Open AccessThe role of international marketing research today
Author(s) -
Nataliia Mashoshyna,
Viacheslav Purikhov,
Vlasta Shvahireva
Publication year - 2020
Publication title -
ekonomìka, fìnansi, pravo/ekonomìka. fìnansi. pravo
Language(s) - English
Resource type - Journals
eISSN - 2786-5517
pISSN - 2409-1944
DOI - 10.37634/efp.2020.12(2).3
Subject(s) - competitor analysis , marketing , marketing research , business , market research , commodity , work (physics) , production (economics) , international marketing , marketing strategy , domestic market , economics , international trade , finance , engineering , mechanical engineering , macroeconomics
The main purpose of international marketing research is to identify the current needs of consumers in foreign markets to set the direction of enterprise development to meet them, thus bypassing competitors. Market research is only an integral part of this process. Although, the most important part of it. This is due to the need to take into account primarily the requirements of the market, which can create the conditions for eliminating existing shortcomings in foreign economic activity and have a positive impact on the prospects of companies. International marketing is an independent branch of the enterprise when entering foreign markets and includes a set of measures to organize the production and sale of products, services focused on meeting the needs of specific foreign consumers based on research and forecasting of international markets.The purpose of this work is to provide a definition of international marketing research, justify their importance in the present and consider the main problems that may arise along the way.International market research may cover the world commodity market, the market of countries and industries, domestic and foreign markets or their specific segment. In addition to market research, sales research has the highest frequency.There may be some difficulties in conducting marketing research abroad. For example, surveys of business people in Taiwan become possible only when using at least four languages. These circumstances create not only high costs for this type of research, but also not always, due to numerous translations from one language to another achieve the goal, as they may be accompanied by loss or distortion of information.International marketing research generates data in order to perform: sales forecasting, identify loyal and satisfied customers, identify the optimal price range for the company's products.Such analysis is a process of collecting and studying the information needed to make effective decisions in business management, including international.