international market research task

How to conduct international market research: 4 methods for global insights

These international market research methods help your business go global by reaching the audiences who will love your product in multiple target countries.

Why conduct international market research?

Primary vs secondary international market research, what to consider before starting the global market research process, faqs about market research in foreign markets.

Are you planning on taking the world by storm with your new brand, product or service? Do some international market research first, to make sure you understand the nuances of different global markets, and create a comprehensive picture of your new target market.

You could use international market research to get a clear picture of the risks and business opportunities that lie ahead in countries you plan to export or expand to. It can include competitive analysis, research into how to resonate with consumers in different countries, as well as drilling down into legal, cultural, political and logistical aspects.

There can be huge differences between each different foreign marketplace that you might not have thought of or realized as an outsider looking in. For any international business, it’s important that you get quality primary data in all the countries you operate in, to make sure you’re not tone-deaf, and are able to optimize your products, processes, and promotion for each specific market.

Here’s a fantastic example of how international market research pays off.

We’ve seen first-hand how companies like Klarna have benefited from doing thorough research and copy testing before expanding to new markets. Their qualitative research in Belgium uncovered a crucial piece of information: Belgian consumers didn’t like the name of the product they intended to launch there.

Klarna turned to Attest to do a quantitative study, and created a survey to test different product names and to see what would convert best. In the end, a suitable name popped up out of the data and Klarna went ahead with a successful launch,

That’s just one way international market research can benefit your business. But of course, there’s more, so keep on reading.

Minimize risks when entering overseas markets

As with any type of market research, one of the main objectives is minimizing risk.

You wouldn’t walk into a porcelain shop wearing a blindfold; you’d study the room, and move accordingly.

Use market research to minimize the risk of entering a market that is already saturated, or where there’s no demand, or where you wouldn’t make a profit at the price point you’re offering… The world is your oyster.

Get to know customers across different cultures

The world is getting more and more connected. There’s a surge of ‘digital nomads’ and people who say they are ‘citizens of the world’ when you ask them where they’re from. But, there are still plenty of cultural differences you should be aware of when it comes to selling products or services.

Studying consumer behavior in foreign markets is crucial for international market research. You could wonder about questions like:

Who shops online more, Italians or Germans? And what does this mean for our localized online stores?
Do car buyers in the US conduct their research differently than UK car buyers?
Is getting your groceries delivered as big a thing in Spain as it is in Norway?

Don’t just assume there’ll be enough overlap between countries. You could be surprised by the difference in results. For instance, a passionate Italian grandmother might approach buying pasta very differently from a student in Budapest—so adjust your pricing, global market research , international marketing , distribution channels and more accordingly.

Identify business opportunities and market potential

Which countries still don’t have a product as awesome as yours? In which target markets are people currently buying large quantities of the product you’re selling—so much that the current producers can’t keep up? What emerging markets should you enter right now?

International market research helps you spot new business opportunities. You find out how large potential markets are, who your competitors are and how you could steal market share from them.

Don’t just look forward: look back too to see how the market has developed. What market trends have passed, and how did people react to them? What are the usual growth rates for businesses like yours?

Identifying the fastest growing markets and familiarizing yourself with the players in those will help you figure out your own competitive advantages, so you can enter new markets with confidence, being able to lead—not just follow.

Not sure where to start? Say hello to our market analysis template ! With this we offer you a clear idea of the type of questions you can ask. Use it as a starting point and tailor it to your needs to really get to know your market.

Start with Attest for free

Get inspired with our market analysis survey template. And launch your first survey for free!

Optimize spending and margins

It’s very likely that you have to tweak your usual strategies a little, depending on the market. In other countries there will be different distribution channels, production options and costs for selling. Getting insight into this before entering is crucial.

Look into which channels are available and gather information on suppliers, manufacturers and other partners you need. Having this info ready before launch will mean you can fuel your export plan with valuable strategic insights, ensuring you maximize your profit, and can deliver your products on time.

Make sure you’re compliant

We can’t stress enough how important it is that you get all the legal insights ready before entering a new market. Every country has different rules and standards, and not being compliant could be an expensive mistake.

Find out what the required certifications and standards are, and what tests your products have to endure. Check if products or packaging need to be altered for specific markets with specific rules.

Your international market research should be a mix of primary and secondary data, mixed to compliment each other to give you a thorough understanding of a new market.

Each research method comes with its own benefits, but combining the two gives you the best of both worlds.

Secondary market research

Secondary market research is great to lay the groundwork in the market research process: you can use data and quantitative research that you can find online to get a good understanding of the market. Think market data and trade data, and specific trade statistics for a country or a product.

The benefit of using secondary market research for this part is that it’s relatively quick, and cost-efficient. However, it can only be used for part of your research objectives, because the information is generic, not specified to your product and might not be up-to-date.

Primary market research

In comes primary market research. This is often done using online surveys, or by talking to experts in the foreign market you’re looking into. This is great to study your target customers from up close, or learn about the current market conditions from local experts. You can also use primary research to talk to local suppliers, for more successful export planning.

Every form of market research should be done with care—international or not. After all, you’re going to be basing important business decisions on the outcomes of your research, so best be careful, right? Right. Here are some extra words of advice, to not let your adventure abroad be an expensive waste of time.

Markets change: bear in mind that if you do international market research just once, you’ll online have a static picture of what the market was once like. Markets are dynamic, and international markets react to each other—so make sure you keep an eye on relevant trends and market conditions, and follow up on your research regularly.
Inside information is best: when it comes to international market research, make sure you speak to the right people. A survey group that looks exactly like your target market, but ‘just’ has different nationalities, is likely not a good representation of who you are trying to research.
Be willing to act on the results, not just analyze them: allow the data you’ve collected to influence your decision-making process. This will help you create more defined objectives for your research, and make your approach to the research a lot more practical. It can help to make important stakeholders part of the research process.

How to conduct international market research: 4 strategies

1. talk to local experts in potential markets.

Sometimes you can have a long hard look at the data, but still not get a good feeling of what is actually happening inside a market. In those cases, it can be incredibly helpful to talk to local experts to add some qualitative flavor to your research dish. These can be suppliers, manufacturers, economic experts, business journalists or anyone else who can make the data you see come to life.

2. Dive into secondary data from governments

While we don’t recommend using only secondary research as a source for your market intelligence, it sometimes simply is the only option, especially if your budget is limited. In that case, make sure you pick the right sources.

We recommend you start with government trade data and economic statistics, which are usually up-to-date and the most accurate. Be wary of sources from websites that could have tainted the stats for financial gain, or for PR or SEO purposes.

3. Talk to consumers using online surveys

How can you possibly talk to all those potential buyers in your target markets, let alone track your brand , without booking expensive plane tickets there? We’ll let you in on a secret: use Attest.

If you’re sending online surveys, you want to have the peace of mind that it is being completed by people who are in your target group. We’ve made sure of that, by giving you access to an audience of 125 million people in 59 countries. Using Attest, you can very specifically segment your audience for hyper relevant results.

4. Use focus groups for more data

If you want to test some ideas or supplement your primary research insights with more qualitative market research data, focus groups can be a great way to move forward. Make sure that before flying out there you make sure you’re talking to relevant people who fit your target group description to a T.

Access more consumers with overseas market research

Set yourself up for success, wherever you choose to go. If your business is ready to expand overseas and is crossing borders, make the most out of our international market research platform . And if you’re in the States, here’s how the top market research companies in the US stack up.

Uncover your global market insights

Reach 125m consumers in 58 countries with Attest. It’s the best of both worlds in market research: cutting-edge tech meets human expertise

Start with setting a goal and defining what you want to know. Then create a research plan including your research methods. Choose the right research tools (like Attest’s market analysis software ) for that, and then start conducting the research. Analyze all the data and pin it together. Finally, present the data and take action based on your new insights.

In international market research, we recommend you dig into your competitors, the market size and market trends over time. Analyze cultural differences, be aware of legal and political factors and make sure you get to know your suppliers and distribution channels.

You don’t just minimize risk, you also learn how to maximize your success. You learn how to adapt your marketing to fit local markets, position your company’s product successfully and operate at the most beneficial prices.

Customer Research Lead

Nick joined Attest in 2021, with more than 10 years' experience in market research and consumer insights on both agency and brand sides. As part of the Customer Research Team team, Nick takes a hands-on role supporting customers uncover insights and opportunities for growth.

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How To Conduct International Market Research: 6 Key Steps To Follow

Whats Inside?

The 6 steps you should take to conduct proper international market research, do your expansion homework and set your business up for success.

Expanding your business on a global scale requires conducting extensive market research and adjusting your entire brand and content to become more approachable to each local audience. Managers who have their minds set on entering new markets know that failing at either of these steps can threaten their business’ success.

Statistics show that the global market research services market has grown from $76.42 billion in 2021 to $81.69 billion in 2022 . This 6.9% CAGR speaks volumes about the importance of international market research these days. In fact, all of the different obstacles companies face when entering a new market and conducting successful localization can become really challenging if the team responsible for the research is not on top of their game.

If you fail to carry out rigorous international market research beforehand, you risk being unprepared for the already challenging localization process. This informative article will take a closer look at some of the most influential international market research methods and tips on handling the process like a pro.

Like any other type of market research, your should do international market research in smaller, more easily manageable steps. Here’s a quick, high-level overview of them:

Determine your target audience

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As you may already know, the initial step in any comprehensive market research strategy is to determine the target audience. Knowing the target audience will help you narrow down your research efforts and ensure that you’re obtaining data and information that’s actually relevant to your business’ needs.

For instance, if you’re willing to expand on the French market, an example of an audience you might target would be “French lower middle-class men ages 35-50.”

Identify your market research goals

Next, you should identify a problem, issue, or business opportunity you want to understand better about your target audience. For instance: “With this research, our company wants to understand what hair care products French lower middle-class men ages 35-50 prefer when shopping at their nearest supermarket. This way, we can know better if our product stands a chance in the highly-competitive French hair care market.”

Choose your research techniques and methods

Once you set your target audience and market research goals, you’ll need to choose the techniques and methods that will help you obtain the data you need. When working on research, there are numerous different techniques and methods you may utilize, both qualitative and quantitative.

For the case above, to find out more about the hair care products French men buy and consume, you can conduct a market survey . Through the survey, you can ask men that fall under your target audience about what they do when it comes to taking care of their hair.

Establish your research plan

Once you know the techniques and methods you’ll utilize in your research, you can start establishing and developing your research plan in greater detail. This should include a comprehensive description of how you’ll execute your international market research, including setting a budget and timelines for particular activities and noting any challenges or risks you anticipate. For instance, if you plan on conducting surveys in France, you’ll definitely need to consider challenges such as cultural differences and language barriers. Also, focus on technology in market research .

Collect and analyze the data from the research

Right after you’ve carried out your research plan, you should start collecting and analyzing the data from the research. Many times, this could be a long and complicated process, depending on the techniques you’ve utilized and the type of data you’ve obtained. For example, if you carried out a comprehensive survey, you might want to rely on statistical software to analyze the final results of the survey.

Present your findings

Last but not least, after you’ve collected and analyzed your data, you will need to present your findings in a way that’s easy for other individuals to understand. For example, if there are stakeholders in your company, they can use these findings to make well-informed decisions about things like marketing, product development, and even the big-picture expansion plan.

How you’ll present your findings will depend on the type of data you’ve gathered and the goals of your research. For the example from above, you can create a presentation or create a report that includes graphs and charts regarding male hair care products in the French market.

In the end, remember that these steps are just a high-level overview of international market research. Each market research project is unique, so you’ll need to tailor your approach to fit the particular needs of your company.

Keep in mind that the process of conducting comprehensive market research is an essential and unavoidable task if you want your localisation and expansion strategy to be successful. Make sure not to skip this incredibly important process while planning to conquer international markets and do the research in a professional manner.

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Conducting Market Research

International market research is a key piece of successful export planning. It is important to critically review and assess if the potential export destination is suitable for your product or service. You need to determine if there is a market, if your product is competitive after determining the landed cost, and then the most cost-effective and time-efficient export strategy.

There are many resources available to help U.S. exporters.

Research Process

Start by collecting trade data to gauge market size. Look for where opportunities may exist, whether demand is increasing or decreasing, and if there is competition.

For smaller companies, identifying 3 to 5 potential markets might be a good number to explore. You may also group potential countries by largest markets, fastest growing markets, and smaller markets with high growth.

Then review country and industry reports to assess market conditions, opportunities and challenges. This will help you decide which markets represent the best opportunities and are worth the investment of additional resources.

Step 1: Develop Your Research Questions

If you are a new exporter , consider:

How large are your potential markets?
What countries/markets are currently buying products like yours?
Who are your competitors, from which countries do they come, and how large are they?
What are the required standards, testing, and certifications?
Do your products (or their labeling or packaging) need to be modified for one or more markets?
What duties, taxes, and other costs apply? What are the shipping costs and partner margins? What is the landed cost, or total export price?
Is your price point appealing within the market? If not, what can you do to make it more appealing?
What distribution channels are available?

If you are an active exporter considering a new export market, or re-assessing a current market, it is equally important to conduct this market research as conditions frequently change. For example, there could be different shipping costs, tariffs, and regulations affecting your business. The goal of market research is to learn about:

The largest markets and/or fastest-growing markets for your product.
The market trends and outlook for your industry in that country.
The competitive landscape for your industry/product in that country, and potentially in region.
The costs associated with getting your product from your facility to customers in another country, i.e. the landed cost.
Any required product changes (and associated costs) to comply with the destination country’s regulations and standards.

Step 2: Conduct Research

Primary market research is information collected directly from the foreign marketplace through interviews, surveys, and other direct contact with representatives and potential buyers. Attending trade shows (in the U.S. or in international locations), conferences, or other industry venues can be useful places for many primary market research conversations.

The advantage of primary market research is that you tailor it to your company’s needs and specific questions. However, it can be time-consuming and expensive — and may not be comprehensive.

Secondary market research is information obtained from other sources, such as trade statistics or reports for a country or a product. This information tends to be less expensive, and in some cases, free.

Sources

To get a complete picture, look at both U.S. export statistics and a foreign country’s import statistics for the past few years.

There are a number of resources online to help exporters find and use export and import data. These resources range from U.S. government sites to multinational organizations such as the United Nations, to foreign government sites. Additionally, industry associations may collect and compile trade data and make it available to members.

Many trade data resources use the Harmonized System (HS) Code to provide details on growth or decline of exports in general, as well as data related to specific products.

Foreign Import Statistics

Find and analyze foreign import statistics by country to see which countries are importing your type(s) of products. Also consider complementary products, especially if your HS code is very general. Foreign import statistics will help you get a better sense of the broad demand for your product(s) than U.S. export statistics typically will.

Take note of which countries are importing the most of your type of product(s). You can look at overall value and the volume of imports.
Look for trends to see if the import market is expanding or declining over the last few years.
Identify smaller markets that are experiencing high growth despite lower import values. They may be emerging markets with less competition.

U.S. Export Statistics

Find and analyze U.S. export statistics by country to see which countries are importing your type of product(s) from the U.S. Again, use complementary products if your HS code is very general. U.S. export statistics can help you to identify markets that are more favorable markets for U.S. companies.

Compare U.S. export statistics for your product(s) with the foreign import statistics. If the U.S. exports represent a larger percentage of the imports, it might be an indicator that the market has a preference for U.S. products and that market conditions are favorable to U.S. companies. For countries where U.S. exports represent a lower percentage, it could mean that there are market conditions that make it a more challenging market for U.S. companies. That does not necessarily mean it is not a good market for your products, but that additional research is required to look at market conditions.
U.S export statistics can also help to identify to which markets your domestic competitors are exporting, which can be helpful as you plan your market entry strategies.
Review U.S. and state export level data, available through TradeStats Express to identify the largest export markets, which may reflect the competitive advantages of your state and/or historical trading partners. The data you find may help you also develop a competitive pricing strategy.
If you are in a service industry, some services trade data is available.

