INTERNATIONAL MARKETING INTELLIGENCE - INTERNATIONAL BUSINESS

Notes 5 Pages

Bengaluru City University

Bachelor of Business Administration

Contributed by

Prajwal Hallale

FACULTY NAME: Mrs NALINI.N
COLLEGENAME: MES INSTITUTE OF MANAGEMENT
SUB:INTERNATIONAL BUSINESS

UNIT – IV
INTERNATIONAL MARKETING INTELLIGENCE

Information required – Source of Information – International Marketing Information
System and Marketing Research. International Marketing intelligence Definition of
'Marketing Intelligence'

Definition:
Marketing intelligence is the external data collected by a company about a specific market
which it wishes to enter, to make decisions. It is the first set of data which the company
analyses before making any investment decision.
Description: Marketing intelligence is usually the first data set analysed by a company about
a specific market. It could be related to population age in that area, infrastructure facilities,
spending habits of consumers, state or government regulations etc. Marketing intelligence is
all about gathering information on various data sets, analysing the information, breaking
down the data into small subsets and the distribution of information to the relevant
department of the company. International Marketing intelligence
Sufficient and reliable information is a pre-requisite for proper decision making, be it
domestic business or international marketing.
Viewed in a broad sense, the general subject of international marketing intelligence includes
the collection, processing, analysis and interpretation of all types of information, from all
available sources, to aid business management in making international marketing decision.
Proper business intelligence is essential to make all the series of strategic decisions in
international marketing viz., international marketing decision, market selection decision,
entry and operating decision, marketing mix decision and organization decision.
Information Requirements:
The broad areas of information requirement for international marketing are the following.
Different types of information are needed to take the critical decision as to whether to go
international or not. These include information about the prospects of the foreign markets,
competition, other characteristics o the foreign market, domestic market prospects etc.
Information on a large number of factors is needed for evaluation and selection of the
markets. There are many general factors like political and economic stability, currency
stability, government policy and regulations, etc about which information is required. Market
selection also requires specific information about the product or industry concerned like the
demand trends, government policy and regulations, competitive situation etc.
The includes consumer tastes and preference about the product like unit size/ quantity, shape,
color, product form, packaging etc; mode, time, frequencies and rates of consumption;
purpose of use/uses etc; regulatory aspects and so on.
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Price related information needed include prevailing price ranges, price trends, margins,
pricing practices, government policies and regulations, price elasticity of demand, role of
price as a strategic marketing variable etc.
For formulating the promotion strategy data on many aspects like media availability and
effectiveness, Government regulations, customs/practices of promotion in the market
concerned, competitive behaviour etc are required.
This includes information on factors like channel alternatives and characteristics, relative
effectiveness of different channels, customs and practices of the trade, power and influence of
channel members etc.
A company will also need information about the competitive environment including the
extent of competition, major competitors, relative strengths and weaknesses of competitors,
strategies and behavior of competitors etc.
There are a number of export promotion organizations in India which are important sources
of information pertaining to foreign markets. While some of these are general others are
product specific. Most of them have periodic publications which disseminate useful
information. Several of them have also brought out publications intended to provide general
guidance and education to exporters. They also carry out market potential studies and other
relevant studies.
These organizations include India Trade Promotion Organization (ITPO), State Trading
Corporations, Chambers of Commerce, Confederation of Indian Industry (CII) , FIEO, and
Export Promotion Councils/Commodity Boards / Export Development Authorities.
Organizations like the Indian Institute of Packaging, Export Inspection Council are also
important sources for certain types of information. The Exim Bank has carried out a number
of market studies. Although the Exim Bank is primarily a financial institution, it is also an
important source of guidance for exporters.
The offices of the consulates/embassies in India of foreign governments provide a lot of
information about the respective countries. Educational and research organizations like
Indian Institute of Foreign Trade, Management Schools/Departments of Universities etc,
could be useful to exporters. Valuable information can sometimes be obtained from other
exporters, export houses and trading houses, banks, ECGC etc. The international Trade
Centre, Geneva is a very important source of information and assistance to exporters,
particularly from developing countries
Offices of the Indian embassies abroad and concerned departments/organizations of the
foreign governments may be approached for certain types of information.
Several governments, like that of Japan, give a lot of importance to import development and
they are very much interested in providing the information relevant to importing to these
countries. The Japan External Trade organization (JETRO) , for example , has brought out
publications entitled Access to Japanâ€™s Import Market pertaining to every important item
of Japan. These publications give a lot of information related to the import trade of different
products.
There are also certain international organizations related to specific products. Organizations
like the World Bank also make studies and reports regarding certain products. The World
Trade Organization (WTO) is an important source for different types of information.
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In many case a lot of information can be obtained from publications like journals and
research publications “national, foreign and international. As mentioned earlier, the various
export promotion organizations have periodical and other publications. Besides these, there
are a number of general and specialized publications carrying useful information for the
exporters. Similarly there are a number of foreign and international publications, general and
product specific
Marketing intelligence and Marketing Research
1. Marketing Intelligence and Introduction to Market Research
2. Where are the untapped market opportunities for my products? How can we
differentiate households in terms of their financial behavior? How can we understand and
target consumers down to the block-group level? How can we increase customer satisfaction
by offering products customers are most likely to buy? How can we find new prospects and
turn them into profitable and loyal customers? How big is the total opportunity market?
Some unanswered questions....
3. Uses of marketing research. 1. To identify and adequately describe markets and market
