Using Secondary Sources of Research

By Czinkota, Michael R.; Ronkainen, Ilkka A. | International Trade Forum, July-September 1994 | Go to article overview

Using Secondary Sources of Research


Czinkota, Michael R., Ronkainen, Ilkka A., International Trade Forum


A cost-effective means of surveying foreign markets is to use secondary research that is relevant to the firm's operations.

Insufficient knowledge is the single biggest reason for failure in the international marketplace. When we analyze global failures, we often find that critical errors could have been avoided if only the firm and its managers had known more about the business environment they were entering. Why didn't the marketers do the necessary research? The answer is usually simple. They thought it would be too expensive, or they didn't know how to do it.

Don't sail into the treacherous waters of the marketing world without a chart. You can build a low-cost research program that will assess potential target markets, spot the pitfalls and lay the groundwork for an effective marketing effort.

The key to creating a cost-effective way of surveying foreign markets is to climb on the shoulders of those who have gone before, i.e. make intelligent use of secondary research. In many cases the information you need is there for the taking. You just have to know where to look.

Here are the nine steps in the preliminary research process:

1. Understand the need for research.

2. Overcome objections and win support for research.

3. Determine research objectives.

4. Determine information requirements.

5. Identify sources of information.

6. Evaluate information source, quality and compatibility.

7. Obtain the information.

8. Interpret and analyze the information.

9. Present research results.

After completing these nine steps, you'll have a broad base of information from which to make the major decisions involved in going global.

Need for research

Many companies neglect to conduct adequate research before entering the global marketing arena. This neglect exposes the firm to serious business risks, such as the following:

* Loss of market penetration effectiveness.

* Incitement of ill will that precludes further efforts.

* Damage to the company's overall image.

* Erosion of confidence in the financial markets.

A well thought-out research program will not be as expensive and difficult as some may predict. Nevertheless, it will take money, time and resources. If management honestly considers the costs of not conducting decent research, it will pay the price.

Some managers are misled into skimping on the research function because they are already selling overseas. They carry on a certain amount of export business - not through any planned undertaking, but because it "just happened." Some international orders came in over the transom, so the firm has continued to sell there. Or the firm was contacted by a distributor abroad and has maintained the relationship without really thinking much about it.

The fact that you're doing some business in a particular foreign market doesn't necessarily mean that this is the only or the best foreign market for your products or services. A logical research program lets you evaluate what you're doing now as well as figure out what you should be doing.

The objectives of international marketing research are the same as those of domestic marketing research. However, the following environmental factors mean that the research might have to be executed quite differently: new parameters, new cultures, risk of overload and a broader definition of competition.

New parameters:

We become so used to the parameters of doing business in our own country that we take them for granted, like the walls of the office. We may chafe at regulations. We may protest, with good reason, various reporting requirements. But we are accustomed to these things. They may change as the political winds blow, but their general outlines remain the same.

When we start to do business in another country, we're prepared to cope with different requirements and other forms of paperwork. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Using Secondary Sources of Research
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.