What Is International Market Research And How It Offers You Global Recognition?

 

International Market Research or IMR is used to conduct market research either simultaneously or sequentially to offer marketing decisions in various countries. The process studies numerous markets’ characteristics in order to facilitate marketing decisions that can be taken to the global level. 

The research deal with tracing different components that are responsible for the marketing whether it is product or service:

Internationalization of Business Operations

Many companies in India are willing to take their business presence on a global level than a national level. The sophistication and complexity of the operations are constantly changing as eight out of ten companies are stepping into International Market. This framework offers you four insights of orientation towards internationalization in order to expand into international markets. Such as:

·        Orientation towards nation

·        Orientation towards the host country

·        Regional orientation

·        And world orientation

So, if you also want to take your business on an international level, then you may approach the best international market research company before stepping in the IM.

How you can begin your research across countries?

International Marketing Research includes a wider range of research which is begin from single country research to multi-country research. Detailed information is written below.

                               

Single-country Research

This research is done in one country when it demands study in order to know and understand that if the domestic market strategy and environment playing well. Will it work in other countries as well? However, single-country research is helpful in order to bring out the unique characteristics of the overseas market so that it can serve the needs in the local market better.

Multi-country research

Multi-country research is divided into three categories: Independent Multi-country Research, Sequential Multi-country Research, and Simultaneous Multi-country Research.

·        Independent Multi-country Research: this research includes studies of subsidiaries for brand awareness through questionnaires, etc., or testing marketing of new service or product.

·        Sequential Multi-country Research: it researches a range of geographical markets. Through this, you can learn lessons from the first or two markets and apply your plans for the third market. It is used when a new product or service launching across countries.

·        Simultaneous Multi-country Research: The research includes conducting marketing research in multiple countries one after one.

So, take your business to an overseas level with a top international market research company.