2. You are the marketing manager for a global organization. You have developed a business product that can be marketed both in the U.S. and Japanese markets. Describe the steps needed to understand buyer behavior and how would you develop a marketing plan to fit the needs of both of your target markets.© BrainMass Inc. brainmass.com October 25, 2018, 1:58 am ad1c9bdddf
1. Describe the role that marketing research plays in market development. Provide two examples of marketing research techniques that are in use at your company or that you have experienced recently.
Marketing research plays a critical role in market development. It enables marketer to understand the consumer needs of his segment, study the consumer preferences, find out the communication that will be most effective, understand the pricing he should use, and select the most appropriate channels of distribution.
In my company tow examples of market research are a survey on the consumer attitudes towards the products of our company. The second was an ...
marketing research in market development is discussed very comprehensively in this explanation..
Analysis Market Research
Activity 1: Research Activity: Economic Outlook
You work at a company that manufactures low-cost computers and is currently considering entering India. Use the World Development Indicators (WDI) - the World Bank's premier data compilation of data on development - to gather information on this country. Prepare a short report focusing on the economic policy and external debt, education, and infrastructure of India as it applies to your company's product. Make sure you examine the trends India may have been experiencing over the past few years in your selected variables. Your report should be a maximum of 1 page, double-spaced, Word or PDF document. However, you can have unlimited number of exhibits that should be put in an Appendix in the same file.
• Go to Resource Desk: http://globaledge.msu.edu/ResourceDesk/
• Search Phrase: "World Development Indicators"
• Resource Name: World Bank: World Development Indicators globalEDGE™
• Category: "News & Periodicals: Publications"
• Website: http://data.worldbank.org/indicator
On the World Bank website, click on the "By Country" tab and select India. Then, go to the corresponding indicators.
Activity 2: Research Activity: Business Taxation
The top management of your company has requested information on the tax policies of Denmark. Using the Denmark business guide on Deloitte International Tax and Business Guides, a resource that provides information on the investment climate, operating conditions, and tax system of the major trading countries, prepare a short report summarizing your findings on Denmark's business taxation. Your report should be a maximum of 1 page, double-spaced, Word or PDF document. However, you can have unlimited number of exhibits that should be put in an Appendix in the same file.
• Go to Resource Desk: http://globaledge.msu.edu/ResourceDesk/
• Search Phrase: "Deloitte International Tax and Business Guides"
• Resource Name: "Deloitte International Tax and Business Guides"
• globalEDGE™ Category: "Research: Multi-Country"
• Website: http://www.deloitte.com/taxguides
On the website, go to the "Jurisdiction selector" and select Denmark. Once on the Denmark page, click on "Download the Guide". The information requested can be found in the "Business taxation" section of the guide.
Note: Cite all your work where possible
Activity 3: Research Activity: Hofstede's Dimensions
The cultural distance of countries in which your firm operates is one of the many explanations of significant differences that your U.S.-based employees face when travelling to different affiliates worldwide. Typically, an index of cultural distance can be determined by summing the squared differences of country-level scores such as those introduced by Hofstede's cultural dimensions and then taking the square root of the summation (this is called the Euclidean distance). At the present time, your firm has operations in Turkey, Poland, Costa Rica, South Africa, and Indonesia. Using the Hofstede Cultural Dimensions Resource Center based on studies involving cultural dimensions to assess all five countries, determine which affiliates are located in a culture that is least and most similar to the U.S. As there are four main components of each overall cultural distance score, which component(s) can be considered most influential for each country? Your report should be a maximum of 1 page, double-spaced, Word or PDF document. However, you can have unlimited number of exhibits that should be put in an Appendix in the same file.
• Go to: http://globaledge.msu.edu
• Search Phrase: "Hofstede Cultural Dimensions Resource Center"
• Resource Name: Geert Hofstede Cultural Dimensions Resource Center
• globalEDGE™ Category: "Reference: Culture"
• Website: http://geert-hofstede.com/countries.html
• Once on the website, select the corresponding countries
• Use this Excel file with rankings for all countries.
Activity 4: Research Activity: Trade Barriers and Corruption
You work at a pharmaceutical company that is considering entering India, Chile, Canada, China and Turkey. Conduct the appropriate level of research in a trade barriers database to identify information on India's current requirements (tariffs, duties, non-tariff barriers, investment-related barriers, and intellectual property rights). Also, the company is worrying about potential corruption. Using Transparency International's Corruption Perceptions Index (CPI) that is a comparative assessment of a country's integrity performance, find how the above countries rank. Further, identify the five countries with the lowest and the five with the highest CPI scores according to this index. Do you see any trends between CPI scores and the level of economic and social development of a country? Your report should be a maximum of 1 page, double-spaced, Word or PDF document. However, you can have unlimited number of exhibits that should be put in an Appendix in the same file.
Trade Barriers Database:
The quickest way to reach this information would be to search globalEDGE using the phrase "trade barriers database" at http://globaledge.msu.edu/. Select the Market Access Database website. Once there, select "Trade Barriers Database". Then under sector, select Pharmaceuticals; under country select all (e.g., highlight all countries or just the countries you need), and under measure select all. A series of reports are listed from which those with more general titles will provide adequate insight for the exercise.
Search Phrase: "Trade Barriers Database"
Resource Name: Market Access Database
Direct link to the Website: http://madb.europa.eu/mkaccdb2/indexPubli.htm
Corruption Perception Index
Go to Resource Desk: http://globaledge.msu.edu/ResourceDesk/
Search Phrase: "Corruption Perceptions Index"
Resource Name: Transparency International - Corruption Perceptions Index
globalEDGE™ Category: "Research: Rankings"
Direct link to the Website: http://www.transparency.org/research/cpi
Or for archival data: http://archive.transparency.org/policy_research/surveys_indices/cpi/