Question

What are the challenges of conducting marketing research in global markets. Provide examples of companies that failed to conduct adequate research and failed in in their attempt to compete successfully in foreign markets.

Answer 1

What are the challenges of conducting marketing research in global markets

• The diverse lifestyle of global consumers makes it difficult to get the desired results out of marketing research
• Companies have no idea how a foreign market would react to their tactics
• The different beliefs of  global consumers make it difficult to conduct marketing research
• Cultural Barriers may prove fatal
• Limited Financial and Technological Capabilities of companies hinder the succesful marketing research
• Inadequate response lead to failure of marketing research
• Communication problem can be barrier
• Infrastructure problems can be barrier

Provide examples of companies that failed to conduct adequate research and failed in in their attempt to compete successfully in foreign markets.

1. eBay
2. Mattel
3. Taco Bell
4. Best Buy
5. Wendy's