Final Exam Review-W11-mn

Final Exam Review-W11-mn - Final Exam Review- Multinational

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Final Exam Review- Multinational Marketing-359-Winter 2011 The exam will consist of 12-14 short answers of which you will answer 10; the questions are worth 10 points each. You will need to bring either a blue/ green book or blank notebook paper and a writing utensil (pen or pencil). You will need to answer the questions both completely and succinctly. If the question asks for a list, please use bullet points. Remember, if I can not read it, I will assume it is wrong. Topics for the questions will come from the following list: Steps of global marketing research and concerns o Information requirement Why do you need to do this research? Define the research problem (s) Choose unit of analysis Examine data availability/ determine information Needs/ assess value of research Develop research design Collect the data (secondary and primary) Analyze the data and interpret the results Much like research at home but you have to consider Cultural and other differences Concerns: Complexity of research design due to environmental differences Lack and inaccuracy of secondary data Time and cost requirements to collect primary data Coordination of multi-country research data Difficulty in establishing comparability Problems with secondary data o Accuracy of Data o Age of Data o Reliability over Time o Comparability of Data o Lumping of Data When were the data collected? Over what time frame? How were the data collected? Have the variables been refined over time? Who collected the data? For what purpose what the data gathered Getting primary data and the issues with it Survey Methods Focus Groups Questionnaires
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Ethnographic research Issues Sampling methods Contact methods Translation issues Collection of the information Market Size Assessment Can be difficult to do, especially in developing countries. Analogy Method Trade Audit Chain Ratio Method Cross-sectional Regression Analysis Global Product Strategies o Very few consumer products stay exactly the same when taken to other countries. o Industrial products are more likely to stay the same. o It depends on where the product falls on the environmental sensitivity continuum o Environmental Sensitivity Continuum o Intensive= industrial o Middle=Basic commodity-type consumer products o Sensitive=consumer products that are linked to cultural variables o Standardization vs. Customization—Factors that Favor Standardization o Standardization is offering a uniform product on a regional or worldwide basis. o Minor alterations can be made to meet local requirements. (i.e. voltage adjustments) o Product driven orientation—lower your costs via mass production o Common customer needs o Global Customers o Scale Economies o Time to Market o Regional Market Agreement o Customization—focus on cross-border differences in the needs and wants of firm’s target customers o Market driven mindset—increase customer satisfaction by adapting your products to local need o Modular and core product approaches are a mixture of the two. o
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Final Exam Review-W11-mn - Final Exam Review- Multinational

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