Challenges And Challenges Of Global Market As Indonesia

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

In this paper I will present my research results regarding Singapore, as well as draw the picture of its marketing environment. I will include the information about the location, climate, population, religion and culture, official spoken languages, state of economy and level of technologies, political and legal systems, level of competition and potential for economic growth. In the conclusion I will highlight advantages and disadvantages of the Singapore marketing environment.

Brown, T. (2014). Basic Marketing Research, 8e, 8th Edition. [VitalSource Bookshelf version]. Retrieved from http://online.vitalsource.com/books/9781305178571/page/24

No other research method can provide this broad capability, which ensures a more accurate sample to gather targeted results in which to draw conclusions and make important decisions. Data collection is much easier with surveys which tend to use easy to read data sources that can be compiled and analyzed as needed for market research needs. Again, the anonymity of surveys allows respondents to answer with more candid and valid answers. To get the most accurate data, one needs respondents to be as open and honest as possible with their answers.

Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.

There are many types of data sources to obtain sufficient data you will need for the case. According to our book data sources consist of first-party, second-party,

A company’s future is never certain. Any number of outcomes may take place that either further or ends a company. Marketers must learn as much as possible about customers, prospects and its surroundings. Research and information give insight that fuels innovations, strategic planning, and forecasting. Marketers can use several types of sources to gather information

To conduct an effective market research survey, it is also critical to avoid sampling bias in selecting a population for

There are surveys being taken by many corporations, large or small, to gather information. This information is helpful in making improvements to certain processes. In fact, the Economics and Statistics Administration (2015) indicated that “the American Community Survey (ACS) is the largest continuous household survey in the United States, providing a wealth of information about the economic, social, and demographic characteristics of persons, as well as housing characteristics” (para. 1). Not every survey has to regard large scale issues or debates on a national level. For instance, the Springdale phone survey data is regarding issues consumers may run into while shopping at local malls. In an effort to continually improve processes such as: staffing, returns, convenient hours, and cleanliness, store owners and city official may take a random survey by calling folks in the community and ask for information on these issues. Can the data really make an impact on future sales? Without collecting the data, one would never know. Therefore, it is imperative to attempt to collect it.

To be successful in business, "a consumer does not buy a whole of physical components of the product but it is usefulness, function, satisfaction of consumer's needs, solving the problem, etc" (Dubrouski, , p.1). "That is why the product is a whole of tangible and intangible components which means satisfaction of consumer's needs and desires, solving the problem"(Dubrouski, p.1). Companies and managers must learn to utilize marketing research, as well as, strategy skills to fulfill customers' satisfaction. Management has to focus on exclusive marketing challenges presented by the new era of the 21st century. Management has to be able to utilize inventive, dominant, and cost effective marketing techniques that will support the future success of the organization. Companies must meet,"the increasing importance of services as part of a product (offer, offering package) which cannot be neglected" (Dubrouski, p.1). Exploring the purpose of market research, as well as, evaluating the importance of such research, facilitates managers in realizing the importance of marketing to an organization's success and to be globally competitive.

The company I choice to do a marketing strategy on was McDonalds, “Ba Ba Ba Ba Ba I’m Lovin’ it”. I choice McDonalds because it is one of the most universal and internationally known companies that will always and forever be known for its beautiful golden arches and Ronald McDonald characters. Of course, I could have gone with Kentucky Fried Chicken or even Ikea but the thought of not talking about one of the happiest places on earth, and I am not referring to Disney World, would be a disservice to our American culture. McDonalds has dominantly globalized and franchised around the world and gives new meaning to what marketing really is about. It all comes down to the elements of the marketing

Increasingly multi-national marketers are designing and selling global brands and need research to guide their decision making across an increasingly diverse and disparate world. Sound and timely marketing research becomes even more critical for firms as they compete in the 21st century

The KOF Index of Globalization ranks Indonesia 87th in the world in total globalization, below its immediate neighbors like Brunei, Malaysia, the Philippines and well below Singapore. The country ranked 76th in economic globalization, 146th in social globalization and 39th in political globalization. The country's economic globalization score is based on trade flows and restrictions, equally. Indonesia's score in terms of economic trade is likely dragged down by its significant trade barriers. These barriers represent an obstacle to flourishing trade for Indonesia, which otherwise performs well in terms of its international trade profile.

To: Nicholas Oritz, David Rodger, Stephanie Gwen, Raymond Toh, Tim Robinson, Fatimah Lee, Musa Mohammad