Explain the various steps involved in the process of international marketing research. Also discuss the complexities of International marketing research.

Steps of International Marketing Research Process are -

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

Information has value only to the extent that it improves decisions. The value of information increases as;

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

Four basic measurement techniques are used in marketing research: (1) questionnaires, (2) attitude scales, (3) observation, and (4) depth interviews and projec­ts techniques. As with selecting the data collection method, the selection of a measurement technique is influenced primarily by the nature of the information required ___ _______ _____ _____ _________ _____ _______ ___ ____ ______ ____.
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