Marketing Research International Marketing - 1084 Words

Mission of an international researcher is sorely wide and it is important to determine the most productive and influential tasks. Marketing research exercise involves systematic enquiry. Thus, it requires a careful planning of the orderly investigation process. â€Å"Global market segmentation is the process of identifying specific segments, whether they be country groups or individual customer groups, of potential customers with homogeneous attributes who are likely to exhibit similar behaviour† (Hassan Katsanis, 1991). In case of international marketing DODCAR is one of the main frameworks that is utilized for evaluating suitability of the market segmentation. International market researcher needs to consider the stages of market research†¦show more content†¦In terms of opportunities in China, it has the world’s 2nd largest economy. The population of Shanghai 23000 million people, which makes a market segmentation widen. Moreover, consumer-buying behavior in choosing products are highly influenced by western cultural perception. China’s top economic policymakers set domestic consumption as a main driver for the country’s economic growth. Business threat is cultural barrier, as Chinese people are used to drink tea, rather than coffee. 2.2 Objectives of research After defining and identifying the issue, the researcher must take a formal statement of research objectives. Such objectives may be stated in qualitative or quantitative terms and expressed as research questions, statement or hypothesis. Market segmentation pertains to the division of a set of consumers into persons with similar needs and wants. Market segmentation allows for a better allocation of a Starbucks finite resources. With growing diversity in the tastes of modern consumers, Starbucks is taking note of the benefit of servicing a multiplicity of new markets. It is necessary to create SMART objectives while segmenting Starbucks in international markets. The important objective of segmenting Starbucks in China is to increase sales for 30% in 2 years. The target city is Shanghai as the population of it is 23 million people and there are a lot of foreigners who are