2. International Market Research

International market research is the process of gathering and analyzing information about potential markets outside one’s home country. It helps businesses understand local consumer preferences, cultural differences, market trends, and competitive landscapes. By exploring these factors, companies can make informed decisions about product development, marketing strategies, and entry into foreign markets. This research is essential for minimizing risks and maximizing opportunities in global business expansions, ensuring that offerings resonate with diverse audiences and adhere to local regulations and practices.