International Marketing Management Essay

Pages: 8 (3235 words)  ·  Style: Harvard  ·  Bibliography Sources: 15  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Advertising

International Marketing Management

Part (a) Discuss the breadth and scope of international marketing research. What are the main additional complexities faced by the international marketing researcher? (50% of the available marks)Buy full Download Microsoft Word File paper
for $19.77

Essay on International Marketing Management Assignment

The many paradoxes that international marketing researchers face underscore the critical nature of the information they provide. One of the most significant paradoxes is that of contending with the perception of globalization creating large, undifferentiated markets (Cayla, Arnould, 2008) which actually hide nuances and specific unmet needs that can translate into significant value for those segments and audiences. International market researchers must have a passion fro delving into how consumers in each foreign country, region and community vary in terms of how they perceive value in the products or services being researcher. In succinctly and precisely crystallizing these specific unmet needs, preferences and wants, international market researchers provide the most critical information of all to executives and decision makers in companies. Using this data to align the specific services and product definitions so they align with the specific needs, preferences and wants of consumer segments, international market researchers provide essential insights to marketing management. Market research, both domestically and internationally, is the lifeblood of any marketing strategy as it defines how products and services need to be modified to reflect what is of value. The best international market researchers and marketing management teams can quickly use market data to define the extent of variation between existing products and services and the unmet needs, preferences and wants of the specific international markets they look to sell and serve. In effect international marketing research then can deliver a roadmap that defines the variations in international perceptions, attitudes and behaviors that vary between one specific international location and other (Walle, 1997). International market research completed consistently and with a high level of quality, reliability and accuracy over times generates a strong set of insights into each of the specific countries and regions of interest to a company. Proctor & Gamble P&G) is an example of one company specifically that has been able to accumulate decades of international marketing research into marketing intelligence systems internally including the development of new product idea generation frameworks based on internal marketing research (Stasch, Lonsdale, LaVenka, 1992).

What P&G and other companies who have accumulated years of international marketing research have learned is that the development of market intelligence systems gives them insights into the risks of launching new products into entirely new geographies. The company's efforts to launch skin care products into Japan, which is highly nationalistic in its reliance on cremes that women use to look less tan and even pale as it connotes being a member of the upper incomes of that country, took years of effort on the part of P&G to emulate in both product design and channel strategies. Not only did P&G need to create their own R&D center to overcome the highly nationalistic attitudes Japanese consumer have about facial cremes, they also needed to create an entirely new distribution channel of salons, as selling these types of cremes in department stores as they are done in the U.S. is not how Japanese consumers want to purchase products. International marketing research also showed how critical it is for Japanese consumers to also have material safety data sheets (MSDS) highly technical documents that define the contents of the creme and its longevity. The Japanese consumers thrive on this type of technical data for their higher-end products, and this all was discovered through international marketing research. The cultural factors of using these cremes in the Japanese market also connoted higher social and economic standing, as the members of the elite classes have defined suntanned and sunburned skin as the mark of field workers and manual laborers. Again international market researchers working for P&G found this out during extensive and lengthy interviews onsite at beauty salons where Japanese women go to get these creme treatments.

In terms of defining market research methodologies and project plans for international marketing research projects, researchers often begin with secondary data analysis from foreign ministries of economic development, economic research and in several countries, the use of consumer-based research data. Countries that excel in these areas of information for international market researchers are Australia, India, New Zealand which has exceptionally good secondary data for researchers, and the United Kingdom. These nations have specific focuses on how to nurture and develop greater levels of business development with other nations and as a result they have invested heavily in these areas of secondary data providing. International market researchers often begin with a strategic, environmentally focused analysis of factors impacting the political, economic, social, technological, legal and environmental factors (PESTLE) that could have a potential effect on the company's launch of products or services into the country of interest. PESTLE analysis includes a Strengths Weaknesses Opportunities and Threats (SWOT) analysis of the broader economy that taken together provides an opportunities and risk assessment of launching a new subsidiary, entering a joint venture or creating an entirely new company. Using PESTLE analysis techniques international marketing researchers will be able to define the best market entrance strategy given the specific constraints of the host government. This is particularly the case of international market researchers studying how to gain access to India for example, which requires Foreign Direct Investment (FDI) companies investing in India to have a native Indian on their board of directors and also to submit Corporate Social Responsibility (CSR) plans. International marketing researchers provide this level of strategic insight, again showing how critical this function is globally.