Country-Specific Research

For countries, look up data on population size and makeup, per capita income, and production levels by industry. These are important indicators of market potential for your company’s products. Resources for this type of information include, among others:

U.S. Commercial Service Country Commercial Guides (CCGs)
U.S. Commercial Service Market Intelligence
United Nations Statistical Yearbook
The World Bank Data Catalog
CIA World Factbook
International Monetary Fund (IMF) Data

Industry-Specific Research

For specific industries, find market information at:

U.S. Department of Commerce Top Markets Reports
U.S. Department of Agriculture Foreign Agricultural Service (FAS)
U.S. Department of Commerce Office of Textiles & Apparel (OTEXA)
Alcohol & Tobacco Tax & Trade Bureau (ATTB)
U.S. Department of Commerce National Travel and Tourism Office

Step 3: Review Potential Markets

For most small businesses, 3-5 foreign markets are enough - initially. You may want to test one market and then move on to secondary markets as your experience level develops. Additionally, it can be more cost-effective to focus on geographic regions rather than markets scattered around the globe.

Using the resources from your primary and secondary market research, evaluate the potential based on your research questions (above) and these additional factors:

Consistent market growth, and/or industry sector growth in the other country
Free Trade Agreement with the U.S.
Specific region within the country to target instead of the whole country
Demand for your type of product or related products to gauge overall consumption trends
Presence of local or other international competitors
Environment for your marketing material (costs of translation, does your product’s name translate accurately?)
Tariff or non-tariff barriers that might affect your product

Step 4: Develop an Export Plan

Once you have decided that your company is able to export and committed to it, develop your export plan with the data and insights you found. A customized export plan is a valuable strategic and operational tool for growing your export business.

You may conclude that your marketing resources would be applied more effectively to a few select countries. Exporting to a manageable number of countries allows you to focus your resources without jeopardizing your existing U.S. sales efforts.

Also, there are other items you should consider when Selecting Your Initial Markets .

It takes time to build an international business - often months, and sometimes years, to see a return on investment. By committing to the written plan, you can help ensure that your company continues to work towards long-term goals.

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Home » Marketing Management » International Marketing Research – Definition, Categories and Process

International Marketing Research – Definition, Categories and Process

International marketing managers make the same basic types of decisions as do those who operate in only one country. Of course, they make these decisions in a more complicated environment. As with marketing decisions, the basic function of marketing research and the research process does not differentiate between domestic and multinational research. However, the process is complicated almost exponentially as more and more countries are involved in the same decision. Marketing research practices and techniques have become truly global. For example, the world’s largest research firm, Nielsen, is headquartered in the U.S. but derives almost two-thirds of its revenue from outside the U.S. It is standardizing much of the data it routinely collects in 27 different countries.

The main factors which influence marketing research in different countries are;

Product. When a soft drink was launched in Arab countries, it has a label with six-pointed stars. The sales were very low as the stars were associated with Israel.
Price. An American firm was willing to set a reasonable price for the product they intended to sell to the Japanese. A detailed presentation was made to the Japanese businessmen, but it was followed by a deep silence. The Americans thought that the Japanese were going to reject the price and offered a lower price. The Japanese kept silent again. After that, the Americans lowered the price again saying that it was the lowest they could sell at. After a brief silence, the offer was accepted. Later the Japanese confessed that the first offered price was quite acceptable, but they had a tradition to think over the offer silently. An American company suffered great losses in this case.
Place. A company wanted to enter the Spanish market with two-liter drink bottles and failed. Soon they found out that Spaniards prefer small door fridges and they could not put large bottles into them.
Promotion. Pepsico came to Taiwan with the ad ‘Come Alive with Pepsi’. They could not imagine that is it translated ‘Pepsi will bring your relatives back from the dead’ into Chinese.
Racial Differences. This refers to the differences in the physical features of people in different countries. For example, types of hair cut and cosmetic products differ greatly in various countries.
Climatic Differences. These are the meteorological conditions such as temperature range or degree of rain. For example, Bosch-Siemens adapted their washing machines to the markets they sell. In Scandinavia, where there are very few sunny days, they sell washing machines with a minimum spin cycle of 1,000 rpm and a maximum of 1,600 rpm, whereas in Italy and Spain a spin cycle of 500 rpm is enough.
Economic Differences. Economic development of various countries is different and when a company introduces a new product it adapts it to that new market. There are factors that show the level of economic development .
Buying power and revenue of the market. In developed countries with higher income of revenue, people prefer complicated products with advanced functions, while in poor countries simple products are preferable.
The infrastructure of the market. Such elements of the infrastructure of the country as transport, communication system, and others influence the product. When Suzuki entering the Indian market the suspension was reinforced as the state of roads in India is very poor.
Religious Differences. Religion affects the product greatly and makes companies adapt their product to religious norms. If a company exports grocery products to Islamic countries it must have a special certificate indicating that the animal was slaughtered according to ‘Halal’ methods.
Historical Differences. Historical differences affect consumer behavior . For instance, Scotch whiskey is considered fashionable in Italy and not very trendy in Scotland.
Language Differences. The correct translation and language adaptation is very important. For example, when Proctor & Gamble entered the Polish markets it translated properly its labels but failed. Later they found out that imperfect language must have been used in order to show that the company fits in.

International Marketing Research Categories

International marketing research is the systematic design, collection, recording, analysis, interpretation, and reporting of information pertinent to a particular marketing decision facing a company operating internationally. International marketing managers need to constantly monitor the different forces affecting their international operations.

There are three general categories of research based on the type of information required.

Exploratory research deals with discovering the general nature of the problem and the variables that relate to it. Exploratory research is characterized by a high degree of flexibility, and it tends to rely on secondary data, convenience or judgment samples, small-scale surveys or simple experiments, case analyses , and subjective evaluation of the results.
Descriptive research is focused on the accurate description of the variables in the problem model. Consumer profile studies, market-potential studies, product-usage studies, attitude surveys, sales analyses, media research, and price surveys are examples of descriptive research. Any source of information can be used in a descriptive study, although most studies of this nature rely heavily on secondary data sources and survey research.
Causal research attempts to specify the nature of the functional relationship between two or more variables in the problem model. For example, studies on the effectiveness of advertising generally attempt to discover the extent to which advertising causes sales or attitude change.

Concomitant variation, or invariant association, is a common basis for ascribing cause. For example, advertising expenditures vary across a number of geographic areas and measure sales in each area. To the extent that high sales occur in areas with large advertising expenditures and low sales occur in areas with limited advertising expenditures, it is inferred that advertising is a cause of sales. It must be stressed that this has been only inferred, it is not proved that increased advertising causes increased sales.

The sequence of occurrence can also provide evidence of causation. For one event to cause another, it must always precede it. An event that occurs after another event cannot be said to cause the first event. The importance of sequence can be demonstrated in the last example of advertising causing sales. It is supposed that further investigation showed that the advertising allocation to the geographic regions had been based on the last period’s sales such that the level of advertising was directly related to past sales. Suddenly, the nature of our causal relationship is reversed. Now, because of the sequence of events, it can be inferred that changes in sales levels cause changes in advertising levels.

Steps of International Marketing Research Process

The international marketing research process, as well as the domestic one, is a series of separate steps. However, the international marketing research process has some peculiarities such as the national differences between countries arising out of political, legal, economic, social, and cultural differences and, the comparability of research results due to these differences.

Step 1. Research Problem Definition

Problem definition is the most critical part of the research process. Research problem definition involves specifying the information needed by management. Unless the problem is properly defined, the information produced by the research process is unlikely to have any value.

Step 2. Information Value Estimation

the cost of wrong decision increases,
our level of knowledge as to the correct decision decreases, and
the accuracy of the information the research will provide increases.

The principle involved in deciding whether to do more research is that research should be conducted only when the value of the information to be obtained is expected to be greater than the cost of obtaining it.

Step 3. Selection of the Data Collection Approach

There are three basic data collection approaches in international marketing research: (1) secondary data, (2) survey data, and (3) experimental data. Secondary data were collected for other purposes than helping to solve the current problem. Primary data are collected expressly to help solve the problem at hand. Survey and experimental data are therefore secondary data if they were collected earlier for another study; they are primary data if they were collected for the present one. Secondary data are virtually always collected first because of their time and cost advantages.

Step 4. Measurement Technique Selection

Step 5. sample selection.

Most marketing studies involve a sample or subgroup of the total population relevant to the problem, rather than a census of the entire group. The population is generally specified as a part of the problem definition process.

Step 6. Selection of Methods of Analyses

Data are useful only after analysis. Data analysis involves converting a series of recorded observations into descriptive statements and/or inferences about relationships. The types of analyses, which can be conducted, depending on the nature of the sampling process, measurement instrument, and the data collection method.

Step 7. Evaluation of the Ethics of the Research

Step 8. estimation of time and financial requirements.

Time refers to the time needed to complete the project. The financial requirement is the monetary representation of personnel time, computer time, and materials requirements. The time and finance requirements are not independent.

Step 9. Preparation of Research Proposal

The research design process provides the researcher with a blueprint, or guide, for conducting and controlling the research project. This blueprint is written in the form of a research proposal. A written research proposal should precede any research project. The research proposal helps ensure that the decision-maker and the researcher are still in agreement on the basic management problem, the information required, and the research approach.

The Nature of International Secondary Data

Data availability, recency, accessibility, and accuracy vary widely from country to country. Until recently, there were few commercial databases in Japan because of the difficulty of using Japanese characters on computers. Now the problem is resolved. The Japanese government prepares many potentially useful reports, but even Japanese firms seldom use them because they are poorly organized and indexed. Secondary data in many non-democracies often reflect political interests more closely than reality. In general, the amount of secondary data available in a country varies directly with its level of economic development.

Even when accurate data are accessible, it may not be possible to make multinational comparisons. Data from several countries may not be comparable because the data were collected at different times, use different units of measurement, cover slightly different topics, or define the classes (such as age groups) differently. This has become a major problem in the European Community as firms begin to analyze the market as a whole rather than as a collection of individual countries. To resolve part of the problem, ESOMAR has proposed a standardized set of questions to gather demographic data in both government and private surveys. Similar work is underway in Brazil, India, and the Middle East.

Internal Sources of International Secondary Data

External sources of international secondary data.

For example, when a company starts an external search for international secondary data it consults general guides to this type of data, such as the International Marketing Handbook of the US Department of Commerce’s International Trade Administration, The World of Information (Africa Guide), or it contacts Euromonitor, the leading provider of world business information and market analysis. An alternative to conducting such a search “in-house” is to use a specialist firm such as PricewaterhouseCoopers and McKinsey.

a) Databases

Both ABI (Abstract Business Information)/Inform, which contains 150-word abstracts of articles published in about 1,300 business publications worldwide, and Predicasts, which provides 11 online databases, have significant international content in their bibliographic databases. Predicasts coverage is particularly good and it is growing rapidly. In fact, half its information is on companies and industries from outside the U.S. Its major bibliographic database, PROMPT, contains material from all over the world. Both Infomat International Business and Worldcasts are focused on companies, products, industries, economies, and so forth outside the U.S. Predicasts also have separate F&S Indexes for Europe and for the rest of the world excluding Europe and the U.S. A major advantage of these abstracts is that they are all in English. Copies of the entire article are generally available in the original language.

b) Foreign Government Sources

C) international political organizations.

Three major international political organizations provide significant amounts of data relevant to international marketing activities. The United Nations and its related organization, the United Nations Educational, Scientific and Cultural Organization, provide hundreds of publications dealing with the population, economic, and social conditions of over 200 countries.

The World Bank lends funds, provides advice, and serves as a catalyst to stimulate investments in developing nations. To carry out its missions, it collects substantial amounts of useful data which can be purchased inexpensively.

Issues in International Primary Data Collection

Primary data are the data collected to help solve a problem or take advantage of an opportunity on which a decision is pending.

The main advantage of primary data lies in the fact that it is collected for solving the exact problem and that is why it is characterized by high usefulness and novelty. The disadvantage is that the costs of collecting primary data are much higher in foreign developing markets as there is a lack of an appropriate marketing research infrastructure.

Quantitative researches are more structured. They involve both descriptive research approaches, such as survey research, and causal research approaches, such as experiments. More respondents take part in quantitative research, although it highlights fewer problems than qualitative research.

International marketing research in a cross-cultural environment requires the measurement of behaviors and attitudes. A major issue in primary data collection is the existence of the so-called EMIC vs. ETIC dilemma. The EMIC school states that attitudinal and behavioral phenomena are unique to a culture. The ETIC school is primarily concerned with identifying and assessing universal attitudinal and behavioral concepts and developing pan-cultural or culture-free measures.

Survey Methods of International Marketing Research

Personal interviews are considered to be the most popular method of data collection in international marketing research. However, there are several constraints to the usage of this technique. In Middle East countries, personal interviews are treated with great suspicion. Moreover, the personnel for the survey should be male and they may conduct interviews with housewives only when their husbands are at home. In Latin American countries, where the tax protest movement is being developed, the interviews are thought to be tax inspectors.
Mall intercept surveys may be used in the United States, Canada, and European countries. As far as the developing countries are concerned they are not common.
Telephone interviews have several advantages over other survey methods of international marketing research. The time and costs of international telephone calls are reducing, the surveys may be conducted from one place, the results of telephone interviews are considered reliable and it is easier to perform the client and interviewer control. But telephone surveys also have some limitations because of poor telecommunication systems in several countries. For example, in India telephone penetration is only 1 percent and telephone surveys reduce the survey coverage greatly. But even in such developed countries as Great Britain telephone penetration comprises only 80 percent. That is why a lot of marketers are very skeptical about telephone surveys and nowadays there is a great reduction in their application.
Mailing surveys are widely used in industrialized countries, where there is a high level of literacy, good mailing services, and availability of mailing lists. However, the use of this method in developing countries has some constraints. In some countries people consider the mailing surveys to be an invasion into their private life and the effectiveness of these surveys is reduced. In such countries as Brazil, where only 30 percent of mail is delivered, mailing surveys can not be used as well.
Electronic surveys become more popular in the United States and Europe and they are used for products that require technological literacy such as computers and computer software. E-mail surveys begin to replace mail and telephone surveys. The limiting factors for electronic surveys are as follow: there are still many countries with low internet access, the internet versions available in various countries may not be compatible and there may be a big number of non-responses because of technical issues. At the same time, the speed of getting responses and the low costs of surveys makes this method suitable for international marketing research.

International marketing research is the systematic design, collection, recording, analysis, interpretation, and reporting of information relating to a particular marketing decision facing a company operating internationally. The international marketing research process has some peculiarities such as the national differences between countries arising out of political, legal, economic, social, and cultural differences and, the comparability of research results due to these differences.

A company performing international marketing research may experience several problems. Firstly, there is a complexity of research design due to operation in a multi-country, multicultural, and multi-linguistic environment. Secondly, the availability of secondary data varies widely from country to country. In some markets, especially emerging and unstable, the data is neither available nor reliable. Thirdly, the costs of collecting primary data are much higher in foreign developing markets as there is a lack of an appropriate marketing research infrastructure. Fourthly, problems associating with coordinating research and data collection in different countries may arise. And finally, there are the difficulties of establishing the comparability and equivalence of data and research conducted in different contexts.

Marketing Research – Definition, Importance and Process
Importance of Marketing Research in Marketing Process
Market Research – Definition, Classification and Process
Marketing Strategy: Definition and Process
Country of Origin Effect in International Marketing
International Marketing Communication – Key Issues and Challenges
Are Market Research and Marketing Research the Same?
Relationship Between Marketing Research and Marketing Strategy
Role of Communication Process in International Advertising
Ethnocentrism in International Marketing

8 Reasons Why Companies Need to Research Their International Markets

Market research is an essential activity for companies of all kinds. When entering a new local market or category, it’s crucial to do as much research as possible in a multitude of areas to ensure you’re as prepared as possible to launch a successful entry with minimal risk.

When entering an international market, market research is no less important. In fact, it may be even more important, as the stakes are higher and you’ll be facing entirely new market conditions.

A question we often hear is, “why is it important for marketers to research the competition?” This article will examine international market research, how it typically differs from what you’re used to in your domestic market, and some of the main reasons why companies need to do it.

What is international market research?

International market research is a blanket term for all the research and preparation you do on a new market, usually before entering it. Unlike domestic market research, international market research is focused on an overseas market, often with completely different cultures, business conditions and consumer behaviors.

There are many different methods and stages involved in international market research. In many cases, the individual methods and techniques are the same as domestic market research, but your overall strategy will likely be very different.

What are the objectives of international marketing research?

