BUS 235 INTRODUCTION TO MARKETING WEEK 2
Week 2 Discussion Question 1: Market Research
Describe methods you would use toanalyze one of these three
... [Show More] different markets: consumer, industrial or international markets. What challenges would you face toensure accurate data gathering in the market and what recommendations would you make toovercome those challenges? Respond toat least two of your classmates’ postings.
The internationalmarket is one of the most difficult markets out there. Since I work in the Global sales world as we speak I know that a lot of research goes intoopening markets in other countries. We have offices all over the world and there are specific restrictions and requirements for each country. The research that has tobe done is finding out what types of products that would be most beneficial for the country tobuy and also how tomake sure that we can be profitable inthat market. But also, knowing what the countries laws and export restrictions are is very important. For example, we have a warehouse in Europe and we have some customers in other countri that cannot import our security surveillance equipment from this warehouse as their Customs department will not allow it. They are only allowed toimport goods that are shipped directl from the U.S. The challenges of gathering data from these types of markets, is that the consumer demand is changing rapidly. Technological advances and thecontinuance of new productschange what our customers want and need. “In marketing experiments, the independent variables of interest—sometimes called the marketing drivers—are often one or more of the marketing mixelements, such as a product’s features, price, or promotion,” (Kerin, Hartley, Berkowitz, Rudelius, 2011). A marketing team needs tobe designated toa certain territory in order toconstantly research what each country wants and needs and how topromote the products in the best interest of the company.
References:
Kerin, R.A., Hartley, S.W., Berkowitz, E.N., Rudelius, W. (2011). Marketing (10th ed.). New York: McGraw-Hill. ISBN: 9780073529936 [Show Less]