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International Trade Research

FITTskills: International Trade Research introduces an essential component of conducting international trade: researching international markets. International trade research enables companies to identify and gather the information they need to make effective decisions about when to engage in international trade and which markets will be the most profitable. It also enables companies to avoid potentially costly trade and investment mistakes.

Many companies view international trade research as time-consuming and expensive, and might therefore make important trade decisions without sufficient information. Wise companies know that research is an essential cost of doing business and an integral part of marketing a product or service. Because of the importance of international trade research to strategic decision making, companies should ensure that research is carefully planned, conducted by experienced researchers and managed at all stages. The costs of conducting an effective research program are minimal compared to the costs of making the wrong decisions.

International trade research is a process that involves planning and collecting data about international markets. This data can be obtained from many different sources, including published sources, the Internet, company colleagues, suppliers or customers. International trade researchers also use common market-research tools, including focus groups and questionnaires, to obtain information about target markets.

This course describes the essential basics of international trade research. It explains the importance of research in the success of all international trade ventures, including exporting, importing and foreign direct investments. The use of research to develop intelligence about international markets and competing organizations is also covered. Several chapters run through the processes of planning and implementing research, finding effective information sources, gathering information in the most effective manner and developing an effective system for managing research information in an organization.

After completing the course and the accompanying in-depth research assignment, you will have acquired a solid understanding of the need for research and the business decisions it can be used to help with making. You will be able to plan an international research project that will meet the information requirements of company decision makers and know where to obtain the required information. You will be able to design tools for collecting data, such as questionnaires, and to adapt them to international markets. You will also understand how data are analyzed to develop intelligence about markets and competing organizations and be able to prepare reports and presentations that will effectively transmit your findings.