To serve your customers efficiently, the entrepreneur needs to be sure of what the customer's multiple needs are, how best to satisfy them, and how to effectively communicate the nature of the goods or services they offer.
Objectives of market research:
They reduce risk in management decisions;
Detect problems and new business opportunities;
Control and evaluate the possibility and degree of penetration of a product (new or existing);
Monitor and evaluate the degree of market penetration (new or existing);
Control and evaluate the degree of recognition of their image and notoriety;
Ultimately improve the performance of your offer and guarantee results;
Measurement of public attitudes and attitudes towards social, political or other aspects, elaborated at the request of the Government or political bodies
In turn, the investment requires a feasibility analysis that considers the political, legal, economic, social and cultural environment of the market in a global, local context.
The choices between green field acquisition and investment, as well as the possibility of joining a joint venture, contribute to the diversity of alternatives associated with the investment when in the case of internationalization.