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Global Marketing and Market Research

Qian Wu
Professor A’ Deak
Global Perspective on Technology
Individual Presentation Mini-Report
                 Global Marketing and Market Research
Marketing research (Market research)

Definition:
It’s a form of business research and is generally divided into two categories: consumer market research and business-to business (B2B) market research. Basically consumer marketing research the buying habits of individual people while business-to-business marketing research investigates the markets for products sold by one business to another. [2]

Characteristics of Marketing Research & Importance
We know that the task for doing the marketing research is to provide management with relevant, accurate, reliable, valid and current information. Marketing managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs. They make decision about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs, marketing performance, and control. These decisions are complicated by interactions between the controllable marketing variables of product, pricing, promotion, and distribution. There are further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition and social and cultural changes. Another factor in this mix is the complexity of consumers. Marketing research helps the marketing manager link the marketing variables with the changing environment and the consumers. It also helps to remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers.
There are two major characteristics of marketing research. Firstly, it’s systematic. This characteristic is required for all of the processes in the marketing research.  Marketing research should be objective in the second place. It should be able to provide accurate information that reflects a true state of affairs.[2]
Marketing research is quite important to companies to conduct since it is the very good way to get to understand what happens in the industry, what’s the new technology comes out and the current trend in the industry to get ideas to learn and know what do customers really need and want.

Marketing Research Methods
There are two major marketing research Methods including:
Qualitative Marketing Research—small number o respondents like focus groups, in-depth interviews.
Quantitative Marketing Research—used to draw conclusions, test a specific hypothesis, which involves a large number of respondents like surveys and questionnaires.

International Marketing Research
When dealing with the international Marketing Research, it also follows the same path as the domestic marketing research but may have some differences in some specific aspects. In the international markets, customers may have different customs, cultures, and expectations from the same company. So secondary information should be collected from each of the separate countries and then combined or compared with each other. It must be a time consuming and complicated work. A saying “when come to Roma, dress like the Roman” explains this situation in a very exact way. [2]



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