The Importance of Market Research

• Your company may begin exporting without any market research if it receives unsolicited orders from abroad.
  • But, you will find even more promising markets by conducting a systematic search.

• Businesses that invest time in market research increase their chances of succeeding in international markets.
  • Just as an athlete needs to invest in good fitness equipment to compete.

• Researching potential markets can help your company by:
  • Finding where your products are most likely to sell
  • Identifying market segments and niches
  • Determining both domestic and international competitors
  • Discovering how to overcome barriers to market entry
  • Understanding customers' needs
  • Identifying new trends
  • Establishing fair market prices for your products

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© 2004 - 2012 John Michael Pierobon

Notes