The Importance of Market Research in Repairing the World Economy, BRIC by BRIC
We all know about the BRIC countries, Brazil, Russia, India and China. These countries are widely regarded as a one way ticket to prosperity, in a world where most of the G8 have taken multiple hits to their economy, and 5 years on, still struggle to regain their former financial positions. China could practically bail out the world, while Russia has more billionaires than any other city on the planet, Mukesh Ambani built the worlds first billion dollar home in Mumbai and Brazil’s GDP just overtook the UK’s. Did any of this come from what we would call first world countries? Hardly, and while most of the UK and Europe scrape together the pennies for bills or witness strikes on the news, billions are being made in the countries that 30 years ago, no one with a bit of cash would bat an eyelid at.
For those that managed to sustain and even grown their level of wealth throughout the financial crisis, it will be crossing their minds now that these countries that are growing at such a rapid pace, opulent restaurants and bars popping up on every street, might be worth a look at, and they would be right.
The only problem is, how do you invest in a what a country has to offer when you may never been there, possibly don’t know the language, and don’t possess a vast knowledge of the best markets to put smart money in?
Here is where intelligently conducted market research comes in to play. What market research allows an investor, is easy to grab knowledge that enables he or she to gain an idea of what is out there, what they stand to make, over what period of time, and the safety of their investment… among many other details.
For example, on a recent trip to Moscow, driving past the soon to be completed financial district is simply breathtaking! Imagine Canary Wharf and then shoot it full of steroids… twice, and then you have some picture of what this place is like on the eye. When you think the financial district isn’t even finished yet according to the Ministry of Economic Development, the infrastructure is only 40% formed. The prospect of how much money will be floating around these skyscrapers in years to come is mind boggling.
In this area, market research allows investors access to knowledge including the types of firms occupying the buildings, the number of jobs that will be created, and the construction companies building the skyscrapers, what foreign business owners stand to gain from opening an office in Moscow, along with many other facts and figures about the market.
When such growth, intelligence and untapped resources are sitting, waiting to be used and nurtured. It seems a waste, to stay cocooned in one country.