Mary Kay
3. Discuss your thoughts regarding the effectiveness and difficulty of carrying out market research on a global basis.
Consumer demand for value and convenience are now driving the global market, thanks to aggressive research. The acceleration of consumer lifestyles and a shift in power from supplier to retailer provides many companies an advantage over its competitors. One reason that global research is effective and has an advantage is because of the quality or superiority of the products or services provided by conducting the market research and how it produces new product ideas that could be used globally. For example, a niche market which is a gap in a market that is currently not being provided for by existing businesses in the industry. Their could be a trend, product, or service that is in production in another country and has provided that particular supplier with an competitive edge of that market segment, if that same product or services is available in the United States, the possibility of that market being successful would be exceedingly encouraging.
In addition, it appears that market research, when done globally is extremely important due to cultural backgrounds world-wide. There are social and economic differences that fundamentally will transform consumer perceptions of value depending on the country. That being said, I think that market research on a global basis could build rapid expansion with businesses internationally as long as the cultural and economic assessments are explored.
5. Segmenting, targeting, and positioning products globally
As stated in the case, both Japan and China were mature and lucrative markets for cosmetics. MKCs must manage not just one product in one market, but a whole product line targeted at the same or different segments in the market. I think that MKC need to examine how the marketing strategies for each product (i.e lipstick, foundation., etc) must be developed and implemented in a holistic
Consumer demand for value and convenience are now driving the global market, thanks to aggressive research. The acceleration of consumer lifestyles and a shift in power from supplier to retailer provides many companies an advantage over its competitors. One reason that global research is effective and has an advantage is because of the quality or superiority of the products or services provided by conducting the market research and how it produces new product ideas that could be used globally. For example, a niche market which is a gap in a market that is currently not being provided for by existing businesses in the industry. Their could be a trend, product, or service that is in production in another country and has provided that particular supplier with an competitive edge of that market segment, if that same product or services is available in the United States, the possibility of that market being successful would be exceedingly encouraging.
In addition, it appears that market research, when done globally is extremely important due to cultural backgrounds world-wide. There are social and economic differences that fundamentally will transform consumer perceptions of value depending on the country. That being said, I think that market research on a global basis could build rapid expansion with businesses internationally as long as the cultural and economic assessments are explored.
5. Segmenting, targeting, and positioning products globally
As stated in the case, both Japan and China were mature and lucrative markets for cosmetics. MKCs must manage not just one product in one market, but a whole product line targeted at the same or different segments in the market. I think that MKC need to examine how the marketing strategies for each product (i.e lipstick, foundation., etc) must be developed and implemented in a holistic