Explain the Scope of International Marketing Research.
Scope of International Marketing Research:
It is the International Marketing Research that facilitates the marketing management to carry out marketing functions consistently, effectively and smoothly. As such international marketing research covers the total marketing activities involved in decisions of a marketer.
Experts have identified a large number of research activities which may be grouped as under:
Product Research: It covers the following:
- Customer’s acceptance of proposed new products.
- Making comparative studies of competitive products.
- Determining current or new uses of present products.
- Evaluating new competitive product’s.
- Evaluating proposed new products.
- Determining sources of customer dissatisfaction with products.
- Simplifying product line.
- Making, packaging and design studies.
- Use, brand preference etc.
Customer Research: It may cover the foll6wing:
- Analyzing size of market for existing products.
- Estimating demand for new product.
- Sales forecasting.
- Determining characteristics of markets for products.
- Analyzing sales potentials and relative profitability of territories.
- Studying trends in market size and composition.
Sales Research: It may cover the following:
- Estimating or revising sales territories.
- Estimating present and proposed sales methods.
- Studying competitive pricing.
- Analyzing salesman’s activities and effectiveness.
- Setting sales quotas.
- Studying distribution cost.
Advertising Research: It may cover the following:
- Estimating advertising effectiveness.
- Analyzing competitive advertising practices.
- Selecting advertising media.
- Making motivational or qualitative studies.