Staying Ahead

How to conduct an International Market Research

Until recently, internationalization has mainly been examined with reference to multinational corporations and less for small and medium enterprises (SMEs). A primary reason for this was because it is small and is usually taken a problem in internationalization, as SMEs have a great disadvantage in resource access. However, the number of small firms operating in international markets has been increasing.

However, the changes in the global environment in hand with technological advances in data collection and analysis that researchers will need to broaden their capabilities in order to design, implement and interpret research. You will need to incorporate the latest technological developments in data collection and dissemination into the research design which enable researchers to dramatically reduce the time required to collect data across geographic distances that can be used in collecting data from international markets.

As international market research efforts are arranged to match the market with highest potential, researchers need to develop the skills and capabilities to conduct and design research in these environments. New tools are expanding the latest technology should be mastered along with the creative approach to understand the behavior in differing cultural contexts developed. The nature of information required and the amount of money you’re ready to spend will determine which techniques you choose to use for your business as there are many marketing research methods.

Surveys can be possible by the following marketing research methods

Using straightforward questionnaires, you can analyze a sample group that represents your target market.

In person surveys are one-on-one interviews. You can present people with the samples of your products, packaging or advertising and gather feedback immediately. It possibly generates response at the rate of more than 90 percent. But they are costly.

Telephone surveys are comparatively less expensive than in person surveys, but costlier than mail. However, getting people to participate in telephone surveys is very difficult due to consumer’s resistance to relentless. CATI (Computer Assisted Telephone Interviewing) is the advanced in computer technology.

Mail surveys are inexpensive compared to telephone survey to reach a broad audience in a very short period of time. They generate response at the rate of 3 percent to 15 percent. Despite of low return, mail surveys are still a cost-effective choice for small businesses.

Online surveys generate an unimaginable response rates and the data collected cannot be relied on because you have no control over the pool of respondents. But online survey is a simple, complicated and an inexpensive way to gather customer opinions and preferences. Internet provides a new means of collecting data and information. Rather than using a traditional way of using research library, the marketer can have instant access to data from traditional sources as well as sources that are only available on the Internet. The Internet can be used to collect primary data by tracking visitors to a website, or through conducting electronic questionnaires over the internet.

Change is occurring in virtually all aspects of business. These changes occur at different rates in different parts of the world depending on the growth. Against this situation, marketing researchers can conduct research that is of the highest quality, quickly, in multiple diverse settings. The issues in marketing research is that where and how the research will be conducted, who will respond and what will they be like, and the tools and techniques that will be used.

Entrepreneurial Learning

Change occurs in every aspect of business depending on the market. You can create a great marketing research process and plan through your marketing research. Remember, survey is not a 100% percent result, but it helps you to know the market conditions. Market research is an investment for your future. Save your money in long run by making required adjustments in your products or services.

Leave a Comment

Your email address will not be published.

You may also like

Growing a Business

Want Great Guidance ? Find yourself a Super Mentor


They are the gods of small businesses, those inspired individuals who have achieved the highest levels of success. They can be the shining beacons who light up the path of running your business with their vision, wisdom and wealth of resources and contacts. They are The Mentors.

If you are fired with the passion to take your business to great heights, the best thing to do is find yourself a super mentor. Here are some tips to help in your quest

Pinpoint your Need

Sit down and focus your thoughts on your business growth strategy. Which area of the business needs a lift. Is is staffing, is it the finances, is it the production, is it the your lack of customers or is it the business as a whole that needs a makeover. Once you’ve zoomed in on the sore spot, this is where you need…

Read More
Growing a Business

Dreaming Big? You can Move Mountains with these Business Productivty Tips


You may be full of admiration for some people who seem to manage themselves and their work so usefully and efficiently. They seem to fit in so much productive work into the same number of hours which everyone has.. Let’s look what makes them tick and take a few tips.

Learn to identify your most productive hours

Its true, most productive people know which time of the day they can be most creative and efficient. They identify and allot these hours for the best part of their work. This way they are able to give their 100% awareness to the job and business productivity.

Early to rise- A winning habit

Waking up early is a personal habit that has all the plusses on its side. You need not necessarily go to work that early. It’s a habit that gives you more time for personal care, like mediation, exercise, walking,…

Read More
Growing a Business

Leadership Qualities that can make you an Icon


You may have reached the leadership position through sheer dedication to performance and a do or die attitude . Now that you are at the top, your viewpoint needs to change. You have to now be a role model, one whom others will look up to and follow. Here are some tips that can shape your leadership and management skills

Be Competent: Employees will look up to a leader who has good industry knowledge and management skills. If you do not possess these skills you should surround yourself with knowledgeable people who can offer good counsel. Competence is a trait all employees will admire.

Be Trustworthy: No one will look up to a person they cannot trust. Your employees will want to rely on you and count on you. In difficult situations, leaders are expected to apprise their employees of the situations and find solutions on how to address…

Read More
Raising Money

Are You offering Your Services Using the Right Pricing Strategies?


In these times of fierce competition, business people , mostly those that offer services and belong to the service based industry, are finding it a challenge to implement the right pricing strategies. It is virtually a struggle to set the right business price that will retain and attract the customers, and not drive them away. Follow these tips, the crucial dos and don’t s and you may be in a much better position to offer your services at the best price.

Maintain your Business identity and Dignity

If you are offering a unique or special product or service, don’t underrate it just because you want to build a better relationship with the customer. This will just cheapen your offering as another run of the mill. If its something special you are offering the customer, then communicate this fact to the client and get the equation right with the most…

Read More
Raising Money

What is a Fair Wage? How Do you Assess Fair Wage?


How do you figure out a fair wage?

This is a very common question for startups and small businesses. They can’t seem to decide or understand how to set wages and manage reputations at a time. They are determined to pay well but they also have to think about encouraging their employees to stay with them for a long time. This is why there is a need to think strategically.

Listed below are a few expert tips to help you decide:

Don’t Focus Only on Money

Money should never be the main focus for you or for your employees. You should decide on the wages in such a way that your employees are tied to your business. When your business does well they should be able to taste that success and vice versa.

Also, think about additional perks such as exclusive benefits and time off. Many employees value this more than the overall…

Read More
Raising Money

Tips to Winning Hard Negotiations With Ease


While some negotiations are easy, others are quite hard to win. If you stumble you will lose.

Whether it is a potential client or an investor, negotiations can be very tough and frustrating. The problem is that the moment you let your frustration overwhelm you, you will lose the deal and you will give in to whatever is being offered to you. In order to avoid that, here are tips to overcome tough times and to win even the hard negotiations:


Know your opponent as well as possible. This is the rule no matter what you do. You should understand your opponent to the T. Who the person is, what his culture is, what he thinks, what he stands for, how is his network, etc. are the questions you should ask yourself and answer through research before meeting up for the negotiation. Understanding the opponent will give you a great advantage.


Read More