In 1998,UK

question 56

Multiple Choice

In 1998,U.K.-based retailer Marks & Spencer closed its office in Shanghai and tabled plans to commence operations there.After 3 years of research,they concluded that the timing is not right.The majority of their customers are from middle-income groups.Within a decade,however,China's emerging middle class represented an attractive opportunity.Marks & Spencer opened its first store in Shanghai in 2008;by 2017,there were 10 stores.However,when its sales stalled,the company pulled out of China for the second time.Part of the problem: low brand awareness,plus the fact that many Chinese shoppers preferred "fast-fashion" brands such as Zara and H&M.China was considered as a(n) ________ market in both instances.

• A)latent
• B)incipient
• C)cluster
• D)existing
• E)primary

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Definitions:

Warranty Terms

The conditions under which a manufacturer or seller agrees to repair, replace, or refund a purchased product within a specified time frame if it fails to meet stated quality and performance standards.

Accept the Objection

A technique in sales and negotiation where one acknowledges an objection raised by another party as valid, but then proceeds to address it or mitigate its impact.

Salesperson

An individual who sells products or services directly to customers, often aiming to meet specific sales targets.

Lighter

A portable device used to create a flame for the purpose of lighting something, such as a cigarette or a candle.