Exploring Latin American Markets for UK Bicycle Retailer Expansion

This report presents an international business research study focused on identifying potential markets in Latin America for a UK-based bicycle and outdoor clothing retailer seeking global expansion. The research aims to analyze which Latin American country (Brazil, Argentina, or Chile) offers the most viable market for the retailer's products and services. The report outlines the rationale, scope, and significance of the research, highlighting the importance of understanding customer buying behavior and market competition. It details the research objectives, including determining the concept of international market research for better decision-making, investigating potential markets, assessing best practices for global expansion, identifying potential markets in Latin American countries, investigating the research market for product preparation, and evaluating marketing tactics. The research approach involves qualitative data collection through interviews with employees from top companies in Latin American countries, utilizing non-random sampling to target businesses interested in international expansion. Key challenges associated with the research, such as finance issues, are also addressed. The report includes a questionnaire designed to gather relevant data for the research study.

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

relevant market for their products so that they can maximize their sales. International market
research enables the marketing administration to evaluate the effectual marketing functions to
carry out the task effectively. As the international market research includes all the activities
which enables the management team of the UK bicycle and outdoor clothing retailer company to
take effective decisions.
Significance of the research:
International market research enables the organization to develop their business in
potential market of the other countries. As this provide all the relevant information regarding the
market about the customer buying behaviour, competition in the market. This information can be
beneficial for the company to design the services and products accordingly. International
market research data is important as it enables the UK bicycle and outdoor clothing retailer
organization in their decision-making process so that they can prepare their strategy to deal with
the challenges in international market (Glavas, Mathews and Bianchi, 2017).
Aim:
To analyse which Latin American country has the potential market of to implement the
organizational strategies to sale their products and services.
Objectives for research:
 To determine the concept of the international market research for better decision-making
process.
 To investigate the potential market for the UK retailer of bicycles to provide cooperation
in decision-making process to expand in Latin American country.
 To assess the best practices of the international market research for the global expansion
of the company.
 To identify the potential market in Latin American countries to expand the business in the
international market.
 To investigate the research market for the retailer company to prepare the products
accordingly.

 To evaluate the marketing tactics to find the potential market in Latin American
countries.
The research approaches to accomplish the objectives of the research:
Research type:
Research approaches are the effective method which can researcher prefer to implement in the
research process. As for the data collection there are the type of data which is gathered by the
researcher. Qualitative data is the approach which is gathered by the open communication, in this
the data is collected by the researcher to conduct the interviews with the participants. Other
research approach is quantitative data which is based on the statistical patterns or on numerical
analysis data is gathered through the questionnaire. In this research study the researcher will
choose the qualitative data collection to complete the research topic to reach to the final
outcomes (Dubiel and et.al 2018).
Data collection:
Data collection method define as to collect the data to conduct the research study it involves the
two approaches which are primary and secondary data collection method. Primary data
collection refer as to obtain the data from questionnaire, interviews. Secondary data is collected
from the existed data which is from books and journals. For this research study Researcher will
choose the primary data interview method for gathering the data, by asking various question over
the topic so that the relevant data can be obtained. The interview guide for the qualitative
research involves all the relevant information regarding the research topic which will be asked by
the researcher to collect the data. In the interview guide researcher will involve all the research
question. For example for this researcher will ask the questions as the understanding of the
participants in International market research so that they can show their views and opinions over
the topic.
Plan to conduct the interview involves the conditions as for the researcher they have to
involve all the factors. As for the research interview they must decide the budget which is
required for the successful evaluation of the process. Researcher need to consider all the
circumstances which is associating in the interview process.
In this research study analyst will conduct the telephonic or software method to connect with the
participants (Zhao and Priporas, 2017). As due to the pandemic it is not possible for the

researcher to conduct the interview. For that purpose software meeting is appropriate so that
researcher will ask questions related to the topic. Research topic is to make find the potential
market in the Latin American country for the UK bicycle and outdoor clothing retailer
organization, who wants to expand their business activities to develop more revenues for their
business. For the meeting or interview researcher will require to inform the participants about the
timing of the interviews. So that they plan accordingly or to prepare for the research topic.
Target audience for the research:
Sampling: sampling generally define as the group of people who are selected by the research
analyst to obtain the information for the research study. It is divided in two process which is
random or non probability factor. In random sampling researcher will randomly choose the
people for research but for the non probability in which researcher use the biases to make
sampling. For this research study researcher will go with the random sampling. For this
researcher will select the random employee from the top companies of the Latin American
Countries to know the market situation.
Target audience for the research are those for which the research is conducting. As for
this international market research the target audience will be the businesses who want to expand
their business internationally. Due to the rise of technologies all businesses are implementing the
technicality factor in their product and services which is able to increase the customer base for
the company. Therefore, it also enables the organization to take step into the global market so
that it will develop the brand value of their company (Kumfor and McDonald, 2021). As for this
research study researcher will choose the non-random sampling as it define as it is the sampling
process where the selection is made on the basis of the factors rather than random sampling of
the people. As for the international research of the market researcher will consider those
organizations who wanted to expand their business. For that purpose analyst will begin to select
the participants who can give the information for the research. As for this research analyst will
enlist the top countries of the Latin America so that researcher begins to choose the top market
companies of the countries for the information. As the top countries of the Latin America are
Argentina, Brazil and Chile researcher will research and enlist the top retail market companies
of these countries. The sampling which can be made as researcher will choose the employees of

