overseas marketing research
Definition:
The systematic gathering, recording and analysing of data to help reduce uncertainty and aid decision-making in overseas markets. The tools and techniques, although perhaps receiving different emphasis, are the same as those used at home but the environment overseas is likely to be more difficult and uncertain with greater cultural, economic, technological and political constraints. Consequently the problems encountered in domestic marketing research are likely to be exacerbated in overseas marketing research. For example the case of mechanically implementing marketing research is likely to be less as well as varying from country to country. The information required may well need different emphasis. The scope of overseas marketing research is also likely to be broader. General information about the country area and/or market, like size of market, price and cost structure in the market, sources of competition, distribution systems, etc. in order to assess market opportunities will be required. More attention may need to be given to forecasting future market requirements than in domestic marketing where such factors are better known and understood. At the same time the specific information to solve marketing mix problems, on which marketing research tends to concentrate in the domestic market, will also be necessary for overseas markets. Overseas marketing research tends to be more expensive and often the quality is lower especially in DEVELOPING COUNTRIES where market research agencies are fewer and less sophisticated than in DEVELOPED COUNTRIES.
Cross-References:
[market research]
[developed countries]
[developing countries]
[international marketing]
Links:
Figures:
© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Joanna Kinsey and Michael J. Baker], [1998].