Exploratory Research Paper

There was once a world relatively divided in trade. Boundaries were not drawn by trade agreements and embargoes. Boundaries were drawn simply by the impossibility of one group of people to travel to the opposite side of the world to conduct business. Advancements in technology, communication, and transportation have allowed businesses to conduct business all around the world. In result, these advancements have created the developing field of international business. The field of international business is new in consideration of traditional disciplines, like medicine or literature. This field studies the relations of multinational companies and their role in the global economy. Generally, international business trade was inspired by the need

Conducting marketing research in the workplace of an international business is important in improving key marketing decisions. Unlike the vagueness of general business research, marketing research has a formal set of guidelines to follow in order to gather data and analyze it. This method is essentially a problem solving method, where the solution is found using data collection and analysis. There are three distinct methods of generating marketing research: exploratory, descriptive, and casual research (Smith 2012). Exploratory research is used when trying to define and solve a major international marketing issue. Exploratory research is used to come to a solution to a marketing problem by studying different options and clarifying major marketing concepts. Descriptive research defines questions and forms a method of analysis prior to data collection (Smith 2012). Casual research is as simple as its name. With casual research, people are looking to find a cause and effect relationship between two variables in a less structured way. The three of these are very general marketing research strategies, but in order to apply them to international business, they must be focused on globally and internationally versus locally. Finding marketing strategies that encompass more than one culture and demographic is essential to the success of any international company. The ability to sell and distribute goods to a large amount of people of many different backgrounds is a quality that is unique to the field of international