A marketing manager is considering opportunities to export her film’s current consumer product to several different countries. She is interested in getting secondary data that will help her narrow down choice to countries that offer the best potential. The manager then plans to do more detailed primary research with consumers in those markets. What suggestions would you give her about how to proceed?
what is marketing as a function
To proceed with obtaining secondary data to narrow down her choices for potential export markets, here are some suggestions:
1. Conduct Market Research: Start by conducting market research to identify potential target markets. This can involve analyzing various factors such as market size, growth rate, competition, consumer behavior, cultural differences, and economic indicators.
2. Utilize International Trade Organizations: Make use of international trade organizations like the World Trade Organization (WTO) or the International Trade Centre (ITC). These organizations provide comprehensive data on trade flows, market access, tariffs, and export trends for different countries.
3. Government Resources: Consult resources provided by government agencies such as the Department of Commerce or the Ministry for Trade. They often offer market reports, trade statistics, and economic data for specific countries.
4. Industry Associations and Trade Publications: Industry associations and trade publications often publish market research reports and studies related to specific industries. These can provide valuable insights into market potential and consumer preferences in different countries.
5. Market Research Companies: Consider engaging market research companies that specialize in international market research. They can provide tailored reports and data on specific industries and markets, helping to identify countries with the best potential for exporting the film's consumer product.
6. Online Databases: Explore online databases and research platforms like Euromonitor, MarketResearch.com, or Statista. These platforms offer a wide range of market research reports, industry data, and economic indicators for countries around the world.
7. Trade Shows and Exhibitions: Attend international trade shows and exhibitions related to the film's product or industry. These events can provide valuable networking opportunities and firsthand insights into international markets, competitors, and consumer preferences.
Once the marketing manager has compiled and analyzed the secondary data, she can then proceed with more detailed primary research in the countries that show the most potential. Primary research can involve surveys, focus groups, interviews, or other methods to gather direct feedback and insights from the target market's consumers.