Importance Of Managing Global Market Research

925 Words4 Pages
With the economy becoming more and more competitive with each passing day, having the most current knowledge about concerns and preferences of consumers is key for success. With effective global market research, your company can gain invaluable information about their competitors, economic shifts, demographics, the current market trends and the spending traits of you’re the customers. In this essay we will be reviewing the article “Living in a global world” and explaining the importance of global marketing research. In this article the importance of conducting global market research is to understand the importance of how consumers from developing countries evaluate global brands from developed countries. Conducting research will allow companies to understand the attitudes of their market consumers. Knowing the attitudes of your consumers will allow the company to know what is preferred and being sought after. Companies then can become to have a clear understanding of how to improve, increase revenue, and how to satisfy customer wants and needs. In this article the author “proses that global orientation, including global consumption orientation and global identity, are key factors accounting for the attitude variance” (Guo, X., 2013, pg. 1). The competitive environment plays an important role in any business, but is the key success factors in global businesses. One of the main factors that developing countries must consider when entering or emerging markets is the
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