Introduction to International Market Research Key Elements for

Introduction to International Market Research Key Elements for International Success

Why market products internationally? Globalization is the economic, social and cultural connectivity with people in all parts of hte world. The corporate world started using the terms with the introduction of the internet and global economy.

What is International Market Research? International marketing research is the systematic design, collection, recording, analysis, interpretation, and reporting of information pertinent to a particular marketing decision facing a company operating internationally.

Marketing Principles In both international and domestic market research, the marketing principles remain the same.

Marketing Principles The Marketing Mix or 7 p’s Product Price Place Promotion People

Studying the Differences in the Cultural Environment Culture is defined simply as the learned distinctive way of life of a society

Studying the Differences in the Cultural Environment Customs & Traditions A custom (also called a tradition) is a law or right or usual way, which is not written and is in practice. It is any thing or action which lots of people do, and have done for a long time. Usually, the people come from the same country, culture, time or religion. If something is usually done the same way, you might say that is the "customary way" of doing things. This is also called "conventional". Examples: In some countries it is polite/respectful to bow to older people. In some countries it is OK to burp while eating food. In some countries you take your shoes off before entering the house In some places they sit on the floor and eat

Studying the Differences in the Cultural Environment Languages & Slang The method of human communication, either spoken or written. It is the system of communication used by a particular community of country. Slang is Influenced by different languages, dialects, cultures, sayings, and on some occasions, tone or accent of a voice.

Studying the Differences in the Cultural Environment Deomgraphics Demographic segmentation is market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education. Demographics can be segmented into several markets to help an organization target its consumers more accurately.

Studying the Differences in the Cultural Environment Trends & Current Affairs A trend reflects what seems to be going around at any given time. It can be in any area and doesn't only reflect fashion, pop culture and entertainment. Current Affairs are political, social, and economic events and movements that are happening now and are discussed in news programs and newspapers

Poor or inaccurate research can lead to bad marketing decisions. It is critically important to plan and undertake research effectively.

Resources https: //www. slideshare. net/levi 22 usa/international-marketing-mistakes-related-to-culture https: //youtu. be/LKNKvl 7 v. T 5 c https: //www. slideshare. net/GLewis 16/globalization-in-hrp https: //www. slideshare. net/gyaanmasti/international-marketing-research-13954193 https: //simple. wikipedia. org/wiki/Custom https: //goo. gl/lf. Wn. NY https: //www. vocabulary. com/dictionary/trend