International market research is a way of understanding a new, overseas market before you launch a product or service there. The main objectives are to understand your target customers, identify any challenges, get familiar with your competitors, and anything else that will boost your chances of success and avoid unpleasant surprises.

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How is international market research different from domestic research?

There are several key differentiating factors between domestic market research and international market research. Here are some of the key differences:

You’re entering a market with social and cultural differences

Domestic market research is already difficult, but the often vast differences between your home country and your target country make international market research much more challenging in many ways.

Often, the reasons for this difficulty are the exact same reasons why you need to do the research in the first place — you need to learn as much as possible about a region and culture that may be entirely unlike your own.

The differences between countries can create many challenges for researchers. For example, a research method like one-on-one interviews that works extremely well in western countries like the UK and US may fail miserably in other parts of the world where it is treated with suspicion.

There may be more restrictions around research

In addition to cultural and social differences, international markets also come with legal differences. While you might have a good understanding of how the law (as it relates to market research) works at home, the reality abroad may be very different.

This means you’ll need to be aware of an entirely new set of rules in order to avoid breaking them and ending up in legal trouble. One example is the USA’s TCPA, which forbids calling a cellphone using an automated dialing system.

Legal differences make it imperative to conduct legal research and coordinate with lawyers in your target market before beginning any research. Ending up on the wrong side of the law could be catastrophic.

It requires much more investment

Market research on your home soil can often be done relatively cheaply. When doing the same research abroad, however, costs can quickly skyrocket. Seemingly simple things like hiring venues, running telephone interviews, and gathering people to interview can become exponentially more complicated when you’re doing it in a foreign country with people who speak another language.

You may find yourself needing to hire a small army of staff on the ground to help you carry out these tasks. To make things even more frustrating, the cheaper market research methods like email and online surveys don’t work nearly as well in developing countries with less widespread internet access.

8 reasons why companies need to research their international markets

Despite the additional challenges involved, international market research is simply unavoidable if entering a new market overseas. Here are some of the reasons why.

1. Differences in culture

The culture of your overseas target market may be similar to yours, but it could also be completely different. Failing to adequately research the culture of your target market could result in serious blunders, which could seriously harm your market entry and brand reputation.

Cultural differences don’t have to be vast in order to cause major problems. For example, in many African countries containers are labeled with a picture of their contents. When baby nutrition company Gerber entered this market with their jars labeled with photos of babies, the reaction was understandably negative and seriously impacted sales.

2. Differences in laws and regulations

Laws and regulations don’t just have an impact on your market research methods. They can affect every part of your market entry process and how you conduct your business in your new market.

If you enter a new market without a comprehensive understanding of the law and its relation to your activities, you risk ending up in legal trouble.

There are many different potential legal pitfalls to consider when entering a new market. Some examples are environmental regulations, tax laws, and laws that pertain to hiring new staff. On top of this, rules can change quickly, and what was completely legal five years ago might be a huge no-go today. This is one area where one-off research isn’t enough — you’ll have to conduct regular and ongoing research and work with legal experts in your target market.

3. Differences in customer preferences

Customers in one country may have completely different preferences to those in another. This can be due to the cultural issues mentioned earlier, but it can also result from other factors.

When China began allowing its citizens to buy and own homes a few decades ago, US DIY chain Home Depot quickly capitalised on this new opportunity. Six years later, they closed all their Chinese stores, never to return.

The reason — they opened all their stores in the suburbs, but most middle-class Chinese citizens tend to live in apartment blocks in the cities, homes that don’t require or allow much renovation. This simple misunderstanding due to incomplete research led to the complete failure of Home Depot’s market entry attempt.

4. Understand competition

When you enter a new market, you’ll need to compete with the brands that are already there. This is not easy — you’re already at a significant disadvantage compared to companies who have been established in that region for a long time and are well-known to the local consumers.

It’s essential to understand who you are competing against, and — more importantly — how they have been able to succeed. What exactly is it that customers like about your competitors? What keeps them coming back? What has allowed them to gain and maintain a hold in your target market?

Answering these questions through research will give you valuable direction on what your brand has to do to succeed. It will also highlight weaknesses in your competitors that you can address in your marketing.

5. Mitigate risk

Entering any new market is a risky venture, and that risk increases when you expand abroad. According to research by the Harvard Business Review , companies operating abroad faced far lower Return on Assets compared to those in domestic markets. Many of these companies do not survive the attempt.

Market research allows you to mitigate your risk by being as prepared as possible for the myriad challenges involved in entering a foreign market. You’ll better understand your customers and what they want, be more prepared to take on your competition, avoid legal issues, and have a more viable strategy. Entering a new market overseas will never be risk-free, but research allows you to minimise that risk.

6. Logistical challenges

The logistical challenges involved in entering a foreign market can be enormous. You’ll need to do things like select and evaluate suppliers, hire new staff, find appropriate premises, learn about payment procedures and financial infrastructure, find ways to transport your products around your new market, comply with import and export regulations, and much more.

When entering a market in the developing world, these challenges become compounded. Regions without well-established transport infrastructure, financial systems, labour laws, government, and so on can create an endless series of logistical challenges.

To prepare for this, you’ll need to research your new market rigorously. Understand all the potential issues facing you so you have time to prepare and aren’t caught unawares by a problem that might set back your operations by a significant amount.

7. Prepare a solid strategy and budget

A well-established strategy and budget plan is an essential starting point for any market entry process. The only way to do this effectively is through diligent market research.

Market research allows you to understand the costs of your new market, including unexpected costs. It also helps you anticipate obstacles and challenges, and flesh out your strategy in a way that boosts your chances of success.

Suppose you need to win the support of high-level stakeholders in your organisation. In that case, a well-prepared and financed strategy is an excellent way to convince them that your market entry attempt is well-placed to go ahead.

8. Find available marketing channels

Marketing your product in a foreign market comes with a unique set of challenges and considerations. Channels that work well in your home country may fail abroad — for example, digital marketing in a country with poor internet access.

On top of that, your messaging will need to take into account all the cultural and linguistic characteristics of your target market. An advertising campaign that works well at home may very well perform terribly on the other side of the world.

Market research is a great way to identify the marketing channels and approaches that typically work well for similar products in your target market, helping you plan an effective marketing strategy and boost your chances of success from the start.

Market research is an essential and unavoidable task if you want to enter a foreign market successfully. Done right, it can help reduce the many risks involved and give your product the best possible chances of succeeding in a market that may be radically different from the ones you currently operate in.

Contact Kadence to learn more about how we can help you with international market research , along with all other kinds.

Helping brands uncover valuable insights

We’ve been working with Kadence on a couple of strategic projects, which influenced our product roadmap roll-out within the region. Their work has been exceptional in providing me the insights that I need. Senior Marketing Executive Arla Foods

Kadence’s reports give us the insight, conclusion and recommended execution needed to give us a different perspective, which provided us with an opportunity to relook at our go to market strategy in a different direction which we are now reaping the benefits from. Sales & Marketing Bridgestone

Kadence helped us not only conduct a thorough and insightful piece of research, its interpretation of the data provided many useful and unexpected good-news stories that we were able to use in our communications and interactions with government bodies. General Manager PR -Internal Communications & Government Affairs Mitsubishi

Kadence team is more like a partner to us. We have run a number of projects together and … the pro-activeness, out of the box thinking and delivering in spite of tight deadlines are some of the key reasons we always reach out to them. Vital Strategies

Kadence were an excellent partner on this project; they took time to really understand our business challenges, and developed a research approach that would tackle the exam question from all directions. The impact of the work is still being felt now, several years later. Customer Intelligence Director Wall Street Journal

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What is International Marketing Research? Scope, Factors

Post last modified: 20 April 2021
Reading time: 6 mins read
Post category: Marketing Essentials

What is International Marketing Research?

International Marketing Research can be defined as research that crosses national boundaries and involves the respondents and researchers from various countries and cultures. It may be conducted simultaneously in multiple countries or sequentially over a period to time.

Table of Content

1 What is International Marketing Research?
2 Scope of International Marketing Research
3.1 Cultural differences
3.2 Climatic Differences
3.3 Economic Differences
3.4 Religious Differences
3.5 Historical Differences
3.6 Language Differences

The major objectives of International Marketing Research are:

To carry out country screening and selection.
To evaluate a country’s market potential.
To identify problems that would not require a country’s listing for further consideration.
To identify aspects of country’s environment that needs further study.
To evaluate the components of marketing mix for possible adoptions.
To facilitate in developing strategic marketing plan.

Scope of International Marketing Research

The following activities are included in international market research:

Analysis of the market size according to the age, gender, income, profession and standard of living of customers.
Estimating the regional or territorial demand of different markets.
Understanding the diverse consumer demands and consumer, behavior and then translates their behaviors into the markets strategies and collecting information about the existing and prospective customers.
Information needs for international market entry, which includes micro issues (for instance product and services sales potential, market growth rate and completive intensity) and macro issues e.g. (Political, legal and regulatory environment of each international country).
Analyzing the working of various channels of distribution and their role in creating market demand of the product.
Forecasting the profitability of different markets and marketing segments.

Factors Influencing International Marketing Research

Cultural differences.

Culture refers to widely shared norms or patterns of behavior of a large group of people. Culture comprises of the values, attitudes, beliefs, artifacts and the other symbols represented in the pattern of life adopted by people that help them interpret, evaluate and communicate as members of a society.

A country which is operating in the International market is in need of cross cultural awareness. Cross cultural differences such as different forms of values, norms, rituals, non-verbal communication and language are to be carefully viewed and incorporated in the strategic decisions. A few examples of the cultural blunders in the marketing mix are:

Example: When a soft drink was launched in Arabian countries, it had label with six pointed stars. The sale of the product was very low as the stars were associated with Israel.

Climatic Differences

These are the meteorological or climatic conditions such as temperature range or degree of rain etc.

Example: Bosch-Siemens adapted their washing machines to the markets they sell. In Scandinavia, where there are very few sunny days, they sell washing machines with a minimum spin cycle of 1,000 rpm and a maximum of 1,600 rpm, whereas in Italy and Spain a spin cycle of 500 rpm is enough.

Economic Differences

Economic development and economic conditions of various countries is different and when a company introduces a new product it adapts it to that new market. There are factors which show the difference in the level of economic development

As in the case of the developed nations, the buying power and revenue of the market with higher income of revenue people prefer complicated product with advanced functions, while in poor countries simple product are more preferred.

Religious Differences

Religion too affects the product greatly and makes companies adapt their product to religious norms.

Example: If a company exports grocery products to Islamic countries it must have a special certificate indicating that the animal was slaughtered according to ‘Halal’ methods.

Historical Differences

Historical differences affect the consumer behavior. For instance, Scotch whiskey is considered fashionable in Italy and not very trendy in Scotland.

Language Differences

The correct translation and language adaptation is very important. Example : when Proctor & Gamble entered the Polish markets it translated properly its labels but failed. Later they found out that imperfect language must have been used in order to show that the company fits in.

Besides the differences mentioned above, there may be differences in the way that products or services are used, differences in the criteria for assessing products or services across various markets and differences in market research facilities and capabilities which influence the strategic decisions.

Marketing Management

( Click on Topic to Read )

What Is Market Segmentation?
What Is Marketing Mix?
Marketing Concept
Marketing Management Process
What Is Marketing Environment?
What Is Consumer Behaviour?
Business Buyer Behaviour
Demand Forecasting
7 Stages Of New Product Development
Methods Of Pricing
What Is Public Relations?
What Is Marketing Management?
What Is Sales Promotion?
Types Of Sales Promotion
Techniques Of Sales Promotion
What Is Personal Selling?
What Is Advertising?
Market Entry Strategy
What Is Marketing Planning?
Segmentation Targeting And Positioning
Brand Building Process
Kotler Five Product Level Model
Classification Of Products
Types Of Logistics
What Is Consumer Research?
What Is DAGMAR?

Consumer Behaviour Models

What Is Green Marketing?
What Is Electronic Commerce?

Agricultural Cooperative Marketing

What Is Marketing Control?
What Is Marketing Communication?
What Is Pricing?
Models Of Communication

Sales Management

What is Sales Management?
Objectives of Sales Management
Responsibilities and Skills of Sales Manager
Theories of Personal Selling
What is Sales Forecasting?
Methods of Sales Forecasting
Purpose of Sales Budgeting
Methods of Sales Budgeting
Types of Sales Budgeting
Sales Budgeting Process
What is Sales Quotas?
What is Selling by Objectives (SBO) ?
What is Sales Organisation?
Types of Sales Force Structure
Recruiting and Selecting Sales Personnel
Training and Development of Salesforce
Compensating the Sales Force
Time and Territory Management
What Is Logistics?
What Is Logistics System?
Technologies in Logistics
What Is Distribution Management?
What Is Marketing Intermediaries?
Conventional Distribution System
Functions of Distribution Channels
What is Channel Design?
Types of Wholesalers and Retailers
What is Vertical Marketing Systems?

Marketing Essentials

What i s Marketing?
What i s A BCG Matrix?
5 M'S Of Advertising
What i s Direct Marketing?
Marketing Mix For Services
What Market Intelligence System?
What i s Trade Union?
What Is International Marketing?
World Trade Organization (WTO)
What i s International Marketing Research?
What is Exporting?
What is Licensing?
What is Franchising?
What is Joint Venture?
What is Turnkey Projects?
What is Management Contracts?
What is Foreign Direct Investment?
Factors That Influence Entry Mode Choice In Foreign Markets
What is Price Escalations?
What is Transfer Pricing?
Integrated Marketing Communication (IMC)
What is Promotion Mix?
Factors Affecting Promotion Mix
Functions & Role Of Advertising
What is Database Marketing?
What is Advertising Budget?
What is Advertising Agency?
What is Market Intelligence?
What is Industrial Marketing?
What is Customer Value

Consumer Behaviour

What is Consumer Behaviour?
What Is Personality?
What Is Perception?
What Is Learning?
What Is Attitude?
What Is Motivation?
Consumer Imagery
Consumer Attitude Formation
What Is Culture?
Consumer Decision Making Process
Applications of Consumer Behaviour in Marketing
Motivational Research
Theoretical Approaches to Study of Consumer Behaviour
Consumer Involvement
Consumer Lifestyle
Theories of Personality
Outlet Selection
Organizational Buying Behaviour
Reference Groups
Consumer Protection Act, 1986
Diffusion of Innovation
Opinion Leaders

Business Communication

What is Business Communication?
What is Communication?
Types of Communication
7 C of Communication
Barriers To Business Communication
Oral Communication
Types Of Non Verbal Communication
What is Written Communication?
What are Soft Skills?
Interpersonal vs Intrapersonal communication
Barriers to Communication
Importance of Communication Skills
Listening in Communication
Causes of Miscommunication
What is Johari Window?
What is Presentation?
Communication Styles
Channels of Communication
Hofstede’s Dimensions of Cultural Differences and Benett’s Stages of Intercultural Sensitivity
Organisational Communication
Horizontal C ommunication
Grapevine Communication
Downward Communication
Verbal Communication Skills
Upward Communication
Flow of Communication
What is Emotional Intelligence?
What is Public Speaking?
Upward vs Downward Communication
Internal vs External Communication
What is Group Discussion?
What is Interview?
What is Negotiation?
What is Digital Communication?
What is Letter Writing?
Resume and Covering Letter
What is Report Writing?
What is Business Meeting?
What is Public Relations?

Business Law

What is Business Law?
Indian Contract Act 1872
Essential Elements of a Valid Contract
Types of Contract
What is Discharge of Contract?
Performance of Contract
Sales of Goods Act 1930
Goods & Price: Contract of Sale
Conditions and Warranties
Doctrine of Caveat Emptor
Transfer of Property
Rights of Unpaid Seller
Negotiable Instruments Act 1881
Types of Negotiable Instruments
Types of Endorsement
What is Promissory Note?
What is Cheque?
What is Crossing of Cheque?
What is Bill of Exchange?
What is Offer?
Limited Liability Partnership Act 2008
Memorandum of Association
Articles of Association
What is Director?
Trade Unions Act, 1926
Industrial Disputes Act 1947
Employee State Insurance Act 1948
Payment of Wages Act 1936
Payment of Bonus Act 1965
Labour Law in India

Brand Management

What is Brand Management?
4 Steps of Strategic Brand Management Process
Customer Based Brand Equity
What is Brand Equity?

