The Acceptance of a Multinational Philosophy of Business - Research Paper Example

Marketing research helps companies to determine their long-term strategies and goals. Since decision makers are often far removed from markets with their many dimensions, marketing intelligence must be provided on a regular basis. Marketing research is the major research arm that enables the performance of this function. It gathers records and analyzes data that furnish information and then intelligence. The techniques used in marketing research range from statistical, mathematical, and computer approaches to the projective techniques of psychology; from surveys and experiments to personal observation and assessment of marketing activities. Marketing research can only fortify the decision maker; it cannot provide complete and sure answers to marketing problems. Marketing research uncovers and tests hypotheses concerning various marketing relationships; classifies marketing facts systematically. it applies scientific methods to problem solving, including the use of formalistic statistical and mathematical model (Perreault 2003). Disney is one of the most popular entertainment companies in the world. Marketing research allows the company to identify its current position and determine demands and expectations of its customers. Using marketing research, Disney can supply past data about products purchased, market concentration, advertisements read, distribution costs, and consumer attitudes and opinions (Kotler and Armstrong 2006). It cannot eliminate uncertainty, but can narrow its range. Through the information it generates, key issues and alternatives can be defined and guides can be established for evaluating available choices. Success in marketing decisions, therefore, depends not only on marketing-research information and projections but also on the creative ability of the decision maker. Disney should use advertising research and brand equity research, demand estimation and buyer decision research. As a basis of gaining intelligence, marketing research can be wasteful as well as useful. Besides limiting risk, marketing research is itself a genuine business risk, but one that must be undertaken. To have the best chance of success, it must be conducted by people who have a solid understanding of company needs as well as the needs of customers. It requires effective communication between top management and the research staff, and a management willing to overcome biases and predispositions in order to institute programs based on research findings (Hollensen, 2007). The utilization of computer technology, coupled with better research techniques, has greatly increased the facts available. But large masses of data can also prove to be disruptive. Managers can be inundated with facts. Marketing management is thus challenged to develop an integrated marketing information system to provide the intelligence and knowledge required for both short-term marketing goals and longer-range company needs, in order to eliminate unnecessary data. In addition to marketing research in any company, related manufacturers, retailers, wholesalers, marketing research agencies, advertising agencies, trade associations, governmental agencies, universities, financial in- stitutions (including banks), and chambers of commerce all provide useful research data and information for solving marketing problems. For instance, research agencies buy the data from supermarket chains and in turn sell data on the movement of food items through chain stores and their warehouess. In addition, marketing intelligence (as an integral tool of planning, control, and evaluation) has implications for areas other than marketing (such as capital budgeting, purchasing, personnel or manpower, and finance). The use of research tools and techniques flows from the desire of marketing executives to obtain more adequate intelligence regarding the relevancy of objectives, determining alternative strategies, making decisions, and measuring and controlling results. This generation of quantitative intelligence leads to more rational marketing policies and programs (Kotler and Armstrong 2006). The Internet and Disney businesses are aimed to create the world of fantasy and entertain audiences. The main difference between these businesses is that The Internet represents the virtual world while Disney represents the real world. Disney parks, namely, that the perspective can only address audiences' readings or decodings of what is actually in the text. The approach cannot readily examine audience reactions to the silences in a text, at least not without being very demanding about the kinds of analysis that audiences are expected to undertake. Themes which are consistent with the interests of corporations and the white middle class tend to be given particular integrity, while those which are inimical to their interests are either ignored or are conveyed as having less integrity. Technically, it encompasses both product planning and product development, which in reality are synonymous. In consequence, we shall rely on the term product development in its broadest sense (Collins and Porras 2004). Product development is concerned with offering the right goods at the right time, at the right price, in the right quantities, in the right place. Referring to the process of evolving new products, it is closely associated with market development. It focuses on the future product line, on products that should be added or deleted, on the impact of products on price, promotion, warranty, and service, and on the development of criteria to evaluate product performance. By assessing new or modified products that can be added by acquisition and internal development, product development becomes the life blood of a business (Disneyland Home Page 2008). Decisions in this area determine the products to be produced and stocked, as well as details concerning their appearance, form, size, package, quantities, timing of production, price lines, and anticipated market segments. Product development combines the scientist's function of analyzing, classifying, and organizing information into commercially feasible new products, and the marketer's function of assessing unsatisfied wants and needs and identifying profitable market opportunities. Usually this activity necessitates compromise among the engineering, production, marketing, and accounting departments (Jackson 1998). For example, the high specifications stressed by engineering may push costs above market acceptance .Effective product development adopts a critical but positive posture. These attractions do relate to Disney films and merchandise, and hence are implicated in the points that have been made about consumerism and the inter-referential character of Disney outputs, but they are much less entangled with the loftier speculations (Collins and Porras 2004). Similar to Disneyland, the Internet allows special entertainment like theme parks and virtual products. It is possible to say that the Internet provides audiences with passive consumption while Disney allows to touch and buy real predicts. To be effective, international marketing requires more than a consideration of corporate effort alone. It needs an integrated plan that takes into account both government policy and the competitive position of participating American businesses (Ostman 1999). Common markets provide for both the freer movement of resources and goods among nations and the reduction of tariffs. The European Economic Community, which has led to a partial Americanization of a portion of Europe, is one major supranational influence. Each management seeks the means most suited to their company to cultivate international markets. Each company's current markets, corporate structure, finances, product line, and image all have an influence on its operations abroad. But, flexible marketing policies are required for distribution channels, pricing, and advertising policies. They must be adjusted to meet foreign environments. The acceptance of a multinational philosophy of business means that research and development, new products, and new methods of doing business must be designed for specific areas (Hipkins 2001). BIBLIOGRAPHY Collins, J., Porras, J. I. 2004, Built to Last: Successful Habits of Visionary Companies. Collins. Disneyland Home Page 2008. retrirevd 06 July 2008 www.disneylandparis.com Hipkins, G.2001, Pleasures of the State. Art Journal, 60 (1): 20-39. Hollensen, S. 2007, Global Marketing: A Decision-Oriented Approach. Financial Times/ Prentice Hall; 4 edition. Jackson, K. M. 1996, Introduction Walt Disney: Its Persuasive Products and Cultural Contexts. Journal of Popular Film and Television, 24 (1): 50-60. Kotler, Ph., Armstrong, G. 2005, Principles of Marketing. Prentice Hall; 11th edition. Ostman, R. E., 1998, Disney and Its Conservative Critics. Journal of Popular Film and Television, 24 (1): 82-85. Perreault, W.D., Cannon, J.P., McCarthy, E.J. 2003, Marketing: Principles and Perspectives. McGraw-Hill/Irwin; 4 edition. Read More