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MARKETING RESEARCH
Dr. Hong Liu

LEARNING OBJECTIVES
The importance of marketing research in international marketing decisions  The factors involved in international marketing research  Management of international marketing research process  Sources of data availability  Challenges in international marketing research 

DEFINING MARKETING RESEARCH (1)
The “function that links the consumer, customer and public to the marketer through information – information used to identify and define marketing opportunities and problems, generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.  Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.” – The American Marketing Association 

DEFINING MARKETING RESEARCH (2)
Marketing research is defined as “the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.” - Kotler, Keller, Brady, Goodman and Hansen ( 2009)  Marketing research is the “systematic and objective identification, collection, analysis and dissemination for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing.” - Malhotra (2003) 

Importance of Marketing Research
 Introducing new products into international markets  Uncovering international opportunities for existing products  Ensuring marketing decisions are made on the solid foundation of knowledge

BLUNDERS IN MARKETING (1)
A Japanese hotel notice board: “You are invited to take advantage of the chambermaid”;  Acapulco hotel notice board: “The manager has personally passed all the water served here”;  A Bangkok dry cleaner shop: “Drop your trousers here for best results”;  A Hong Kong dentist claims to extract teeth “By the latest Methodists”;  A Roman laundry: “Ladies have your clothes here and spend the afternoon having a good time” 

BLUNDERS IN MARKETING (2)
A soft drink company in Indonesia  A ketchup company in Japan  A fast food company in Germany  Health club in Asia  American ‘ready cake mix’ in England  After-shave lotion in England 

Marketing Research and Marketing Management
Marketing Research Marketing Management Develop Alternative Strategies to Explore Opportunities Select and Implement Strategies Adjust Strategies Based on Customer Responses

Define Opportunities or Problems Test Alternative Strategies Evaluate Marketing Performance

TYPES OF MARKETING RESEARCH FIRMS
Syndicated-service research firms: These firms gather consumer and trade information, which they sell for a fee. E.g. Business Monitor (European Service) and Euromonitor  Customer marketing research firms: These firms are hired to carry out specific projects. They design the study and report the findings.  Speciality-line marketing research firms: These firms provide specialised services. The best example is the fieldservice firm, which sells field interviewing services to other firms 

RISKS OF MARKETING RESEARCH
Making a wrong assumption about the research need  Conducting the wrong kind of research to fulfil the informational needs  Misinterpreting the data once the research is completed 

BASIC REQUIREMENTS FOR MARKETING RESEARCH
Validity - Collecting the right information to meet research requirements  Reliability - The accuracy with which the data was collected  Representative - The degree to which a sample of consumers represents the characteristics of a population 

The Marketing Research Process
Define the Problem and Research Objectives Conduct a Situation Analysis Primary Research Required No Develop the Research Plan

Conduct Research Using Secondary Information Only
Make the...
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