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The process of international marketing research

When it comes to marketing research, business owners know that there is absolutely no substitute for it where information gathering is concerned. The process is a slightly complicated one, however, and those complications are only increased when globalization is taken into account. In an ever-increasing globalized marketplace, knowledge of markets that transcend the world’s borders is becoming one of the primary areas of attention for internationally-focused companies.

What’s involved?

International marketing research is a complex topic. There are numerous areas that need to be considered and those considerations often change a lot from market to market. What that means is that depending on the market that is being researched as well as the countries that are most likely going to be involved, the areas of concentration can shift a little or a lot depending on the context. International companies must keep track of many things. There are forces both within and without these companies that directly affect their business success, so this type of research is extremely important.

International marketing research specialists provide acquired information and insight into how the market is diversifying, data regarding what the market shares are doing, and what the common trends are for a market.

International consumer behavior is also a prime consideration, as different types of products and services are more popular in some parts of the world than others – for reasons you can often not imagine. Keeping an eye on consumer preferences and habits across the globe is hard work, but international marketing research firms are well equipped to handle the load.

Another way international marketing research can help is by providing information on preferred packaging and product design. By paying attention to consumer habits and preferences, researchers can create conclusive recommendations that lead to more effective branding.

Keeping track of the laws regarding import/export, taxes, customs fees and the like is also a primary purpose of this type of research. Supply chains are a very big part of the globalized marketplace, and finding the best methods for getting goods to customers is of huge importance.

Concluding thoughts

International marketing research is the key to opening the possibilities that a globalized marketplace brings to modern businesses. Learning what is possible and what is not is essential for any type of company, big or small, to grow and become competitive on a large scale. While conducting this type of research is a bit complicated in nature, the payoffs for doing it are well worth the effort.

How can Nepa help their customers?

Nepa is taking the concept of actionable insight to the next level – to more levels and more people in an organization and more clearly explained. We believe in distributing the right data, in the right format, to the right stakeholder, at the right time, enabling decentralized and customer-centric decision-making. We have an end user-perspective where we find and solve customers business issues that our competitors don´t. We enable our clients to invest their efforts where innovation, development and sales is created.

Contact us for a free consultation. Want to get even more information? Visit our blog here.