XYZ, Inc has decided to market the organization's top-selling product to Finland. In order to wage a successful campaign in Finland, the marketing research team will have to research various aspects of the Finnish economy. These aspects are economic, cultural, sociological, and political climate; overview of the Finnish market conditions; summary of the technological environment, and competitive situation.
Background on FinlandFinland is a member of the large global free-market economy. Per capita, its output is very close to that of the UK, France, Germany, and Italy (CIA, 2010). The primary types of manufacturing in Finland are wood, metals, engineering, telecommunications, and electronics. Finland, for the most part, has always traded exclusively with Scandinavia and Northern Europe. The economic downturn after the fall of the Soviet Union hit Finland hard. Following the end of the Cold War, Finland was forced to rethink its position in the global economy. Companies would have to make the most of their competitive advantages in order to survive.
Therefore, XYZ, Inc will have to decide their competitive advantage in Finland and use it to their benefit.
International marketing researchInformation is a key component to developing a successful marketing strategy for XYZ, Inc in Finland. Marketing research is defined as the gathering, recording, and analyzing of data for useful information in marketing decision making. International marketing has only a few differences from domestic marketing. One is that information must be gathered over international boundaries and cultural barriers. Many agencies have dedicated internal staff or outside agencies to help resolve this issue. The second issue involves the environments of the foreign markets. The types of information needed, the tools and techniques available, and the challenge of implementing a research process are the most important problems facing international marketing researchers.
A marketing project consists of three levels. Level...