International Marketing Strategy

International marketing strategy

International marketing research and opportunity analysis

The research process consist of six key stages:
  1. Defining the problem ( objective has to feasible and achievable.
  2. Developing the approach to be taken
  3. Designing the research
  4. Carrying out the field work
  5. Analyzing the data
  6. Preparing the report and presentation

Research into international market issues can incorporate three major roles:
  1. Cross-cultural research, the conducting of a research project across nation or culture groups.
  2. Foreign research, research conducted in a country other than the country of the commissioning company
  3. Multi-country research, research conducted in all or important countries where a company is represented.

The role of the international market researcher is to provide an assessment of market demand globally, an evaluation of potential markets and of the risks and costs involved in market entries, as well as detailed information on which base effective marketing strategies.
To achieve this the researcher has 3 primary functions to carry out:
  1. Scanning international markets to identify and analyze the opportunities
  2. Building marketing information systems to monitor environmental trends
  3. Carrying out primary marketing research studies for input into the development of marketing strategies and to test the feasibility of the possible marketing mix options, both in foreign country markets and   across a range of international markets.

Opportunity identification and analysis:

    • Scanning international markets:
        o The researcher will look for countries that meet three qualifying criteria:
              ▪ Accessibility: tariffs, non-tariff barriers, government regulation and import regulations to assess the accessibility of the market.
              ▪ Profitability: the availability of currency, the existence of exchange regulations, government...