The Role of Market Research in Shaping International Product Strategies: An Empirical Study
Keywords:
market research, international product strategies, global markets, consumer behavior, competitive analysis, data-driven decision-making, localization, emerging markets.Abstract
This study examines the role of market research in shaping international product strategies, offering empirical insights into its impact, challenges, and industry-specific applications. Through a mixed-methods approach, combining qualitative interviews with marketing professionals and a quantitative survey of 200-250 companies, the research explores how market research informs product strategy development in global markets. The findings reveal a strong positive correlation (r = 0.68, p < 0.01) between the depth of market research and the success of international product launches, with companies investing more in research achieving 25% higher success rates. Key challenges include data accuracy (42%), resource constraints (35%), and organizational resistance (28%), particularly in emerging markets. Industry-specific analysis highlights the healthcare sector’s strong reliance on research (r = 0.72, p < 0.01), while geographic variations show that companies in Asia achieve the highest success rates (70%) despite lower research investment. The study underscores the importance of systematic market research, localized strategies, and data-driven decision-making in enhancing global competitiveness. Practical implications include prioritizing regular research, improving data reliability, and fostering a culture of innovation. Theoretical contributions emphasize the need for further research on emerging markets and the role of technology in market research. This study provides valuable insights for academics and practitioners seeking to optimize international product strategies through effective market research.
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