Forces of globalization have made business organizations across the world to bring innate change in marketing strategies and approach towards their own business in terms of global marketplace. Increased size of the market along with decreasing distance amongst various developed markets, business owners now need to polish their skills in order to survive in the fierce age of global competition. In order to sustain these changes and thrive in the competition most organizations are resorting to market research, which deals with all the local and international aspects concerning the products or services that these organizations wish to launch on the global platform.
Need for Global Market Research
Improving brand presence in new and unfamiliar markets has become crucial. It is even more essential in case of emerging markets like China, India, Russia and Brazil. These emerging regions are performing better than the developed countries, which has created a strong requirement for global brands that will truly represent the international customers and entrepreneurs. According to the experts, maintaining a strong global image has become the need of the hour for the consumer packaged goods companies or CPGs. The biggest challenge for these companies is in terms of different structures of supply chains and various unconventional channels like open air markets and kiosks.
Global market research is an ideal solution, when it comes to getting hold of all these crucial factors concerning international business. Breaking cultural ice and creating strong communication bonds with international customers is the prime agenda for the businesses. Researchers use various business research tools in order to gain the most accurate business data from various sources. Amongst these various sources, information technology has come across as the strongest tool. Technological advancements in information technology have shown numerous advantages for research industry.
Considering the great penetration power of mobile devices and networks across the world, researchers are now expecting to reach maximum number of consumers with this service. Mobile research has come across as one of the strongest tools for market research. Similar to online research, analysts create surveys and questionnaires and gamification studies to attract more customers. The biggest aim to using this tool is to attract maximum number of potential customers. Since mobile is one of the most common devices even in the developing countries, researchers have strong hope of gaining the desired results.
Nevertheless, mobile research methodology still has a lot to learn. Commitment to mobile experimentation is essential, which is lead by patience and confidence towards potential customers. Various leading market research firms are using mobile research at experimental level, which is hoped to be turned into a full-fledged tool in the days to come.