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International Marketing Research: A Management
BriefingWritten By: T. Davis and R. Young
Presented by: Alexandra Lucio
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Overview
Products and marketing campaigns usually need to be adapted overseas.Standardized marketing research is not enough to gain insights.Differences in cultures across countries are too large to ignore.The lack of adequate research often results in business failure.
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Marketing Mix: Product
Product might lack acceptability in some countries.
Packaging can be another source of problems.
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Marketing Mix: PricingSome companies price their products at the currency equivalent of the domestic price.Others price too high to recover extra expenses.Others price low hoping for future profits.
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Marketing mix: Place
Most important international business decision:
Established wholesale, retail or direct sales networkPiggyback on others firms’ distribution systemsBuild own channels
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Marketing Mix: Promotion
Important to understand branding, selling, advertising and promotion practices.
“Are you lactating?”
U.S: “It won’t leak in your pocket and embarrass you.”
Mexico: “It won’t leak in your pocket and make you pregnant.”
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Anything wrong?
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Difficulties with global marketing research
More diverse research projects: language, religion,race…More unknowns: market conditionsData collection methodsLonger completion timeHigher costsRestrictive laws
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Proposal for improving global marketing research
Make extensive use of secondary sourcesSeek help from government agenciesAppoint singe market research coordinatorUse alternative data collection methodsUse start-up offices as research labs
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Sources
http://www.joke-archives.com/dictionaries/badads.htmlhttp://www.parkerpen.com/sanford/consumer/parker/jhtml/index.jhtmlhttp://www.snapple.com/http://www.i18nguy.com/translations.html#clairol