IDENTIFICATION

OF MARKETS

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COVERAGE
• RESEARCH DEFINITION
• INTERNATIONAL MARKETING
INTELLIGENCE
• INTERNATIONAL MARKETING
RESEARCH POTENTIAL PROBLEMS
• COUNTRY SCREENING & MARKET
IDENTIFICATION

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 The Definition of Research
• Systematic gathering, recording, and analyzing of data to provide information useful in
decision making
– Information is the key component in developing successful marketing strategies, and
avoiding major blunders.

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 Types of research information
• There are 3 types of research information
– (1) General information about the country, area, and/or market
– (2) Information necessary to forecast future marketing requirements----Anticipate
social, economic, consumer, and industry trends within specific markets or countries
– (3) Specific market information used for the marketing mix and marketing plans

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 Sources of International Marketing Intelligence
• Internal Data
• External Information
• Specialized Studies
• Service Companies
• Government Agencies
• International Organization
• Trade Associations
• Internet
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Breadth and scope of international marketing
research

Designing research for international marketing is considerably

more complex than for for the home country.

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 International Marketing Research Potential Problems
• Data Availability
• Timeliness
• Data Accuracy
• Comparability Problems
• Translation/Language
• Access to Respondents
• Truthfulness of Responses
• Infrastructure Constraints
• Costs of Conducting Valid Research 7
 Identification and Screening
I. Preliminary Screening
II. Estimating Market Potentials by Product Type
III. Estimating Sales Potential for Company’s Product
IV. Identifying Segments & Target Market

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 Preliminary Country Screening
• OPPORTUNITY
• Market Size
• Compatibility
• Cost & Resource Availability
• RISK
• Political
• Competitive
• Monetary
• Industrial 9
The Four Risk Matrix

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 Estimating Market Potential
• The international marketer needs to assess the size of
existing markets and forecast the size of future markets.
• The marketer uses both quantitative and qualitative
techniques for assessment.

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 Estimating Sales Potential for Company’s Product

Collect product and market specific data

• Competition
• Market
• Consumers
• Channel structure

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 Identifying Segments & Target Market
• Individuals and organizations vary in their wants, resources, geographical locations,
buying attitudes, and buying practices.
• Standardization
– The extent to which elements of the marketing mix should be standardized.
• Adaptation
– Marketers may consider every situation independently, or rely on decision-
support systems to aid in program adaptation.

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