In devising primary research studies, international market research need to take into account the fundamental differences in cultural expectations of the interviewing process, in addition to defining the timeline for the entire project to be more consistent with each nations' perception of time itself. In addition to these factors, the interviewing techniques will need to be significantly modified from the typical approaches taken in the U.S., the UK, Australia or any other highly westernized nation. An example of how the research methodology would need to be modified is in the interviewing of men in an Islamic nation for example. Having women interview men in Saudi Arabia would not work culturally as the country has a very high level of patriarchy and masculinity on Hofstede's cultural dimensions (Hofstede, 1983). The use of the cultural dimensions model to under differences in respondents between the U.S. And Asia has been quite successful in providing greater insights for international marketing research staffs looking to understand variations in cultural values, preferences, needs and wants (Hofstede, 1997). The Cultural Dimensions Model continues to provide insights into how best to organize research methodologies given variations in the five cultural dimensions Dr. Hofstede has found through his international cultural research. His website www.geert-hofstede.comprovides a comparison engine for comparing nations in the five cultural dimensions and then modifying the methodology of primary research accordingly. The use of the Five Cultural Dimensions also has had significant effect on the defining and execution of survey-based metrics on international market research projects (Lehmann, Keller, Farley, 2008).

International marketing research is the lifeblood of any company today, as globalization is forcing every company to place a higher priority on this critical function. The challenge for many companies looking to expand internationally is defining an accurate budget. Outsourcing primary research in other nations is expensive, especially in Europe where the Euro is their currency and the dollar has often been weaker against this currency. On Asian nations where the dollar is stronger, it is more economical. Yet there is the critical need to ensure that the quality levels, specific goals and objectives of the research and the correct measurement of key success factors is effectively captured. The opportunity cost of using an outsourcing firm to capture international market research carries the risk of not getting exactly the data required. Due to this fact many companies opt to have a market research project manager in the cost country to ensure a high level of quality is achieved. Costs vary by the level of depth required of the data, yet the lesson learned of having the best available data requires guidance of a project manager from the company sponsoring the research to ensure the goals are achieved.

Part (b) "Perhaps advertising is the side of international marketing with the greatest similarities from country to country throughout the world. Paradoxically, despite its many similarities, it may also be credited with the greatest number of unique problems in international marketing" (Ghauri and Cateora 2006). Discuss. (50% of the available marks)

The contention that brands now define nationalities more than the nations themselves do has also led to the conclusion that due to the onslaught of globalization, brands are accepted on a ubiquitous level. Coca Cola, Nike and other global brand leaders in fact have specific cultural strategies they execute on to ensure their brands' value and message are relevant and valued by each specific international audience. Nike specifically concentrates on an aggressive integrated… [END OF PREVIEW] . . . READ MORE

Two Ordering Options:

?
Which Option Should I Choose?
1.  Buy full paper (8 pages)Download Microsoft Word File

Download the perfectly formatted MS Word file!

- or -

2.  Write a NEW paper for me!✍🏻

We'll follow your exact instructions!
Chat with the writer 24/7.

International Marketing Management Key Aspects of Political Term Paper


International Marketing Management A) Overseas Marketing Globalization Essay


International Marketing Is Really No Different Form Term Paper


International Marketing Management A) Market Entry Strategy Term Paper


International Marketing How Does Global Marketing Management Term Paper


View 200+ other related papers  >>

How to Cite "International Marketing Management" Essay in a Bibliography:

APA Style

International Marketing Management.  (2008, December 4).  Retrieved June 1, 2020, from https://www.essaytown.com/subjects/paper/international-marketing-management/54497

MLA Format

"International Marketing Management."  4 December 2008.  Web.  1 June 2020. <https://www.essaytown.com/subjects/paper/international-marketing-management/54497>.

Chicago Style

"International Marketing Management."  Essaytown.com.  December 4, 2008.  Accessed June 1, 2020.
https://www.essaytown.com/subjects/paper/international-marketing-management/54497.