Final answer:
Companies research international markets to identify growth opportunities, navigate competition, and address cultural and economic differences.
Explanation:
Companies need to research their international markets for several reasons. First, to determine the most attractive markets with growth potential, assess the competitive environment, and understand cultural and economic differences. Second, conducting market research helps in selecting the right market entry strategy - whether it's establishing an export base, forming alliances, acquiring companies, or setting up subsidiaries. Third, researching foreign markets aids in overcoming challenges such as administrative, geographic, economic distances, and the 'grass-is-always-greener' effect that can lead to overestimating market attractiveness.
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