Local Market survey –Market Research

Everyone knows the importance of thorough Local Market Survey before entering any (foreign) market.
We all agree that one can benefit from a good Market Survey in many ways.
A good Market Survey usually reveals local competitive landscape where there could be services and products that are only offered in the local market which might be your biggest competition eventually.
A good Market Survey may also reveal local government regulations that are unique to the country as well as local specific “standards” that your services and products must comply with to even start the business. A good Market Survey may lead to information, which gives you, tips on how you can differentiate your offerings against your competitions.