Homework: Global Marketing Research - Collaboration and Competition
In this Homework, you will be assessed based on the following outcome: Understand competitiveness and collaboration in a global economy.
In this Homework, you will describe how firms use marketing research to compete and collaborate in the global economy.
Marketers engaged in conducting global research must be cognizant of the many factors that can positively or adversely affect an organization, such as cultural, social, economic, competitive, technological, political, and legal environmental conditions. Building and maintaining awareness of the global market conditions requires great effort and diligence in order to minimize risk and maximize profit potential for an organization. Developing communications channels, being aware of cultural nuances, and competitive forces can impact the success of a marketing effort that is invested in the global marketing environment. As a marketing researcher, you must develop a keen awareness for the global marketing environment to protect and improve organizational interests.
Directions for Completing this Homework:
To complete this Homework, you will use the Random Scenario Generator (RSG) to select a business issue, industry, and region of the United States. (Reminder: You will be prompted to select 1 of the 3 options for each of the variables. Once you have selected from each variable category, the resulting scenario is to be the basis for your work on this Homework. Each student's scenario will be documented.)
Next, you will research for a scholarly article on research conducted on your business issue and industry relative to markets outside of the United States. You may request an article from the Purdue Global Library.
You will prepare a compare and contrast paper discussing how global market research compares to U.S. market research. Your paper must be a minimum of 750-words (3 to 4 pages, in addition to the title, reference, and appendix pages). Address the following topic areas in your paper:
1) Describe the purpose of the global marketing research described in the article.
2) Identify at least two key points of global marketing research from the article that may differ from research conducted in the United States.
3) Provide a review of the data that was collected.
4) Provide a review of the data analysis in comparison to what might be found in the United States.
5) Explain the competitive environment in relation to the marketing research.
6) Identify at least three key points which affect a competitive environment in the article.
7) Describe how economics plays a role in global marketing research as compared to only United States research.
8) Describe how social behavior plays a differing role in global marketing research.
9) Describe how culture plays a differing role in global marketing research.
10) Be sure you demonstrate critical thinking and provide facts.
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.