Post on 23-Dec-2015
Marketing Research Proposal
November 5, 2010
Business in India
• The global market is expanding to include
India
– Increasing economic stability
– Large consumer base
– Growing interest in health
Current information
• Trends point to excellent market
– Consumer has ↑ disposable income
– Customer interested in newest products
• Current market booming
• Large population still unmet need
• Market to health conscious individuals
New information required
• Despite research gains
– New research needed
• Do careful market research
• Survey potential consumers
– Better understanding of clientele
– Look to meet current demand
Problem statement
• India has a huge population
• India has a stable economy
• We are looking to expand our sales to this
area
– How to maximize our global presence
– Keep sensitivity to local customs
Research objectives
• Culture quite different from Western
environment
– Determine needs of Indian people
– Discover who likely customers may be
– Perform research regarding most likely market
– Do not wish to be seen as outsiders only
– Seek a partnership with local companies
Research design
• Market research
– Surveys of likely customers
• Use locally acceptable language
• Seek to reach a wide portion of the populace
• Can be verbal and written
Research design
• Market research
– Attempt to understand culture barriers
– Be prepared for misunderstandings
• Have an interpreter available
• Develop extensive study BEFORE starting in India!
• Spend time there as a tourist only to understand locals
Summary
• We are looking to expand in to global market
• India is a large population with ↑ capital
– Culture vastly different
– Looking to understand and appreciate differences
– Hope to meet needs of current customers
• Must be done with sensitivity!