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.
- 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
© 2004 John Michael Pierobon