International Marketing
Often, our marketing research tells us how, where, when, and at what price we can sell our product(s) or services. It provides us clues to help decide whether to sell our standard products or adapt them to new markets.
However, our market data may also give us information that is worrisome, such as that our standard products will not be accepted in the marketplace, our standard products must be adapted to fit the current market, or a new location, or that we must look to locate a new market entirely.
Review the video, Blake, N. (Speaker). (2010). LSBF global MBA - Lecture in marketing research [Video file][09 min 37 sec].
•Describe at least one method or strategy for researching the global marketplace and explain the need and difficulty of obtaining accurate and useable information.
•In the case of Wii, the company differentiated their product based on research. They determined that they could not survive against global competitors marketing to the traditional target audience. Describe how their market research changed their product and created an entirely new market.