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Research Methodologies Paper

1230 words - 5 pages

XYZ, Inc has decided to market the organization's top-selling product to Finland. In order to wage a successful campaign in Finland, the marketing research team will have to research various aspects of the Finnish economy. These aspects are economic, cultural, sociological, and political climate; overview of the Finnish market conditions; summary of the technological environment, and competitive situation.Background on FinlandFinland is a member of the large global free-market economy. Per capita, its output is very close to that of the UK, France, Germany, and Italy (CIA, 2010). The primary types of manufacturing in Finland are wood, metals, engineering, telecommunications, and electronics. ...view middle of the document...

A marketing project consists of three levels. Level one involves gathering research about the country, area, and/or market. Level two is the gathering of information needed to forecast future marketing. Level three is the gathering of market information to make product, promotion, distribution, and price decisions (Keegan, 2008).Research ObjectivesXYZ, Inc can use both primary and secondary resources to gather the necessary information about the Finnish market. XYZ, Inc has decided to hire a local research firm in Finland. XYZ, Inc will also use the internal research department by sending them to Finland to assess the market situation first hand. This hands-on research, although costly, will benefit the company as a whole. The research team will take the research obtained by the local firm and compare it with the research obtained by the internal team and use both to help make decisions on marketing products in Finland.XYZ, Inc will use the research to1.Identify the target market in Finland2.Identify cultural aspects related to product marketing3.Identify political concerns within Finland directly related to the marketing of foreign products4.Identify current marketing conditions in Finland5.Identify any competitionResearch MethodsXYZ, Inc can utilize many different types of research tools to collect primary data. Both the internal team and the outside research team hired can use the following types of research to gather the information necessary to start doing business in Finland. Surveys, interviews, consumer panels, observations, and focus groups make up the most common types of research methodologies used to conduct global market research.Surveys are used to collect both qualitative and quantitative data. This type of research is conducted through the use of different types of distribution. Surveys can be conducted electronically, by telephone, by mail, and even verbally. Infrastructure and cultural barriers exist with surveys though (Keegan, 2008). The research teams will have to decide if using surveys will gather enough data from the Finnish consumer.Interviews allow researchers to interact with potential consumers on a face-to-face basis (Keegan, 2008). Interviewers can ask many different types of questions and tailor them to fit each consumer. Although costly and longer, interviews can gather more accurate and personal responses from consumers.Consumer panels are groups of potential, past, and current consumers of products. The best example of a consumer panel is Nielsen Media Research (NMR). NMR conducts television research and viewing research through the use of electronic devices that monitor what consumers watch on television. Many television...

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