International Marketing Research Methodologies as Numerous Countries Thesis

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International Marketing Research Methodologies

As numerous countries across the globe have decided in favor of policies and practices which liberalize their markets, large economic agents are reaping the benefits. On the one hand, there is the increased access to resources, including all commodities, human resources, technologies and capitals. On the other hand, there is the incremental access to wider consumer markets, which quickly materialize in superior sales levels. Given this status quo, more and more organizations look to expand their operations outside their native countries.

Asia has, for instance, been an extremely popular destination for outsourcing businesses due to its numerous comparative advantages, such as an increased and skilled labor force or a cost effective labor force. Nevertheless, it has also constituted a major destination of foreign exports, which have found here a major market. Despite this however, not every product can be sold into India and expected to register great success. The organizations' endeavors have to commence with a thorough analysis of the Indian market in order to anticipate its response to the product considered for introduction. This approach will also be taken by XYZ Inc.

There are numerous ways in which the company could go about conducting its marketing research of the Indian market. Six of the most international market methodologies promoted by the specialized literature are:

(1) Surveys

(2) Focus groups

(3) Existent databases

(4) Personal interviews

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(5) Observation

(6) Field trials

Surveys

Thesis on International Marketing Research Methodologies as Numerous Countries Assignment

Surveys are extremely popular market research tools for the numerous benefits they generate. First of all, they imply reduced expenditure. Then, they reveal the honest opinion of the respondents, answers which are then statistically reliable. Additionally, given the recent technological developments, surveys can easily be conducted online, requiring as such reduced time and efforts from the researcher and also increasing the speed of the data collection process (Kotler, Armstrong, Wong and Saunders, 2008). Nevertheless, they also reveal some shortages. For instance, the respondents in a survey could give biased and subjective opinions, meaning then that the final result of the survey is not necessarily objective, but subjective, as influenced by the individual perceptions of the respondents. The main resource of this methodology would be constituted by the Indian individuals responding to the survey.

Focus groups

A focus group session generally implies open discussions, moderated by a marketing specialist. This individual brings into discussion the various aspects of a given product or service and looks for the reactions and responses of the interlocutors. The conversations generally take place within a special facility, equipped with recording devices, so that the reactions can be further analyzed (All Business, 2009). The main resource of this methodology is also constituted by the people answering the questions. The main advantage is given by the direct interaction with potential consumers, whose honest response to the product and the campaign is easily observable. The disadvantage relies however in the massive time and resource investments they require.

Existent databases

The analysis of the existent databases can virtually include all information available from primary and secondary sources. The primary resources include previous studies conducted by XYZ Inc., while the secondary resources include the materials of other researchers, based on studies conducted outside the organization. The major advantage of this approach is that of wide and easy access to large amounts of information. The actual workloads are reduced and the researchers are given the opportunity to capitalize on the useful results of… [END OF PREVIEW] . . . READ MORE

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