The Benefits of International Market Research - Gaugas Tatiana

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Forecasting - Research yields a set of assumptions about the future that are critical to managerial decision making. Most strategic decisions in companies are based on an extensive set of assumptions about the future. For example, firms forecast demand for products in new markets. As the future becomes the present, many of these assumptions prove to be inaccurate or false. Research provides time-ly reports and recommendations that can assist in updating these assumptions and aid executive management in strategic decision making about current and future value-chain activities. Research also helps with “hypothesis testing”—that is, assessing theories or “gut feelings” that the firm may hold regarding particular issues. For example, the manager may suspect that there is a difference between the purchasing habits of one type of customer as compared to an-other type, a question that can be addressed via hypothesis testing. ...