Howard Enterprises, a small family-owned manufacturer of unique lamps, has begun to receive unsolicited inquiries about its product from foreign countries. The company has been operating exclusively in the domestic environment, but these inquiries have become numerous enough to suggest that a market for these specialty lamps may exist abroad. J. P. Howard, the company head, decided to contact Peter Franks, an old college friend of his, who is now the head of marketing research for a multinational company, to ask for his advice on how to proceed in evaluating foreign country markets. Mr. Franks recommends that Howard Enterprises should select countries that merit in-depth investigation and proceed to make an initial estimate of the demand potential in these countries.
a. Considering the limited resources that are available to Mr. Howard's company, explain how secondary data can be used to help Mr. Howard follow his friend's recommendation.
b. What are the possible limitations of secondary data of which Mr. Howard must be aware when conducting the marketing research?