What is International Marketing Research?

International marketing research involves studying and analyzing markets outside a company’s domestic boundaries to make informed decisions for global business expansion. International marketing research requires a deep understanding of diverse cultures, as consumer behavior, preferences, and market dynamics can vary significantly across countries. International marketing research helps in identifying viable entry strategies for international markets. This involves assessing the regulatory environment, and competition, and understanding the economic landscape.

Geeky Takeaways:

• The procedures, methods, tools, and techniques of conducting marketing research are conceptually the same for both domestic marketing and international marketing.
• The scope, coverage, cost, and intricacies of international marketing make it a highly specialized, complex, and complicated activity.
• The international marketing researcher must develop the ability for imaginative and smart application of tried and tested techniques in sometimes totally new settings.

According to B.S. Rathore, B.M, Jani and J.S. Rathore, “International marketing research is the systematic gathering, recording, analysis and interpretation of data on international marketing problems. It consists of specific studies required to develop, implement and evaluate export marketing strategies. Answers are sought to such questions as:

(i) What is the potential market for a product overseas?

(ii) Who are the present and potential customers across the boundaries of a nation?

(iii) How can the international marketer best appeal to this market?

(iv) How successful is the international marketing programme?; and

(v) What are the weak areas in the international marketing programmes?”