International Marketing-Market Research

Discuss the issues and difficulties for an Australian firm undertaking market research in Nigeria . How would you decide whether to use an Australian based or local research firm

Introduction

With the onset of the ever dynamic world , international trade could never have been more different . Growing opportunities give rise to increased challenges . The world is getting smaller by the hour , and more and more accessible markets are ever evolving . At the same time variables increase in multitude that make this situation ever more complex . In such a time , any country wishing

to formulate trade links within the domains on another country has to make a very thorough analysis . A market evaluation becomes imperative in to ascertain the best course of actions for both countries in general , and the investor in specific

A similar condition comes under scrutiny when Australia considers to invest in Nigeria . It is not only about another country , but about another continent , another culture , another geopolitical scenario . So the economic stance takes somewhat of a back seat unless other important issues are taken care of . Under mentioned is an analysis of the investment scenario in Nigeria vis-a-vis Australia , and what can be the most effective strategy for market research in the former

Market of Nigeria - An Overview

The Directorate of Foreign Affairs and Trade , Australia , while explaining the country pro with respect to trade describes on its site

Over the 45 year period since gaining independence from Britain in 1960 , Nigeria experienced many years of civil conflict , political upheaval and a succession of military governments . In May 1999 , the democratically elected government of President Olusegun Obasanjo assumed power and was then re-elected for a second term in May 2003 . However ethnic and religious tensions remain and this sometimes leads to outbreaks of sectarian violence . The imposition of Islamic Sharia law in several northern states led to deep divisions within the country

This depicts the stance that Australia has about Nigeria . Nothing negative , but factually speaking , when one has to conduct marketing research and ultimately trade in a country , it is very important to consider the political scenario within the country . In light of the same , they further add , Nigeria 's economic development has been uneven . Despite the country 's relative oil wealth , poverty is widespread . The potential benefits of the oil boom of the 1970s were severely diminished because of corruption and mismanagement and the Nigerian Government is assessed by many as failing to deliver basic services effectively (DFAT

Nigeria is Africa 's most populous country with over 120 million citizens and arguably the most culturally diverse society in the world . The country is basically a mono-cultural economy , which is highly dependent on oil . The oil and gas sector accounts for over 90 of the country 's foreign exchange earnings . GDP for 2003 was 43 billion with agriculture and the manufacturing sector contributing 34 .6 and 38 .2 respectively (BUYUSA . The decline in Nigeria 's agricultural and manufacturing capacities has continued to increase the country 's...