Business Marketing

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Chapter 7 LO1. There are four major trends that have influenced world trade and global marketing . first one is decline of economic protectionism , is the practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas . Second is rise of economic integration , just like creation of the European Union and the North American Free Trade Agreement . Third , there exists global competition among global companies for global consumers , resulting in firms adopting global marketing strategies and promoting global brands . And finally , is the emergence of a networked global marketspace has emerged using internet technology as a tool for exchanging goods , services , and…show more content…
Step 4 is develop findings from the marketing research data collected . This involved analyze the data and present the findings of the research . The last step is take marketing actions , which involves implement the action recommendations , evaluate the results . LO3. Secondary data have already been recorded before the start of the project and consist of two parts : internal secondary data , which originate from within the organization , such as sales reports and customer comments , and external secondary data , which are created y other organizations , such as the U.S. Census Bureau , or business and trade publications , Primary data are collected specifically for the project and are obtained by either observing or questioning people . LO4. Marketing researchers observe people in various ways , such as electronically using Nielsen people meters to measure TV viewing behavior or personally using mystery shoppers or ethnographic techniques . A recent electronic innovation is neuromarketing --useing high-tech brain scanning to record the responses of a consumer’s brain to marketing stimuli like packages or TV ads . Questionnaires involve asking people questions in person using interviews or focus groups or via a questionnaire using a telephone, fax , print, e-mail , or internet survey . Panels involve a sample of consumers or stores that are
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