What is green marketing definition, challenges, importance, market intelligence, what is sales promotion types, objectives, importance, designing, what is franchising advantages, disadvantages.

Stages of New Product Development Process

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How to Build a Career in International Research

Working in a western university begins with a PhD program, which is an essential first step towards a career in academia.

Rector of Moscow’s New Economic School (NES) Ruben Enikolopov, Professor of the Massachusetts Institute of Technology Anna Mikusheva, as well as recent NES graduate Artemii Korolkov, who has enrolled in an economics PhD program at the University of Pennsylvania, and joint NES-HSE bachelor program graduate Anna Shchetkina, who has entered into quantitative marketing PhD program at the Wharton School of the University of Pennsylvania, all share their thoughts on how best to prepare to apply, how to choose a program and university, how research work is carried out in a foreign university and how to build a career after graduation.

What is the value of an international PhD program?

Ruben Enikolopov How do standard PhD programs work? During the first two years in any top international program, you’ll learn from some of the world’s leading academics who are pushing forward the boundaries of scientific knowledge. You will only start conducting your own research work after two solid years of studying and exams. For the remaining three-four years, under the guidance of these academics, you will put forward your own ideas that test the limits of what we know. You can only get a feel for these limits in a foreign PhD program. An additional, but not always obvious, benefit of these programs is that you will be able to network with people, your classmates could become your co-authors or advisors. You will build social capital.

Anna Mikusheva Attending an international university gives you tremendous social experience. You will enjoy being surrounded by amazing, intelligent and talented people who are passionate about making the world a better place. I did not really experience this diversity in Russia while I studied at Moscow State University, even though I have great respect and love for this place. At Moscow State we were all pretty similar, because we had roughly the same life experience. America, on the other hand, is a melting pot, and this is especially evident in its universities. People with different opinions and backgrounds from different countries go there to study. For the first couple of years I was left speechless by the broad spectrum of their ideas. Everyone was so unlike one another that it was impossible to predict who would say what. This life experience is one of the things that made me think of staying in academia just because it was nice to be in this environment.

Anna Shchetkina During my bachelor’s, my goal was simple: I needed to pick my courses, do my homework, pass my exams and get good grades. After five years of studying for a PhD, after which I hope to become a professor, I’ll have to write papers that will advance the knowledge of the whole world. No one teaches you this during your bachelor’s degree. A PhD program will give me this unique opportunity, to have people share their experience and tell me what I need to do to create something genuinely new instead of simply regurgitating someone else’s work.

Artemii Korolkov My main hope regarding a PhD abroad is to conduct my own independent research. While studying at a bachelor's or a master’s program it’s quite difficult to work on the same thing for a long time without getting distracted by other things. A PhD gives you this opportunity and that’s why most people do a doctorate.

Ruben Enikolopov I would like to warn graduates that starting independent research activities does not happen so quickly and painlessly. For the first two years, students, of course, are already beginning to put forward new ideas, but still devote more time to their studies. PhD students even have something called “third year depression,” where courses come to an end and they have to come up with new ideas on their own and that’s very difficult. It passes for most people when they stick to something and eventually break down this wall.

Anna Mikusheva I agree with Ruben, I think he is talking about patience and grit. We always want to get results quickly. While working in academia, I was surprised to learn how much time it takes to produce anything worthy. If you set yourself a goal and achieve it on the first try, it probably means the problem was too easy and there’s no point in writing a paper about it. If you solve the problem on the fourth attempt, for example, then it’s more promising but still potentially not too interesting. You can work for months, sometimes years on genuinely interesting questions, but when you find the solution, it will be a thing of beauty. Like many, I also became depressed in my third year, it’s a really difficult time in any PhD program. It stems partially from the fact that we expect to be successful very quickly. You need to understand that scientific research takes a long time and time also defines how deeply you can delve into something.

How to prepare to apply for an international PhD program

Artemii Korolkov There are technical requirements, you need to prove your knowledge of English by taking an internationally recognized test, for most programs you also need a sufficient GRE General scores in math. However, recommendation letters from your professors are the most important thing. You need to communicate and work with your recommenders for quite a long time to get them. I would recommend that you start off by arranging to get these recommendations, and only then sitting your exams, writing cover letters and selecting a university.

Anna Shchetkina Yes, getting recommendation letters really does take a long time. It took three years for me to get mine, I worked with my professor as a research and teaching assistant. However, the thing that surprised me the most in the application process, was how much time I spent having interviews with universities. I had finished submitting all my paperwork by December, and I had interviews with foreign universities from January until March, all of which I had to prepare for. Once the school has taken a decision and sends you an offer letter, there are going to be even more conversations, because now you get to know your professors and discuss your interests and projects with them. This final stage of the enrollment process is crucial for your further study at that university.

Ruben Enikolopov Getting the recommendation letters is the key element of the application process. Your professors take into account all the aspects of the students’ work, including their skills as research assistants. But the most important thing is how students carry out their own research. Thesis papers are still in progress in the autumn or beginning of winter when recommendation letters are usually written. However, students are already preparing to write them, and professors usually describe how well this is going in the recommendation letter. In these letters, it’s not enough simply to say that a student is very intelligent, asks good questions and gets decent grades. There need to be specific examples, for instance, “she is embarking upon her research work, look at this great idea she has and the superb way she is developing it.” Students should start working on their degree thesis as soon as possible to give their professors something to write about.

Now for a bit of cynical advice: at least one letter should be from a professor whose published work is well-respected enough to make his recommendation stand out to those who read it. If your letters are written by professors who do not publish at the international level or young academics who are yet to establish themselves, it could reduce your chances of getting in.

Anna Mikusheva University admission officers want to know who can and will conduct research and you need to prove you fit this criterion. This can be reflected in your CV, recommendation or cover letters. You need to outline your track record. Students normally describe their projects, present published articles and speeches for conferences. It is very important to describe your experience as a professor’s research assistant, if any. Many students have internships at government agencies involved in economic policy. If you have the opportunity during your internship to demonstrate your depth of thought and ability to focus on a single important issue, you should definitely bring this to the university’s attention. When choosing who should write you recommendation letters, think about what this person can add to what you’ve already put in your application. By the way, your recommendation letter doesn’t always have to be written by your professor. If you have conducted policy research in the Central Bank, for example, it would look better if your adviser there gave you a reference than a professor you only took one course with. Predoctoral fellowships are also becoming more popular, these are research positions people take up before their PhD in order to gain research experience and good references.

How to choose a program and university

Anna Mikusheva If we’re talking about economics programs, it’s important to note that there is a hierarchy of schools. You should have a decent understanding of which universities are ranked best and how they got there. When applying, you’ll normally take this into consideration and know where you want to go.

How do PhD programs differ from one another? First of all, by their students. As Ruben has already said, you’ll be studying, co-authoring articles and communicating with these people your entire professional life. Most universities publish information on their websites about what their graduates do. If you really want a career in academia, you should aim at a highly ranked university, because these are where future academics are born.

The second difference - how many areas of economics are researched at the university, or how diverse the expertise of its professors is. Most of the top schools cover almost all branches of Economics well. This is very important because more than half of students change their specialization within Economics during their PhD. This is what I did, when after just a year and a half of studying I switched my focus from Micro Theory to Econometrics. If a PhD program gives you the opportunity to change your course, then it’ll be pretty seamless. However, universities further down the rankings might not have active research faculty in some fields of Economics. It’s more difficult to study what you want if your choice is limited.

Ruben Enikolopov If you choose to go to a university outside the top-10, you really need to understand how the specifics of that institution could affect your studies. It’s very useful to talk to professors who know the nuances of different universities, because you can’t always find this out from the information they publish on their websites. For example, it could turn out that the renowned academic you’d like to study under no longer works with students.

In recent years, some PhD programs in European universities have become much stronger. They may not reach the level of top-10 American universities, but they’re already very competitive.

Anna Shchetkina In marketing, there is also a specific list of top-10 universities you need to go to in order to get a good job in the future. I applied to all these universities, without giving much thought to where exactly I wanted to go. It was only when I received offer letters and was having interviews with universities, that my research supervisor who knows the ins and outs of these institutions really helped by giving me an idea of which schools taught which areas. For example, all branches of economics are represented more or less equally in leading universities, but the situation with marketing is a bit different. A top university could have a marketing program, but you may only be able to specialize in one area. So not every university will cover the specific field you want to study.

Artemy Korolkov People normally apply to quite a few universities. Anna applied to 10, I applied to 13. This is the average; some even send applications to 20 universities or more. When you get your offer letters and it’s time to make a choice, you can always contact students and professors in these programs. This is what I did and they always replied quickly and gave detailed answers to all my questions.

Which skills are necessary to study on an international PhD program

Ruben Enikolopov First of all, you should have a desire to do research. You can always change your mind and work in the private sector after your PhD program, but you need to have this strong motivation at the start. Secondly, to do science, you must be stubborn and, to a certain extent, mentally resilient. Nothing works out the first time you try it. When you become a professor, things only get worse, because you will send articles to scientific journals and they will constantly be rejected. You will always be getting knocked back and this is both painful and unpleasant. You need to learn to pick yourself up and keep moving forward, and this is impossible if you don’t enjoy what you do. In economics, the research cycle takes years from the initial ideas until the final paper is published. The only thing that can keep you going all that time is enjoying the process. Towards the end of your PhD course, you’ll learn how to keep trying new ideas, reject the boring ones and push ahead with the ones you like. You’ll also learn how to communicate well with people and get feedback on your work to improve it. You’ll learn how to present your work in a way that’s interesting to others. This is the social aspect of science you’ll be instilled with during your PhD program.

Anna Mikusheva I completely agree with Ruben, determination and a positive attitude are very important. You will be constantly reminded of this. I would also like to say that you don’t need a university degree in economics to enroll in an economics PhD program. We’re always getting students who never studied economics before their PhD, instead having a background in mathematics, computer science or physics. If you’re not an economist, it’s very important to have a solid foundation in mathematics, and an interest in economics. Be ready, a PhD program will change your attitude to life and your understanding of the world. I would say that, in general, economists are quite cynical and rational people. Maybe it’s because we understand the idea of stimuli too literally and strongly believe in the idea of the market. During the PhD program, we start thinking differently, there’s even a saying “to think like an economist.” It’s hard to describe, you just need to experience it. Even if you enter the program as a mathematician, you’ll come out as an economist.

How PhD research work is organized

Anna Mikusheva During the first years of study, students master the foundational courses that help them understand what economics is and where its frontiers lie. Then they normally start working as research assistants, helping their professors conduct research. These tasks can vary, for example, I used to check the proofs in my professors’ academic articles. I also tried to rewrite some of them more succinctly. This is how you learn to do research. It is learning by doing. Even students with a decent knowledge of mathematics write poor (hard to read and understand) proofs in econometrics when they do it for the first time. But you’ll make a huge leap forward when you write your first papers under the supervision of a professor. Some students co-author a paper with their advisers. It is very beneficial to go together through the process of writing and publishing a paper. I had this great experience and had my first paper published when I was a student. Your research supervisor keeps you sane when you get your first critical reviews, tells you how to reply to them and how to communicate with the editor. Adviser’s support is crucial in pushing you to keep working on your topic knowing that your work has been criticized. On a PhD program you’re taught grit and persistence, then you will keep learning it yourself as you go on.

Ruben Enikolopov I agree, the most useful thing a PhD course can give you is the experience of writing a paper with your advisor, as well as observing how they do research and work on an academic paper if you’re a research assistant. When students read papers that have been published, they look perfect. It seems like the author just woke up, had some coffee, came up with an ingenious idea, quickly jotted it down and voila! In fact, it’s a very long and laborious process. Frequently, you’ll start off with one idea and try to develop it, then in the process it can change or you can get completely different results to what you were expecting.

I was lucky. I wrote my first papers jointly with my research supervisor from NES and I gained invaluable experience thanks to her. If you’re a research assistant, you can ask your professor for advice on how to go about writing a paper. If you plan on continuing your work in academia, you will have to write your main piece of research, your job market paper. It’s what you need to “sell” yourself when applying for a professor’s job. You can take note of how senior students write them. Learning through doing is especially important here. You can’t write your paper using bullet points: first do this, then do that. The ability to write a research paper is something that can’t be taught, you can only learn this through experience and by example. The more cases you see, the better. There are many seminars in PhD programs where students and graduates discuss their raw ideas. Watching how these works evolve is also a very useful experience that can teach you a lot.

The career benefits of doing a PhD

Anna Mikusheva Our graduates have three paths into employment. Some of them lead to academia. They either do a post-doctorate or embark on a tenure track: they become assistant professor, associate professor and then get tenure (a permanent contract with a university) and become full professors. This is the standard academic career path.

The second direction involves working in various government agencies, such as the Central Bank, Federal Reserve, International Monetary Fund, Justice Department etc., all of which are in need of economists. There you will be able to carry out the research that underlies policy decisions.

The third type of career is working in the private sector. People normally choose investment banking or consulting. There are also more and more opportunities cropping up at tech companies like Amazon and Uber. They need economists to assess supply and demand, as well as explain how best to distribute resources.

Ruben Enikolopov Yes, in recent years powerful research centres have emerged in tech companies. People who work for the likes of Amazon and Microsoft basically become academics. Yes, they deal with issues these companies are interested in, but at the same time, they publish papers and can go back to university afterwards. Although it's normally a one-way path going from academia to the private sector, you can’t really go back. The difference between working at a university and a big tech research centre is that in the former you will teach while conducting your research. In tech companies, you will take part in applied projects, but you’ll spend a large portion of your time carrying out academic research. We can call this the fourth, niche career path. This is only possible in the top tech companies, but research departments could continue to spring up in private companies.

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More From Forbes

Navigating the american dream: a guide for international brands.

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Valter Klug, founder of Samba Rock, an ad & e-comm agency. 25 years of experience working with global brands. Let's connect on LinkedIn .

The vast landscape of the American market has always shimmered with potential and beckoned emerging brands to experience its rich diversity and opportunities. Yet, like any frontier, its complexity demands more than just ambition; it requires collective strength, strategic vision and an understanding of its intricate tapestry.

My marketing agency helps international brands expand their presence in the U.S., so I've seen firsthand that America is not just a single market. It's a world within itself—a conglomerate of multifaceted consumers with varied tastes, cultures and demands. Successful entry means understanding this diversity and translating it into strategies that resonate. This helps ensure your brand's message doesn't just speak but also sings to your target audience.

Strategic Expansion Essentials

1. market research.

This is the compass that can help your brand identify current consumer trends, competitive niches and untapped opportunities. International brands should prioritize understanding consumer demographics and psychographics to tap into specific audience needs and buying habits. I recommend analyzing the competitive landscape for potential market niches, ensuring compliance with regulatory requirements to avoid legal pitfalls and familiarizing yourself with prevalent pricing strategies and key distribution channels as well. In my experience, staying attuned to emerging industry trends better positions brands for successful U.S. market integration.

2. Cultural Adaptation

Mold your brand's voice to ensure it respects and resonates with the intricate cultural tones of the U.S. To do this, you can first monitor popular American media, ranging from TV shows and movies to podcasts and books, to gain insights into linguistic nuances, humor, values and topical issues that resonate with Americans. Second, consider localizing content through collaborations with U.S.-based content creators or influencers who naturally understand and embody these cultural subtleties. A strategy my team often recommends to clients is to conduct focus groups or surveys with diverse American audiences.

3. Innovative Frontiers

Diversity breeds innovation. A congregation of varied brand perspectives can lead to revolutionary solutions. Consider forming think tanks where you can come together with other international brands for the cross-pollination of ideas. By sharing challenges, solutions and insights specific to your individual experiences, you can uncover unique strategies that one brand alone might overlook. Joint ventures or collaborative campaigns can also amplify your collective reach and impact, thus offering a unified front that leverages the strength of diversity.

4. Direct Consumer Engagement

Establishing bonds with your customers that transcend mere transactions is a conduit to understanding the pulse of the market. Social media channels, especially Instagram, X (formerly known as Twitter) and Facebook provide avenues for real-time interactions. Your brand can host Q&A sessions, live demonstrations or virtual meetups on social media, for instance. Furthermore, consider implementing feedback loops, such as surveys or focus group discussions, to gather authentic opinions and insights.

