Doole and Lowe Chapter 4.ppt

INTERNATIONAL MARKETING RESEARCH AND OPPORTUNITY ANALYSIS THE RESEARCH PROCESS Define the problem Develop an approach Design the research Undertake fieldwork Analyse the data Report and present findings 3 FUNCTIONS OF INTERNATIONAL MARKET ANALYSIS Scanning international markets to identify and analyse opportunities Building marketing information systems to monitor environmental trends Carrying out primary marketing research for input into the development of marketing strategies SCANNING INTERNATIONAL MARKETS Identification of opportunities accessibility profitability market size Nature of Competition and Level of Market Development RESEARCHING INCIPIENT MARKETS Demand pattern analysis Multiple factor indices Analogy estimation Regression analysis Macrosurvey technique RESEARCHING UNDER-DEVELOPED MARKETS Lack of reliable secondary data Cultural issues Lack of communication infrastructure Lack of literacy No market research agencies THE FOUR RISK MATRIX BUSINESS PORTFOLIO MATRIX LIMITATIONS OF COUNTRY BASED SYSTEMS Market selection is geographically based Effective secondary segmentation relies on the quality of the information base in each country Risk of differentiated approach across international markets Difficulty of applying controlled and consistent international marketing strategy TRANSNATIONAL SEGMENTATION METHODS Demographic: sex, age, income level, social class and educational achievement Psychographic: lifestyle factors - activities, interests and opinions Behavioural: patterns of consumption, loyalty to product category and brand needs benefits occasion usage EURO MOSAIC Claims to be the first pan-European segmentation system Allows the classification of 500 million consumers across the European Union on the basis of the types of neighbourhood in which they live. Elite suburbs Average areas Luxury flats Low-income inner city High-rise social housing Industrial communities Dynamic families Low-income families Rural agricultural Vacation