If you have a great product or service, you are sure to want to market it to a larger audience. But how do you know where and when you should launch it, and whether the market is ready to accept your product. The answer could well lie in market research.
What is Market Research?
Market research is the process of systematically gathering, recording and analyzing data about customers, competitors and the market. Multilingual market research is conducting market research in more than one language.
Why Multilingual Market Research?
Multilingual market research can help your business:
- Develop an accurate business plan before the launch
- Accurately understand the competition an already existent product may have
- Expand into newer market segments
What does Multilingual Market Research involve?
Like all other market research, multilingual market research includes:
- On-line data collection
- Audience /communication research
- Qualitative research
- Face to face surveys
- Telephonic surveys
- Advertisement research etc
When a company is planning to enter a new country, multilingual market research can prove to be a big hurdle, not just because of the language barrier, but because of the need for understanding local cultural aspects as well. Thankfully in the age of outsourcing, numerous companies actually offer services in multilingual market research.
These companies have teams of qualified linguists and researchers. This team of researchers will translate the questionnaires and other documents into the local language and conduct the research in the language of the populace being researched. This allows the outsourcing company to focus on its core area, namely refining the business strategy and sales.