Ikea Has Opened Stores in Beijing and Shanghai and Hopes

question 57

Multiple Choice

Ikea has opened stores in Beijing and Shanghai and hopes to capitalize on China's growing consumer economy since the potential of China's consumer market is so vast that it is almost impossible to measure. Ikea and other global retailing giants operating in China are beneficiaries of the _____ which was established in 1989 to promote open trade and economic and technical cooperation among member nations. In addition, they are allowed to participate in a wide range of organization activities and have become increasingly competitive regarding global business.

• A) APEC
• B) EU
• C) NAFTA
• D) ASEAN

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Definitions:

Demographic Segmentation

This refers to the process of dividing a market into segments based on variables such as age, gender, income, occupation, education, or ethnicity to tailor marketing strategies.

Geographic Segmentation

The division of a target market into distinct geographic units, such as countries, cities, or neighborhoods, to tailor marketing strategies.

International Segmentation Base

Criteria used to divide a global market into distinct subsets of consumers with common needs or characteristics.

Global

Pertaining to the entire world; involving or affecting all parts of the world.