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SCM 4351 - Strategic Sourcing and Spend Analysis (Wayhan)

This guide was designed to help with the Halliburton Strategic Sourcing Competiton

International Market Research

A magnifying glass over two sheets of paperInternational market research is important to businesses because it can provide information about the market, regulations, infrastructure, competitive landscape, and consumers. Upon careful analysis, businesses can determine which method of entry can help them effectively and efficiently sell their products.

International market research is vital because the business environment is often in a state of constant and dynamic change and the data to evaluate these environments can be costly, subject to restrictions, or may not be available through conventional data collection channels such as government agencies. 

International market research should help researchers determine:

  • Customers desires and needs
  • Suppliers, distribution channels, packaging, and pricing
  • Available of technology and skilled labor force
  • Competitor profile
  • Ease of doing business, method of payment, corruption, and political climate

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