An expanding marketing approach needs both local and international market research. The former helps in understanding the local market, while the latter keeps everything within the company’s overall vision.
As a company grows in size, it starts looking for additional markets. With the world markets opening up, there are newer and greener pastures to be found everywhere. However, before one takes the plunge it is important to know the market.
This is where local and international market research comes in. Each works together in creating a comprehensive marketing plan that addresses local concerns, while keeping in mind the firm’s international aims and scope. So, how do these work in tandem?