Donie, CEO of a multinational tourism and leisure company, is researching cross-country differences in demographic, cultural, and market conditions. She would not likely discover that Nike produces its own line of skate shoes. Keurig has acquired a large coffee farm in Costa Rica. Scotland provides low-cost loans to U.S. craft whiskey distillers seeking entry to its markets in order to stimulate competitive rivalry. Intel's silicon chips are identical across the world. McDonald's offers 100 percent beef-free products in its outlets in India.

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Market Research Methodology

Market research refers to employing strategies, collecting data, and studying the target audience of a product by an organization. Businesses analyze customer data to figure out consumer trends, improve product design, improve user experience, develop customer-centric marketing campaigns, generate high-quality leads, and boost conversion rates. Phone surveys, test marketing strategies, and focus groups can be used for marketing research.