Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Globalization and impacts of international marketing
Task of international marketing researcher
Important to give customers what they want
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Globalization and impacts of international marketing
Global Market Research Case Study Analysis
Globalization of companies in the global market continues to increase and have major impacts on all areas of business (Aaker, Kumar, & Day, (2007). International marketing research is one of those areas and a major function in organizations in facilitating marketing decisions outside the country the organization is established. Performing effective global market research requires knowledge and expertise in the areas of customer interests, needs, environmental factors, prices, and products of the country of interest. In this paper, the subject to analyze is the firm of Sperry/MacLennan (S/M), a Dartmouth, Nova Scotia, architectural company, focusing on their plans to export the company’s services. The analysis includes an overview of the company’s situation, identifies the key issues, decision-making on the issues, and the value of market research in the global community of interest.
Situation of the Company
The firm of Sperry/MacLennan (S/M), established in 1972, was a thriving architectural firm specializing in recreational facilities in the Canadian markets. In 1981-1982, the firm reduces staff because of the slow-down in the industry resulting in low demand of architectural services. During 1983, S/M received a major project in Canada, leading to increase recognition and its reputation as an architectural firm for creative design in sports facilities. This project and the recognition received from it came at a striking time for S/M because the construction industry rebounded in 1984 remaining strong through 1987. In addition, S/M received several Canadian architect awards for their design of sport complexes in major areas securing their position as a leader in architectural ser...
... middle of paper ...
...tive market research can result in the success or failure of any marketing campaign if the marketing research function is not properly executed. Globalization is happening in every country and organizations continue to move into new markets outside of their own boundaries. Global market research holds the information to execute decisions resulting in high value for organizations. As discussed in this paper, Sperry/MacLennan used global market research in determining the direction of the firm. By seeking new markets in other countries, S/M tends to make the best choice for maximizing profits and market share long-term.
Works Cited
Aaker, D. A., Kumar, V., & Day, G.S. (2007). Marketing Research (9th ed.). Hoboken, New
Jersey: John Wiley & Sons.
Burns, A.C. & Bush, R.F. (2006). Marketing Research (5th ed.). Upper Saddle River, New Jersey: Pearson-Prentice Hall.
According to Irmak, C., Block, L. G., & Fitzsimons, G. J Journal of Marketing Research, published in (2005), XLII (November)
Armstrong, Gary, and Philip Kotler. Marketing: an introduction. 11th ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2013. Print.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill Company.
Lamb, C. W., Hair, J. F., McDaniel, C. D., & Wardlow, D. L. (2009). Essentials of marketing (6th ed.). Cincinnati, Ohio: South-Western College Pub..
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
Lamb, C. W 2010, Marketing (4th ed.). Cape Town, South Africa: Oxford University Press Southern Africa.
Armstrong, G, Adam, S, Denize, S, Kotler, P, 2010, Principles of Marketing 5th Edition, Pearson Australia Group, Frenchs Forest
Armstrong G. & Kotler P. (2007) Marketing: An Introduction 8E Upper Saddle River, NJ Pearson Prentice Hall Publishers
The international business development has heightened the importance of international market selection (IMS) of companies, especially for their exporting strategy. However, not many companies really comprehend the geographical, social, economic characteristics of foreign countries in comparison with their home countries (Cavusgil, 1985). This fact has challenged many studies to create the optimal approach for IMS. The major question is: Which foreign market should a company enter? Thus, this report focuses on providing a practical consultancy to evaluate and determine its most appropriate foreign markets.
The main aim of this discussion is to discuss the main aspects that are very important in planning and implementing the activities of marketing in the global context. Once all the issues have been addressed, the organisation then needs to plan out the global marketing strategy. Marketing research is the core area of marketing, as the entire marketing strategies depends on how well the organization has conducted the research of the market. Mar...
Malhotra, N.K., 2002. Basic Marketing Research: A Decision-Making Approach. Upper Saddle River, New Jersey.: Prentice Hall.
Briefly it is a systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company, allows management to make the changes necessary for better results through adopting a proactive approach. Therefore, if a company wants to know what type of products or services would be profitable it should make a market research. Furthermore, a comprehensive research will enable the company to know about the product imperfections (if there are) and to know if it has been able to satisfy customers’ needs. It attempts to provide accurate information that reflects a true state of affairs. Due to market research the company can formulate a viable marketing plan and estimate the success of its existing plan. There are two main sources of marketing research information:
Grover, R & Vriens, M 2006, The handbook of marketing research: Uses, misuses, and future
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
International Marketing, at its simplest level, involves the firm making one or more marketing mix decisions across national boundaries (Jobber, 2010). At its most complex level, it involves the firm establishing manufacturing facilities overseas and coordinating marketing strategies across the globe (Jobber, 2010). There are various reasons for going global, some of which are: to find opportunities beyond saturated domestic markets; to seek expansion beyond small, low growth domestic markets; to meet customers’ expectations; to respond to the competitive forces for example the desire to attack an overseas competitor; to act on cost factor for example to gain economies of scale in order to achieve a balanced growth portfolio. The methods of market entry that could be used are indirect exporting (for example, using domestic –based export agents), direct exporting (for example, foreign –based distributors), licensing, joint venture and direct investment. I found this par...