Brazil Markets

Introduction

XYZ Inc wants to launch its top-selling product in the Brazilian market and the company needs to conduct a research before entering into the market. Brazil is a South American Country and is the fifth largest country in the world in terms of the geographical area. Among the most populous countries in the world, Brazil acquires fifth position and it is fourth among the most populous democracy in the world. Brazil has a diversified middle-income economy and it is one of the ten largest economies in the world. Its economy has wide variations in the manufacturing, agricultural and mining sectors and in the levels of development. Technology and service sectors also play a significant role in its economy and are growing rapidly (Infoplease, 2005).

Objective

The objective of the research is to design the research methodology to sell the top-selling product of the XYZ Inc. in Brazil. The different objectives, which the company wants to achieve with the help of the research, are various in numbers. Some of them are:

* The company wants to study the market size, market potential and market growth.

* The study of market profile and market characteristics is also one of the objectives of the research.

* The analysis of market share and market segment.

* The measurement and forecasting of the sale for the short run and long run.

* The identification of complete business trends and seasonal trends (Ramaswamy & Namakumari, 2007).

Research methodology

Researches in common parlance refers to a search for knowledge. One can also define research as a scientific and systematic search for pertinent information on a specific topic. In fact, research is an art of scientific investigation. It is actually a voyage of discovery. In the case of the research for the Brazilian market, different approaches and methods, which can be used for the research, are as follows:

Simple random sampling

This type of sampling is also known as chance sampling or probability sampling where each and every item in the population has an equal chance of inclusion in the sample and each one of the possible sample, in case of finite universe, has the same probability of being selected. Simple random sampling is one of the important tools for sampling in an international market, such a Brazil. It is difficult and expensive for a foreign player to survey the whole population in a new country. The simple random sampling will help the company in selecting a part of the population for the research.

The process of simple random sampling will be started from selecting a sampling frame. Each and every element of the research will be assigned a unique number by the researcher, who is responsible for the data collection. A random number table is assessed to select the elements in to the sample. Each element is put in the order as it musters up. In this highly technological advanced environment, this function can be performed with the help of some computer programs, such as random digit dialing (Kothari, 2005).

The element is selected from the complete list of the populations after beginning a random point in a random sampling. For example, the total number of the population is 100. The sample, which is required for the research is 20, then every 5th element from the table of population will be selected for the research. In the diagram given below, the randomly selected element is 4th element then the rest of the elements have been