International Marketing Research

            
            
             Marketing Research (MR) reduces the risk in decision-making.
             In the case of IM, good MR focuses strategic thinking on the needs of the marketplace, rather than the product. Avoids ethnocentric approach.
             --In international activities uncertainty is generally greater and the difficulties in getting (reliable) information are also greater.
             --[page 2].
             --~ 200 countries in the world make their first task -Opportunity Identification and Analysis,"" scanning for opportunities.
             --They look for three qualifying criteria:.
             * Accessibility .
             (Japan - large market but perception of trade barriers) .
             * Profitability .
             (Russian market is accessible but risk of non-payment) .
             * Market Size.
             --[page 3].
             From Scanning to Assessment: Viability for further assessment - 3 .
             Types of Market Opportunities:.
             * Existing Markets (needs already serviced) .
             * Latent markets (latent need not yet fulfilled).
             * Incipient Markets (indication of future emergence of need).
             .
             At this point analyze the nature of competition with product types - .
             * Competitive products.
             * Improved products.
             * Breakthrough products.
             (***illustrated by a matrix***).
             [page 4].
             Matrix (Gilliagan and Hird, 1985):-.
             Existent Latent Incipient.
             Competitive .
             Improved .
             Breakthrough .
             Cost & Risk.
             .
             --The matrix shows risk/cost; however it is often likely that high risk means greater potential for profit.
             --With Incipient Markets it's best position to be first to the market. - first mover-.
             --Requires further research techniques whereby target potential market is compared/contrasted to some others to identify similarities. .
             --In process, identify whether the right conditions are emerging:.
             * Demand Pattern Analysis (state of development).
             * Multiple Factor Indices (measuring demand for correlated - related products).
             * Analogy Estimation (making analogies with existing markets. use of cross sectional or time series approach).
             * Regression Analysis .
             .
             * Macro-survey Technique (construction of a scale of successively more differentiated institutions against which any country can be evaluated).