XYZ, Inc.'s executive management team has decided to market the organization's top-selling product to Malaysia. You are the marketing manager for XYZ, Inc.
Analyze the various international marketing research methodologies and resources available to you for your selected country. In your analysis, address the following:
o State the objectives of your research.
o Select the appropriate international marketing research resources and methodologies, such as surveys, focus groups, and existing databases, that you would use to create a marketing campaign in your selected country for XYZ, Inc.
o Justify your selections.
Response is about 1,100 words. No citations.
Marketing research is the primary tool through which organizations understand their current, as well as potential customers. The process of international marketing research shares many commonalities with its domestic counterpart, like same steps are followed for problem definition, methodology is designed in a similar way, field work is conducted, and final report and recommendation is presented. The major differences lie in the social, political, and economic culture of different countries and the problem of comparability of results. As businesses expand further and further into international territories, the role of timely market research to guide decision making becomes very important. With world-wide market integration and removal of trade barriers between countries, there is an ever increasing pressure to consolidate and integrate marketing strategies across countries. In the current situation, researchers would be required to broaden their skill base to design, implement, and interpret research. Since environment never remains the same due to technological advancements, researchers would need to develop capabilities to design and conduct research in these environments.
Various research methodologies which could be utilized in an international market are:
These methodologies allow a researcher to assign numbers to the data collected. It tends to take a deductive approach which starts with a hypothesis and then tests it out to see if it holds true. In quantitative research methods, primary data are fixed numbers or responses like yes or no that are given some numerical value so that they can be easily counted and statistically analyzed. Quantitative research is performed on a sample population and then conclusions are drawn from this sample that can be generalized to the population as a whole.
Examples of quantitative research methodologies include:
1. Statistical/Co relational Analysis: This is a research designed to see whether there is a relationship between two or more variables.
2. Surveys: Surveys collect information from individuals to measure relationships or correlations among different variables such as background, behavior, attitudes, opinions, and knowledge of events.
3. Experimental: This provides a strategy ...
International marketing research for methodologies appropriate for Malaysia are examined.