Before entering any new foreign market it is essential to carry out detailed international market research and evaluate the target opportunities. Get your research right and it will help prevent costly mistakes and maximise your profit potential.
It’s highly unlikely that you'll have the luxury to be able to target selling to the world over, so to save time and money it's vitally important to do your homework and identify exactly where in the world is the best place to sell your product or service.
International market research is all about understanding and responding to consumer traits in foreign markets, which may be very different to those of your UK customers. If you don’t research the culture, regulations and payment methods that are typical to the market that you plan selling to, then you'll most likely be setting yourself up to fail.
How we can help
We can't emphasise enough how important it is to target the right global markets for your business, and your chosen market research method will be crucial to any export success.
Our comprehensive desk-based and face-to-face market research services deliver insights into which countries may provide the best return for your particular product or service.
Our desk-based international market research reports include information on:
- market growth trends and opportunities
- business culture and language characteristics
- legislation, import regulations and certification
- primary competitor landscape
Our face-to-face international market research advice includes:
- help to determine research objectives
- planning of market research and related market visits
- identification of published market reports
- evaluation of market research reports
- assistance with prioritising your export markets
- briefing of market research agencies
At some stage, you may also decide that you'd like to do some field research by visiting your target market and meeting with potential business partners or customers. To ensure that it's a successful trip you can utilise our network of commercial officers and consultants, based in British embassies, consulates and chambers of commerce around the world, who can make in-market introductions and gauge the level of demand or your product or service.
Our desk-based and face-to-face international market research services are, in most cases, available free of charge to businesses based in the South West of England.
We also offer access to in-market Department for International Trade (DIT) experts from whom you can commission further research. Costs are based on the time required to deliver the work. For example, a short report identifying potential distributors can be delivered from £500 upwards. A very comprehensive piece of work, or a number of activities in different markets, will cost more.
How to get started
Upon enquiry, one of our desk-based international market researchers will be in touch to undertake a telephone briefing session to fully understand your business' research requirements. Our research team is thorough and knowledgable, giving you the best opportunity to find the right overseas markets for your products and services.
Call us on 01275 370 944