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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 > Circumstances favouring in-house research


 

 

Circumstances favouring in-house research

 

The term "in-house" research basically means that you do the research yourself on behalf of your firm, rather than appointing a specialist research agency to do the work. In reality, most smaller exporters simply cannot afford to pay the sort of fees that specialist research companies charge and will end up undertaking the research themselves. To help smaller exporters do the research themselves, ExportHelp provides a research advice page. Exporters may also choose to do their own research for other good reasons, such as:

  • You wish to develop in-company expertise in market research. Companies sometimes establish in-house market research facilities to develop their own expertise. Reliance on the abilities of others, such as market research agencies, can lead to the knowledge about a particular market or about market research techniques in general being stifled.
  • You have long-term objectives in respect of foreign market development. If your firm is developing export interests in a number of markets and your export activities constitute a large proportion of sales turnover, it might prove to be cheaper to develop in-house facilities than to continually employ the services of a research agency, even if you can afford the services of such an agency.
  • Specialist knowledge is a prerequisite for investigating the market and no agency specialising in the market/industry in question is available. In such a case, you might find it more economical to use your own facilities than to spend a considerable amount of time briefing an outside agency on the peculiarities of the product. This is particularly relevant in the case of high-tech items where a detailed knowledge of the product is necessary to effectively carry out the research and to speak in a credible manner to respondents, potential buyers, etc.
  • You already have trained researchers with the appropriate linguistic and technical ability and foreign experience.

 
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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 agency research
                        .Commissioning an external market research agency
                        .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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