Market Research In International Markets In The 21st Century
As businesses expand further and further in international markets
, the role of timely and accurate marketing research to guide decision-making becomes increasingly critical. Research to support international marketing decisions has evolved over the past four decades and must change even more to support firms in the 21st century.
The dramatic changes in the global environment coupled with technological advances in data collection, analysis and dissemination imply that researchers will need to broaden their capabilities in order to design, implement and interpret research in the 21st century. As research efforts are aligned to match markets with the highest market potential, researchers will need to develop the capabilities and skills to conduct and design research in these environments
Change is occurring in virtually all aspects of business and personal life. These changes are being played out at different rates in different parts of the world. Against this backdrop, marketing researchers are being challenged to conduct research that is of the highest possible quality, as quickly as possible, in multiple diverse settings. The issues marketing researchers face are multifaceted and relate to where and how research will be conducted, who the respondents will be, and the tools and techniques that will be used.
Marketing researchers must find creative ways to harness the new technologies to facilitate the conduct of research and enhance its value to clients. At the same time research organizations must begin to develop the capability to conduct marketing research simultaneously in the developed and the developing world. Increasingly multi-national marketers are designing and selling global brands and need research to guide their decision making across an increasingly diverse and disparate world. Sound and timely marketing research becomes even more critical for firms as they compete in the 21st century.