MSc International Marketing Management - Essay Example

ise has two--and only these two--basic functions: marketing and innovation." Chadwick (1998) predicted that marketing research would evolve from the role of merely providing ‘market and opinion research’ to a more vital function of furnishing a company’s tactical data, consultation, and communication with clients. Marketing research is a superior management technique that collects and analyses customer requirements and desires within the marketplace in an effort to ascertain how to satisfy them.

Higgins (2008) defines marketing research as, “all techniques used to provide information that assists the firm in all of its decision-making processes relevant to customers or clients” (Higgins 4). Marketing research is one of the main branches of marketing which the American Marketing Association (2007) describes it as, "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."(AMA 1). AMA characterizes marketing research as ‘the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services.

’ Kumar (2000), classifies international market research as “market research conducted either simultaneously or sequentially to facilitate marketing decisions in more than one country” (Kumar, 2000 p2). An exceptional export market research therefore involves collecting appropriate market information that enhances the export decisions to be undertaken. This includes unearthing the economic, socio-political and cultural factors that either encourage or hinder market penetration in the foreign market.

Comprehensive market research assist the corporation correctly decide on, the fragmentation, zero in or position their merchandise in a foreign market appropriately. Market research consequently embraces the creation of goals, collecting information, analyzing and disseminating the