Why You Need Local and International Market Research Specialists

1. Why You Need Local and International Market Research Specialists With expanding markets, a local and international market research agency can offer you an economic, reliable and expert service that is critical for entering a new market.

2. With the increasing globalization of the markets today, research is also forced to become global. New markets have made the role of research all the more important. Today there are many companies that offer both local and international market research expertise. They offer a much more welcome alternative to hiring multiple research firms in individual countries or going in without back-up. Centralised Command: Hiring an international research firm instead of going for different agencies in new markets has one significant advantage –– a centralised command structure. This means that instead of liaising with multiple agencies, you have to deal with only one agency. It saves time and the hassle of coordinating. There are fewer chances of communication errors and you can develop a better relationship. Uniform research policy: Every agency has its own way of working. While most may follow the broad means of combining quantitative and qualitative methods, their research policies may differ from each other. By hiring a single agency you can develop a single research policy. Different research can also produce different results, bringing flaws in your data. While certain localisation of research methods is important, it is also necessary to keep a uniform policy on focus, scope and vital issues.

3. For any firm today, especially one that is planning expansion in the new future, comprehensive market research has become vital. Research can lead to multiple benefits, from proper planning to execution. It is the basis on which a company can achieve direction and understanding of its own business. Expertise: When entering a new market one is not always sure of local research firms. Certain markets still do not have a strong presence of such agencies. In such an eventuality it is better to look for a firm in your own country with local and international market research expertise. Fortunately, a number of Indian firms have a strong presence in multiple countries. By hiring a reliable firm, you can be assured of quality and save yourself from unpleasant surprises. Technological assistance: Many companies are still reluctant to hire a sole agency for international work. The usual reason is geographical limitations. However, in this technological age such limitations are not applicable. Today research firms use the internet to collect data from multiple sources. Apart from e-mailers, social media is a popular research source. Most firms use multiple means to collect data. For instance, a firm used the social media to collect a sample of working mothers from a particular area. These women were then asked to participate in the survey which was carried out through email questionnaires. Some respondents were also interviewed via Skype. Cost saving: The most significant benefit of hiring one firm to do all your work is the cost saving. You can agree on one pay structure and avoid incidental costs in each new market. Developed markets will inevitably have high-priced agencies. A local firm with local and international market research specialists will cost you much less.

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