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Research Pattern

In: Business and Management

Submitted By ranjitace01
Words 4513
Pages 19
A typical research pattern might consist of five stages: * targeting study – to identify companies within a sector, to quantify sectors and to highlight new or adjacent sectors for further investigation; * issue identification and formulation of offer – structured interviews covering size and scope of potential customer activity, existing products/services, current purchase criteria and trends combined with database and financial analysis leading to a formulated offer; * opportunity quantification – having formulated a product or service offer, further structured interviews, questionnaires or web-polling to establish probabilities of spend, movement to new product, service or supplier, information channels and timing; * product/service launch programme – planning and developing a launch or expansion building on the contacts made, developing new targets and adjusting the percentage spent in marketing areas; * segmentation and refinement – ongoing work to analyse the returns, setting sales and commission targets, developing target ‘take’ and return figures

Step 1 - Read websites and blogs about the market
Before doing business in any new market, read websites and blogs about that particular market. Fortunately, there are websites and blogs written about almost every market in the world, describing its history, culture, business customs, key players and local business politics.
Step 2 - Talk to people who already know the market and its culture
Don't reinvent the wheel. Talk to people who already know the market and its culture before you try to enter it. Find people who have done business in-market, or who otherwise know the market. Have them tell you how business is done in-market, what traps to avoid, and how to be successful. Ask them to share with you the essential, but to them quite obvious, information that you need to know about doing…...

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