Questions Assignment Example | Topics and Well Written Essays - 500 words - 7

Questions - Assignment Example This can be through a market consultant hired on behalf of the company. The collection should be targeted in a manner that enables the understanding of the global market information that can help reduce market uncertainties. The market analysis surveys should also be conducted through segments and in a systematic manner. However, the collection of data in the market surveys may be two front; primary and secondary data. In the case of primary market research, the data collection from the foreign markets can be through initiated phone interviews, market surveys or through a direct contact with the market representatives and targeted consumers. However, primary research is expensive and time consuming. For secondary research, the data may be collected from sources such as international market reports, global economic and trade statistics, and from trade agencies operating in the targeted market/country (Rogers, 2001.p.230-237). In this, the overall human population in the country will aid in the estimation of the market size in terms of buyers potentiality. The same also helps in outlining the number and levels of competition present for the market (Iacobucci & Churchill, 2010.p.162-173). This entails looking at the economic climate of the country, and whether it is thriving and suitable for business. A recess or growth in the economy is determined through the identification of the GDP over the duration of time. This is in relation to taxes and import regulations in place such as tariffs and the influence of local and foreign suppliers, the promotional activities and the representation of sales in the country. This relates to the political system governing the country and the effect of the same on the ability to import. Issues like the legal system in use and the tariffs and non-tariff barriers need to be researched, as well, and the adoption of the International