If a company wants to enter a new market it is advisable for the firm to undertake market research before launching in the new market. This 6 page paper considers the different approaches that could be taken by a firm wishing to expand into a new market and gives some advice on a suitable methodology. The bibliography cites 5 sources.
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needs or desires of the target market. To enter the market successfully the firm will need to know about the target market, who they are what they want or desire
and what will influence the purchase decision and what will influence them to make a purchase. The only way to gain this information is to undertake market research. The research
will need to be clear with a defined purchase and a suitable methodology identified that will fit in with the market as well as be viable given the companys current
resources. 2. Market Research Objectives The market research will have a number of objectives they will include * To assess how the target market see the marketplace and
who they see as the main competitors. * What features or attributes will the target market see as an attractive form of differentiation. * What will influence the
target market to purchase the companys product * Where when and how the target market will purchase the goods. 3. Potential Research Methodologies There are specific difficulties associated
with international marketing research, not only is there the difficulty in terms of the research taking place in a new market which may be remote from those wanting to undertake
the research, there is also the challenges of cross cultural research which can lead to inferential errors (Singh, 1995). Douglas and Craig (1997) note that international researcher need to
have the ability to tailor research questions and methodologies for different environments. There is the issue of geographic co-ordination, but the more important issue of adaptation of research tools. The
methodologies should include team members that come from the culture being researched in order to help reduce the potential for cultural misrepresentation or misinterpretation (Douglas and Craig, 1997). However, this
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