The Role of Market Research in the Internationalization of Small and Medium Enterprises

Table of Contents

1 Introduction

1.1 Theme of our Study

1.2 Company and Product Introduction

1.3 Objective and Purpose

1.4 Strategic Question/Problem Statement

1.5 Research Questions

1.6 Target Group

1.7 Delimitations

2 Methodology

2.1 Topic Selection

2.2 Research Approach

2.3 Data Collection

2.4 Purpose of Primary Data Collection

2.5 Primary Data Collection Method

2.5.1 Semi Structured Interviews for market survey

2.5.2 Non Structured Interview with Company Owner

2.6 Analysis Method

2.6.1 Statistical Analysis

2.7 Literature Review

2.8 Presentation of Findings/Results

3 Critical Literature Review

3.1 Uppsala internationalization model (U-model)

3.2 International Entrepreneurship Theory

3.3 Marketing Mix

3.4 Theories supplementing Marketing Mix

3.4.1 Skimming versus Penetration

3.4.2 MEC approach

3.4.3 The Kano Model of Customer Satisfaction

3.4.4 Network Theory

4 Theoretical/ Conceptual Framework

4.1 International Entrepreneurship Theory

4.2 Target Market Selection

4.3 Marketing Mix

4.3.1 Product

4.3.2 Price

4.3.3 Promotion/Advertising

4.3.4 Place

5 Empirical Data Findings

5.1 Denmark

5.2 Italy

5.3 France

5.4 Interview with Gunnar Widforss

6 Analysis

6.1 Target Market Selection

6.1.1 Presentation of Market Trends

6.1.2 Uppsala Model

6.1.3 International Entrepreneurship

6.2 Price (Skimming Vs Penetration)

6.3 Product (Kano Model)

6.4 Advertising / Promotion

6.4.1 Presentation of Market Trends

6.4.2 MEC Approach

6.5 Place

6.5.1 Presentation of Company’s Approach

6.5.2 Network Theory

7 Conclusions

8 Recommendations

8.1.1 Theoretical Aspect

8.1.2 Practical Aspect

9 Limitations of the Study

10 Future Research

11 References

Research Objectives and Focus

This thesis aims to provide innovative Small and Medium-sized Enterprises (SMEs) with a strategic framework to evaluate the marketability of their products and to effectively exploit international business opportunities. By utilizing a Swedish case study, the research investigates how marketing research can reduce the risks associated with early-stage internationalization.

• Role of marketing research in SME internationalization.
• Development of the International SME Model of Innovation Exploitation (ISMIE).
• Application of the Proactive International Entrepreneurship (PIE) model.
• Strategic analysis of international market entry for innovative products.
• Integration of marketing theory with practical case study findings.

Excerpt from the Book

Summary of Chapters

1 Introduction: Provides an overview of the challenges faced by SMEs in early internationalization and introduces the research topic and objectives.

2 Methodology: Explains the case study approach, data collection methods including surveys and interviews, and the analysis techniques applied.

3 Critical Literature Review: Critically reviews foundational theories such as the Uppsala model, International Entrepreneurship, and Marketing Mix theories.

4 Theoretical/ Conceptual Framework: Presents the newly developed ISMIE model, which integrates various theories to guide SME internationalization.

5 Empirical Data Findings: Details the primary data collected from consumer surveys in Denmark, Italy, and France, and includes an interview with the company owner.

6 Analysis: Analyzes the empirical findings by applying the theoretical framework, focusing on market selection, pricing, and distribution strategies.

7 Conclusions: Summarizes the research outcomes and confirms the validity of the developed models for practical application.

8 Recommendations: Offers strategic advice for the case firm and future researchers regarding theoretical application and market entry.

9 Limitations of the Study: Discusses the boundaries of the research, acknowledging constraints related to sample size and generalizability.

10 Future Research: Suggests potential avenues for expanding the study on a broader European scale with larger datasets.

11 References: Lists the academic sources and literature utilized throughout the dissertation.

Keywords

SME Internationalization, International Entrepreneurship, Marketing Research, Innovation Exploitation, Uppsala Model, Market Entry Strategy, ISMIE Model, PIE Model, Consumer Behavior, Competitive Advantage, Market Sensing, SME Strategy, Product Development, Pricing Strategy, Network Theory.

Frequently Asked Questions

What is the core focus of this thesis?

The thesis focuses on how innovative SMEs can utilize marketing research to strategically exploit international business opportunities during their early stages of internationalization.

What are the primary themes covered?

The primary themes include SME internationalization, the role of entrepreneurial drive, market research, innovation exploitation, and the application of strategic marketing frameworks.

What is the main objective of the research?

The main objective is to provide SMEs with a theoretical model (ISMIE) and a practical framework to analyze product marketability and reduce risks when entering foreign markets.

Which research methodology is employed?

The study utilizes a qualitative case study method, incorporating both primary data collection through face-to-face interviews and secondary data from existing academic literature.

What is discussed in the main analysis section?

The main analysis evaluates empirical findings from Denmark, Italy, and France against theoretical models to recommend the best market entry path for the case firm.

What are the characterizing keywords of this work?

Key terms include SME Internationalization, International Entrepreneurship, Marketing Research, Innovation Exploitation, and Market Entry Strategy.

How does the ISMIE model function?

The ISMIE model integrates market information, the Uppsala model, and various marketing mix theories to create a systematic approach for evaluating foreign market entry.

Why was Denmark identified as the primary target market?

Analysis of the survey data showed that Denmark had the highest consumer demand and the most favorable conditions for the company's innovative bike-carrying solution.

What role does the company owner play in the research?

The company owner provided strategic insight into business plans and distribution needs, which were essential for analyzing the company's network and partnership options.