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Essay / Exploratory Research Paper - 980
Conducting marketing studies in the workplace of an international company is important to improve key marketing decisions. Unlike the vagueness of general business research, marketing research must follow a formal set of guidelines in order to collect data and analyze it. This method is basically a problem solving method, where the solution is found with the help of data collection and analysis. There are three distinct methods for generating marketing research: exploratory, descriptive, and informal research (Smith 2012). Exploratory research is used to attempt to define and solve a major international marketing problem. Exploratory research helps find a solution to a marketing problem by investigating different options and clarifying key marketing concepts. Descriptive research defines questions and is a method of analysis prior to data collection (Smith 2012). Casual Search is as simple as its name. With casual searches, people seek to find a cause and effect relationship between two variables in a less structured way. These three strategies are very general marketing research strategies, but to apply them to international business they need to be globally and internationally focused rather than local. Finding marketing strategies that embrace multiple cultures and demographics is essential to the success of any international business. The ability to sell and distribute goods to large numbers of people from very different backgrounds is a unique quality in the field of international trade.