International market research is an indispensable part for cross-border e-commerce enterprises. Without research, cross-border e-commerce enterprises are prone to make wrong decisions in the course of operation. For example, they decide to produce a certain product and spend a lot of money on production, but not many people buy it when they sell it. The main reasons for poor product sales are as follows: unclear market conditions, poor sales channels, unrealistic pricing, lack of strong advertising, etc. Therefore, only by conducting serious research and clarifying the needs of the international market, the promising sales market, and establishing the most optimized export commodity structure, market capacity and its development trend, expected price changes, etc., can the sales problem of export commodities be solved smoothly.
Scope of international market research
The scope of international market research is very wide. It involves various fields such as politics, economy, culture, policies and regulations of different countries or regions, including the following aspects:
(1) Political factors. We need to study the relevant political conditions, conditions and changing factors in different countries or regions that can affect the development of trade. For example, changes in certain policies and measures, the stability of the political situation, etc. may make certain business activities very smooth, or may restrict the progress of certain business activities.
(2) Economic factors. Economic factors are directly related to the scale and development trend of a market and are the main aspects of market research, such as the good or bad economic situation, changes in economic structure, residents’ income level, market competition, etc. They are very important reference materials for correctly analyzing and judging the market situation of a country or region, as well as the supply and demand situation of the market and formulating appropriate transaction prices.
(3) Consumer factors. This mainly includes psychological research on consumer consumption habits, consumption structure, and purchasing motivation, with the aim of making products more able to meet consumer needs and be marketable.
(4) Technological development factors. Researching technological development factors means paying attention to understanding the trends of technological development and its application, studying the dynamics of product development, the emergence of substitutes, changes in product structure, etc. Studying these factors will help companies analyze product and competitive situations, grasp trade dynamics, have a clear mind, and reduce blindness.
The scope of market research is very broad. In order to effectively enter and consolidate the market, in addition to the above factors, we must also pay attention to factors that affect commodity supply and demand and natural factors.