Building Connections: Networking And Collaborations

Emerging brands often face numerous challenges, including regulatory compliance and intense competition. Building resilience and fostering innovation are essential in navigating these challenges.

Leveraging technological advancements could be a good place to start. I encourage international brands to consider investing in technology-driven solutions to help streamline operations. For example, you might find it helpful to use a cloud-based management system that allows real-time monitoring and swift decision-making across different time zones.

Optimizing operations, maintaining agility and developing a collective framework (i.e., a strategic alliance with similar or complementary brands) also enables brands to adapt to changing market scenarios and overcome obstacles efficiently. For example, an international fashion brand might collaborate with a local e-commerce platform and a logistics company. This could help ensure swift online sales and efficient distribution while sharing promotional expenses and market insights.

I believe forming strategic partnerships and alliances can amplify a brand’s reach and impact. Network with industry experts, influencers and other brands to open doors to collaborative opportunities, shared knowledge and mutual growth. Leveraging the power of collaboration can build your brand equity and expand your market presence.

The allure of the American market is undeniable, but the path is strewn with intricacies. However, I believe that when brands keep a few best practices in mind and unite to pool resources and wisdom, they don't just navigate the challenges—they redefine success. This approach is more than a strategy; it's a transformative shift where brands, small or large, journey together toward mutual milestones. And in this unity, the American dream isn't just a distant horizon but a tangible reality that's achievable and waiting to be seized.

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Marketing Research for International Brands in the Russian market

Will your product be in demand in Russia? Who are your competitors in Russia and what strategies do they use? How to persuade Russians to choose your product? The answer will prompt market research.

What will marketing research give you?

Marketing research will reduce the risks of entering the Russian market and help develop a clear strategy. The study will:

Determine the market capacity. Which regions and cities should I bet on? Is it generally beneficial to go to Russia? The research will give the right answer.

Assess the viability of ideas. Rigid competition, cultural differences, and insufficient demand for your product are just a few factors which can disrupt your plans. Research will relieve you of similar surprises and, inadvance, will allow you to estimate how much really to embody plansin life.

Keep ahead of competitors. You will find out who your competitors in Russia are (in both local and foreign companies), which products and services they offer, which strategies are developed, and which competitive advantages are strong. You will be able to collect the best practices and use them to your advantage.

Understand the "mysterious Russian soul". You will learn the specifics of buying behavior in Russia: which stereotypes and prejudices Russians have. You will understand how to attract the attention of customers and convince them to choose your product.

Identify effective channels. The study will tell you which sales channels are in Russia and which are effective for you. Which kind of communication will be effective, and what is doomed to failure.

Which Companies Will Find These Studies Useful?

Producers, working in B2B markets

Distributors, working in B2C markets

Companies which bring innovative products to to the market

What will this give you, if you are...

A business owner or CEO

Executive or commercial director

Marketer or director of marketing

You will understand the prospects and feasibility of working in Russia;
You will have a step-by-step strategy for entering the Russian market.

You will know exactly what to do for the first sales in Russia;
Your further actions will be economically justified;
You will understand how to reach out to decision-makers in your industry.

You will be able to form a destructive UTS to stand out in the Russian market;
You will have clear tactical steps and tools to attract customers;
Your further actions will be economically justified.

Our expertise is your progress in the Russian market

The RMAA Group is a marketing agency which helps foreign companies enter the Russian market. We specialize exclusively in marketing strategies and their implementation for international brands and businesses in Russia.

We have been working since 2008

During this time, the agency has gained wide experience in working with international brands, and has created unique expertise in bringing new brands to the Russian market.

More than 30 projects were implemented

Each time these projects solved non-standard and diverse tasks, helping our clients to conquer Russian markets.

We use an integrated approach

when companies are brought to the Russian market. We carry out research, develop marketing and business strategies, identify UTS, create positioning and deal with the promotion of the company in Russia.

Communicate directly , without intermediaries

Our Russian team is fluent in English, so communication is comfortable and without any loss of information.

How do we work?

To find the answers to your questions , we will thoroughly investigate the topic: we conduct interviews, analyze the activities of competitors, and examine the experience of customers.

In addition to open sources, we have a broad base of contacts throughout Russia. Thanks to this, we quickly collect private data in a short time.

We specify in the contract all the topics that will be disclosed in the study, and the timing of the interim reports.

We regularly communicate , answer your questions and correct your further actions based on your interests.

You will receive a full study for detailed study and work , as well as a shortened version, convenient for presentation to company management, investors or the board of directors.

We care about privacy and to prevent the leakage of your data, we sign a non-disclosure agreement.

Why commission a new study, if you can buy one that has already been done?

We are "honed" for the needs of each particular client and investigate the situation for specific products in Russia.

Each product is unique, for the development of the strategy we find answers to narrow, pointed questions, which, by definition, are not found in the purchased sample study.

Very well, and what to do with this research?

After completing the research , we help develop a strategy for promoting your product to the Russian market and implement it.

Conducting research

Decision making about entering Russia

Developing a strategy

Successful entry to the market

Get consultation

Case study: How to help a manufacturing company enter new regions of Russia?

About the company: Manufacturer of equipment. The name of the company is not disclosed in accordance with the agreement.

Task: The regional manufacturer planned federal expansion. To build a holistic marketing strategy, he ordered a comprehensive study from us that involved dealers, retail customers and service centers.

How did the study go?

Study of retail buyers
Investigation of dealers
Service center research
How does the customer choose the equipment?
What criteria are important to him when choosing?
What doubts and prejudices are there?
What problems and difficulties are there in operation?

We conducted in-depth interviews with customers and developed a questionnaire to confirm the reliability of the results on a large sample of buyers.

Reproduced the buyer's methods, collected feedback, understood the strengths to make emphasis in communication and how to improve products.

How is the purchase decision made?
By what criteria do the dealers evaluate the supplier?
What can a supplier do to increase sales?

We talked with the dealers to understand how they make decisions about the choice of the supplier, what arguments they are convincing and what disadvantages they see.

They collected feedback about the company, understood which criteria are important in choosing a supplier and which points of growth the company has. Found a way to simplify logistics.

What is important with the supplier?
What are the suppliers different from each other?
How do service centers make decisions about cooperation?

We interviewed the service center owners to find out how they decide to cooperate.

Determined the criteria which draw attention to the supplier pay attention. Discovered a method to reduce the cost of the process of ordering spare parts.

Our client has a clear understanding of what to focus on in communication, and how to improve products. Based on the research, we developed a marketing strategy for the client to enter new regions of Russia.
Sales representatives understood how to enter new regions, where to focus in negotiations and how to convince new dealers to cooperate with our client.
The client has a clear idea of how to simplify and reduce the cost of logistics and automate the order of spare parts, which was then implemented.

Case study: How to help an IT company develop a service that is in demand in Russia and the US?

About the company: IT-company. The name of the company is not disclosed in accordance with the agreement.

Task: IT-company develops a service-marketplace, which will test in Russia, and in the future plans to launch around the world. To create a marketing strategy and use the achievements of Western competitors, the company ordered from us a comprehensive study that captured customers and performers, which comprises the marketplace, and competitors in Russia and the United States.

Customer research
Examination of performers
Competitor research
How do customers find performers?
What are the problems encountered?
What are the prejudices against the marketplace?
What do people like and do not like when using the marketplace?

We conducted in-depth interviews with customers to understand how they cope with the search for performers, what problems they are experiencing and how they relate to the marketplace.

We understood how to build communications to evoke confidence in the service and what functionality to put in it.

How do contractors find customers?
What are the difficulties in finding customers?
What is their experience of using marketplaces?
What do customers like and what does not exist in similar services?

We talked to the performers to understand the difficulties they face when searching for customers, whether they use marketplaces and what does not suit them in existing services.

We determined which disadvantages exist for current marketplaces, what functionality is needed for the executors and what the UTS should be.

What are competitors in Russia and the US?
What business models do competitors use and what do they earn?
What advanced technology solutions do competitors use?
What are their marketing strategies?

We analyzed the largest competitors in Russia and the US, talked with experts in the industry and collected data through competitive intelligence.

We determined what difficulties the competitors face and what solutions they find. We collected advanced solutions.

Our client got a clear idea of how the customer's choice of the contractor is performed, what information about the performers is needed and what functionality the service should have.
The fears of the performers and the strategy of working with them became clear, as well as the function they needed.
The client was able to improve the business model, added a number of developments of competitors to the armament and developed a marketing strategy for promoting the service.

Russian-Speaking Influencer Marketing Overview

White Paper:

Further insights and trends in the Influencer Industry within Russia and the CIS

HOW TO SELL TO RUSSIAN LARGE COMPANIES?

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Russian Digital Market Overview

Strategic Insights into Russian Digital Marketing Landscape

How Does the Media Buying Market in Russia Work?

Navigating the Media Buying System in Russia

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RMAA has offices in two Russian cities: Moscow and Vladivostok.

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Currency Exchange International (TSE:CXI) Share Price Passes Below 50-Day Moving Average of $26.26

Currency Exchange International, Corp. ( TSE:CXI - Get Free Report ) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$26.26 and traded as low as C$25.60. Currency Exchange International shares last traded at C$25.60, with a volume of 1,100 shares.

Currency Exchange International Trading Down 0.0 %

The firm's 50 day moving average price is C$26.23 and its 200-day moving average price is C$25.46. The stock has a market cap of C$165.12 million, a P/E ratio of 13.26 and a beta of 0.80. The company has a debt-to-equity ratio of 8.70, a current ratio of 2.45 and a quick ratio of 1.62.

Currency Exchange International ( TSE:CXI - Get Free Report ) last issued its earnings results on Wednesday, June 12th. The company reported C$0.39 earnings per share (EPS) for the quarter. The firm had revenue of C$27.26 million for the quarter. Currency Exchange International had a net margin of 11.37% and a return on equity of 12.44%. As a group, equities research analysts forecast that Currency Exchange International, Corp. will post 2.7739583 earnings per share for the current year.

Currency Exchange International Company Profile

Should you invest $1,000 in Currency Exchange International right now?

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Is VanEck Morningstar SMID Moat ETF (SMOT) a Strong ETF Right Now?

Making its debut on 10/04/2022, smart beta exchange traded fund VanEck Morningstar SMID Moat ETF ( SMOT Quick Quote SMOT - Free Report ) provides investors broad exposure to the Style Box - All Cap Blend category of the market.

What Are Smart Beta ETFs?

The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.

Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.

But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.

Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.

Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.

Fund Sponsor & Index

The fund is managed by Van Eck. SMOT has been able to amass assets over $338.56 million, making it one of the average sized ETFs in the Style Box - All Cap Blend. Before fees and expenses, SMOT seeks to match the performance of the MORNINGSTAR US SML-MID CAP MOAT FOCUS ID.

The Morningstar US Small-Mid Cap Moat Focus Index tracks the overall performance of small and mid-cap companies with sustainable competitive advantages and attractive valuations.

Cost & Other Expenses

Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.

With on par with most peer products in the space, this ETF has annual operating expenses of 0.49%.

SMOT's 12-month trailing dividend yield is 0.65%.

Sector Exposure and Top Holdings

It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation in the Consumer Discretionary sector - about 22% of the portfolio. Industrials and Information Technology round out the top three.

Looking at individual holdings, Dupont De Nemours Inc ( DD Quick Quote DD - Free Report ) accounts for about 1.45% of total assets, followed by Discover Financial Services ( DFS Quick Quote DFS - Free Report ) and Nisource Inc ( NI Quick Quote NI - Free Report ) .

Its top 10 holdings account for approximately 14.08% of SMOT's total assets under management.

Performance and Risk

The ETF has added about 0.63% so far this year and is up about 6.85% in the last one year (as of 08/13/2024). In the past 52-week period, it has traded between $25.84 and $34.11.

SMOT has a beta of 1.27 and standard deviation of 18.22% for the trailing three-year period. With about 114 holdings, it effectively diversifies company-specific risk.

Alternatives

VanEck Morningstar SMID Moat ETF is a reasonable option for investors seeking to outperform the Style Box - All Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.

IShares Core S&P Total U.S. Stock Market ETF ( ITOT Quick Quote ITOT - Free Report ) tracks S&P Total Market Index and the Vanguard Total Stock Market ETF ( VTI Quick Quote VTI - Free Report ) tracks CRSP US Total Market Index. IShares Core S&P Total U.S. Stock Market ETF has $56.87 billion in assets, Vanguard Total Stock Market ETF has $403.33 billion. ITOT has an expense ratio of 0.03% and VTI charges 0.03%.

Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - All Cap Blend.

Bottom Line

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The overarching role of international marketing: Relevance and centrality in research and practice

Published: 18 May 2021
Volume 52 , pages 1429–1444, ( 2021 )

Cite this article

Saeed Samiee 1 ,
Constantine S. Katsikeas 2 &
G. Tomas M. Hult 3

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9 Citations

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Classic business literature asserts the central role of marketing as foundational to the existence of organizations, and further notes that marketing must permeate all areas of a business enterprise. Leveraging this premise, we examine marketing scholars’ contributions to the international business (IB) literature – specifically notable works in exporting and market entry. Despite the overarching role of marketing in business, our systematic examination of published works in JIBS identified only 11 marketing contributions among the top 100 most frequently cited publications. More recent Web of Science data for the most cited contributions since 2015 demonstrate a decline in the number of international marketing (IM) and IB-related contributions by marketing scholars. Our goal in this editorial is to re-emphasize marketing’s critical importance and centrality in IB research, especially with reference to its dominant role in such areas as exporting and market entry decisions, customer acquisition, and relationship management. This special issue is intended to highlight IM and to motivate more contributions by IM scholars, as well as to call for greater integration of marketing thought in IB research.

La littérature classique en management affirme le rôle central du marketing comme fondement de l'existence des organisations, et souligne en outre que le marketing doit imprégner tous les domaines d'une entreprise. Nous appuyant sur cette prémisse, nous examinons les contributions des chercheurs en marketing à la littérature du commerce international (IB – International Business ), plus spécifiquement, les travaux importants portés sur l’exportation et l’entrée sur les marchés. Malgré le rôle fondamental du marketing dans les affaires, notre examen systématique des travaux publiés dans la revue JIBS n'a identifié que 11 contributions liées au marketing parmi les 100 publications les plus fréquemment citées. Les données plus récentes sur le Web of Science liées aux contributions les plus citées depuis 2015 montrent une baisse du nombre de contributions relatives au marketing international (IM – International Marketing ) et au IB par les chercheurs en marketing. Dans cet éditorial, notre objectif est de souligner à nouveau l’importance critique et la centralité du marketing dans la recherche en IB, notamment par rapport à son rôle dominant dans les domaines tels que les décisions d’exportation et d’entrée sur les marchés, l’acquisition de clients et la gestion des relations. Ce numéro spécial a pour but de mettre en valeur le IM, de stimuler davantage de contributions de la part des chercheurs en IM, ainsi que d'appeler à une plus grande intégration de la pensée marketing dans la recherche en IB.

La literatura empresarial clásica reivindica el papel del marketing como primordial a la existencia de las organizaciones y además nota que el marketing debe permear todas las áreas de una empresa. Apalancándonos en esta premisa, examinamos las contribuciones de los académicos de marketing a la literatura de negocios internacionales – específicamente los trabajos más destacados sobre la exportación y la entrada del mercado. A pesar del papel global del marketing en los negocios, nuestro examen sistemático de los trabajos publicados en JIBS identificamos sólo 11 contribuciones de marketing entre las 100 publicaciones más citadas. Los datos más recientes de Web of Science de las contribuciones más citadas desde el 2015 demuestran una disminución en el numero de contribuciones relacionadas con marketing y negocios internacionales por parte de los estudiosos de marketing. Nuestra meta con este editorial es hacer hincapié a importancia fundamental del marketing y su centralidad en la investigación de negocios internacionales, especialmente con referencia a su papel dominante en áreas como la exportación y las decisiones de entrada al mercado, la adquisición de clientes y la gestión de relaciones. Esta edición especial busca resaltar el marketing internacional y motivar más contribuciones de académicos de marketing internacional, y también hacer un llamado a una mayor integración del pensamiento de marketing en la investigación de negocios internacionales.

