How do you learn from your successes and failures in your international marketing research and outcomes?

First, you can create personas for your target audience by connecting with them on LinkedIn. By building connections and learning about their specific needs, you can effectively tailor your objectives to address their preferences. Your SMART goal should encompass your objective agenda, detailing what you aim to achieve in the next 3 or 6 months. That SMART statement defines your goal Eg Expand Company Services awareness by 20% among target demographics in the USA specifically LA within the next six months through localized social media campaigns.

In My experience, SMART is enough to define your objective and metrics as one need to be clear in his/her mind that for what purpose they are willing to go for an export.

Customer Acquisition: - Specific: Acquire a specific number of new customers from a targeted international market. - Measurable: Gain 10,000 new customers from the identified market within the next six months. - Achievable: Implement targeted advertising campaigns and promotions to attract new customers. - Relevant: Contribute to expanding market share and increasing brand presence in the international market. - Time-bound: Acquire the targeted number of customers within the specified six-month period.

1. Reflect on outcomes: Analyze both successful and unsuccessful campaigns or initiatives. 2. Identify contributing factors: Determine what factors led to success or failure in each case. 3. Extract lessons: Extract key learnings from both positive and negative experiences. 4. Adjust strategies: Use insights gained to refine future marketing strategies and tactics. 5. Share findings: Communicate learnings across teams to foster a culture of continuous improvement. 6. Iterate and improve: Continuously iterate on marketing approaches based on insights from past experiences.

This is very important part as one need to be very clear about the global exports. Country/Region/Customers need to be specified otherwise exports will not help in any ways.

Qualitative Research: Depth of Understanding: Qualitative methods allow for rich, in-depth exploration of phenomena, behaviors, or experiences. Subjectivity: Interpretation in qualitative research can be subjective and influenced by researcher bias. Resource Intensiveness: Qualitative research can be time-consuming and labor-intensive. Example: Using open-ended questions in interviews to understand the underlying motivations of customers in a specific market segment Primary Research Sample Representativeness: Ensure that your sample is representative of the population you are studying to enhance the generalizability of your findings Response Rate:Consider the challenges in obtaining a high response rate for surveys,interviews or experiments

This plays a important role as one need to understand the local culture, people views on certain products. You have to thoroughly study the region before entering the particular market. Language, Human behavior, Product competitors and what all seasons do they have.

Drawing on Geert Hofstede's cultural dimensions theory, which includes power distance, uncertainty avoidance, and long-term orientation, can provide valuable insights into consumer behavior and preferences worldwide. For example, in cultures high in uncertainty avoidance, consumers may prefer established and trusted brands over new entrants Response Bias: Cultural factors can influence respondents' willingness to provide honest feedback. In some cultures, respondents may be more inclined to offer positive responses to avoid confrontation. It's essential to adapt research methods accordingly to mitigate response bias. Religious and Spiritual Influences: It play a significant role in shaping beliefs, values, and behaviors in many cultures.

This is will happen every time but one need to keep on testing and show something to customer which is not common in the market. Newly introduced product plays a important role sometimes and chances are more you to be leader in that particular field.

Feedback Loops: Set up mechanisms to gather feedback from customers, early adopters, and stakeholders continuously throughout the testing process. This feedback will provide valuable insights into what is working and what isn't. Iteration: Be prepared to iterate on your product, service, or marketing strategy based on the feedback and data you collect during testing. Continuous improvement is key to adapting to changing market conditions. Controlled Experiments: Design controlled experiments to isolate the impact of specific changes or variables to understand their effects on your target market. A/B testing and other experimental methods can help you make data-driven decisions.

This will always help. Learning from your feedback will always help you in positive side. Feedback will help you to develop particular product in such a way that customers can easily accept your product seeing the long term use and market. Segmentation will always needed to be kept in mind no matter what. International Marketing is very dynamic area. One need to be expert in particular if they are willing to expertise in a field.

In the words of Michael Porter, "The essence of strategy is choosing what not to do." Conducting a competitor analysis allows you to identify gaps in the market, potential threats, and areas where you can differentiate yourself effectively. This information can be crucial in shaping your market entry strategy, pricing decisions, product positioning, and overall marketing approach. Methodology for conducting a competitor analysis can involve identifying key competitors in your target market, analyzing their market share, product offerings, pricing strategies, distribution channels, marketing tactics and customer feedback. By benchmarking your performance against competitors and understanding their moves, you can better position your brand.

Collect and Analyze Data, Evaluate Successes, Document Lessons Learned, Assess Failures, Identify Improvement Areas, Adjust Strategies and Tactics, Test and Iterate, and Seek External Expertise.