International Market Research and Target Market Selection

About

The course unit builds on the foundations of the international business and marketing strategy and focuses on strategies and practices of international target market selection and market research activities, which provide information for decision making on market entry and target market selection. The course blends informative lectures with case studies and hands-on secondary market research exercises. The core topics are as follows: international market selection and the planning situation in the firm, analysis of international market environment, market analysis and understanding of customer needs and wants, competitor and environment analyses, the roles of culture and geography in international market research, segmentation, targeting and positioning,information needs and how to conduct basic secondary and primary market research, sources of information and their use, international market research organization, preliminary choice of target country and market segment (systematic vs. non-systematic, reactive approach), International market selection and its linkages to other parts of the international business strategy. The emphasis will be on the first-time market entry and internationalizing SME examples will be used. From that perspective we will:
1) Explore, how to set up objectives for international market re-search and gain an understanding of the data needs. We will use exemplary cases to discuss the problems and opportunities related to international target market selection.
2) Discuss on ‘target market selection’ approaches (systematic vs. non-systematic, reactive approach) and possible data sources and types.
3) Conduct primary and secondary market research activity project to find information about a specific case. What are the issues which need primary market research activities?

Course leader

Professor Olli Kuivalainen, LUT School of Business and Management

Target group

M.Sc. students

Course aim

The course aims to provide the students with the knowledge of the processes related to international market research and target market selection both from theoretical and practical standpoints. The main objectives of the course are:
1) to inspire students with the vision inherent in SME internationalisation, and demonstrate how to do target market selection,
2) to increase their awareness of the frameworks, tools and techniques used in international target market selection and market research, and also challenges and obstacles integral with international expansion planning,
3) to equip students with the insights, tools, frameworks, and skills necessary to international target market selection and subsequent market entry, and
4) to give students knowledge on how to prepare an international market research project.

Fee info