International market research

Subject (Course): International market research. PEST analysis. Syllabus:

1. Introduction to the global market research.
2. How to export?
3. Where to export?
4. What to export?
5. Methods of conducting a market research.
6. Quantitative analysis.
7. Qualitative methods.
8. Market profitability.
9. Sales potential in foreign markets.
10. PEST analysis (Political, Economic, Social, and Technological Factors)
11. Market research study.
12. Case Study:
    - Market research using the market access tool (MADB) of the European Union (EU).
    - Mitsui Co.
    - Cargill.

This subject includes the EENI Market Access tool

Objectives of the subject “International market research.”

The main purpose is to understanding the key tools and concepts of international market research and how best to apply them.

1. To understand the importance of market research in the strategies of internationalisation.
2. To know how to analyse an international market research.
3. To learn how to use the PEST analysis (Political, Economic, Social, and Technological).

This will be achieved by:

1. Analysing the goals of researching a new export market.
2. Outlining the features of both qualitative and quantitative analysis.
3. Detailing the type of information that the student should obtain to assess the commercial viability of an export market.

Sample of the subject - International market research:

Subject Description (International market research):

The first step that a potential export enterprise should take is to estimate sales potential in each foreign market. There are more of 200 potential markets in the World, which implies the analysis of a huge amount of information. Many export Directors select markets, which share cultural proximity (Spanish exporters seeks to approach Latin America markets, Portuguese exporters to Brazil or Angola).

The exporter can use several parameters to describe the potential market:

1. The total population.
2. Potential market (segment of the population interest in buy -or import- the product or the service).
3. Available market (segment of the population who have enough money to purchase the product or the service).
4. Qualified available market
5. Target market (the segment of the market defined in the marketing plan).
6. Penetrated market (people of the company in the target market who have to buy the product or the service).

A PEST (Political, Economic, Social, and Technological) analysis is an evaluation of the external macro environment that affects the business. External factors can be threats or opportunities, normally they are beyond the control of the exporter.

An example of the Market Access Tool