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Chapter 22

Chapter 22. The Future of International Marketing Research. Introduction Worldwide boom in consumerism: Unlike the past, the world-wide boom is expected to prove exceptionally durable because the world’s business cycles are more independent on one another. Rapid increase in wealth:

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Chapter 22

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  1. Chapter 22 The Future of International Marketing Research

  2. Introduction • Worldwide boom in consumerism: • Unlike the past, the world-wide boom is expected to prove exceptionally durable because the world’s business cycles are more independent on one another. • Rapid increase in wealth: • Historic levels of wealth, educational attainment and cultural exposure have been rapidly increasing worldwide • Ethnic shifts: • Although small in most places, ethnic shift are subtly but broadly altering American perspectives.

  3. Prevalence of chain enterprise worldwide: In today’s economy there is an ever increasing prevalence of chain enterprises worldwide Cosmopolitanism: The average citizen, especially in urban areas are very cosmopolitan. Large cities have a cross section of people of different cultures living and working together Free trade areas The emerging picture suggests that markets, once freed, are lifting nation states onto a faster track economic growth.

  4. IMR has been growing in popularity in the last 20 years: IMR has taken tremendous leap in the recent past and growth in International marketing Research is expected for a foreseeable future. Need for cultural segmentation: Every firm within a country will see increased pressure to serve various cultural segments in the most satisfactory manner.

  5. Higher cost of failure: Firms will have to be clearer in their information needs given the high cost of failure. Therefore, precise and relevant information is a necessity. Focus on geocentric operations: Increased focus on geocentric orientation than ethnocentric orientation.

  6. Advances in communication technology There will be an increased demand for products given the speed of communication. Consequently determining consumer choices worldwide becomes critical Internet - easy availability of secondary sources Secondary data will become increasing available with greater ease on the web. Therefore both the use and the misuse of this information is bound to increase.

  7. Increased use of non-probability sampling: There is going to a great increase in non-probability sampling for research on many product categories Sophisticated data analysis tools The data analysis tools of tomorrow are going to be a lot more advanced and accurate than those of today.

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