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!