Yesterday I wrote about Methodology For International Market Research and the question of whether you can use one methodology for your international market research across a variety of different countries.
…One methodology for your international market research?
It depends on:
- What you need to get out of your international market research.
- What type of market research you are using.
Today let’s look at three different types of market research.
Online Research
These three different types of market research are particularly suitable for international market research.
- They are suitable for both online and offline research methods.
There are other types of market research for offline market research. But online research and web marketing are indispensable tools for international business development today.
Let’s have a look…
Exploratory Market Research
This is the type of market research most people think of when contemplating international market research.
General country research from:
- Government sources
- Market research websites
- International news websites
- Search engine queries
This type of research can give you a basic idea about different international markets.
I have encountered many business professionals who want to take important international business decisions based only on results from this market research. And this is a mistake.
This is one of the reasons why I encourage phone research. It is natural to continue on to other layers of research when you are talking to people on the phone.
This information is not enough for you to actually do anything with.
But it does give you a base from which to start the more in depth research you need.
Exploratory research is an easy place to start.
- Some people seem to want to find all of their answers here.
- Others seem to want to find out as much as they can here – out of procrastination before moving on to more in depth research.
Remember, you can always come back here if you need to.
Descriptive Market Research
Before starting this type of research you need to feel comfortable with your understanding of:
- Who your target market is
- What they want
You can get this information from your Exploratory Research.
During this stage of research you simply need to flesh this knowledge out much more.
Surveys are the best tool to use here.
Surveys help you to pinpoint exactly what your target market wants and who they are.
This is your goal during this type of research.
Casual Research
Causal research is the ongoing research you must do once you start interacting with your international markets.
This is where you build your international market intelligence.
You need to:
- Cross-verify your information
- Reexamine any assumptions
- Question your international markets
- Get a closer understanding for your international markets
Casual Research involves an interest in your international market. It is about the relationship you create with your foreign markets.
This is not a difficult process. It is very market specific.
Your International Research Program
These are the three most common types of market research you need to develop an international business.
More on aligning your methodology later this week…
More On International Market Research:
- 5 Factors To Consider When Marketing To Different Cultures
- Choose How You Connect With Your Foreign Markets
- Here’s A Blog To Help Your International Market Research
- How Do You Learn About Your International Markets?
- How Do Your Foreign Prospects Use Their Search Engines
- How To Know Where Your International Markets Really Are With Business Blogging
- Methodology For International Market Research
- International Market Research Essentials
- International Market Research Success
- Target Market Research Versus Persona Marketing, Or Both?
- Target Your Global Market With A Good Understanding Of Their Demographics
- Why Is International Market Research So Important?
More In These Get International Clients Business Guides:
She is who I turn to when I have questions and you should too"
-- Chris Garrett, co-author of the "Problogger" book