A literatura clássica de negócios afirma o papel central do marketing como fundamental para a existência de organizações e, além disso, observa que o marketing deve permear todas as áreas de uma empresa. Aproveitando essa premissa, examinamos contribuições dos acadêmicos de marketing para a literatura de negócios internacionais (IB), especificamente trabalhos notáveis em exportação e entrada no mercado. Apesar do papel abrangente do marketing nos negócios, nosso exame sistemático de trabalhos publicados no JIBS identificou apenas 11 contribuições de marketing entre as 100 publicações mais citadas. Dados mais recentes da Web of Science para as contribuições mais citadas desde 2015 demonstram um declínio no número de contribuições de marketing internacional (IM) e relacionadas a IB por acadêmicos de marketing. Nosso objetivo neste editorial é reenfatizar a importância crítica e centralidade do marketing na pesquisa em IB, especialmente com referência ao seu papel dominante em áreas como exportação e decisões de entrada no mercado, aquisição de clientes e gerenciamento de relacionamento. Esta edição especial tem como objetivo destacar o IM e motivar mais contribuições de acadêmicos de IM, bem como pedir uma maior integração do pensamento de marketing na pesquisa de IB.

经典的商业文献断言市场营销对组织存在有着基础的中心的作用, 并进一步指出, 市场营销必须渗透到商业企业的所有领域。利用这一前提, 我们研究了市场营销学者对国际商务 (IB) 文献的贡献, 特别是在出口和市场准入方面的著名作品。尽管市场营销在商业中起着举足轻重的作用, 我们对JIBS发表的作品的系统检查发现, 在最常被引用的前100篇文章中只有11篇是市场营销的贡献。最新的Web of Science数据 (自2015年以来被引用最多的数据) 表明, 市场营销学者对国际市场营销 (IM) 和与IB相关的贡献数量有所下降。我们这篇社论的目标是重新强调市场营销在IB研究中的至关重要性和中心地位, 尤其是参考市场营销在出口和进入市场决策、客户获取以及关系管理等领域的主导作用。本期专刊旨在突出IM和激发IM学者做出更多的贡献, 并呼吁将市场营销思想与IB研究有更大的整合。

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INTRODUCTION

Marketing is the raison d’etre and the force that drives organizations. Among the many axioms advanced by Peter Drucker, the father of modern management, are that the purpose of a business is “to create customers”, and that an organization has only two functions: one role relates to marketing (i.e., innovation) and the other is marketing (Drucker, 1954 , p. 37; Trout, 2006 ; Webster, 2009 ). Drucker further observed that only innovation and marketing produce results (i.e., revenue streams); the rest are costs (Cohen, 2013 ). Product innovation is a key marketing strategy component and an important means of creating and keeping customers, and, hence, a central element of a successful competitive strategy. This marketing-based view is also shared by other management thought leaders. Ted Levitt ( 2006 , p. 129), for example, notes that “the entire corporation must be viewed as a customer-creating and customer-satisfying organism.”

The “marketing-based” position held by seasoned management opinion leaders underscores the “overarching” role and centrality of marketing as a philosophy that should drive virtually all organizations. In fact, McKenna ( 1991 ) takes this notion even further by claiming “…successful companies are becoming market driven, adapting their products to fit their customers’ strategies” (p. 66). Adopting market orientation and becoming a market-driven organization, in turn, require marketing to “permeate” all aspects of organizational decision-making, inclusive of international business activities, before a product is produced or externally sourced. Parenthetically, since marketing represents the interface of all businesses with their customers, it should be expected to play a central role in published academic works in business, including international business (IB) – the focus of attention in this editorial.

Many studies have examined research themes covered in IB journals. One such effort surveyed academic publications in the six leading IB-related journals, and identified and classified 112 articles with at least 20 citations each for the 1996–2006 period (Griffith, Cavusgil, & Xu, 2008 ). Collectively, with over 22% of the most-cited publications, marketing was identified as having the largest number of publications. 1 In keeping with business thought leaders’ position on the purpose of an enterprise, one would expect a higher proportion of (1) internationally oriented marketing topics and/or (2) published works on other topics, such as IB, that actively include marketing in some meaningful way. Surprisingly, much of the published research in IB excludes marketing considerations. As an example, in examining foreign market entry and expansion modes [e.g., foreign direct investment (FDI)], the ultimate goal – beyond the theoretical lens in use, efficiencies, drivers, order of market entry, and resultant models and theories – is to gain or create new customers and/or better serve current customers in markets worldwide. Such an approach constitutes a marketing-centric view of FDI.

The IB literature has demonstrated that firms engaging in FDI invest more in research and development (R&D) and innovation (e.g., Anand & Kogut, 1997 ); however, the IB literature is not explicit about why firms invest in innovation in the first place. 2 A marketing-centric view (e.g., Ellis, 2000 ; Knight & Cavusgil, 2004 ; Leonidou & Katsikeas, 1996 ) does not imply a necessity to include marketing in every (e.g., market entry) project. Rather, it consists of a researcher mindset that conceives of and fine-tunes research projects in light of the ultimate purpose of an organization (per Drucker, Levitt, and McKenna) when marketing is not an explicit aspect of the study. The business worldview from within the marketing discipline is that marketing permeates the entire organization (including innovation). IB scholars recognize the integrated nature of marketing across various firm activities in specific sectors (e.g., in the services industry per Rugman & Verbeke, 2008 , p. 409), however, creating and serving customers necessitate the broadening of this perspective across all industries, as predicated in marketing. Stated differently, framing marketing as a single value chain function, or adopting a strictly downstream view of it inhibits richer and more meaningful customer-centric, as well as increasingly more realistic conceptualizations of critical activities and decisions in IB (cf. Takeuchi & Porter, 1986 ). Among other downsides, the narrow conceptualization of marketing functions as downstream activities in the value chain undermines marketing’s true role and influence in shaping strategy formulation. Global strategy decisions envisioned and designed by the C-suite inherently involve a very significant level of marketing content, without which a sound global strategy is not possible.

Concurrently, Buckley ( 2002a ) voices concern that international marketing (IM) has neglected the proximal issue of globalization in studies of IM strategy. This concern is in line with the broader criticism that IM has also largely abandoned strategy issues (Kotabe, 2001 ). Indeed, the marketing discipline can be criticized for failing to fully embrace the influences of international and global dimensions across the many critical strategy pillars inherently thought of as marketing’s intellectual domain. An examination of research priorities published by the influential Marketing Science Institute (MSI) demonstrates the discipline’s relative inactive posture in IM/IB. In all, the 2020–2022 MSI Research Priorities report includes four internationally oriented topics among 126 research questions listed. 3 It is thus not too surprising that IM scholars have paid only scant attention to research opportunities at the intersection of IM strategy and globalization, which, in turn, has limited our understanding of the crucial role that marketing plays in establishing, developing, and sustaining effective business operations across markets worldwide. In parallel, we assert that investigations of globalization should also include marketing strategy considerations.

IM CONTRIBUTIONS TO JIBS

To develop a better understanding of the contributions of marketing scholarship to the IB literature and, more specifically, to the Journal of International Business Studies ( JIBS ), we examined all highly cited articles published in JIBS since the journal’s inception. We rank-ordered all articles by their total citation frequencies using the Web of Science (WOS) database. We identified 11 marketing articles on topics generally considered to belong to the marketing domain among the top 100 most-cited JIBS publications (Table 1 ). 4 We further observed that scholars with marketing ties have also made highly cited general IB contributions to the literature. Overall, it is evident that marketing scholars have made significant contributions in JIBS to the extant IM and IB knowledge. However, it is also apparent that the most highly cited IM publications in JIBS were published in the 1982–2002 period. This pattern raises a question about the relative impact of IM, as measured by WOS citation frequencies, in JIBS published works. We thus examined the most-cited JIBS publications since 2015 (Table 2 ). The data indicate that, in contrast to pre-2015, fewer marketing studies have been among the top 100 most-cited articles published in JIBS as of late. In addition, fewer contributions on broader IB topics are by authors with close marketing ties.

Despite the centrality and importance of marketing in business, the influence of IM scholars and IM publications in the broader IB discipline via the field’s leading journal has been on the decline. The marketing theme of this special issue of JIBS builds on business and management thought leaders’ (e.g., Drucker, Levitt) view regarding the purpose of a business enterprise; that is, we start with the premise of the critical importance of marketing to all facets of business and leverage broad-based agreement about the declining role of marketing in IB research as well as broader IB contributions by marketing scholars in JIBS . Our overarching objective in this issue is to motivate relevant and rigorous research that advances IM and, in turn, IB thought on an ongoing basis, beyond the confines of this special issue. If one subscribes to Drucker’s vision about the purpose of a business, then IM should be better integrated into and represented within IB publications, notably within JIBS , the leading and most highly cited journal in IB. To this end, our goals in this essay are to (1) highlight the role of IM within IB, (2) detail the many critical roles of marketing in today’s business enterprise, and (3) introduce the marketing contributions in this special issue.

THE ROLE OF IM WITHIN IB OVER TIME

Beyond Drucker’s view of the purpose of a business, IB at its core is inherently intertwined with marketing. For centuries, individuals and firms have sought to expand sales through exporting, which constitutes the most common foreign market entry and international expansion mode; for many firms, therefore, export marketing has defined IB. Indeed, all exporting is strictly rooted in marketing (see, for example, Anderson & Gatignon, 1986 ). 5 This view is implied in the broader perspective of export development, which emphasizes internal and external triggers to exporting (cf. Cavusgil & Nevin, 1980 ; Wiedersheim-Paul, Welch, & Olson, 1978 ), both of which are export marketing centered. Some scholars view all international market entry forms as essentially marketing driven (e.g., Douglas & Craig, 1989 ). Indeed, many early contributors to foreign market entry and the export development process are closely associated with the marketing discipline (e.g., Bilkey & Tesar, 1977 ; Cavusgil, 1980 ; Czinkota, & Johnston, 1981 ; Katsikeas, 1996 ; Samiee & Walters, 1991 ). Over time, some firms continue to reap the benefits of increased sales and profits via export marketing, whereas others, recognizing the broader and longer-term potential of global markets, have sought to establish different forms of engagement in markets abroad. For example, international leasing and licensing (i.e., limited-term rental contract of an asset) as means of foreign market entry or expansion constitute marketing activities, but they are often viewed as activities related to, for example, market expansion and operational strategy (e.g., Contractor, 1985 ; Ricks & Samiee, 1974 ). It may be that the role and critical importance of IM is widely recognized by IB scholars. However, making marketing’s presence more explicit in IB research can result in framing issues such that corresponding research findings will yield greater marketplace and marketing relevance, in line with Drucker’s and Levitt’s views on the purpose of business. In short, regardless of entry mode or a firm’s structural configuration, market expansion and increased sales via (in)direct marketing internationally is central to IB. Such a view highlights the centrality and critical role of IM activities, while emphasizing the significance of IM contributions to the broader IB field.

Interest in and focus on scholarly research in IM began to intensify during the 1980s, and empirical investigations of IM problems and challenges facing firms have received heightened research attention for decades. Initial scholarly research in IM was limited, though there is noteworthy work on export market entry triggers as well as motivations and explanations for internationalization decisions (Ford & Leonidou, 2013 ). Since this early research, IM scholars have amassed a growing, multifaceted, and well-developed body of knowledge. Despite these advances, however, the growing importance and relevance of IM remains underappreciated and understudied (Day, 1996 ). As an unfortunate outcome of this, IM topics in the top IB journals are sparse (cf. Griffith et al., 2008 ), and a current survey of several leading marketing and IB journals reveals a relative paucity of scholarly work on IM issues. 6 Given IM’s centrality to all enterprises, the primary purpose of this special issue is to reinforce IM’s broad-based importance, with a particular focus on IM in the broader IB context.

RESEARCH IN IM

A recent survey of the IM literature published in the top six IB/IM journals during the 1995–2015 period identified 1,722 published works (Leonidou, Katsikeas, Samiee, & Aykol, 2017 ). The knowledge structure on which this body of scholarly work indicates that many of the developments in IM thought are driven by 14 key knowledge nodes identified in Samiee and Chabowski ( 2012 ). 7 It is evident from the results of the investigation by Samiee and Chabowski ( 2012 ) that, in terms of knowledge base, IM has much in common with IB. A relatively high proportion (approximately 40%) of key sources used in IM research are also commonly cited in IB research, including Hofstede ( 1980 , 1991 , 2001 ), Porter ( 1980 , 1985 , 1990 ), Williamson ( 1975 , 1985 ), Buckley and Casson ( 1976 ), Bartlett and Ghoshal ( 1989 ), Nelson and Winter ( 1982 ), Penrose ( 1959 ), and Pfeffer and Salancik ( 1978 ). Of the 26 most influential works in IM, serving as foundational knowledge for the 2004–2008 period, the majority (18) were published in outlets not specifically designated as marketing-related (Samiee & Chabowski, 2012 ), thus demonstrating IM’s shared knowledge and close relationship to IB. Key IM knowledge nodes serving as the foundation of IM scholarship during this period appear in Table 3 .

IM research has evolved across numerous themes, with some areas receiving disproportionate scholarly attention over time (Leonidou et al., 2017 ). Foreign market entry and export marketing are among the oldest topics of interest for IM researchers, and these remain relevant and important. Collectively, origin-related research topics likely constitute the most popular IM theme among IM researchers and potentially the most researched area, with hundreds of publications (e.g., Kotabe, 2001 ; Papadopoulos, el Banna, Murphy, & Rojas-Méndez, 2011 ; Samiee & Chabowski, 2021 ). 8 Origin-related research – or more specifically, the country-of-origin line of research within IM – can be traced back broadly to Dichter ( 1962 ) and, more specifically, to Schooler ( 1965 ). Although the concept was applied strictly to customer product choice, it can and has been applied to other facets of IB (e.g., liability of foreignness). Beyond marketing, explicit recognition of business problems associated with nonlocal origins of firms began to emerge in the IB literature in the 1970s. For example, Buckley and Casson ( 1976 ) refer to the political problems of “foreignness,” and Boddewyn and Hansen ( 1977 , p. 550) note that “American companies were faced with handicaps due to their foreignness.” Although IB challenges related to nonlocal origins of products and firms seem intuitive, international marketers’ close proximity to markets and customers afforded them the opportunity to recognize the issue much earlier than appears to have been the case in the broader IB discipline. We highlight this issue to point to how IM and IB can and should leverage each other for a more comprehensive analysis and rapid advancement of the field.

RESEARCH OPPORTUNITIES GOING FORWARD

Much of the intellectual capital in IM works has been devoted to various aspects of buyer behavior (Kotabe, 2001 ; Leonidou et al., 2017 ). This trend is not surprising given that, in general, a large majority of MSI research priorities ( 2020 ) are focused on customer-related issues (including three of the four internationally oriented themes out of the 126 research questions posed). Among international themes, one research question pertains to gaining global perspectives on prioritizing customer value at all touchpoints during the omnichannel customer experience; another theme seeks to understand whether customer behavior is the same or different in emerging markets; and a third issue addresses ways in which firms might integrate consumer-focused strategies globally. A sharp focus on the buyer and, more specifically, the consumer and his/her behavior highlights an ongoing emphasis on behavioral issues within marketing at the expense of advancing other equally salient issues in need of development. As a result, some important IM research areas are not receiving sufficient scholarly attention. To this end, 25 years ago, Day ( 1996 , p. 15) noted that “studies of cross-cultural differences in buyer behavior or the effect of country of origin do not suffice when the big issues needing answers are about global competitive interactions, global new product development and launch practices, sharing of market insights across borders, or the coordination and integration of multicountry operations.” An overemphasis on the buyer behavior aspects of IM, frequently via experiments, has indeed curbed scholarly efforts to advance IM and the exploration of “big issues”: for example, the short- and long-term effects of radical shifts in the external environment and competitive structures on various aspects of marketing strategy, notably, global supply chain management, innovation, and global product development activities, among others. In general, innovation can be related to and affect any facet of an enterprise’s operations (e.g., processes). The key innovation concern within marketing has centered on product breakthroughs and service delivery, as well as how firms can adapt to a changing landscape often marked by disruptive technological developments. Nevertheless, studies of global innovation or R&D can benefit from cross-fertilization, with significant advances in this area within marketing.

