¶ … International and Domestic Market Research
Contrast the major differences between international and domestic market research. How will this information impact the way that you will do the research for your final marketing plan?
The most significant differences between international and domestic research center on measuring the nuances and differences between cultures, and how those differences influence how unmet needs are perceived throughout the nations of interest. The definition of multi-cultural market research strategies must first build on a foundation of defining how unmet needs are perceived an acted on vs. how they are reported in research projects (Alexander, Rhodes, Myers, 2007). This is a critical point that needs to also be carried forward to research of how unmet needs are met through a variety of competing, and often substitute products. Only by mapping the specific differences in cultural values and their respective communicating of unmet needs can international vs. domestic market research be effective. An example of this is how Americans would communicate the unmet needs of a new automobile vs. how members of the Indian middle class would for example in that evolving nation. Americans would be focused on fuel mileage and a stylish exterior, while Indians would be focused on more utilitarian aspects of the vehicle.
The same differentiation of how research is completed in specific countries also needs to pervade the development and execution of media research in various countries as well. International market research that centers on measuring branding effectiveness often has a focus on aligning with cultural values and norms, and in certain countries, religious beliefs (as is the case in Islamic countries) versus a purely feature or solution focus. Market research on both media preferences including branding and the development of research plans must be attuned to regional differences within nations that are more than just driven by previous purchases of research prospects, the cultural diversity of a nation must also be taken into account if a research project is to be effective (Yin Wong, Merrilees, 2007).
References
Alexander, N., Rhodes, M., Myers, H (2007). International market selection: measuring actions instead of intentions. The Journal of Services Marketing, 21(6), 424-434. Retrieved January 28, 2008, from ABI/INFORM Global database. (Document ID: 1341239851).
Yin Wong, H., Merrilees, B. (2007). Multiple roles for branding in international marketing. International Marketing Review, 24(4), 384-408. Retrieved January 28, 2008, from ABI/INFORM Global database. (Document ID: 1363412551).
27-29) This provoked financial demands and awareness of the people in different parts of the world. People and businesses are dissatisfied with the traditional financial systems due to lack of opportunities for investors. Businesses today require more diversified portfolios for investments because this will reduce their investment risks and increase the probability of future capital flows. Increased capital mobility has increased the importance of exchange rates which is serving as a
Inappropriate exchange rates can spell disaster. A fixed exchange rate is ideal. There are sharp mismatches in the financial and the banking sectors of the countries. The national debts of countries have also become subjects of alarm and controversy. "The global economic upturn seems to be gathering pace -- it certainly is in Asia, now the world's fastest growing region. A period of economic growth offers a chance for
International Equity Markets Advantages and disadvantages of cross listing on stock exchanges When a company lists its stock exchange on many stock exchanges in different countries, it is referred to as cross listing. It entails exchanging in more than one country. However, a company can list its stocks on two stock exchanges in the same country. The administration is likely to be widened besides the generation of great pool of possible investors.
International accounting - Evaluate research theories and methodologies to classify accounting systems internationally The necessity of accounting standards is given by the fact that financial statements should describe financial performance in a fair and consistent manner. Lacking standards, users of financial statements would be required to master the accounting rules of each company, and any comparison between companies' performances would be almost impossible. Accounting standards are essential to the healthy development of
due to changes in the economical, financial, political and technological changes, the capital markets across the world are highly influenced by the changes. As compared to the past, the development in the financial sector has been observed to be at the highest rates. In order to understand and analyze the changes in the global capital markets the below report has been constructed. Based on the theme idea, which is the
European and International Environmental Laws Research Essay How do practices of consumption, disposal, and disassembly of everyday electronic objects, such as personal computers and mobile phone effect on sustainable development? Organic chemicals and heavy metals are often found near plants where electronics are manufactured, as well as in garbage dumps where the electronics are disposed of later. This can be evidenced by the presence of lead, cadmium, mercury etc. which are
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now