Global Marketing Strategies and Research Insights

Information Technology (IT)

Processes for managing organizational information.

Management Information System (MIS)

System for analyzing and reporting market data.

Big Data

Large datasets analyzed for patterns and trends.

Intranet

Internal network for information sharing within an organization.

Electronic Data Interchange (EDI)

Computer-to-computer exchange of business documents.

Efficient Consumer Response (ECR)

Strategy to improve supply chain efficiency.

Electronic Point of Sale (EPOS)

System for processing sales transactions electronically.

Customer Relationship Management (CRM)

Tools for managing company interactions with customers.

Latent Market

Undiscovered market segment with potential.

Incipient Market

Emerging market based on trends.

Qualitative Data

Non-numerical information for understanding concepts.

Quantitative Data

Numerical data used for statistical analysis.

Primary Data

Data collected firsthand for specific research.

Secondary Data

Existing data collected for other purposes.

Market Research Process

Steps to gather and analyze market information.

Information Requirement

Identifying necessary data for decision-making.

Defining the Problem

Clarifying issues to guide research efforts.

Data Analysis

Interpreting collected data to draw conclusions.

Recommendations

Suggestions based on data analysis outcomes.

NAICS Codes

Classification system for industry sectors.

Market Potential

Estimates of demand and consumer behavior.

Competitor Information

Insights into competitors' strategies and capabilities.

Foreign Exchange

Currency values affecting international trade.

Prescriptive Information

Legal and regulatory guidelines for operations.

Resource Information

Data on availability of necessary resources.

General Conditions

Overview of sociocultural and political environments.

Survey Research

Qualitative or quantitative data collection method.

Back Translation

Technique ensuring accuracy in survey translations.

Parallel Translation

Simultaneous translation method for accuracy verification.

Consumer Panel

Longitudinal tracking of respondents' behavior.

Nielsen Media

Tracks television audience measurement (TAM).

Observation

Recording consumer behavior via trained observers.

Focus Groups

Moderated discussions with 6-10 participants.

Likert Scale

Rating scale measuring attitudes or opinions.

Bias in Scale Development

Systematic error affecting survey results.

Convenience Samples

Non-random sampling based on easy access.

Quota Samples

Sampling ensuring specific characteristics are represented.

Data Cleaning

Process of correcting or removing inaccurate data.

Factor Analysis

Statistical method reducing data to underlying factors.

Cluster Analysis

Grouping similar data points for analysis.

Multidimensional Scaling

Visualizing data in multiple dimensions for insights.

Conjoint Analysis

Evaluating consumer preferences for product features.

Comparative Analysis

Evaluating differences between two or more entities.

Market Estimation by Analogy

Estimating market potential using similar markets.

Emic Analysis

Studying culture from an insider's perspective.

Etic Analysis

Detached study of culture for cross-country comparisons.

Business Intelligence (BI)

Interactive data access for informed decision-making.

Intranet

Private network for secure information sharing.

Real Time Enterprises (RTE)

Companies leveraging big data for operations.

Electronic Data Interchange (EDI)

Systems enabling standardized data exchange.

Efficient Consumer Response (ECR)

Supply chain optimization initiative for customer benefit.

Electronic Point of Sale (EPOS)

Data from checkout scanners for sales analysis.

Customer Relationship Management (CRM)

Philosophy emphasizing two-way communication with customers.

Touchpoints

Points of contact between company and customer.

360-degree View of Customer

Comprehensive understanding of customer interactions.

Sales Force Automation (SFA)

Software automating sales and marketing tasks.

Direct Sensory Perception

Firsthand experience of consumer behavior.

Global Market Segmentation

Dividing world markets into distinct customer subsets.

Demographic Segmentation

Segmenting based on income, age, gender, etc.

Geographic Segmentation

Segmenting based on location and regional factors.

Psychographic Segmentation

Segmenting based on attitudes, values, and lifestyles.

Behavioral Segmentation

Segmenting based on user behavior and usage rates.

Benefits Sought Segmentation

Segmenting based on the benefits consumers seek.

Pluralization of Consumption

Theory stating consumers seek variety in products.

Forecasting Purposes

Using segmentation to predict market trends.

Market Potential Assessment

Evaluating market size and growth opportunities.

Lean Start-up Methodology

Framework for assessing market segments: TAM/SAM/SOM.

TAM

Total Addressable Market; overall revenue opportunity.

SAM

Serviceable Available Market; segment of TAM targeted.

SOM

Serviceable Obtainable Market; realistic sales target.

Competition Analysis

Evaluating competitors' strengths in potential markets.

Negative Factors in Feasibility

Regulatory and marketing issues affecting market entry.

Regulatory Factors

Government rules impacting market entry and operations.

Marketing Issues

Challenges in distribution and product adaptation.

Import Restrictions

Barriers to importing goods into a market.

High Tariffs

Taxes imposed on imported goods affecting pricing.

Market Need Assessment

Identifying unmet needs in the market.

Product-Market Profile

Framework for analyzing target market characteristics.

Target Market Strategy Options

Different approaches to selecting target markets.

User Status Segmentation

Classifying users as potential, regular, or competitors.

Current Market Size

Existing size of a market segment.

Growth Potential

Expected future increase in market segment size.

Management's Network

Contacts influencing market targeting decisions.

Screening Criteria

Guidelines for evaluating market segments.

Product-Market Decisions

Assess products for country market suitability.

Product-Market Grid

Matrix showing product availability by country.

Lexus I S Model

Available in all countries.

Lexus H S Model

Available only in North America.

Standardized Global Marketing

Mass marketing globally with minimal adaptation.

Target Market Strategy

Options for targeting specific market segments.

Differentiated Global Marketing

Targets multiple distinct global markets.

Concentrated Global Marketing

Focus on a single global market segment.

Niche Marketing

Targeting a specific, smaller market segment.

P&G Old Spice Example

Illustrates differentiated global marketing strategy.

Chanel and Estee Lauder

Examples of concentrated global marketing.

Cost Leadership Strategy

Offering lowest prices in the market.

Differentiation Strategy

Creating unique product attributes for competition.

Focus Strategy

Targeting a specific market niche.

Positioning

Brand placement in consumer's mind relative to competitors.

Attribute Positioning

Based on product features and benefits.