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Global Market Research

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Global Market Research

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  1. your text GLOBAL MARKET RESEARCH

  2. What is Global Market Research? Global Market research is a process of collecting information to identify and analyze the market need, market size and competition. It includes social and opinion research that is systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.

  3. Importance Of Market Research With the help of Market Research it becomes easy for the companies to reach their targeted audiences and achieve the desired goals with better performance. It can measure the reputation of a company among consumers, governmental officials and the academic community. Market Research helps us in analysing and checking who are the competitiors and what are the various things done by them. Market research agencies have an important role to play in improving business strategies.Different strategies are adopted by these agencies to improve sales and thereby profits.

  4. Major Steps Involved In Market Research • Defining the market research problem • Formulation of Research design • Analysis of secondary data • Development of a questionnaire • Collection of primary data • Data Analysis • Preparation and Presentation of report

  5. Phases of Global Market Research These are the most important phases of Global Market Research • Phase 1: Deciding whether to internationalise- Assessing the demand for the company's products or services. • Phase 2: Deciding on markets to enter- Understanding their local competition and the potential of the product. • Phase 3: Market entry strategies- Understanding the competitors strategy • Phase 4: Designing the international marketing mix, the 7 Ps- Understanding the behaviour of the consumer, SWOT analysis, and deciding on the media mix. • Phase 5: Implementation of plan in international market- Final implementation and analysis of performance.

  6. For more information about Global Market Research have a look at LIGHT SPEED GMI website or check http://www.lightspeedgmi.com/

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