* Cross-cultural marketing research
* Marketing research examines among other things:
* The attractiveness of the Market; also known as Market Potential
* Consumer’s receptiveness to our product
* Carefully examines and analysis competitive advantages
* The marketing research should pursuit every single objective of the brand.
* In cross-cultural marketing research, two dimensions need to be carefully analyzed:
* Number of possible users of the product.
* Maximum expected purchase rate.
* Market potential is the amount of a product that the market could absorb over some undefined period under optimum conditions of market development.
* Optimum conditions are hard to find; the market is always changing, therefore there are no possibilities to analyze economies markets under perfect conditions.
* Market potential can’t be exactly known; that’s why we try to forecast it.
* Marketing research is the systematic and objective collection, organization, and analysis of relevant information and facts in order to facilitate the entire managerial decision-making process.
* It has to be done every once in a while to observe the market place.
* It is important to organize and analyze the data obtained in the research in order to provide useful information and suggestions that could help when making a decision; if we don’t organize those findings, the marketing research can be considered a waste of resources, since it has no value at all.
* It can be made by agencies who conduct marketing research, as well as by in-house departments inside the organization.
* We as managers need to interpret and analyze the findings and recommendations in order to make the final decisions.
* Difference between regular marketing research and cross-cultural marketing research
* Cross-cultural marketing research helps...