MKT630 GDB Idea Sol

Market research is a formal study of specific situations to better understand the issues or problems and end up making right decisions. If you carefully study the international marketing research process, it requires extensive paper work and lots of finance to collect the relevant information.
Small Medium Enterprises (SMEs) generally do not have sufficient finances for research. What do you think, how a SME can conduct international market research with minimum available resources.
(Do not write the steps of international market research. You are required to bring two suggestions how SME can manage the international market research by minimum resources)

Solution:
Small scale surveys and focus groups are low cost ways to gather information from potential and existing customers. Also most of the secondary data (statistics, demographics, etc.) is available easily to the SMEs to analyze according to their needs.

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