International marketing research is conducted primarily to prepare a comprehensive basis for strategic and managerial decision-making and to support the international development of a company. Through comprehensive international research, risks arising from erroneous decisions should be reduced. The main task of research is to collect and categorize information, analyze and present it correctly.
However, in foreign markets, marketing research is a leap into uncharted territory.
Differences between international and domestic marketing research:
1. new conditions –related to crossing borders, especially customs, wages, transport conditions and at the same time New demands are made, such as differences in international documentation. [New environment -The marketing environment is completely different. Cultural, political, social, or linguistic differences will become apparent.
3. new factors –Entering a new market means many new factors affecting business.
4. new competition –New markets involve increased competition, making the struggle to establish a market position more difficult.
Areas where international surveys are most commonly conducted:
– International environmental surveys – This is essentially a marketing situation where economic, political, legislative, socio-cultural, demographic, or technological factors are investigated analysis.
– Competitive research – This primarily reveals the position of domestic and foreign competitors in a particular market. Competitor positioning, segmentation strategy, product policy, pricing policy, distribution policy, communication mix, etc. are investigated.
–Potential new target markets –This study is mainly relevant in terms of estimating the size of sales. Thus, it can be used to develop marketing goals, sales estimates, market share, etc.
– Effectiveness of the chosen marketing strategy –This is an analysis that focuses on the suitability of the chosen marketing mix and the resources expended to It is an assessment of whether the resources expended are being used effectively.