Which statement is true about collecting data for market research in global markets?

• A. Data collection methods used in one country are always equally effective in all other countries.
• B. Cultural differences can affect the accuracy and interpretation of collected data.
• C. Language barriers rarely impact the process of gathering market research data.
• D. Global market research does not require consideration of local regulations regarding data privacy.

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the context of market research in global markets, which involves gathering data to analyze consumer behavior, preferences, and market conditions across different countries.
2. Step 2: Recognize that data collection methods effective in one country may not be equally effective in another due to differences in culture, language, and social norms.
3. Step 3: Consider how cultural differences can influence both the accuracy of data collected and how that data is interpreted, as respondents may have different ways of understanding and responding to questions.
4. Step 4: Acknowledge that language barriers can significantly impact the data collection process, potentially leading to misunderstandings or misinterpretations if not properly addressed.
5. Step 5: Remember that global market research must comply with local regulations, including data privacy laws, which vary by country and can affect how data is collected, stored, and used.