International_Marketing_Research

International Marketing Research International Marketing Research Marketing Research (MR) reduces the risk in decision-making. In the case of IM, good MR focuses strategic thinking on the needs of the marketplace, rather than the product. Avoids ethnocentric approach. --In international activities uncertainty is generally greater and the difficulties in getting (reliable) information are also greater. --[page 2] --~ 200 countries in the world make their first task ”Opportunity Identification and Analysis,” scanning for opportunities. --They look for three qualifying criteria: * Accessibility (Japan – large market but perception of trade barriers) * Profitability (Russian market is accessible but risk of non-payment) * Market Size --[page 3] From Scanning to Assessment: Viability for further assessment – 3 Types of Market Opportunities: * Existing Markets (needs already serviced) * Latent markets (latent need not yet fulfilled) * Incipient Markets (indication of future emergence of need) At this point analyze the nature of competition with product types – * Competitive products * Improved products * Breakthrough products (***illustrated by a matrix***) [page 4] Matrix (Gilliagan and Hird, 1985):- Existent Latent Incipient Competitive Improved Breakthrough Cost & Risk --The matrix shows risk/cost; however it is often likely that high risk means greater potential for profit. --With Incipient Markets it’s best position to be first to the market. ”first mover” --Requires further research techniques whereby target potential market is compared/contrasted markets, risk, market, segmentation, research, products, potential, opportunity, need, identify, country, variables, types, similarities, scanning, product, problem, opportunities, matrix, likely, incipient, greater, first, example, countries, approach, analysis, [page, very, two, trying, transnational, techniques, technique