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IDENTIFICATION

OF MARKETS

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COVERAGE
• RESEARCH DEFINITION
• INTERNATIONAL
MARKETING
INTELLIGENCE - sources
• INTERNATIONAL
MARKETING RESEARCH
POTENTIAL PROBLEMS
• COUNTRY SCREENING &
MARKET IDENTIFICATION

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The Definition of Research
• Systematic gathering, recording, and analyzing of
data to provide information useful in decision making
– Information is the key component in developing
successful marketing strategies, and avoiding
major blunders.

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Types of research
information
• There are 3 types of research information
– (1) General information about the country, area,
and/or market
– (2) Information necessary to forecast future
marketing requirements----Anticipate social,
economic, consumer, and industry trends within
specific markets or countries
– (3) Specific market information used for the
marketing mix and marketing plans

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Sources of International
Marketing Intelligence
• Internal Data
• External Information
• Specialized Studies
• Service Companies
• Government Agencies
• International Organization
• Trade Associations
• Internet
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International Marketing Research
Potential Problems
• Data Availability
• Timeliness
• Data Accuracy
• Comparability Problems
• Translation/Language
• Access to Respondents
• Truthfulness of Responses
• Infrastructure Constraints
• Costs of Conducting Valid Research 6
Scope of international
marketing research

Designing research for international


marketing is considerably more
complex than for for the home country.

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Identification and Screening
I. Preliminary Screening
II. Identifying Segments & Target
Market
III. Estimating Market Potentials
by Product Type
IV. Estimating Sales Potential for
Company’s Product
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Preliminary Country
Screening
• OPPORTUNITY
• Market Size
• Compatibility
• Cost & Resource Availability
• RISK
• Political
• Competitive
• Monetary
• Industrial 9
The Four Risk Matrix

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Identifying Segments &
Target Market
• Individuals and organizations vary in their wants,
resources, geographical locations, buying
attitudes, and buying practices.
• Standardization
– The extent to which elements of the marketing
mix should be standardized.
• Adaptation
– Marketers may consider every situation
independently, or rely on decision-support
systems to aid in program adaptation.

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Estimating Market Potential
• The international marketer needs
to assess the size of existing
markets and forecast the size of
future markets.
• The marketer uses both
quantitative and qualitative
techniques for assessment.
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Estimating Sales Potential for
Company’s Product

Collect product and market specific


data
• Competition
• Market
• Consumers
• Channel structure

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