Cindy King's International Business Blog » casual market research

International Market Research Success

Cindy King — Tue, 23 Dec 2008 23:00:28 +0000

This week I have been answering a reader’s question about whether you can use one methodology for your international market research across a variety of different countries.

And I believe this 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 steps to help you bring this all together.

Your Market Research Goals

First, remember to clearly develop your international market research goals.

Most businesses that carry out international market research want to:

Identify international business opportunities
Find ways to get more international clients
Get into foreign markets faster

But your international market research also helps you to:

Eliminate international business risk
Avoid international business blunders

This is an important step and I will not go into this more here. I will cover this in detail on Get International Clients

Different Market Research Tactics

Second, use different market research tactics when appropriate.

Yesterday I wrote about three different types of market research suitable for international business development:

Exploratory market research
Descriptive market research
Casual market research

The tactics you use when marketing to different countries will not always be the same for these three different forms of research.

When you look at each of these different types of market research it is fairly easy to understand that:

Exploratory market research

You can use one set of tactics for exploratory market research

Descriptive market research

You could use some of the same tactics across a variety of different cultures and you would probably get more valuable information with other culture-specific market research tactics

Casual market research

You probably need a different set of tactics for casual market research to get the same level of useful information from different countries and cultures.

Your international marketing skills will help you find the right market research tactics to use for your international market research goals.

Cross Reference Your Research

Third, make sure your information is accurate.

Cross-cultural communication is filled with barriers.

How can you tell:

What market research tactic to use?
When to use different market research tactics?

One of the best ways to improve your international business intelligence is to systematically cross research methods. Look for different ways to get the same information or related information.

This can be as simple as rephrasing your question.

But you should verify the key information you have about your international markets.

Use a different tactic or at least different variations of the same tactic.

Even if you are sure you have made the right assessment, it is often well worth a little extra effort to verify this.

Cross researching your international markets often refines your insights.

In practice, I have never needed more time to cross reference my market research.

I have always outlined a market research plan strategically.

By dividing the information you need into sub-categories it is often easy to cross-reference one piece of information from one sub-category with a source for another sub-category.

You simply need to remember to ask the different questions at the right time.

International Business Success

Effective international market research requires actions with:

Common sense
A clearly defined strategy
Effective cross-cultural communication
Appropriate tactics

The end result leads to much better decisions to help you build your international business.

International Market Research Essentials

Cindy King — Mon, 22 Dec 2008 23:00:24 +0000

International Market Research

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…