Global Market

Global Market

Introduction

Global marketing strategy is commonly adopted by many multinational companies for the purpose of selling goods and services in the global market. Global marketing requires that there should be harmony between the marketing policies in various countries all around the world. According to global marketing the marketing mix of different countries can be incorporated to the local market. In short, global marketing is defined as the international expansion through processes of licensing, franchises and joint ventures. Global marketing can either be domestic or international, depending on the needs of the company.

Discussion

It is very essential and critical for the host country to take global marketing decisions since there are many complexities in the global market place. Many inadequate cultural blunders in global marketing are due to insufficient and inappropriate marketing research.

Research design

Research designs are referred to as blue [print for many researches. The global marketing research designs deals with four major issues that many business organization face which include which question should we study, which data is more precise and relevant and what kind of data should be collected. Finally it also deals with how to analyze the various data. Every research design which is adopted by countries and business entities has negative and positive sides (Hollensen, 2011)

Descriptive marketing research

The descriptive research design is used by many companies and it enables them to get accurate and precise description for various events which are occurring in the global market. For instance, it helps to provide information what age group is buying which kinds of brand. It also helps in determining what product have what percentage of the market share within a certain industry and how many competitors are there for a particular product or service. The descriptive market research is one of the most popular research designs it is mainly used when the main objective behind the research is to explain, monitor and test the hypothesis. It can also be utilized for various predictions. Many marketers adopt the descriptive research design through many informal means. For example, the marketing head of a clothing brand may contact the retail to know how the products are being sold (Kotabe, 2004)

Exploratory Market Research

The other research design is the exploratory research design which helps business organization to gain general information about a certain topic. For example, the marketing department has heard news about any latest technology which is helping its competitors to gain competitive advantage but the marketing head is not familiar with the technology so they conduct an exploratory research in order to learn about the current technology. Exploratory research is sued when business organization has to gain knowledge regarding an important issue. The only drawback of exploratory research design is that it is not as useful in making an appropriate marketing decision (Hollensen, 2011)

Causal Market Research

The final research design is casual market research which helps to determine how one variable affects the other variable. The two variables are called manipulation and independent variable respectively. In short, in the casual market research design the ...