Market ResearchAccelerate Your Global Strategy with CQ Business®

Why Market Research Is Essential

Once you have met the legal requirements for overseas expansion, the next step is market research. In many cases, depending on the product or service, Market Research is conducted prior to legal research.

For example, without knowing the actual market size for the product you plan to sell, who the key competitors are, what they offer, how they sell, and at what price points, you cannot devise an effective sales strategy. It is also necessary to research local consumers’ brand perceptions of the product and manufacturer, as well as their actual needs.

Market research investigates and reports on market conditions and competitors—essential for planning your business strategy. It typically uses quantitative methods such as surveys, and may also include techniques like in-depth interviews and site visits.