International Marketing Research Strategy MKTG2007

Assessment Number and Title Assessment 2a Group work: Case Study: International Marketing Research Strategy

Assessment Type Develop a report on international marketing research strategy based on a specific case study scenario

Length / Duration 2500 words

Assessment 2a Context and questions

The purpose of this assessment is to develop a report on international marketing research strategy based on a specific case study scenario provided to you on Moodle by Week 3. Based on the case study scenario, develop an international marketing research strategy considering the systematic international marketing research process introduced in this subject. The research process should detail the necessary market research stages required for an international marketer to identify the market attractiveness of the selected country discussed in the case scenario.

Case scenario:

Challenges of International Marketing for Australian Businesses

Expanding into international markets presents Australian businesses with significant opportunities for growth and revenue but also comes with a set of unique challenges. One primary challenge is understanding and adapting to diverse cultural preferences and consumer behaviours. Unlike marketing domestically, international markets require businesses to cater to a range of tastes, traditions, and purchasing habits that can vary significantly from one region to another. For example, a marketing strategy that works effectively in the Asia-Pacific region might not resonate with consumers in Europe or North America due to differences in values, language, and lifestyle.

Another challenge is navigating varying regulatory environments. Each country has its own set of trade laws, advertising standards, and import/export restrictions. Australian companies often need to invest in legal expertise to ensure compliance and avoid penalties. Additionally, currency fluctuations pose a financial challenge, affecting profit margins and pricing strategies. For instance, a strong Australian dollar might make products more expensive and less competitive in the global market.

Supply chain management is also more complex in international marketing. Ensuring reliable logistics and dealing with international shipping constraints, customs delays, and local distribution networks can strain resources. The COVID-19 pandemic further highlighted these vulnerabilities, as disruptions in global supply chains caused delays and increased operational costs for many businesses.

Moreover, competition is fierce in international markets. Australian companies often find themselves up against local businesses with a better understanding of their home market, as well as global giants with substantial resources. This requires Australian firms to be highly strategic and innovative in differentiating

their products and services.

To successfully navigate these challenges, Australian businesses must invest in thorough market research, establish strong local partnerships, and develop flexible marketing strategies that can be tailored to specific international markets. Leveraging digital marketing and data analytics can also provide insights that help bridge cultural and consumer gaps, ensuring campaigns are relevant and effective.

Required:

Based on the above case scenario your report should include the answers, not least, of the following two questions: (i) What steps can an Australian company take to adjust its strategy if a marketing campaign fails in Europe? (ii) How can an Australian business manage currency fluctuation risks when entering new markets? (500 words)

Furthermore, your demonstration should include the following additional aspects:

• Breadth and scope of international marketing research (300 words)

Explain in detail why international marketing research is generally broader in scope than domestic marketing research.

• Define the problem and establishing research objectives (400 words)

Discuss the major difficulty in (a) defining the problem and establishing research objectives, and (b) translating a business problem into a research problem with a set of specific research objectives.

• Gathering primary dataquantitative and qualitative research (300 words)

Discuss the problems facing the foreign market researcher in gathering primary data; compare the benefits and disadvantages of collecting qualitative and quantitative primary data.

• Language and comprehension difficulties in gathering primary data in the international market (400 words)

Discuss the following issues and importance for international market researcher.

• Parallel translation
• decentering
• Back translation

• Sampling in field surveys (300 words)

Outline the sampling process for the international market given in the case scenario. Critically discuss the difficulties encountered in the process of taking samples and conducting field surveys in the international market given in the case scenario.

• Responsibility for conducting marketing research (300 words)

Explore and discuss the ethical issues that must be dealt with when conducting international market research.

The key sections to be included should be written in accordance with the guidelines for report writing.

Importantly:

• Base your report on relevant international marketing theories from the textbooks and journals.
• Give references (both in-text and reference list) from academic journals supporting your argument.

Useful links for research: Journal of International Marketing https://www.jstor.org/journal/jintermarket Journal of Global Marketing https://www.tandfonline.com/journals/wglo20 Asia-Pacific Economic Cooperation (APEC) http://www.apec.org/ Australian Department of Foreign Affairs and Trade http://www.dfat.gov.au Australian Trade Commission http://www.austrade.gov.au/ Global Trade Negotiations http://www.globalization101.org http://www.cid.harvard.edu/cidtrade/ Globalization101.org

• International Business centre http://www.vecci.org.au/VECCI_Global/International