Despite the decades-long practice of international outsourcing by firms, few IM researchers have explored this critical area (e.g., Kotabe & Murray, 1990 ; Swamidass & Kotabe, 1993 ). As a result, scant research is available within this important area to shed light on IM practices [e.g., innovate vs. import (buy) new products; make vs. buy] that can facilitate enhanced IM performance. To this end, a fourth research priority identified by MSI ( 2020 ) is the global supply chain impact of the pandemic (p. 11). Sourcing considerations, such as exporting and importing, are by nature customer-centric and marketing-based. Nevertheless, much of the research in the area is conducted within other disciplines (Buckley, Doh, & Benischke, 2017 ). The importance of a focus on the bigger picture, including the organization, human capital, capabilities, innovation, and metrics, has been stressed in marketing (Moorman & Day, 2016 ). Behavioral components should continue to play important roles in advancing marketing (and IM); however, these topics need to be examined within the context of organizational priorities and not strictly limited to consumer-based studies.

Given the commonality of direct and indirect international involvement across firms and industries, a host of new and exciting challenges related to customers, suppliers, and relationship management are raised. Today’s global marketplace is characterized by disruptive external forces, intense competition from a multitude of foreign and indigenous companies, and heterogeneous customer behavior shaped by differences across a range of host-market conditions, notably culture. Technological advances create marketplace opportunities and novel business models and segments (e.g., social media, collaborative consumption/shared economy, product cocreation), while undermining long-established global brands, product/service markets, and business patterns and processes on a global scale. For example, local and international ride-hailing services such as Ola and Uber competing with long established global car rental firms; collaboratively developed HD DVD losing the industry-wide format war to the technologically more advanced Blu-ray by Sony shortly after its debut which, in turn, lost popularity as the market shifted to streaming services; photorefractive keratectomy developed in the U.S. essentially undermined the Russian-born radial keratectomy; and MP3/FLAC and streaming services largely replaced tangible music CDs developed through an R&D joint venture between Philips and Sony. Concurrently, new technologies are promoting new forms of interaction for businesses and customers that transcend national boundaries (e.g., social media; short message service-SMS; online reviews; using proprietary consumer data via artificial intelligence activated voice recognition to drive host-market demand, as is the case with Amazon’s Alexa or Google Assistant). Concurrently, innovative breakthroughs and rapid dissemination of information have given rise to intellectual property theft on a global scale, undermining marketing strategies, global brands, and distribution network relationships and their management, while requiring all firms to canvass markets globally to identify potential abuses and to assert control over their intellectual property. 9

Although the Internet and information technology (IT) continue to have a significant influence on customers and businesses (e.g., exporters, importers, concept-testing, global marketing strategy planning), a citations-based review of the IM literature revealed that IT-related topics did not constitute a knowledge base in IM (Samiee & Chabowski, 2012 ). This finding was corroborated by Leonidou et al. ( 2017 ), who noted that less 4% of IM-related academic articles reviewed included various facets of Internet connectivity. In addition, a literature review of 29 academic journals addressing the Internet’s impact on relational approaches to foreign market entry identified only 94 published articles, constituting approximately 3% of all the articles reviewed (Watson, Weaven, Perkins, Sardana, & Palmatier, 2018 ). IT has transformed how firms enter and manage markets globally to varying degrees in ways that are often not self-evident. In addition, IT's ubiquity and intangible nature make its detection and true impact on IM difficult, thus leading to a growing knowledge gap. The paucity of IT-motivated IM research uncovered by these reviews demonstrate the need to incorporate various facets of IT in more IM projects, including initial online export/import information gathering, marketing research, market entry and development, and export customer acquisition by both manufacturers and channel intermediaries. Furthermore, a research focus on cross-border e-commerce, especially as a means of internationalizing the scope of smaller firms’ marketing, is underdeveloped. It is surprising that, while origin-related buyer behavior topics remain popular, almost no effort has been made to explore how origin affects choice in online and, in particular, international e-commerce contexts (e.g., Ulgado, 2002 ). Buckley ( 2002a ) rightfully identified e-commerce as a frontier in IM research nearly two decades ago. Firms allocate significant amounts of financial resources to adopt promising technologies to improve their marketing performance, yet little research has been devoted to assessing the performance impact of digital tools (e.g., customer relationship management software) in terms of establishing new cross-border relationships or maintaining existing ones. Although IM has generally ignored such impactful areas of research as the influence of the Internet in global marketing, the IB literature, and more specifically international management, has also been shortsighted with respect to its limited pursuit of pertinent Internet-related research topics (e.g., international human resource management, global strategy development, management of global collaborative ventures and partnerships) (Chabowski & Samiee, 2020 ).

Social media influence both the demand and the supply side of exchange. On the supply side, firms are engaging people by allowing them to participate in cocreation and product development processes. Enterprises are increasingly engaging the public in idea generation via social media (e.g., Dell IdeaStorm, LEGO World Builder), new product development, and start-up capital (e.g., Quirky, Kickstarter). The degree to which firms engage social media audiences internationally (including both global and local social media sites) for one or more aspects of cocreation, and the influence of such activity on multinational corporations’ competitiveness across markets, remain unexplored. Examining the extent to which customers from around the world participate in knowledge development processes and help firms improve their existing products and/or create innovative ones also remains a fertile research area (Bayus, 2013 ; Prahalad & Ramaswamy, 2004 ).

Equally important research issues on the demand side also warrant research attention. For example, customers located in distant parts of the world use social media, but the impact of such engagement, and the positive or negative ripple effect it creates in or across social networks with respect to local and global brands, has received insufficient research attention (McAlexander, Schouten, & Koenig, 2002 ). Furthermore, the extent to which various customer segments rely on and ways in which they use social media across markets remain unexplored. This knowledge void, in turn, impacts the development of effective international cocreation strategies on the supply side. Relatedly, the global ubiquity of the Internet and social networks has made these media a major target for cybercriminals. Regular revelations of firm and customer data breaches are bound to have a consequential impact, not only on firm image and the customer engagement process, scope, and depth but also on demands for greater privacy and protection by customers and governments. Thus, IM research should explore the impact of, for example, cross-national privacy regulations on the efficacy of relationship development and management as well as online marketing processes.

Globalization has transformed the way business relationships are formed, managed, and evaluated, and customer engagement is likely to play a prominent role in business-to-business contexts. Business relationships are complex, interpersonal, and interdependent, and relationship marketing efforts can make a difference in promoting common goals and facilitating joint activities that create value for both partners; value that each company could not achieve outside the relationship or with other partners (Palmatier, 2008 ). In an international context, companies need to manage their cross-border relationships more skillfully to address geographic separation, cultural distance, administrative (e.g., currencies, legal jurisdictions) and economic (Katsikeas, Samiee, & Theodosiou, 2006 ; Leonidou, Samiee, Aykol, & Talias, 2014 ; Samiee, Chabowski, & Hult, 2015 ) differences between local and foreign markets, and increased levels of risk and uncertainty inherent in international operations (Johanson & Vahlne, 2009 ; Katsikeas, Skarmeas, & Bello, 2009 ). How does the international environment affect the activities, strategies, structures, and decision-making processes of companies with respect to their business relationships? How can companies manage their overseas business relationships as value-bearing assets? Are cross-border business relationships part of a value-creating network that delivers superior value to the end customer? What is the role of international relationship building and management in overcoming the liability of foreignness? Likewise, the roles of overseas business partners (e.g., distributors, suppliers) in knowledge development, innovation, and goal achievement are relevant and important areas that require research attention.

The fit between IM strategy and international relationships also deserves ongoing research attention. How can companies ensure that their different suppliers and partners abroad are well-aligned with their IM strategy? Strategy standardization offers significant economies of scale in value-adding activities (e.g., R&D, production, marketing), facilitates the development of a consistent corporate/brand image across countries, enhances coordination and control of international operations, and reduces operational and managerial complexity, whereas adaptation is based on the premise that variations between countries necessitate adjustment of the marketing strategy to the idiosyncrasies of each local market. The contingency approach suggests that the appropriateness of the selected IM strategy – typically positioned between the two standardization–adaptation extremes – should be evaluated based on its alignment, or fit, with dominant factors in the international environment, as fit facilitates enhanced performance outcomes (Katsikeas et al., 2006 ). Despite long-standing traditions in these areas, sensemaking in some overarching topics is needed. For example, the pursuit of a market orientation strategy demands sensitivity to local market conditions and IM strategy adaptation. Given the importance of market orientation for many firms, there is a need to better understand how market orientation influences IM strategy. On the one hand, market and customer orientation demand more localized or adapted IM strategies. On the other hand, a high degree of IM strategy standardization seemingly impedes a high degree of market orientation. How do firms reconcile their IM strategy and market orientation efforts? Moreover, how do customer relationships in particular and business relationships in general interact with the perennial issue of adaptation or standardization of IM strategy? Do overseas business relationships help the company determine which specific strategic elements are feasible or desirable to standardize or adapt? If so, under what conditions, and to what degree? To what extent is cocreation possible and appropriate under each IM strategy scenario?

In addition, the assessment of performance in international market operations is an issue that requires particular attention in the IM literature. The relevance and importance of IM resources, strategies, and actions is reflected in the extent to which these favorably influence firm performance outcomes achieved via international market operations and, in turn, contribute to organizational performance. However, there are a large number and wide diversity of IM performance measures employed in the literature, which makes the development of a coherent cumulative body of knowledge in the field particularly challenging (Katsikeas, Morgan, Leonidou, & Hult, 2016 ). Scant attention has been given in IM as to how performance should be conceptualized and operationalized, and studies commonly do not provide a definition or any justification for the assessment of performance that is adopted and for the specific measures used in the context of foreign market operations (Katsikeas, Leonidou, & Morgan, 2000 ; Leonidou, Katsikeas, & Samiee, 2002 ). Given that performance is inherently a multidimensional construct, it is essential that IM researchers be selective in choosing specific performance dimensions, and justify their choice on the basis of some theory-based logic, conceptual framing, and/or for pragmatic reasons. Performance assessment in international market operations should be in line with the theoretical perspective(s) adopted in the study. For example, empirical research grounded in the resource-based view and/or the dynamic capabilities perspective, which underpins much of the strategy-related and competitive advantage work in IM, requires a competitor-centered assessment of performance outcomes; that is, individual performance aspects and items need to be assessed in relation to competition in the foreign market targeted by the firm’s IM strategy (see Katsikeas et al., 2016 ).

CONTRIBUTIONS TO THE SPECIAL ISSUE

The call for papers for this special issue has been received with much enthusiasm, as demonstrated by the large number of submissions covering a wide range of IM topics. Accordingly, manuscripts accepted for inclusion in this issue represent the diversity of submissions, with each making a unique contribution to the IM body of knowledge. The first article focuses on the sharing economy (SE), which is a timely and important issue that influences business operations across industries worldwide. Kozlenkova, Lee, Xiang, and Palmatier’s meta-analytic effort examines the effects of value-based (i.e., utilitarian, social, hedonic, and sustainability value) and governance-based (i.e., trust) factors on SE participation and investigates their relative effectiveness under different global contingencies (i.e., economic/competitive, cultural, societal, technological, regulatory, and demographic factors). Based on 55 empirical articles, with 60 independent samples from 15 countries, representing 123 correlations across 26,377 customers during the 2009–2019 period, the findings suggest that hedonic value exerts the largest effect on SE participation, followed by trust and utilitarian value, while social value and sustainability have the smallest effects. The analysis reveals a complex pattern of global contingency effects that firms should consider when advancing their entry strategies, formulating governance mechanisms, and evaluating promising markets. Kozlenkova et al. integrate their key insights into three tenets, reflecting the most important and surprising findings. These tenets are grounded in the vitally important roles of inequality, the hierarchy of needs, and governance mechanisms that can serve as a platform for establishing an emerging perspective of global SE participation.

Marketing metrics represent another critically important topic that has received little research attention in IM or IB. Sound managerial decisions and marketing strategy are based on quantitative measures, including outcomes (Moorman & Day, 2016 ). In their contribution to this special issue, Mintz, Currim, Steenkamp, and de Jong focus on metric use in marketing decisions across 16 countries, using a cultural perspective. The authors leverage a rich dataset containing more than 4,300 marketing decisions in more than 1,600 firms across 16 countries. Respondents chose from 24 general metrics pertinent to marketing (12) and financial (12) decisions, plus 6 metrics specific to each of 10 marketing mix decisions. The findings indicate that, for all markets combined, an average of 9 metrics are used per marketing decision. With nearly 12 metrics per decision, South Korean managers use the highest number of metrics, while Japanese managers use the fewest, with approximately 4 metrics per marketing decision. China and India, each with approximately 11 metrics, are close to Korea and are heavy users of marketing metrics, whereas France and the United States, with nearly 6 and 7, respectively, are moderate users of metrics in decision-making. Importantly, satisfaction, awareness, and return on investment are the three most commonly used metrics across markets. In addition, the study finds that metric use is affected by both firm and country culture.

Business-to-business (B2B) electronic platforms (e-platforms) play a critical role in helping exporting firms reach, serve, and penetrate foreign markets. However, the IB literature is unclear about how and under what conditions firms can use B2B e-platforms to boost their export performance outcomes. Drawing on signaling theory, Jean, Kim, Zhou, and Cavusgil propose and empirically test a model that investigates how exporters’ e-platform use affects export sales performance by boosting foreign market contact (i.e., quotations from foreign buyers) and how the institutional environment and export growth strategies influence the e-platform use–foreign market contact link. Using survey and archival lagged data on a sample of 205 exporters that subscribe to Alibaba.com, the authors reveal that e-platform use enhances foreign buyer contact and, in turn, export sales performance. The findings also suggest that the positive impact of e-platform use among exporters is further boosted when they come from regions that have less-developed market intermediaries or under conditions of high institutional distance between the home and host countries. The study also demonstrates that the effect of e-platform use on a foreign buyer contact becomes weaker under conditions of high export market diversification or high product diversification.

Platform-based mobile payments have experienced significant growth worldwide in recent years, partly because they offer unique value for both customers and companies over other digital payment methods. Kumar, Nim, and Agarwal note, however, that patterns of such payment adoption grow differently across countries, with some emerging countries (e.g., China) outperforming developed ones. The authors propose a conceptual model of mobile payment adoption, and develop hypotheses using explanations from the literature on network effects and institutional theory. Based on data collected across 30 countries (17 developed and 13 emerging), the study confirms the existence of network effects and differential influences of perceived value, inertia, and cultural factors on the mobile payment adoption of innovators and imitators. The presence of significant heterogeneity both within and between countries regarding the adoption of mobile payments, which offers additional evidence of leapfrogging by emerging markets with regard to mass mobile payment use, has important implications for theory development and marketing management practice in IB.

Global brands and perceived brand globalness (PBG) research have received much scholarly attention in the IM literature (Aaker & Joachimsthaler, 1999 ; Batra, Ramaswamy, Alden, Steenkamp, & Ramachander, 2000 ; Steenkamp et al., 2003 ). Contributing to this growing literature, Mandler, Bartsch, and Han tap the potential aversion to globalization among consumers and examine sentiments with respect to branding as the basis for corporate decisions regarding the appropriateness of global branding. The authors leverage signaling theory to conduct two studies that (1) assess brand credibility on the basis of consumer PBG and perceived brand localness (PBL) across two countries (Germany and South Korea), and (2) examine the role of three moderators (perceived country of origin, category social signaling value, and category cultural grounding). The findings demonstrate that both PBG and PBL are positively associated with brand credibility across markets; a split-sample test offers a contrast between globalized and globalizing markets, and demonstrates a relationship between brand credibility and PBL in Germany but not in South Korea, where brand credibility is associated with PBG. The study reports the impact of brand origin on brand credibility and demonstrates that effect of PBL on brand credibility does not vary with the brand’s origin in Germany, but the effect is stronger for domestic brands than for foreign brands in South Korea. The contrast between consumer perceptions in globalized and globalizing markets offers fruitful theoretical and managerial implications, while raising a series of consumer and IM strategy questions that have the potential to expand the boundaries of IM knowledge.

