Preparation and Presentation of report Phases of Global Market Research These is in general for global market analysis with more steps. International Marketing Research design has 5 major phases • Phase 1: Deciding whether to internationalise- Assessing email list the demand for the company's products or services • Phase 2: Deciding on markets to enter- Understanding their local competition and the potential of the product • Phase 3: Market entry strategies-
Understanding the competitors strategy • Phase 4: Designing the international marketing mix, the 7 Ps- Understanding the behaviour of the consumer, SWOT analysis, and deciding on the media mix • Phase 5: Implementation of plan in international market- Final implementation and analysis of performance. Acquiring secondary data is a must; this gives a clear background as to how the process of research takes place. Other companies would have also done market research
in these global markets. By reading these works of market researchers can design their analysis work. At the end of the research work, companies usually list out the drawbacks of the research or the challenges they faced during the implementation phase. Primary research must be done when the agency is not able to acquire enough or reliable information. Collecting primary data takes more time and money consuming.