Merritt Corp

question 22

Short Answer

Merritt Corp. is interested in doing business internationally. They have already determined that there is international demand for their product. What should they do next?
Determine if the company has the skills necessary to do business abroad
Contact a local business to form a joint venture
Assess the business climate for reaction to foreign products
Determine if the product needs to be modified to fit the foreign market
Conduct market research to determine potential sales

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Definitions:

Successful Negotiations

The process where two or more parties reach a mutually beneficial agreement through dialogue and compromise.

Sharing

The act of giving a portion of what one has to others or allowing others to use something jointly, often seen as a social or collaborative activity.

Communication

The process of exchanging information, ideas, thoughts, and feelings between people through speaking, writing, or using some other medium.

Transferring Information

The act of conveying data, knowledge, or details from one entity or person to another.