Reference no: EM132304838

As businesses expand more and more in international markets, the role of timely, relevant and accurate marketing research to guide decision-making becomes increasingly critical. Research to support international marketing decisions has evolved over the past four decades and must change even more to support firms in the 21st century. There are four key areas where progress must be made.

First, international marketing research efforts need to be more closely aligned with market growth opportunities outside the industrialized nations.

Second, researchers must develop the capability to conduct and coordinate research that spans diverse research environments.

Third, international marketing researchers need to develop new creative approaches to probe the cultural underpinnings of behavior.

Fourth, technological advances need to be incorporated into the research process in order to facilitate and expedite research conducted across the globe.

Given the above, your boss wants to expand his retail operation internationally, with an eye on the Latin American markets. He recognizes your expertise in marketing, and in particular marketing in Latin American markets, and has asked for your input on the above 4 key areas of concern as they relate to the Latin American markets.