International Marketing Reserach Using Advanced Technology Platforms

Market Research is defined as the process of identifying anticipating and satisfying consumer requirements profitably. This places the consumers right at the center of any organization’s core activities. It is this principle of making sure that the Consumer is considered as the King and Queen of any organization engaged in international marketing. To break things down the key nature of International Marketing research are as follows:

1. Identify – Figuring out the answer to questions that deal what the consumer requirements and needs are and how this is connected to their thoughts and emotions on how their products or services are perceived. This is the main key purpose of market research

2. Anticipation – It is important to understand that consumer requirements can change as their lives change. It entails market researchers to look into the possibilities and see how that can correlate to what is currently available. Targeting on what would be considered as the Next Big Thing will require a lot of forward thinking.

3. Satisfaction – Expectations being met is now a common consumer language, one that they expect to be delivered on a constant basis and if possible exceeded. Timing plays a huge role here as many if not all would want the right service/goods, at the place, at the right cost and at the right time.

4. Profit – Marketing ultimate goal is to make a profit. Any organization that misses this will have nothing left to put out for future projects and goals. Without the resources to put in to current marketing practices it wont be able to capture the data needed to identify, anticipate and meet consumer expectations.  

In the past conducting the tasks that are required to capture accurate data for market research of a global scale is almost impossible not to mention quite costly. But with the current developments in technology such as the emergence of social media through the internet and rapid development of mobile technology, market researchers now have an invaluable tool that is both effective and cost efficient. Applying these current and upcoming technological platforms to market research  empowers researchers with the following advantages:

1. An infinite panel of respondents: Current and upcoming developments in social media platforms and mobile platforms provide researchers with the means to seamlessly view into an individuals personal beliefs, needs, desires and even a peak into the behavioral patterns of millions of people across the globe. Unlike traditional panels and closed forums, researchers have no limitation on the size of the respondents. People are showing more comfort in expressing themselves through these social media and upcoming technological platforms.

2. Infinite surveys: through these modern platforms, it is now easier for market researchers to figure out just about anything they could put their minds to with regards to the consumer segment and more. There is no limit with regards to the data one can find as compared to a fixed number of pre-determined survey question. There is an almost infinitesimal range of topics and ideas that can be covered at any given span of time.

3. Real – Time: Now research marketers can track and identify emerging trends in consumer choices in real time as opposed to the traditional methods of data gathering which requires a lengthy amount of time to conduct. This allows market researchers to quickly test new ideas and campaigns and obtain insights from them faster and more efficiently.

4. Unraveling Hidden Insights: Market researchers also gain insight into particular consumer discoveries, things that only can be found out through regular conversations rather than a limited survey form. Here market researchers through seamless communication with consumers can at times uncover hidden preferences, unmet expectation and unintended but rather ingenious uses for their products.