International Marketing Research

884 WordsFeb 25, 20183 Pages
International Marketing Research Conducting An Industry Overview: In order to conduct international market research for a retailing firm entering a new country, it is important to identify the overall industry growth trends and upcoming market changes of that particular market and to consider the situation of the retailing industry at the international level. As the competition in the retail industry is growing, at the domestic as well as international level, there is a need for structural reform and change in the business model of the industry. It has been noted that the recent developments in technology, especially in information technology sector, has directly influenced the retailing industry. The retail industry has been the major consumer of new technology and therefore any change or development in technological terms has a direct influence over the industry. With improvements in technology, retailing firms begin to adopt new business processes, which were new to their traditional business setup. There has been an increasing level of use of the electronic data interchange system, which helped the retailers to effectively process their business information and maintain records of the whole setup at a single location. This allowed them to make timely and effective decisions, as the information was easily accessible to them allowing them to keep a close watch on their businesses. Use of newly developed technological devices such as laser & self-scanning devices and point
Open Document