/5/2017
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
Alexander Consulting Enterprise
4/5/2017
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.
Alexander Consulting Enterprise
4/5/2017
Online Behavioral Targeting
-Contextual Advertisements
-No legal privacy concerns. Ex: Expedia,
Google, GMail
-Browser Based Tracking
-No legal privacy concerns. Ex:
Bloomberg.com
Alexander Consulting Enterprise
4/5/2017
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.
Alexander Consulting Enterprise
4/5/2017
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.
Alexander Consulting Enterprise
4/5/2017
Demand Forecast
Trend Extrapolation
Expert Opinion
Analogy
Build Up Method
Income Elasticity
Alexander Consulting Enterprise
4/5/2017