e for some industries to ignore the global market place because they are interrelated.In addition, data relating to the specific product market should be collected. This would include information with regard to sales volume of product, product usage, durability of a product, and repeat purchase rates for non-durables. Data relating to complementary or substitute products should also be obtained (for example, automobiles for tires or film for cameras). Another aspect that is extremely important is the competitive market structure. This would be information on the number and size of competitors, their sales volume, rate of growth, and relative market share. Why is it that some companies do not participate in adequate market research? Possibly, the answer to the question is simply high costs to obtain the information. However, in the long run, it is extremely beneficial for any company going abroad to get information to lower their risk in the global market. Studying International management will broaden any company wanting to expand and help to assure the success of such an endeavor. Knowledge is key to expanding into the international domain. ...
