XYZ, Inc.'s executive management team has decided to market the organization's top-selling product to the country China. You are the marketing manager for XYZ, Inc.
Prepare a paper in which you analyze the various international marketing research methodologies and resources available to you for China. Analysis should address the following:
- State the objectives of your research.
- 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.
- Justify your selections.
International Marketing Research in China
Globalization has lead to the progressive integration of various national economies and broke down the financial and trade flow barriers all round the world. This has given the companies an opportunity to operate world widely in the areas providing maximum returns (Rialp, 2007). Due to the market growth rate and size of market, various multinational companies are attracted towards the Chinese market. According to the observers and the market researchers, it has found that the Chinese market has an extra potential for the companies, which influences the growth and economy of both the host country and the home country.
With the advent of globalization and privatization in the Chinese markets, MNC's are entering into the Chinese region for the expansion of their business. Due to the traditional standard of living, the enormous competition of job represented by the billion populations and the low understating of the technology and importance of technological environment, the workforce is very cheap in the China (Ambler, Xi & Witzel, 2008).
XYZ Inc. has decided to become global and selected the Chinese market to promote the top selling products of the company. By means of the following paper, I am going to analyze the various parameters that are associated with the international marketing research methodologies and resources available in the company to operate in the Chinese market.
Marketing at the international level, involves all the activities that form the part of domestic marketing. An enterprise engaged in the international marketing has to correctly identify, assess and interpret the needs of the overseas customers and carry out integrated marketing to satisfy those needs. The main objective of this research study is to assess various areas that are related to the marketing in China (Ambler, Xi & Witzel, 2008). With the help of this research, the management would be able to analyze the various elements that must be considered at the time of marketing a product in the international market such as target potential customers, demand of the consumers, environmental and cultural dynamics, distribution channel, promotional strategies, ...
This solution discusses international marketing methodologies and resources.