Market Research
When expanding into a new market, whether in the UK / Europe or worldwide, it really saves a lot of cost and disappointment if you research the market properly. The key factor in researching a new market abroad is remembering that the 'devil is in the detail!'.
It is the small details that can make the difference between success and failure. Unless you are extremely lucky, and who can afford to depend on luck, failure to conduct effective market research will lead to poor performance in your target market. STB work with clients to ensure that their market research is planned and initiated correctly leading into an effective marketing strategy.
Effective market research provides the following benefits:
- Identify and evaluate opportunities
- Minimise risk
- Creates benchmarks
- Knowledge of cross cultural communication differences
- Identify payment and delivery expectations
- Understand any legal restrictions
Effective Market Research - Benefits - in slightly more detail.
Market Research for E-Businesses
If you are a business with an online e-commerce presence you may already be getting international sales without doing anything specific, offline, to drive those sales. Maybe you think that it is therefore not important to do any market research? However, if you wish to drive further sales from a particular country you should still go through the structured process of market research and take advice on the culture and marketing approach to minimize risk and costs and MAXIMISE SALES!
For more information call us on +44 (0) 1509 670567 or complete the form on the right.
