流利说商务英语Level5 Unit2 Part3 Key Research Elements

流利说商务英语Level5 Unit2 Part3 Key Research Elements

Here are a few key factors to consider when conducting market research. ? Business regulations

Business regulations are laws that control the way businesses operate. Companies need to research business regulations before entering a new market. Otherwise they may be unaware of potential challenges waiting for them.

If they don't follow the business regulations of the country, they risk breaking local laws.

? Market segmentation

Market segmentation divides a company's consumers into different groups.

Consumers may be segmented based on demographics, location and consumer behavior.

This helps the company to understand the needs of different consumer.

The company segmented its demographics into several markets to target customers more accurately.

Market segmentation allows organizations to categorize the needs of different consumers and generate demand for their products.

? Industry trends

Industry trends are changes in the buying behaviors of consumers. A business has to pay attention to current industry trends to keep up with them.

For example, as E-commerce becomes more popular, retailers will need to sell online in order to reach more customers.

? Marketing channels

Marketing channels are ways in which consumers can access products and services. Retailing and wholesaling are common examples of marketing channels. Relying on a single marketing channel isn't advisable for any company.

Understanding industry trends is essential for a company to stay competitive.

Large companies usually have a number of different marketing channels to get their products to customers.

Businesses have to pay attention to the current industry trend to keep up with it.