Attempts to understand the theory of marketing may take a number of avenues. Much research has been undertaken that focused on the impact of the practice of marketing and the results of these marketing activities as they apply to the theory of marketing. Based on your current understanding of international, multinational, and global marketing research, answer this question:
Is global marketing research a myth or reality?
Provide rationale and examples in your answer.
Further the discussion in any of the following ways: draw conclusions from the results of your peers' research, ask questions, provide statements of clarification specify a point of view and your rationale, respectfully challenge a point of discussion, and/or draw a relationship between one or more points of discussion.
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Global marketing research is a very strong and vivid reality, due to the fact that this kind of research is what multinational corporations utilize in order to ascertain as to the level of opportunities that are available for the marketing of their goods and services across the globe. Global marketing research is crucial to helping multinational corporations to understand what goods and services are the most highly demanded within different countries around the world. ...
This solution describes the vivid realities of international marketing research.
Marketing Research for JavaJoy's Approach to International Expansion
JavaJoy, Inc. was founded by Hank Sanchez in 1980. His vision was to elevate coffee to the epicurean level of fine wine. Hank's family had been in the coffee bean brokerage business for generations but he knew that even the finest and most carefully roasted coffee beans required an excellent brewing system to achieve a beverage with optimal flavor and aroma. He started JavaJoy to develop, manufacture and distribute high-end coffee brewing systems that would meet his exacting requirements.
JavaJoy has two primary sales channels. They market directly to the medium and large restaurant chains that maintain technical staffs who specify equipment like brewers. Sales to smaller chains, independent restaurants and institutions are generally made through a network of kitchen equipment suppliers (KES) that tend to be regional in focus. The JavaJoy product line is very well known and highly respected in the industry but, due to its high price, Hank had only enjoyed limited success until the market for gourmet coffee drinks exploded in the 1990's. With this new market growth, Hank wants to recast his 5-year strategy to take advantage of the expanding market.
You have been hired as JavaJoy's first Marketing Manager. You have questions about current market size, growth potential, buying habits, distribution channels, and competition, just to name a few. But you quickly realize that much of the existing market knowledge within JavaJoy is based on management experience and perception, which does not necessarily reflect the current reality of the booming market. You need to quickly sort out fact from opinion, determine how to clearly define the market(s) for beverage brewing equipment, and determine where these markets are heading so you can supply Hank with the information he needs to generate his revised strategy.
It's clear that Hank wants the company to grow, but how can this be accomplished? What are the possible alternative approaches, and which is best? What growth can be anticipated? What are the threats to growth? Remember that the ultimate decisions concerning how to grow constitute strategic planning. Your job at this point is to provide accurate and timely information to support that strategic planning process. To provide the answers you have to begin asking questions, gathering data, and developing information.
Hank is the kind of leader who gets a big new idea, seemingly all at once, and then galvanizes everyone around him into action on it. Hank has just finished reading the latest "best selling" marketing book and is convinced that JavaJoy should go international. Having no experience in any off-shore brewing equipment market, he has come to you for recommendations on how to proceed.
Sort the questions into 3 to 5 general problem areas. Examples might be "Anticipated growth in coffee brewer sales", or "Trends in coffee drink consumption". All of the individual questions must fit into a topical area, but some might fit well into more than one area.
State the problem/opportunity definition that clearly articulates the issue and appropriately covers the scope of the project (the associated list of detailed questions).
You have volunteered to develop a presentation to Hank which includes the following:
1. The selection you will now make of best research approach for this project.
2. Your grouping of the detailed questions from Part One according to your chosen research technique.
3. Your explanation of why you believe the specific technique to be the best choice.
4. Your specification of what data you expect to gather.
5. Any gaps or difficulties you expect to encounter.View Full Posting Details