the top retail companies of the Latin American countries to obtain the information about their
market (Torres, 2021).
For gaining the access to the sampling population researcher will use the method as to
use the online method for asking the relevant questions to the participants. For this research
study research analyst will choose the 5-5 employees of from Brazil, Chile or Argentina country
‘s top company to organise the interview process. As due to the pandemic effect researcher will
not be able to go for the interviews. Therefore, analyst will set the series of question which is
prepared for asking in the research process. Researcher also provide the online agreement which
shows the active participation of the employees of the company in Latin American countries
which is enlisted as top as per the researcher's view.
The key challenges associated with the research
Key issues are those which is faced by the researcher to obtain the data for the research.
When researcher begin with the research process it is mandatory for them to start with the
effective strategy so that they have the backup plan to overcome all the issues which might
encountered in the evaluation process of the research. As for this research the major issues
might encountered in the research study are-
Finance issues:
For the good research study analyst always begin with the strategy or estimated budget which
enables the researcher to utilize the resources effectively. As for the research topic which is to
analyse the potential market of the Latin American country, for that research purpose researcher
will need to invest more on the transportation (Nogueira and et.al 2021). But for this research the
researcher will use the qualitative data by conducting the online interviews of the participants to
provide the relevant information related to the market to UK bicycle and outdoor clothing retailer
company. Therefore, for that purpose researcher will need to estimate all the budget process so
that it does not cause any problem in evaluation of the research.
Pandemic issues:
As in this research analyst have to conduct the survey on international market but due to the
Covid-19 pandemic it is impossible for the researcher to go across the borders to self collect the
information from the participants. This issue is the major for that purpose researcher will have to
face the problem in conducting the interview process effectively. As the timing zone of the

countries are different so that it is not possible for the researcher to bring all the participants at
the same time. As in this research the top enlisted countries of the Latin America are Brazil,
Argentina and Chile so countries have the different time zone. It is also impossible for the
researcher to visit the country as there will be more chances that chosen country are in Lock
down procedure (Ruggiano and Perry, 2019).
Network issue:
Network issue is the major which will be faced by the researcher as due to pandemic effect,
researcher will conduct the software meeting for the interview process. Therefore, if the network
error will encounter than it become a hinder for the successful evaluation of the research. As
researcher ask questions at certain time but due to any failure it does not deliver to the researcher
so that the relevant information can't be obtained in such conditions. Also, the time differences in
each country can be a major issue. For that purpose researcher will need to provide the hand
written question to the participants so that they can prepare their answers accordingly. It also
enables them to give the answer for the questions which is being asked by the researcher.
Insufficient data:
For this research study if the researcher is not able to obtain the information from the participant
then it will affect the evaluation of the research. As researcher might face the situation as the
participants are in other countries due to some failure or lack of interest of the participant will
ruin the process for research. Therefore, for that purpose researcher must need to provide the
consent form to the participants so that they will show their involvement by signing the form.
Through this researcher will get the access to the information.
QUESTIONNAIRE
Theme 1: What type of market demand in the Latin America country?
market demand in the Latin America country Respondents
Competitive 8

Direct or derived demand 7
Total 15
Interpretation: As per the above data table it is concluded that for that research question 8
employee stated that the market of the Latin American country is competitive, and 7 employee
said that the market demand is direct and derived.
Theme 2: Which economic sector is consider as the anticipated sector in Latin America
Anticipated sector of the Latin American
country
Respondents
Agriculture 10
Mining 5
Total 15
Interpretation: For the above question 10 employee said that the highly demanded sector is
agricultural market, and 5 stated that the mining is the anticipated sector of the country
Theme 3: Does the rise of competition in the market affects the business functionality?
Competition risk to the business Respondents
Agree 4
Strongly agree 6
Disagree 3
Strongly disagree 2
Total 15
Interpretation: As per the above data it is define that for the question of competition 4
employees shows their agreement that the competition affect the business operability, in which 6
employee shows their strong support. However 3 employee shows their disagreement on the
question while 2 employee also shows their strongly disagreement on the research question.

REFERENCES
Books and Journals
Aguzzoli, R. and et.al 2021. Here we go again: a case study on Re‐entering a foreign
market. British Journal of Management. 32(2). pp.416-434.
Dubiel, A. and et.al 2018. International-market-information use across new-product-
development stages: Antecedents and performance implications. International Marketing
Review.
Glavas, C., Mathews, S. and Bianchi, C., 2017. International opportunity recognition as a critical
component for leveraging Internet capabilities and international market
performance. Journal of international entrepreneurship. 15(1). pp.1-35.
Koch, B., 2018. International market overview & forecast. Billentis. Obtenido de https://www.
billentis. com/einvoicing_ebilling_market_overview_2018. Pdf.
Kumfor, F. and McDonald, S., 2021. Research methodologies, brain correlates, cross-cultural
perspectives. In Clinical Disorders of Social Cognition (pp. 52-80). Routledge.
Nogueira, P.J. and et.al 2021. Research methodologies to assess the impact of COVID-
19. European Journal of Public Health, 31(Supplement_3), pp.ckab164-175.
Pattnaik, C., Singh, D. and Gaur, A.S., 2021. Home country learning and international expansion
of emerging market multinationals. Journal of International Management. 27(3). p.100781.
Ruggiano, N. and Perry, T.E., 2019. Conducting secondary analysis of qualitative data: Should
we, can we, and how?. Qualitative Social Work. 18(1). pp.81-97.
Torres, R.A., 2021. Research Methodologies. Critical Research Methodologies: Ethics and
Responsibilities, p.24.
Zhao, S. and Priporas, C.V., 2017. Information technology and marketing performance within
international market-entry alliances: A review and an integrated conceptual
framework. International marketing review.
APPENDICES
1. What type of market demand in the Latin America country?

Competitive
Direct or derived demand
2. Which economic sector is consider as the anticipated sector in Latin America
Agriculture
Mining
3. Does the rise of competition in the market affects the business functionality?
Agree
Strongly agree
Disagree
Strongly disagree