Lec 2B

Question 1

The International Marketing Research Steps?

Answer 1

1. Create Research Objectives (what info / why?) - consider the ‘types’ of information that you require and how to get it … OVER
2. Build a market research Plan (Details of what, how, when). In IM always get a professional Market Research people to do this with you.
3. Evaluate the Time needed /Bbudget required for the plan (note the mix of primary / secondary – Quantitative & Qualitative = $ Required)
4. Implement the research plan:
   • (1) ALWAYS test FIRST!
   • (2) then adjust, implement, manage
   (this is where most problems will occur, hence TEST)
5. Gather & Analyse the information… (run sensitivities scenarios
6. Prepare Recommendations (always relate these to the research objectives)

Question 2

2. How a Management Information System (MIS) Is Set Up & Managed Within an International Firm?

Answer 2

An info system used for decision making and for coordination, control, analysis and visualization of information in an organization

Question 3

Common IM problems/solutions in gathering data? (secondary)

Answer 3

Problems:
• Data Availability  What can you ‘get’?
• Data Age  How ‘old’ is ok?
• Data Accuracy  How was it gathered?
• Data Reliability  ‘Official’ statistics?
• Data Comparability  Equivalence factors?

Solutions:
Reliable Sources 
•	National & International Agencies Ex: ABS
•	Government Agencies Ex: Aus.gov.au
•	Consulting Firms
•	Commercial Databases
•	Universities (Library Database)

Question 4

Common IM problems/solutions in gathering data? (Primary)

Answer 4

Primary Data
It Doesn’t Exist – anywhere… time consuming, expensive

Problems:
• Expensive
• Time Consuming
• Sample size / Techniques – sample equivalence
• Language and Comprehension – translation equivalence
• Willingness to participate – Cultural / Privacy issues
• Respondent bias – types of questions asked
• Interaction bias – interaction ‘chemistry’

Solutions:
• Participation in Trade Missions Ex: OZ trade mission to China – government Minister with 100 OZ firms
• Visit overseas trade displays / exhibitions for free research of competitors
• Do it yourself? OR Outsource

Question 5

Common IM problems/solutions in gathering data? (Quantitative)

Answer 5

Quantitative Data:
‘Specific / Hard’ Data – age, income, occupation, education, address, etc
Involves gathering data from a large representative group

Problems:
• Narrower and sometimes more superficial data
• Results – limited – provide numerical description rather then detailed narrative
• Often carried in unnatural, artificial environments
• Development of standard questions can lead to ‘structural bias’
Solutions:
• Allow for a broader study, involving a greater number of subjects and enhancing the generalization
• Personal bias avoided
• Questionnaire  Should be tailored to specific cultural norms to avoid low response rate

Question 6

Common IM problems/solutions in gathering data? (Qualitative

Answer 6

Qualitative Data:
‘Soft’ Date – opinions, attitudes, how, why, etc

Sources:
• Interviews – Primary source of date in overseas countries
• Focus Groups – Small groups of people who have discussion around specific topics
• Observations – Watching consumers to see how they actually behave
• Delphi Studies – Obtaining the views of a number of experts who cannot meet physically

Problems:
• Highly subjective
• More difficult to assess and demonstrate
• Mining data can be time consuming

Solutions:
• Subject materials can be evaluated with greater detail
• Research frameworks are fluid – based on income or available data
• Based on human experiences and observations