While market research is obviously essential before the creation of a company, it is not the only time when the different techniques that make it up can be applied. Entering a foreign market (for example, an export market) is another case where market research is crucial. Not only is this a new market for you and your company, but it is likely that this export adventure will be further complicated by the lack of knowledge about the competition that prevails, the impact of possible cultural differences, the demand in this market for your products or services. How to carry out market research when you want to export? This is the subject of the presentation that we will give at Hub Brussels, the Brussels agency for entrepreneurship, on 14/06/2019 from 10am.
A 7-step market research method
As part of the workshop organised by Hub.Brussels for Belgian companies wishing to export, our presentation will be based on the 7-phase market research method that we have described in our online market research guide and which is the result of our internal developments over the last 10 years.
We will focus in particular on the aspects related to documentary research techniques on the one hand, and to PESTEL and competition analyses, on the other hand, 3 issues that we believe are particularly important in the case of launching into a foreign market.
As a reminder, the PESTEL analysis (Political – economic – Sociological – Sociological – Technological – Technological – Ecological – Legal) is an efficient analytical framework that allows you to systematically review all the external factors that can affect your project and are therefore beyond your control.
The competition analysis, conducted for example using the analytical framework of the 5 Forces de Porter, will allow you to understand the competitive dynamics of a market clearly.
There are of course many other techniques that could be used to carry out complete market research, but in the time available we have chosen to focus on the essential. However, if you have any questions about export market research, we will be happy to answer you directly. Please do not hesitate to contact us if you have any questions.
Call for volunteers to test an online market research tool for free
The workshop organised by Hub.Brussels will also be an opportunity for us to announce the launch this year of our online platform for your market research. With the help of interactive tools, questionnaires and resources at your disposal, you will have the opportunity to be guided step by step through the process of conducting your market research. As part of the development of this platform, we will be looking for volunteers to test it and give us their feedback. The first call for volunteers will be made on June 14 at Hub.Brussels to meet the needs of project leaders as closely as possible.
Image: shutterstockTags: market research belgium, market research brussels, market research methods