segments. 2. To determine the marketing mix elements. 3. To gauge competition how it may
affect a firm’s strategy. 4. To determine customer expectations and how well they are being
satisfied.
4. What is marketing research? 1. Marketing research—the development, interpretation,
and communication of decision- oriented information to be used in all phases of the
marketing process. 2.It influences planning, implementation, and evaluation. 3. It focuses not
only on information gathering, but on analysis and implications as well.
5. Scope of marketing research activities—four sources of information. 1. Syndicated
services. 2. Marketing information systems. 3. Decision-support systems. 4. Non-recurring
proprietary research projects.
6. Characteristics of an ideal MkIS. 1. Includes real-time data. 2. Generates regular reports
and recurring studies as needed. 3. Integrates old and new data to provide updates and
identify trends.Marketing information systems (MkIS) ongoing, organized procedure to
generate, analyze, disseminate, store, and retrieve information for use in making marketing
decisions.
7. Decision support systems (DSS) a computer-based procedure allowing managers to
interact directly with data using a variety of methods to integrate, analyze, and interpret
information. Points to ponder: A. MkIS and DSS both rely on a wide variety of data. B. They
are both able to analyze data. C. Unlike a MkIS, a manager using DSS can interact directly
with data to produce customized reports. D. A DSS complements instead of replaces an MkIS
by adding speed and flexibility to the research process. E. DSS has cost as a major drawback,
which currently limits its use to large firms.
8. Data bases, data warehouses, and data mining A. Database—assembled data pertinent
to a particular topic. 1. Researchers use data bases to probe specific questions and uncover
useful relationships and developments. 2. Database analysis enables marketers to understand
the marketplace better and meet its needs more specifically. B. Data warehouse—a huge
collection of data, from a variety of internal and external sources, compiled by a firm for its
own use or for the use of its clients. C. Data mining—the use of advanced and artificial-
intelligence techniques applied to data warehouses to identify patterns and meaningful
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relationships in masses of data which would otherwise be overlooked or unrecognizable to
researchers.
9. Major data sources. 1. Internal vs. external—sales force, sales records, manufacturing,
etc. vs. research suppliers, in-house proprietary collection. 2. Continuous flow vs. occasional
or periodic suppliers. 3. Retail scanners—electronic devices at retail checkouts that read bar
codes and provide relevant information with regard to individual and combined purchases. 4.
Single-source data—data which can be traced to individual households or purchasing
10. Major research projects. A. Step one of the marketing research process: define the
objective. B. Step two: conduct a situation analysis. C. Step three: conduct an informal
investigation (Pilot). D. Step four: plan and conduct the formal investigation. a. Research
Design- Types: Exploratory, Descriptive, Casual b. Sampling Frame- probability and non
probability techniques, size , units and extent c. Data collection methods d. Instruments : For
survey as well as analysis
11. E. Step five: analyze the data and present a report—done by the researcher to identify
relationships, trends, and patterns in written and/or oral reports. F.Step six: conduct the
followup to determine if recommendations are being used, the original problem was correctly
defined, and the project itself was on target.
12. 1. Select sources of information. a. Primary data—new data gathered specifically for the
purposes at hand. b. Secondary data—data already gathered for some other purpose and
available for present use. Sources of secondary data: a. Records and reports from within the
firm. b. Libraries. c. All three levels of government. d. Trade, professional, and business
associations. e. Private research firms. f. Advertising media. g. University research programs
13. Primary data-gathering method: a. Observation method—collecting data by observing
a person’s actions or market events. b. Survey method—data gathered through face-to-face,
telephone interviews, or mail surveys. c. Experimental method—using data gathered to
determine the results of changing one variable in a situation while holding all others constant.
These include laboratory experiments, field experiments, and test marketing. Sources of
primary data. a. Firm’s sales force. b. Firm’s suppliers. c. Current or potential customers
Sources of primary data and data collection methods
14. Preparation of data collection instruments a. Carefully choose question wording. b.
Determine response format. c.Design questionnaire layout. d. Pre-test selected
forms/questionnaires
15. Source of competitive intelligence Elaborate security measure may be needed to protect
confidential information Legal and ethical problems abound.. 1.Data bases created and sold
by research firms. 2.Government reports. 3.Employees—your own (especially salespeople) or
those of competitors. 4.Observation. 5. The Internet.
International marketing information system International marketing information system is a
complex system, within the organizational structure, focused on information flow from a
company towards the environment and vice versa. ... Collecting and processing data and
information, and submission of processed information in decision-making must be timely.
What do you mean by international marketing information system? A marketing information
system (MkIS) is a management information system(MIS) designed to support marketing
decision making. Jobber (2007) defines it as a "system in which marketing data is formally
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gathered, stored, analysed and distributed to managers in accordance with their informational
needs on a regular basis."

UNIT-5 INTERNATIONAL MARKETING INTELLIGENCE
1. What is International marketing research?
2. State the advantages of market research.
3. Explain the process in market research.
4. What are the sources of market research?
5. What are the objectives of market research?
6. Discuss the techniques of marketing research.
7. What are the uses of market research?
8. Discuss the importance of market research.
9. What is International Market Research Design?
10. What is the scope of Marketing Research?

ANALYTICAL TYPE QUESTIONS SECTION-B
1. Discuss the importance of market research.
2. What is International Market Research Design?
3. What is the scope of Marketing Research?

DESCRIPTIVE TYPE QUESTIONS SECTION-C
1. What is International Marketing Research? Explain the scope of Marketing Research.
2. Explain briefly various advantages and limitations of undertaking market research.
3. What are the various methods of conducting international marketing research? Explain
them briefly.
4. Explain various sources from where marketing research data can be obtained.
5. "Marketing Research is the systematic gathering, recording and analyzing of data
about marketing problems towards the end of providing information useful in marketing
decision-making." Explain and comment.
6. What is Marketing Research? Explain the Marketing Research Process.
7. What is the significance of market research? Briefly examine the principal methods
employed for the propose?
8. "Marketing Research aims at removal of barriers for improved sales". Comment.

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