Market Research in International Areas
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Traditionally, market research has been conducted in the home market of organizations, or in those markets that are similar to the home markets. This is due to the overwhelming emphasis on domestic sales, historically, and the difficulties inherent in moving into the international arena. As advances in transportation and telecommunications have made it possible for larger numbers of firms to compete globally, the need for increased market research in these far-flung markets has become acute. Companies need to know the market potential prior to committing resources to new markets, and market research is one of the key ways that they can gain this business intelligence. When the markets are similar to the home market in technology, language and culture, market research is fairly easily accomplished. When there are significant differences however, as when a company in a developed nation seeks to conduct business in a country that might be classified as developing or emerging, the challenges to the market research process become more formidable. This research considers key factors that influence the effectiveness of the market research as well as the research process itself, and considers ways in which companies can overcome these obstacles.THE ROLE OF QUALITATIVE AND QUANTITATIVE DATA Both qualitative and quantitative data are used in market research regardless of whether the research is conducted in developed or in developing economies. Typically, qualitative researc
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n recent years (Ford 2004).
LEGAL CONSIDERATIONS
There are legal considerations that need to be taken into account whenever market research is conducted, whether in the way that the research is conducted, how the research is used, or in the data that is generated. Privacy concerns are often the paramount legal consideration, particularly when recording devices are introduced into the market research process. Recording is often performed in order that the researchers generate a permanent record of the research so that they can return to the raw data later on. Often, the recording is done surreptitiously·even with the participants' knowledge·in order to keep the participants as relaxed and comfortable as possible. In some countries, this creates legal problems for the researchers. Additional, preliminary research is thus necessary to determine if recording devices can be used, and if so, what kind·some countries, particularly Muslim countries, may prohibit video recording of women, for example (Stafford & Stafford 1993).
The other primary area where market researchers may encounter legal difficulties is in the way that the data will be used. Countries that lack a free press or which are generally considered repressive or pr
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Some common words found in the essay are:
CONSIDERATIONS Market, QUANTITATIVE DATA, DATA Primary, CONSIDERATIONS Developing, , Market Research, SOCIOCULTURAL CONSIDERATIONS, LEGAL CONSIDERATIONS, Leonidou Rossides, Craig Douglas, market research, research process, primary data, research conducted, marketing research, retrieved 9 jan, 9 jan, jan 2005, retrieved 9, emerging economies, secondary data, 9 jan 2005, international market research, journal market research, market research process,
Approximate Word count = 3234
Approximate Pages = 13 (250 words per page)
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