Explain the importance of conducting competitive research in the global marketplace

Global Marketing Research Organizations that conduct business in the global marketplace must collaborate with stakeholders (suppliers, strategic partners, customers, communities, governments, etc…) in the environment, and must continuously scan the environment for competition. Marketing researchers are often tasked with conducting the due diligence for an organization that does business in the global environment. Marketing researchers may be tasked with identifying important stakeholders that can help the company increase efficiencies, for target marketing purposes, to minimize political and/or legal risks, etc. Marketing researchers may also be tasked with scanning the competitive environment to protect the companies market share.

We know more today about people and cultures on the other side of the globe than we did a decade ago. We understand that competition is always applying pressure by trying to win market share in the global economy. Conducting marketing research is an essential task if a company expects to survive in the global economy. Answer the discussion question using the research resources provided in the Reading section of the course room. You may also wish to conduct further research on the topic matter using the Kaplan University library.

Choose an article from the resources listed in the Reading section of the course room, or find a relevant article in the Kaplan University library that discusses collaboration or competition in relation to global marketing research. Discuss the findings of your chosen article by addressing one of the following topics:

• Explain the importance of conducting competitive research in the global marketplace
• Describe the importance of collaboration through marketing research in the global marketplace

Be sure to cite all articles you use in your post.