Market Research for Eureka Introduction Eureka is a company that has been operating globally. Recently, it has developed a product that has been guaranteed to be a success in any country that has large population. But before the management of Eureka decides which country would be ideal for its new product, it needs to conduct market research and find out the most ideal country. Eureka commissioned an independent researcher to do the market study for them.
Objectives of the Research This research aims to find out the most ideal market for the new product of Eureka. Specifically, it aims to:1) Identify the most populated countries and the countries with highest population growth rate;2) determine the countries most marketable for Eureka’s new product. Discussion Based on the findings of the market research, the following are the top countries based on the population size and their corresponding growth rates http://www.geohive.com/global/pop_data1.php: 1China0.59%2India1.
38%3United States of America0.91%4Indonesia1.41%5Brazil1.
04%6Pakistan2.09%7Bangladesh2.09%8Russia-0.37%9Nigeria2.38%10Japan0.02%But based on the growth rate, the following are the countries with large market potential: (http://www.geohive.
com/global/pop_data1.php) 1United Arab Emirates6.512Qatar5.863Timor-Leste5.
429Uganda3.4010Niger3.39But in terms of FDI, the developed countries such as the USA, UK, Germany, Ireland, Japan and Canada continue to be the top destination of FDI garnering more than three-quarters of global inflows. (http://www.unctad.
org/Templates/webflyer.asp?docid=2482&intItemID=1528&lang=1). It is therefore important to consider this factor aside from the rate and volume of population for the potential target country for Eureka’s top product. References: http://www.geohive.com/global/pop_data1.php viewed on July 2, 20062005 World Population Data Sheet, Population Reference Bureau http://www.prb.org/pdf05/05WorldDataSheet_Eng.pdf viewed on July 2, 2006