Answer to Question #14499 in Management for kuda

Question

discuss the role of research in international marketing strategy.

Answer 1

Marketing strategy is the basis of the company's actions in specific market conditions that determine the ways of marketing to expand target markets and achieve effective results. There are several types of international marketing strategies:

Strategy to gain market share
Innovation strategy
Strategy of innovation imitation
Differentiation strategy
Strategy to reduce costs
The strategy of waiting
Consumer individualization strategy

The use of one or few of these strategies will be impossible without research because managers need information in order to introduce products and services that create value in the mind of the customer. But the perception of value is a subjective one, and what customers value this year may be quite different from what they value next year. As such, the attributes that create value cannot simply be deduced from common knowledge. Rather, data must be collected and analyzed. The goal of marketing research is to provide the facts and direction that managers need to make their more important marketing decisions. Thus, most marketing research projects involve these steps:

Define the problem
Determine research design
Identify data types and sources
Design data collection forms and questionnaires
Determine sample plan and size
Collect the data
Analyze and interpret the data
Prepare the research report