MARKET RESEARCH CHALLENGES AND MARKETING DECISION MAKING IN INDONESIA Aisha Raad /7686552 2017-OU3-MKT30015-MARKETING AND COMMUNICATION INFORMATION AND DECISION MAKING Mr. Ves Bogdanovich Word limit: 1442
Introduction We will need to conduct an analysis of Indonesia's expansion in the market is a vital aspect into the major steps of market research. The market research relies solely on the external environment which is the uncontrollable elements outside the may affect the expansion either positively or negatively (Solomon et al, 2011). External environment includes consumer markets, trends, competitors, the overall economy as well as political considerations. The purpose of an external analysis is to gain an understanding of these elements and expose potential opportunities and threats that may affect the future. Additionally, we will need to identify and anticipate any issues that may arise during the market research process for the Indonesian market, further in adapting or changing our strategies to oppose these issues. The issues are mainly associated with in the marketing research realm, however a few of those issues will be discusses eventually, and they include: > Selecting the research approach > Background / problem definition > Defining the research target Selecting the research approach In order for the development of the most effective strategy the information and project constraints must be considered using the combination of the desktop research methodology and regular brainstorming and discussion With the view of expanding. Most importantly selecting the right research proposal will be determined by performing a thorough research of the current environmental, political, economic and social climates, again tied with reports on new technology and forms of IT that may pose an interest to the business. Moreover, there should be a thorough research of media companies that currently exist in Indonesia, what similarities and what differences they have with it. The basis point will be market research reports in Indonesia to determine who the front-runners in the industry are, then researching the company websites to determine more information. As well as quantitive research through the allocation of numbers and percentages of businesses, which can be obtained from industry analysis reports as well as details of the businesses and what they offer. This information will best be found on the business websites, which most often try to advertise their success. The success of the current businesses expansion into the Indonesian market will be important too in offering advice. Seeking business market analysis reports and comparing profits and growth before and after expansion can gather this information. Conducting an "observation" type of research method can help identify some issues and help seek them as well as solve these issues, such as: * Finding businesses with similar motives that is are interested in building their presence and engage/expand into the international market Ensuring that the interests of marketing and expanding remain aligned and met * Costs involved in entering a partnership Determining how much control Indonesia is willing to give up in order to successfully break into the international market 1
X Overcoming language and cultural