The internet has a lot of information although its applicability is dependent on many other factors including locality, market segments, economic development in the locality and cultural orientation. However, availability of information is not the main problem but its applicability to success. In this case, this organization is carrying out the feasibility of the possibility of a multinational setting up a manufacturing organization plant in a new country. This will require factual information about the country, the market, competitors, pricing etc. In some cases, such information is shared although the level of trust is different.
Further, given this is a multinomial company, shared information is lopsided and may not be aimed at maintaining a strong customer base. In this case, such information cannot be shared and thus first-hand information will be required. According to Maxwell (1996), more often companies make their decisions without prior information which is made available by carrying out a market research and the number of organizations that employ the use of formal market research in formulating strategies is very small. To him, the perceived huge investment in carrying out a market research is deemed not necessary.
Internal information can be of importance and can make the organization not to invest so much if the information is considered reliable and valid. Literature ReviewMarket analysis is very important and should be based on factual data. According to Marczyk, (2005), lack of factual information means that the decisions to be made are not tangible. The internet has a lot of information whose applicability is dependent on many factors which include the business locality, market segments, economic development of the locality and cultural orientation.
Marczyk assertions are supported by Arnold and Myers (2005) who argue that availability of information is not the main problem but its applicability with success.
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