Imagine you are an international business researcher. You have been hired by a Canadian business that is considering expanding internationally. They have narrowed the choice down to a few key markets and have asked that you provide some insight as to which market they should choose for their expansion. You should provide your recommendations in the form of an exploratory market research report.
Details: You choose the product the company exports (Apparel/Beer/Chocolate etc.) and which country you are going to investigate on their behalf. Your report should contain the following sections:
Market Intelligence: Political stability, Ease of doing business, Currency Risk, Trade Relationship with Canada
Customer Intelligence: Demographics of the market including potential market size/scope
Competitive Intelligence: Local Industry description and SWOT analysis of at least 2 major competitors
Recommendations: What should the export market strategy be for the company if they choose to enter this market?
- 5-6 pages
Some of the specific issues that your export market research report should cover include:
- Demand, growth, and price trends for the product.
- Consumer purchasing habits and cultural practices.
- The extent of the competition and who are the main competitors in a specific market or region?
- Market characteristics in terms of size, distribution channels, production, what do they produce, how do they distribute, how do they communicate and what are their strategies?
- The size of the market itself. How many inhabitants are there? How is the economy doing and what about the investment climate?
A typical report can be structured this way:
1. The Product – demand for the product, price trends, consumer purchasing trends for this product
2. The Competition – the extent of competition, SWOT analysis of main competitors
3. The Market – demographics of the market, operations in this market, geopolitical stability
4. Conclusion/Recommendation – summarize your findings, provide recommendations for a specific, targeted export market strategy for this company/product