mkt7 - International Marketing Chapter 7 Building the...

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    International Marketing Chapter 7 Building the Knowledge Base
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International and Domestic Research What is Marketing research? Use of similar tools and techniques as in domestic research, but the environments differ
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The Primary Differences: New parameters New environments Number of factors involved Broader definition of competition
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Reasons Executives View International Research as Unimportant: Lack of sensitivity to differences in consumer tastes and preferences. Limited appreciation for the different marketing environments abroad.
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Lack of familiarity with national and international data sources and the inability to use them. Limited business experience in a country or with a specific firm may be used as a substitute for organized research.
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The Benefits of Research V(dr) - V(d) > C(r) V(dr) is the value of the decision with research V(d) is the value of decision without research C(r) is the cost of research
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Determining Research Objectives Going International: Exporting Going International: Importing Market Expansion
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Going International: Exporting Foreign-Market Opportunity Analysis
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A Foreign-Market Opportunity Analysis looks at: Total and per capita GNP, mortality rates, and population data Individual market data product data, market trends, and restrictions Governmental restrictions
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