The paper "Overcoming the Barriers to Effective International Marketing Research" is a perfect example of a marketing literature review. Firms usually face hurdles when entering new markets. However, due to rapid change in global business businesses must find new strategies on to deal with these barriers in advanced in order to improve their chances of performing well in the new markets. Companies require collecting information concerning customer’ s tastes and preferences before making an entry into an international market (Carl & Roger 1998, p. 61). So long as the information is gathered, they have to evaluate it and develop new strategies to outdo their rivals in that market.
Nevertheless, a challenge comes in when entering emerging markets due to various barriers associated with market research (Crick 2007, p. 236). This essay describes research barriers such as the availability and reliability of research resources and suppliers, Cultural differences and Social and market structure differences among others. The essay will also focus on how to overcome these barriers. The risks associated with these factors could undercut the effectiveness of the business in the new market. Availability and reliability of research resources and suppliers International marketing research is described as the market research carried out either concurrently so as to make potential marketing decisions in many countries (Czinkota & Ronkainen 2002).
Globalization results to most companies looking at the entire world as a domestic market. However, running the businesses across the world in a similar manner is not essay because every emerging market has a different market structure. Therefore, companies must look at the market structure before they can launch products or services in these countries. International marketing Research enables marketing managers to study different market attributes for easy progress of marketing decisions to be implemented across countries.
Ghauri (2004, p. 110) contends that in the past when businesses were focused in small geographic location and when companies used to directly contact with the clients, information concerning customers and their knowledge and behavior of the rivals was not hard to obtain (Czinkota & Ronkainen 2002). The organizations could directly sense the customer’ s pulse and respond to it. The market places were not very complex and the market size was controllable by a personal producer.
The globalization has transformed the manner in which business is carried out. The business atmosphere has turned out to be more complex and dynamic, therefore making it hard for marketing managers to get the essential information (Harris & Li 2005). Emerging markets are obviously fast-growing places for international market research. Marketing managers also need more common, holistic and in-depth research with regard to immaturity yet the fast growth of numerous product categories that attracts players so as to make an entry (Dalton & Chrobot-Mason, 2007, p. 170). Ghauri (2004, p. 123) argues that the availability and reliability of research resources and suppliers is, however, a challenge due to the dynamic nature of the emerging markets.
Unavailability and unreliability of either to the firm of the country in which research is a concern in several emerging markets. In such a situation a company may not acquire full information on how to conduct business in that market, therefore even transparency becomes a contentious issue (Ghauri 2004, p. 115). In this form of market corporate and financial disclosures continues to be sparse.
Emerging markets’ success needs dedication to timely and accurate data. Research carried out by the Global Intelligence Alliance indicates that most of the global organizations have not built an efficient intelligence process that can narrow the gap between the marketing manager’ s demands for and the accessibility of market intelligence in emerging markets (Alvin & Ronald 2010, p. 87).
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