You are
here: Step
7: Selecting and researching potential countries/markets
abroad > Implementing the research brief > Evaluate
the shortlisted countries in more detail > Circumstances
favouring in-house research |
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Circumstances
favouring in-house research
The term "in-house" research basically
means that you do the research yourself on behalf of your
firm, rather than appointing a specialist research agency
to do the work. In reality, most smaller exporters simply
cannot afford to pay the sort of fees that specialist
research companies charge and will end up undertaking
the research themselves. To help smaller exporters do
the research themselves, ExportHelp provides a research
advice page. Exporters may also choose to do their
own research for other good reasons, such as:
- You wish to develop in-company expertise in market
research. Companies sometimes establish in-house market
research facilities to develop their own expertise. Reliance
on the abilities of others, such as market research agencies,
can lead to the knowledge about a particular market or about
market research techniques in general being stifled.
- You have long-term objectives in respect of foreign
market development. If your firm is developing export interests
in a number of markets and your export activities constitute
a large proportion of sales turnover, it might prove to
be cheaper to develop in-house facilities than to continually
employ the services of a research agency, even if you can afford the services of such an agency.
- Specialist knowledge is a prerequisite for investigating
the market and no agency specialising in the market/industry
in question is available. In such a case, you might find
it more economical to use your own facilities than to spend
a considerable amount of time briefing an outside agency
on the peculiarities of the product. This is particularly
relevant in the case of high-tech items where a detailed
knowledge of the product is necessary to effectively carry
out the research and to speak in a credible manner to respondents,
potential buyers, etc.
- You already have trained researchers with the appropriate
linguistic and technical ability and foreign experience.
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