International Market and Trade Research in Ireland

Although there’s a lucrative offer outlaid, companies are faced with many barriers internationally which could lead to pitfalls. Therefore it is important that an international market research is conducted to understand customer’s needs which will give managers information on constructing a strategic decision before exploiting the market. This report mainly covers the barriers of conducting a market

Exporting plays an important role for a small country like Australia, which has a very small domestic market (ATC 2014). It increases competitiveness as there will be increased level of competition with more firms in the global market which will encourage to make every effort for the best business practices, most innovative techniques, best use of technology and so on (ATC 2014). The evidence also show that exporting help the long-term survival of firms in the economy (ATC 2014). This is because they enjoy faster sales and employment growth than non-exporters enabling a higher rate of survival and contributing to increase in the economy (Amiti & Davis 2012). The expansion of sales across borders will

Marketing research before entering into the global market is good decision for companies. However, some companies will overlook and flat out ignore this process which will lead to missed benefits of marketing research such helping the company communicate better, assist in identifying opportunities, minimizing risk and creating benchmarks to assist in the measure progress. Johansson states that “As in purely domestic marketing, to better understand the local customer requires marketing research” (Johansson, pg215). Not all marketing research is successful when trying to understand the local buyers. Companies encounter various difficulties when conducting market research on local buyers in the global market. For example focus groups are a great form of market research however the problem with focus groups in the foreign market as stated by Johansson “they can also constitute an unrepresentative sample because typical screening criteria are incorrect in the new environment or are not implemented correctly and moderators—and the research firms—are usually specialized in certain products and customers, and may be less than ideal for other consumer groups” (Johansson, pg 217). There is also explanatory marketing research. This is when the marketing research provides and attitude and preference of the buyer on a certain product. The goal of this research is to identify if the if price

As part of the Business in Global Environments course, the students are assigned to create a research paper that explores how an American company undergoes international trade. This first paper presents an American company looking to expand its product internationally to a particular country. In my particular case, Lucero Olive Oil will be exporting its olive oil to China. Lucero is an olive and olive oil producer in Northern California. Its olive production has been prominent for 27 years, starting in Corning California. In 2005, Lucero Olive Oil began marketing olive oil and quickly became a prominent extra virgin olive oil supplier in America. In this short time, Lucero has

Prior to joining Ibec he was a senior economist at both the Economic and Social Research Institute (ESRI) and the Central Bank of Ireland. He has held lecturing posts at Dublin City University, University College London, University of Oxford and Trinity College Dublin. He has been a consultant for the European Commission and the OECD. He is a member of the Irish National Competitiveness Council, the National Economic and Social Council and the Export Trade Council.

From analysing Knit’s Away current position, I have suggested some steps for them to follow in order to start the process of selling their products outside the Irish market.To start off, Knits Away should be aware of the recognition there brand has have already achieved and see how they can use this to their advantage in order to enter new markets. The fact their jewellery has been recognised by European designers and have been featured in European fashion magazines such as UK Elle and UK/Italian Vogue. I advise them to build even more brand awareness by continuing their relationships with the European designers and magazines. This is huge for a small Irish business so it will really boost them. Therefore the first step in the globalisation of Knit’s away in my opinion is to enter the European market

The company already has concurred Irish market. They are defined as “the leading irish supplier of smoothies”. It's now time to see big and consider to go internationally. Fruits First have the potential to grow. Entering International markets would be a huge opportunity for the business. This will increase profits,sales and the company market.

June 23rd, 2016, 51.9% of the UK electorate voted to leave the European Union. The then French Prime Minister, Manuel Valls, described the decision to leave the EU as an “explosive shock” and stated that “now is the time to invent another Europe” (BBC news). What has followed since is a period of economic “turmoil and uncertainty” (Mazars). However, this “explosive” decision could be used to Irelands advantage and as a tool to “invent” another Ireland. Ireland presently has all the means and resources to capitalise on the multinationals that are sure to move out of the UK following Brexit. Ireland is in a prime position as a relocation spot for these multination’s due to its attractive corporation tax of 12.5%, one of the lowest in Europe,

Exporting is a common method of market entry. The main benefit is that it has low fixed costs, and allows a company to utilize pre-existing production, and eventually to improve economies of scale in production. There will be importers, agents and wholesalers on the foreign side who handle much of the work, mitigating certain cultural and political risks. The downside of exporting is that the company loses some control over its product and its

It will also deeply focus on a systematic approach in order for them to export their products to other countries (Cavusgil, Knight & Riesenberger, 2014). It will also specify specific entry strategies that could be implemented into entering the chosen country that would be best for the country that the direct method of exporting will be recommended and why it would be better for the firm. Also, recommendations on which skills to gain in order to do business internationally will also be provided. It will then be ended with the chosen

Exporting has heavily impacted and increased globalization over the years. Exporting can increase profitability and has proven successful as shown by the European Union who exported over €90 billion in 2010 in just the agri-food industry (Fernández-Olmos et al., 2014). Companies that choose to participate in exporting can either choose to export directly or indirectly. Direct exporting is the process whereby firms engage in direct exchange of goods and service in international markets without using intermediaries. In this instance, the firm is directly involved with all the aspects of manufacturing, marketing, and managing the transaction to

Whenever any business jump into the international market, first know what is the basic needs of customers as well as our product demand in the market. Also should measure the competition level in the market .

The republic of Ireland lies to the East of England and Wales with an estimated population of about 4.5 million. Its well infrastructure in terms of communication and ICT, stable legal system, low corporate tax and other incentives have been put in place through the Industrial development Agency (IDA) have been attracting foreign investments. Ireland has most of the world's best financial firms and a young highly skilled and available labour force that can be utilized by the foreign investors.

If the local market for a product is larger and more demanding at home than in foreign markets, local firms potentially put more emphasis on improvements than foreign companies. This will potentially increase the global competitiveness of local exporting companies. A more demanding home market can thus be seen as a driver of growth, innovation and quality improvements.

International marketing research plays an important role in the identification and development of a company’s strategies for internationalization. It enables a business to identify, evaluate and compare potential foreign market opportunities and develop a marketing plan. Research also provides a company with foreign market intelligence to help it anticipate events, take appropriate action, and prepare for global changes. Can you please give me the feedback about my project so I can improve my performance for the future work?