International Market Research for UK Bicycle and Outdoor Clothing Retailer

INTERNATIONAL
BUSINESS RESEARCH
TASKS

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
Background of the research topic:...............................................................................................3
Rationale for the research:...........................................................................................................4
Scope of the research:..................................................................................................................4
Significance of the research:........................................................................................................5
Aim: ............................................................................................................................................5
Objectives for research:...............................................................................................................5
The research approaches to accomplish the objectives of the research:......................................6
Target audience for the research:.................................................................................................7
The key challenges associated with the research.........................................................................8
QUESTIONNAIRE.........................................................................................................................9
REFERENCES..............................................................................................................................11
APPENDICES...............................................................................................................................11

INTRODUCTION
Background of the research topic:
Market research can be defined as the effectual process of implementing viability of the
product and services. Market research was first coined in the year 1920, when the person name
denial Starch create a theory which states that the advertisement can be seen, believed, he begins
with his colleagues to ask the people on street about the publication of certain product. With the
help of research it enables the businesses to directly interact with their potential customers.
International business research which businesses conduct to expand their business globally.
Study provides a relevance as how globalization has brought new opportunities for the
organization to grow their revenues (Pattnaik, Singh and Gaur, 2021). It also enables the
organization to develop large customer base which can be beneficial for their company's growth.
Market research will provide the extreme benefit to the organization, good market information
can enable the businesses to target their segment. This information which can implemented by
the organization to take appropriate decisions to design the product and services which can grab
the attention of the people. UK retailer of bicycle and outdoor clothing wants to select the better
market opportunity in international market. They have the good market position in their
supermarket field. Company is looking for the expansion of their business in Latin American
country so that they can successfully evaluate their business practices across the world. The
potential market can be seen in Latin American countries are Brazil, Argentina or Chile. Market

research can be conduct to identify the potential customer in these countries so that businesses
will proceed to established their business in these Latin American countries.
Rationale for the research:
The reason for conducting this research is to provide the information about the potential
market to the organization. As due to the rise of globalization which involves the emergence of
technology is anticipating the world. Globalization is creating opportunities for the firms to grow
their revenues by establishing their business in international market. Technological aspect is also
emerging day by day. It develops the competition in the market. Therefore, this research study
will help the organization to design their products and services accordingly (Aguzzoli and et.al
2021). This research study will provide the information regarding the countries which have the
potential market through which the businesses can implement their services and products to earn
profit. Therefore, the researcher has chosen this topic for the discussion so that it can provide
better data for research. Thus, the market research will enable the organizational management to
take effective decision to expand internationally. The main purpose of the proposal is to know
the better market opportunity in South American countries. As the retailer organisation of
bicycle and outdoor clothing wants to develop their business internationally, therefore they have
asked their market researcher to give them relevant information so that they can proceed to make
decision about the country or to design their product accordingly.
Role of the researcher
Researcher work is to conduct the research of the South American country's market, so that it
will guide the UK retailer Bicycle and outdoor clothing organisation to make effective decision
to expand in such market. Researcher will also do the interview of the participants who belong to
large organisation of such country's potential market. Through the information collected from
interview it will help the organisation to build a strategy to design the product according to the
market demand of the Latin American country.
Scope of the research:
The research topic on potential market research is broad in its aspect. It begins from
identification of the customer needs to implement the strategies to satisfy their requirements. It
involves the research for the potential customers, market segment for advertising the products to
grow the revenues (Koch, 2018). Scope for the research topic allows the organization to search