Origin-related research and animosity with reference to consumer perceptions, preferences, and choice have played major roles in the marketing literature (Klein, Ettenson, & Morris, 1998 ; Lu, Heslop, Thomas, & Kwan, 2016 ; Samiee, 1994 ; Verlegh & Steenkamp, 1999 ). In line with this stream of IM research, Westjohn, Magnusson, Peng, and Jung contrast animosity’s effect on product judgement versus willingness to buy. The first part of their contribution consists of a meta-analysis of 43 post–Klein et al. ( 1998 ) published works focusing on animosity, involving 18 nations, to address the inconsistencies reported in the literature. The authors follow this with an examination of the contextual role of culture on animosity effects using six experiments in the United States and China. They leverage three Hofstede dimensions (i.e., collectivism, long-term orientation, and power distance), measured at the individual level. The results indicate that collectivism and long-term orientation lessen the negative effects of animosity and support the position that animosity’s effect on willingness to buy is stronger than it is on product judgments. The findings offer useful insights for managers regarding, among others, consumers’ attitudes toward brands. Although the findings indicate that product judgements are not affected by animosity, the results indicate that product sales could be affected. In addition to demonstrating cross-cultural differences, the authors find that cultural values influence consumers’ willingness to buy.

The establishment, development, and management of cross-border interorganizational exchange relationships has received considerable research attention in the IB literature (e.g., Bello & Gilliland, 1997 ; Robson, Katsikeas, Schlegelmilch, & Pramböck, 2019 ; Skarmeas, Katsikeas, & Schlegelmilch, 2002 ). The starting point for Obadia and Robson’s study is the inconsistent findings in the literature regarding the effects of cooperation on performance in exporter–importer relationships. The authors argue that the relationship of cooperation with performance in IB associations has an inverted U shape; at high levels, the performance impact of cooperation weakens greatly and becomes negative. They also find that the importer’s specific investments mediate the link between cooperation and performance, which advances the idea that relational phenomena affect exporter performance only if they foster an importer’s productive behaviors. The study also points to the role of interdependence in moderating the inverted U-shaped relationship between cooperation and the importer’s specific investments. The findings reveal that a limited increase of interdependence enhances the impact of low to moderate levels of cooperation on the importer’s specific investments.

CONCLUDING REMARKS

Overall, criticisms of IM scholarship (e.g., Buckley, 2002a ; Douglas & Craig, 1992 ; Kotabe, 2001 ) are generally well placed and to the point. Marketing and IM are pivotal to a firm’s existence and should play overarching roles in charting firms’ management and strategy. Yet IM has largely abandoned the “big picture” by focusing on microresearch and behavioral questions, notably, country-of-origin, and cross-cultural consumer behavior topics (Day, 1996 ; Kotabe, 2001 ; Leonidou et al., 2017 ).

Much work remains for IM scholars to advance the field by placing greater emphasis and effort on strategy-related topics and exploring macro-areas of business: for example, by bridging IM strategy with regard to market entry modes and globalization and addressing issues related to disruptive external change to global supply chains and e-commerce, among others. Indeed, Buckley’s ( 2002b ) position regarding the past successes of IB scholarship in exploring international market entry (the “big picture”) may seem premature if one agrees that marketing, a central concern of which is the customer and the idiosyncrasies associated with the demand-side, is largely absent from much of this success. The relative absence of “marketing” in much of the market entry literature is a call for IB and IM scholars to leverage this critical aspect of firms’ internationalization decisions. This view is consistent with Drucker’s position that “Concern and responsibility for marketing must therefore permeate all areas of the enterprise” (Drucker, 1954 , pp. 38–39). Additionally, the fact that IB and IM are close in their fundamentals, and that the IM knowledge structure significantly taps into management scholarship (Buckley, 2002a ; Samiee & Chabowski, 2012 ), further validates marketing’s relevance and centrality in the broader international business thought. Consequently, the perceived proximity of these disciplines appears to be greater than one might expect. A major strength of IB has been its ability to embrace and integrate other business disciplines from which crucial research questions emerge (Peng, 2004 ). A more marketing- and customer-centric view of IB research is also in line with this position.

There appears to be ample research opportunity to adopt a marketing mindset in IB research and to explicitly introduce marketing considerations to achieve a marketing-based view of IB activities, most notably the macro-issues, including market entry mode choice, international expansion patterns, cross-border buyer–seller relationships, and strategic alliances. Although this special issue is primarily intended to inspire and broadly direct researchers’ focus on developing IM projects that fill key knowledge gaps in IM thought, in keeping with Drucker’s and Levitt’s positions regarding the marketing purpose of all enterprises, we very much hope that this work offers pathways for general IB scholars to embrace, leverage, and contribute to IM knowledge.

The proportion of marketing articles reported by Griffith et al. ( 2008 ) is likely inflated, as two of the six journals surveyed are dedicated entirely to international marketing topics.

This issue maybe exacerbated by the use of varying terminologies across disciplines; however, despite marketing’s centrality in business, “marketing” and “consumer” or “customer” are rare terms in much IB research (cf. Anand & Kogut, 1997 ; Hejazi, Tang, & Wang, 2020 ).

MSI is a non-profit organization led by academic researchers, in collaborations with industry, aiming to address marketing issues faced by firms. Although we do not observe an ongoing internationally related research momentum in its current list of priorities, MSI has periodically addressed selective IM-related topics.

We also calculated citation per year to account for the timing of the published works; however, as Tables 1 and 2 show, among the highly cited works, the most-cited set and the order of articles remain largely the same.

This includes intracorporate export transactions involving parts and semifinished products. International firms frequently require subsidiaries to effectively compete in quality, price, and service with other suppliers, effectively marketing themselves as the premier supplier to the internal customer. Even if intrafirm export sales were guaranteed, as is the case in some firms, the final assembled product must still compete with other firms in every respect. In other words, the marketing function of intracorporate export transactions is merely pushed to the firm assembling and selling the final product.

Several journals, led by Journal of International Marketing and International Marketing Review , are dedicated to publishing scholarly IM research.

This is based on the spatial configuration generated by multidimensional scaling for works published in 34 scholarly journals (2,709 articles) in the 2004–2008 period. Other analyses (factor analysis and clustering) produced slightly fewer knowledge groups.

Estimates of the number of publications in this IM domain vary. For example, Samiee and Chabowski ( 2021 ) identify more than 482 country-of-origin publications listed in the Web of Science database, whereas Lu et al. ( 2016 ) estimate that the number of country-of-origin-related publications exceed 600.

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Samiee, S., Katsikeas, C.S. & Hult, G.T.M. The overarching role of international marketing: Relevance and centrality in research and practice. J Int Bus Stud 52 , 1429–1444 (2021). https://doi.org/10.1057/s41267-021-00433-2

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Massive amounts of vertical PV may reshape European energy market

A group of scientists led by the Joint Research Centre (JRC) of the European Commission has analyzed the impact of deploying more vertical PV systems in the European energy markets and has identified potential advantages that may be offered by this scenario. These include lower electricity prices, lower system costs, and an increasing power exchange between neighboring countries.

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An international research team has investigated the impact of deploying bifacial vertical agrivoltaics on a large-scale disruptive scenario in the European energy market and has found that east-west oriented vertical PV panels could play a significant role in achieving a more balanced and more integrated continental power system by 2040.

The scientists found, in particular, that the perspective of a larger penetration of vertical PV systems, mainly of commercial and industrial size, may lead to several major improvements such as increasing solar power shares and value, reducing base-load electricity prices, and enhancing energy exchange between neighboring countries.

The group explained that east-west oriented vertical PV extends the generation time of a solar array to dawn and sunset, which are periods when it is more valuable to the consumers. “Such setup typically produces 30% in the 3 midday hours in contrast to the south facing PV that produce nearly 70% of its output in the midday,” it emphasized. “Favouring vertical bifacial systems reduces peak PV production, and ensures a production profile that covers a larger number of hours, which helps solar-based production maintain higher market value.”

The analysis was based on the European Power Market Model (EPMM), which is a multi-market sectoral equilibrium model that simulates the European electricity wholesale markets and analyses the impact of policies on the European markets. It covers the 27 countries adhering to the European Network of Transmission System Operators for Electricity (Entso-E).

The modeling considered minimized electricity demand costs, start-up and shut-down costs, production costs, and renewable energy curtailment. It covered both conventional and renewable generation and, as well as energy storage. “The primary model objective is to satisfy the electricity consumption needs at the lowest system cost, considering the characteristics of available power plants and cross-border transmission capacities in the European power system,” the group stated.

In the five proposed sensitivity scenarios analyzed by modeling, solar PV is expected to reach a capacity ranging from 649 GW to 1,178 GW from around 240 GW currently. In the base case, however, no investments in vertical bifacial PV were assumed, while in the best-case scenario vertical PV is expected to reach a remarkable 50% share.

“The model output clearly shows an increase in solar generation by 2% and 3.6% in 2030 and 2040, respectively,” the researchers explained. “This increase exceeds 5.3% in the high PV scenario, clearly showing the potential of the vertical system. Notably, a substantial increase in the electricity injected into the grid is evident with higher vertical PV utilization, primarily replacing gas and nuclear generation.”

The analysis also showed more vertical PV may lead to substantially lower power prices, due in part to lower system costs, reduced curtailment and the replacement of expensive conventional power generation assets.

“Over the longer term, the European power system becomes more sustainable both economically and environmentally,” the scientists concluded. “The future system is characterized by lower CO 2 emissions, and reduced reliance on imported fossil fuels, and it will be more sustainable in economic terms as well, characterized by reducing total system cost and decreasing wholesale electricity prices.”

Their findings are available in the study “ Impacts of large-scale deployment of vertical bifacial photovoltaics on European electricity market dynamics ,” which was recently published in nature communications . The research group included academics from Hungary's Regional Centre for Energy Policy Research, the University of California – Berkeley , the Joint Research Centre (JRC) of the European Commission, Greek consultancy Elpedison SA, and software provider European Dynamics Luxembourg SA.

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In the end, remember that these steps are just a high-level overview of international market research. Each market research project is unique, so you'll need to tailor your approach to fit the particular needs of your company. Keep in mind that the process of conducting comprehensive market research is an essential and unavoidable task if you ...
International Market Research
Mark as interesting. International market research studies markets and consumers across different countries and cultures. It provides insights into global trends, preferences, and behaviors, aiding businesses in tailoring strategies for diverse geographical audiences.
Conducting Market Research
Conducting Market Research. International market research is a key piece of successful export planning. It is important to critically review and assess if the potential export destination is suitable for your product or service. You need to determine if there is a market, if your product is competitive after determining the landed cost, and ...
Conducting International Marketing Research
International Marketing Research in the 21st Century Introduction Businesses preparing to compete in the 21st century are increasingly confronted with the task of crafting strategies that anticipate and respond to the rapid pace of change in global markets. As a result, their information needs are changing and becoming ever more complex and ...
9 Key Steps to Conduct International Market Research
2. Conduct a Country Analysis: Dive deep into the specifics of your target countries. Evaluate economic stability, cultural nuances, legal frameworks, and political landscapes. A thorough country ...
International Market Research
The primary task of market research is the identification, evaluation and comparison of potential foreign markets (for market selection, see the explanations in chapter "International Market Selection"). At the beginning of the selection process, regions are excluded from further analysis if they do not meet certain conditions such as ...
International Marketing Research
eBook ISBN 978-3-031-54650-1 Published: 08 July 2024. Edition Number 1. Number of Pages XLIX, 611. Number of Illustrations 18 b/w illustrations, 26 illustrations in colour. Topics Marketing, Market Research/Competitive Intelligence, Online Marketing/Social Media, Consumer Behavior, Branding.
Challenges in Conducting International Market Research
In order to capture comprehensively and in a structured way the particular challenges of international research projects in marketing, we break the typical research process into five steps, as depicted in Fig. 1: finding a conceptual framework (Phase 1), defining the research unit and identifying the unit's drivers (Phase 2), conducting the data collection in multiple nations (Phase 3 ...
How to Write an Effective International Market Research Report
An international market research report is an in-depth exploration of a new market, collecting as much information as possible and sharing it within the company. ... Writing a strong international market research report is a demanding and complex task, and for best results, you should work with experienced professionals. Working with a veteran ...
Export market research and analysis
January 18, 2023. Export market research and analysis are crucial for businesses seeking to expand their presence in international markets. By identifying target markets, understanding market dynamics, analyzing market demand and trends, evaluating competition, formulating market entry strategies, and assessing risks, businesses can make ...
International Marketing Research
There are three basic data collection approaches in international marketing research: (1) secondary data, (2) survey data, and (3) experimental data. Secondary data were collected for other purposes than helping to solve the current problem. Primary data are collected expressly to help solve the problem at hand.
8 Reasons Why Companies Need to Research Their International ...
5. Mitigate risk. Entering any new market is a risky venture, and that risk increases when you expand abroad. According to research by the Harvard Business Review, companies operating abroad faced far lower Return on Assets compared to those in domestic markets. Many of these companies do not survive the attempt.
What Is International Marketing Research? Scope, Factors
3.6 Language Differences. The major objectives of International Marketing Research are: To carry out country screening and selection. To evaluate a country's market potential. To identify problems that would not require a country's listing for further consideration. To identify aspects of country's environment that needs further study.
International Marketing Research
International marketing research requires a deep understanding of diverse cultures, as consumer behavior, preferences, and market dynamics can vary significantly across countries. ... avoiding gathering irrelevant information, and analysing and interpreting data. Thus, defining the research problem may be the pivotal task in the entire study ...
International Marketing Strategy in Emerging-Market Exporting Firms
Özsomer Ayşegül, Simonin Bernard L. (2004), "Marketing Program Standardization: A Cross-Country Exploration," International Journal of Research in Marketing, 21 (4), 397-419. Crossref Google Scholar
How to Build a Career in International Research
Then they normally start working as research assistants, helping their professors conduct research. These tasks can vary, for example, I used to check the proofs in my professors' academic articles.
Navigating The American Dream: A Guide For International Brands
Strategic Expansion Essentials 1. Market Research. This is the compass that can help your brand identify current consumer trends, competitive niches and untapped opportunities.
Moscow as international financial center: Ideas, plans ...
Moscow is still placed very low by the Corporation of London research team in the Global Financial Centers' Index. Therefore the Russian authorities put forward the task to develop the Russian financial center of international standing which should be based in Moscow and probably later partially in St. Petersburg.
PDF Challenges in Conducting International Market Research
leading marketing journals like Journal of Marketing (e.g., Petersen et al. 2015) and in journals that are dedicated to international marketing topics, such as Journal of International Marketing and International Marketing Review. While growing in number, multi-country marketing studies are often criticized for how they address
Marketing Research in Russia
Marketing Research for International Brands in the Russian market. Will your product be in demand in Russia? Who are your competitors in Russia and what strategies do they use? ... Task: The regional manufacturer planned federal expansion. To build a holistic marketing strategy, he ordered a comprehensive study from us that involved dealers ...
International Markets and Global Payments (GPN): A Deep Dive for
Examine Global Payments' (GPN) international revenue patterns and their implications on Wall Street's forecasts and the prospective trajectory of the stock.
International Business Machines (NYSE:IBM) Trading Down 0.5%
International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13 ...
Currency Exchange International (TSE:CXI) Share Price ...
The firm had revenue of C$27.26 million for the quarter. Currency Exchange International had a net margin of 11.37% and a return on equity of 12.44%. As a group, equities research analysts forecast that Currency Exchange International, Corp. will post 2.7739583 earnings per share for the current year. Currency Exchange International Company Profile
Is VanEck Morningstar SMID Moat ETF (SMOT) a Strong ETF Right Now?
IShares Core S&P Total U.S. Stock Market ETF has $56.87 billion in assets, Vanguard Total Stock Market ETF has $403.33 billion. ITOT has an expense ratio of 0.03% and VTI charges 0.03%.
Fitch Affirms Haiyan State-owned Assets Management at 'BBB-'; Outlook
Fitch Ratings-Hong Kong/Shanghai-15 August 2024: Fitch Ratings has affirmed Haiyan State-owned Assets Management Co., Ltd.'s (HYSA) Long-Term Foreign- a
The overarching role of international marketing: Relevance and
Marketing is the raison d'etre and the force that drives organizations. Among the many axioms advanced by Peter Drucker, the father of modern management, are that the purpose of a business is "to create customers", and that an organization has only two functions: one role relates to marketing (i.e., innovation) and the other is marketing (Drucker, 1954, p. 37; Trout, 2006; Webster, 2009).
Massive amounts of vertical PV may reshape European energy market
An international research team has investigated the impact of deploying bifacial vertical agrivoltaics on a large-scale disruptive scenario in the European energy market and has found that east ...