International Marketing

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International Marketing

ASSIGNMENT NO. 1

Submitted By:

Name          - MRIDU TRIPATHI

Roll No.      - 340121

Division      - A

Batch          - 34th

Date            - 07-July-17

Introduction:

The assignment discusses about process of International Marketing Research. Feasibility of selling health drinks in emerging market like China is been discussed in assignment. There are several process which are          should be performed while conducting research in a particular country.

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My product for this assignment is ProtineX which is a health drink provides protein supplements which is used by more than 1 million people in India from kids to adults and older people also. Protein Supplements can harm too so it must be consumed under guidance from health experts. Therefore there are side-effects seen after long term consumption.

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Side-Effects from Supplements are: 

• Gas indigent
• Weight is more and becoming fat
• Failure of kidney and many parts failure
• Improper digestion leads to Diarrhoea
• Dehydration

Taking consideration into the fact protein powder components are supplement which build internal immune system, mainly builders or body builders take this product. They make pack on muscles very fast and provide sustainability in body. There are several advantages of a protein powder. There are so many research and studies which have already given supplements advantages and disadvantages.

Benefits from ProtineX: 

• Increase the immune system of body
• Makes healthy skin
• Stimulates hair and nail skin
• Improves digestion
• Increases weight etc.

Steps of International Marketing Research Process:

Market research gives us a systematic process which means methods to take decisions regarding business. It involves six step process:

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Step 1: Defining and understanding of Objectives: 

For ProteinX the objective of study is to know feasibility in market like China.

• Whether there is acceptance or non-acceptance of this product among the people of China?
• Who are competitors in China?

Hence our objective is defined and we will move our next step for research.

Step 2: Research Design:

In this step, we will determine our research methodology (whether it will be survey on some other way of doing business). We are required to identify and select the sample design and size for research. Including certain questions such as:

• Who will be our respondents?
• Where we will find these respondents?
• How will motivation takes place?
• Where will we conduct our survey? etc.

The choice of design will depend on the data we are collecting. There are three options:

1. Exploratory Research: Research methodology is used when the topic is not defined well and understood, and when the researcher regarding the topic is vague. It is qualitative form of research.
2. Descriptive Research: The research is quantitative in nature. The goal is to measure interests of consumer, quantitative manner. Descriptive research involves surveys more.
3. Causal Research: The research is specific type of research. Here we are determining a causal relationship between variables.

Step 3: Preparing of Research Instrument:

Earlier steps we decided the type of research which we can use in our research and now we are required design our tool for research. If doing survey is appropriate tool, we will prepare questionnaire. If focus group is instrument, we will prepare questions and materials. At this point we will start up with executing our plan.

Step 4: Data Collection:

The most important step for research, we have to manage the survey, run our concentration gatherings, direct the meetings, and so forth. The filled survey frames, answers, observations are gathered and recorded, for the most part in a spreadsheet shape and furthermore in scrap papers.