International market research Essay Example | Topics and Well Written Essays - 2500 words

International market research - Essay Example It is therefore paramount to understand that marketing research must be conducted by clients so that their audiences are traced much before the product/service is launched within the respective market territories, domains and zones. International marketing mix depends a great deal on how the distinctive marketing research tenets are discussed and what these factors outline is a need to amalgamate the essential present within the international marketing mix. The domestic marketing research is severely different because it aims to explore a national basis whereas the international regimes think and act within the global empire. Hence the marketing research is varied for both kinds of arenas, and there is reason enough to believe that each one of these has a calming influence on the two. This paper studies the basis of the international marketing mix decisions which require many varied kinds of marketing research that are global in nature and how the same are differentiated from the dom estic marketing research realms is something that shall be given significance here, with global examples. It is a fact that the marketing research which is measured within an international context is comparatively different from the one which is taken in within a domestic environment. The reason for the same is that there are many stakeholders when one considers the two cases. These include the businesses, the industrial giants, the stock exchanges, and so on. When data gets collected within an international marketing research regime, the focus is on collecting a sample of people who hail from a number of different nations and not just a singular country. However this is not the case when one thinks of the domestic regimes where the focus is on a particular country. One such example is of the marketing research that was done for Kellogg’s when it diversified into a new product line for the US markets. This was a domestic marketing research example and hence emphasis was put w ithin the local terrains. However when the marketing research was conducted for LG as a brand, the scope was global and hence a number of different countries were taken into consideration. Since LG is a global brand of repute and dignity, proper care was taken into count that many samples were explored and then analyzed upon in detail. The sample size was chosen to make sure that there was no missing link present with it. The marketing research was therefore very comprehensive and the samples were chosen with attention to detail. Hence the marketing research differences between Kellogg’s and LG are quite apparent here as the samples were chosen in light of the markets that were to be covered by the respective brands. If Kellogg’s wanted to move out and touch bases within other nations of the world, its audience would have been different and hence the scope would have broadened up as well. The approach used by Kellogg’s and LG are similar yet the scope for the tw o brands has been different. This is the reason why marketing research has been seen as international in one case and domestic in the other. Moving on, the most basic difference between international marketing research and domestic marketing research is that the former concentrates on the world’s different audiences while the latter is dependent on a single nation or entity so to speak. What this means is the fact that international mar