WEEK 2 Workshop Brainstorming Topic

Research global environment and market, and identify trends, best practice, risks
Name of Topic
and opportunities
Part of the strategic planning process is identifying what is not known about
competitors and target markets. Market research methods are chosen that can
Key learning points obtain the information the business needs. If a SWOT analysis is part of the
planning process, market research is used to obtain information about the
external threats and opportunities
Westpac Australia plans to set up operations in Thailand.
Part of the viability exercise in their strategic planning process, Westpac requires
to identify what is known about the banking systems, competitors and potential
D.2
Background to problem target market in Thailand.
What are the research methodologies would Westpac need to take to provide
them more details about the potential of the banking market in Thailand?

1) What is the market research process needed for this viability exercise?
Instructions or 2) How can the validity of market information be used by Westpac to
questions to students ascertain the viability to make a decision to proceed or not?