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Step 7: Selecting and researching potential countries/markets abroad

You are here:Step 7: Selecting and researching potential countries/markets abroad > Implementing the research brief > Evaluate the shortlisted countries in more detail Commissioning an external market research agency


 

 

Commissioning an external market research agency

 

Turning a market research project over to an agency, even if they are an experienced firm, does not automatically ensure that satisfactory work will be the result. Terms of reference (based on the research brief) must be drawn up and the agency must be carefully selected.

Research agencies vary widely in terms of the type of research they undertake and the kind of skills they can offer. Some agencies specialise in doing research within certain industries, such as food, engineering or tourism. Others specialise in particular types of research, such as motivational research or test marketing. Another fundamental difference between agencies is that some specialise in consumer research and others in industrial (i.e. business to business) research. It is rare for an agency to be equally skilled in all of these areas.

 

No reputable market research agency should hesitate to supply references and the feedback provided by former clients should enable the firm to narrow down the possibilities to a shortlist of two or three promising agencies. An interview should then be arranged at which the research needs are discussed in detail. More specifically, the exporter should provide the agency with the following guidelines:

  • A detailed description (and/or sample) of the product(s) in question
  • A statement of the research problem(s) (preferably in the form of a written document)
  • An indication of the types of decisions that are likely to be influenced by the research results and the uses to which the results are to be put (e.g. whether publication is envisaged)
  • An outline of the budget available for the project

The agency should, in turn, present examples of its work, e.g. reports that have been completed for other clients. After the initial interview, each agency should be requested to submit a written research proposal, including, for example:

A detailed description of the research design covering:

  • The scope and nature of any preliminary desk research or pilot studies to be performed
  • The data collection technique(s) to be used, i.e. how the information is to be obtained
  • The universe to be sampled. i.e. who is to be interviewed/surveyed
  • The size of the sample, i.e. how many are to be interviewed/surveyed
  • The method of sample selection, i.e. how the respondents are to be selected
  • A statement of the cost of the project and a clear indication of how this figure has been arrived at (including any assumptions made)
  • A reasonably detailed timetable for the project

We have provided a checklist for you to use for selecting a market research agency.

 
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Step 7: more information

Step 7: Selecting and researching potential countries/markets abroad
      Preparing a research brief
      Implementing the research brief
            Compile a shortlist of countries
            Evaluate the shortlisted countries in more detail
                        .Focusing on the customer – Undertaking marketing research
                              in your foreign target market
                        .Circumstances favouring in-house research
                        .Circumstances favouring agency research
                        .Checklist for selecting a marketing research agency
                        .Desk research
                        .In-market research
      Preparing a research report

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More information on Step 7
Learning to export...
The export process in 21 easy steps
Step 1: Considering exporting
Step 2:Current business viability
Step 3:Export readiness
Step 4:Broad mission statement and initial budget
Step 5:Confirming management's commitment to exports
Step 6: Undertaking an initial SWOT analysis of the firm
Step 7:Selecting and researching potential countries abroad
Step 8: Preparing and implementing your export plan
Step 9: Obtaining financing for your exports
Step 10: Managing your export risk
Step 11: Promoting the firm and its products abroad
Step 12: Negotiating and quoting in exports
Step 13: Revising your export costings and price
Step 14: Obtaining the export order
Step 15: Producing the goods
Step 16: Handling the export logistics
Step 17: Export documentation
Step 18: Providing follow-up support
Step 19: Getting paid
Step 20: Reviewing and improving the export process
Step 21: Export Management
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