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Tuesday, March 13, 2012

The Importance of Market Research to mantain your business..

Is of great importance to study the markets when you want to do business there one has told me he began to do and the answer may be here that there is a requirement of the most important should be recognition before setting up any business because they must also know the market and the needs of this market and then you see if it pays, then you can open a business, as you used to do business of fighting rush off do not expect huge success and you can not stand firm in any business. The following are different ways to market your business to be there with a good productivity commercial ... accompany me to briefly
  • 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
    • 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.
    • Discovering how to overcome barriers to market entry
    • Understanding customers' needs
    • Identifying new trends
    • Establishing fair market prices for your products 

    • Primary Market Research is when a company collects data directly from the foreign marketplace by
      • Conducting interviews
        • In person
        • Over the telephone
      • Employing surveys
      • Using focus groups
      • Conducting field tests
      • Contacting
        • Potential representatives
        • Potential buyers and resellers
        • End users 

         Secondary Market Research is when a company collects data indirectly from various sources.
        • Government agencies and trade associations
          • Economic and trade statistics
          • Demographic data
        • News Media
          • International news reports
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