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Discussion questions - International marketing - Essay Example

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Project Name Prof. Date Question 1: Describe some of the analytical techniques used by global marketers. When is it appropriate to use each technique?  Some of the important analytical techniques used by global marketers are factor analysis, cluster analysis, multidimensional scaling, conjoint analysis and comparative analysis…
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Discussion questions - International marketing

Download file to see previous pages... Factor analysis can be suitably used in a situation when the data to be analyzed is quiet large (Lehmann, Gupta & Steckel, 1997). Cluster analysis fits for analyzing inherently grouped data (Lehmann, Gupta & Steckel, 1997) and helpful in dealing raw data into clusters. This type of analysis helps determine similarities and variations between local and regional markets. Another type of analysis is Multidimensional scaling. It uses statistical technique in for graphic or 3D visualizing information and data. It also allows sifting of similar and dissimilar patterns in a data (Grover & Vriens, 2006). This technique is utilized when a marketer is required to select between varied alternatives. Conjoint analysis on the other hand, helps the international market researchers understand how consumers’ value varied attributes or features associated with a product or a service (Grover & Vriens, 2006). This helps marketers come out with combined optimized information technology (IT) attributes preferred or acceptable by customers (Lehmann, Gupta & Steckel, 1997). Comparative Analysis help marketer solve problems associated with two markets, products, services or processes that are almost same or comparable to a great extent (Lehmann, Gupta & Steckel, 1997). ...
e methods (regression, correlation, cross tabulations), and multivariate methods (including multiple regression, cluster analysis, multiple factor indices and multidimensional scaling) (Moyer, 1968). Other marketers also use analytical techniques of industrial growth pattern; income elasticity measurements; regional lead-lag analysis; and analogy (Moyer, 1968). Industrial growth patterns help gather information relating to market demands using statistical computation which can be sourced from in-country sources. Income elasticity measurement, on the other hand, describes the relations between demand for goods and changes in income (Moyer, 1968). To cite an example, the demand for basic agricultural products decline if income rises. Regional lead-lag analysis on the other hand predicts the pattern of demand in a considered country is similar to leading country. For instance, if Philippines will have new method of drying abaca; it is likely the other abacca producing neighboring countries will follow this system(Moyer, 1968). Analogy, a process of analyzing information, could also be used in estimating market demand. This can be done either by cross sectional comparison or by time series analysis(Moyer, 1968). Cross sectional analysis assumes that a factor which correlates with demand in country A could be translated to country B. Time analysis use time dimension to estimate the international life cycle (Moyer, 1968).. While analysis is relevant, it has also its inherent limitations. 2- What is meant by the phrase global strategic partnership? In what ways does this form of market entry strategy differ from more traditional forms such as joint ventures?  Global Strategic Partnership (GSP) refers to broad-based cooperation and linkages between varied companies aimed at ...Download file to see next pagesRead More
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