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Explain the significance of international marketing research in today’s globalized market.

Explain the significance of international marketing research in today’s globalized market.

Owlgen
Course: M.Com

1 Answer

International Marketing research is the systematic and objective search for the analysis of information relevant to the identification and solution of any problem in the field of international marketing: The basic utility of marketing research is that it helps the company to identify the problem areas and environmental opportunities and helps to monitor the environment, International marketing research plays a very important role in shaping marketing strategies of the international firm. The major significance of international marketing research are as under

  • It implements the international marketing concept.
  • It synchronize the production and consumption.
  • It brings to the notice of the advertising manager the need for changing the form of existing appeal on the need for appealing to new class of customers.
  • It provides insurance cover for the survival and growth of the business in a dynamic economy.
  • It is a tool for evaluating the marketing plans, policies, programs and procedures and in reducing and minimizing all’ marketing costs.
  • It enables the marketers to make goods acceptable and saleable and to see that they reach the market easily, cheaply, and profitably without sacrificing consumer interest.

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May 23, 2019
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