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5.2 Sources of finance – Selecting the source of finance (1 questions)
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Appropriateness of each source is summarised below:
- Japanese government trade statistics
- Accuracy: High – official data are reliable for import/export volumes and tariff regimes.
- Cultural insight: Low – figures do not reveal consumer preferences or buying behaviour.
- Cost: Low – most data are freely available online.
- Third‑party market research reports
- Accuracy: Moderate to high – depends on the research firm’s methodology.
- Cultural insight: High – reports often include qualitative analysis of style preferences, seasonal cycles, and brand perception.
- Cost: Medium to high – purchase price can be several thousand pounds.
- In‑country visits and informal interviews with local retailers
- Accuracy: High for contextual understanding; anecdotal evidence may be biased.
- Cultural insight: Very high – direct interaction uncovers nuances such as store layout expectations and promotional customs.
- Cost: High – travel, accommodation, and time investment.
- Social media analytics on Japanese consumer hashtags
- Accuracy: Variable – data are real‑time but can be noisy and not fully representative.
- Cultural insight: High – reveals emerging trends, influencer impact, and sentiment toward specific styles.
- Cost: Low to medium – depends on the analytics platform used.
Combining the low‑cost, high‑accuracy government data with culturally rich insights from market reports, retailer interviews, and social media analysis provides a comprehensive evidence base for the entry decision.