What is the task of the international market researcher? How is it complicated by the foreign environment?
As an international market researcher, there are not only more things to look at, but more importantly, it requires more in-depth research to fully understand.
Economic
Economy, inflation, business cycle trends as well as profitability analysis, industry economic studies, and key economic indicators for the home country and major foreign countries.
Sociological and political climate
Cultural differences, ecology, safety, leisure time and the effect these can have on business conduction.
Overview of market conditions
Market conditions business is faced with, and market segmentation.
Summary of the technological environment
Carefully broken down by product segments.
Competitors
Review of competitor's market shares, methods of market segmentation, products and apparent strategies on an international scale.
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Researching International Markets
- In what ways can data be collected by companies?
- When is qualitative research more effective than quantitative?
- How is decentring used to get an accurate translation of a questionnaire?
- What problems related to language and comprehension can occur when collecting primary data? How can they be overcome?
- What problems can occur when gathering secondary data in foreign markets?
- Why is the formulation of the research problem difficult in foreign market research?
- What are the stages of the research process and how are these affected by problems encountered due to the international dimension?
- Why is international research generally broader in scope than domestic marketing research?
- The shift from making "market entry" decisions to "continuous operations" decisions creates a need for different types of information and data. How can a MMIS provide assistance? How would an MMIS be established and used at different levels?