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International Marketing Research Process
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International Marketing Research Process

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Questions and Answers

What change did Lego make in response to market research findings?

  • Expanded the range of dolls and action figures
  • Focused solely on educational toys
  • Introduced gender-specific toys for different markets
  • Stopped marketing gender-specific products (correct)

    • Which of the following is NOT one of the three basic market research needs for foreign markets?

  • Info to forecast future marketing requirements
  • Specific info to develop a marketing plan
  • General info about the country and market
  • Detailed understanding of local religious practices (correct)

    • What is a key reason for conducting multicultural research in marketing?

  • To adapt the marketing mix to various cultural contexts (correct)
  • To standardize product offerings without considering local tastes
  • To consolidate all marketing strategies into a single approach
  • To avoid research in non-English speaking countries

    • What aspect of international market research distinguishes it from domestic research?

    <p>Broader scope due to varied consumer behaviors</p> Signup and view all the answers

    In multicultural marketing research, why is it important to ensure comparability and equivalency of results?

    <p>To accurately understand and compare cultural behaviors</p> Signup and view all the answers

    What is the main purpose of assigning numerical scores to factors for market potential?

    <p>To create a comparable summary score for candidate countries</p> Signup and view all the answers

    Which factor does NOT contribute to a country's attractiveness for a firm?

    <p>Political traditions</p> Signup and view all the answers

    Why should managers conduct personal visits to the country before final selection?

    <p>To acquire direct experience and on-the-spot information</p> Signup and view all the answers

    What is considered a negative aspect of competitive intensity in a country?

    <p>High domestic brand loyalty</p> Signup and view all the answers

    What is the initial step in the marketing research process?

    <p>Define the research problem and establish research objectives</p> Signup and view all the answers

    What critical aspect did Lego focus on in their successful campaign targeted at girls?

    <p>Using qualitative research methods to understand preferences</p> Signup and view all the answers

    Which stage involves identifying a set of candidate countries for selection?

    <p>Preliminary screening</p> Signup and view all the answers

    What effect does membership in a trade bloc generally have on a country's attractiveness?

    <p>Increases market size and opportunities</p> Signup and view all the answers

    What does effective marketing research provide for decision-making?

    <p>Accurate and reliable information within time, cost, and technology limits</p> Signup and view all the answers

    Which source is NOT typically used for preliminary screening of political risk?

    <p>Local business surveys</p> Signup and view all the answers

    What outcome did Lego achieve from its strategic initiatives aimed at girls after extensive research?

    <p>A product line that boosted profits by over $1 billion in 2013</p> Signup and view all the answers

    During the market research phase, what factors must marketers consider regarding the research effort?

    <p>Both costs and benefits of the research effort</p> Signup and view all the answers

    What does analyzing macro variables in a country's environment help determine?

    <p>Country selection potential</p> Signup and view all the answers

    What is a potential drawback of high competitive intensity in a market?

    <p>Lower profit margins</p> Signup and view all the answers

    What is the effect of conducting thorough local market research after country selection?

    <p>It enhances understanding of local customer preferences</p> Signup and view all the answers

    What does the term 'cultural barriers' refer to in the context of country selection?

    <p>Consumer preferences and values</p> Signup and view all the answers

    What is the primary reason foreign market research has a broader scope than domestic research?

    <p>Higher levels of uncertainty</p> Signup and view all the answers

    What is the first stage in the process of international marketing research?

    <p>Identification of Candidate Countries</p> Signup and view all the answers

    Which factor is NOT considered in the preliminary screening of a market?

    <p>Consumer preferences</p> Signup and view all the answers

    What aspect might require collecting primary data in international marketing research?

    <p>Inadequate secondary data</p> Signup and view all the answers

    How does cultural distance affect international marketing research?

    <p>It complicates communication and understanding.</p> Signup and view all the answers

    What kind of data is ultimately collected if secondary data sources do not answer research questions adequately?

    <p>Primary data</p> Signup and view all the answers

    Why is an understanding of local trade practices crucial in international marketing?

    <p>They affect distribution methods.</p> Signup and view all the answers

    Which factor is assessed to determine whether a product will function well in a given market?

    <p>Physical environment</p> Signup and view all the answers

    What is the significance of distinguishing between the current market and the potential future market?

    <p>It allows for predictions regarding market growth.</p> Signup and view all the answers

    Which factor is primarily used to evaluate market growth?

    <p>Population growth and disposable income.</p> Signup and view all the answers

    What does market penetration indicate?

    <p>The level of product usage compared to potential market size.</p> Signup and view all the answers

    What contributes to competitive intensity in a market?

    <p>The number of domestic and foreign competitors.</p> Signup and view all the answers

    Which of the following reflects local trade regulations?

    <p>Cultural distance.</p> Signup and view all the answers

    What is a primary concern when assessing market saturation?

    <p>The proportion of market already sold.</p> Signup and view all the answers

    What is an example of an artificial barrier in trade regulations?

    <p>Non-tariff barriers such as customs procedures.</p> Signup and view all the answers

    What role does managerial judgment play in the attractiveness evaluation process?

    <p>It complements research findings.</p> Signup and view all the answers

    Study Notes

    Country Selection Process

    • Preliminary Screening analyzes key variables like political risk, economic regime, trade bloc memberships, economic development, regulations, tariff barriers, and competitive intensity.
    • In-Depth Screening focuses on cultural barriers, social environment, cultural distance, and country image.
    • Final Selection requires personal visits for firsthand experience and understanding of the local market.

    International Marketing Research

    • Basic Difference between domestic and foreign market research is the need for a broader scope due to higher uncertainty in international markets.
    • Stage 1 - Country Identification involves using statistical data to narrow down candidate regions and countries.
    • Stage 2 - Preliminary Screening: Business Environment Analysis evaluates physical environment, sociocultural environment, economic environment, and trade blocs.
    • Stage 3 - In-Depth Screening analyzes market size, market growth, competitive intensity, and local trade regulations.
    • Market Size Considerations: include current market size and future market potential, assessing factors like population demographics, disposable income, and per capita spending.
    • Market Growth Considerations: evaluate population growth, disposable income growth, market penetration, and growth in buying frequency and amounts.
    • Competitive Intensity Analysis: involves analyzing the number of competitors, market shares, and competitive advantages, focusing on both domestic and multinational companies.
    • Local Trade Regulation Analysis: focuses on infrastructure barriers, cultural diversity, and artificial barriers like regulatory barriers and non-tariff barriers.

    Local Market Research

    • Purpose: Matching company strengths and weaknesses with the specific features of the local market.
    • Marketing Research: Systematically gathering, recording, and analyzing data for informed decision-making.
    • Multicultural Research: Important for global companies standardizing their marketing mix across different cultures, focusing on comparing and contrasting language, economy, social structure, behavior, and attitude patterns.

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    Related Documents

    Chapter 8: Developing a Global Vision Through Marketing Research PDF

    Description

    Explore the comprehensive steps involved in the international marketing research process, from preliminary screening to final country selection. Understand how political, economic, and cultural factors play a crucial role in identifying and analyzing potential markets. This quiz helps assess your knowledge of the complexities in global business environments.

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