Lynn Bernerd, Inc. Lynn Bernerd, Inc., Manufactures and Sells Reclining Furniture. the Company

question 55

Multiple Choice

Lynn Bernerd, Inc.
Lynn Bernerd, Inc., manufactures and sells reclining furniture. The company currently operates in the United States but wishes to expand overseas. The company managers have been contemplating the best way to enter the foreign market. At first, the management felt it would be in the company's best interest to let a foreign company use its product and brand in exchange for a royalty. The managers recognized, however, that before the company decided on its foreign strategy it needed to think through all the steps required to enter an international market. As such, the managers believed they needed to consult with some type of agency to help their firm compete more effectively in the global marketplace.
After all the research was completed, the senior managers realized that they wanted to export their product. The managers decided that the transport carrier would notify them when the merchandise was shipped. This would avoid any confusion about lost shipments and ensure better communication with the receiving parties.
-Refer to Lynn Bernerd, Inc. Which of the following options is not one of the steps needed for entering an international market?

• A) Contact local government to see if taxes on trade can be waived.
• B) Establish an overseas distribution network.
• C) Set export prices and payment terms, methods, and techniques.
• D) Identify key foreign markets for the product.
• E) Identify exportable products.

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Definitions:

Cognitive Structure

A mental framework used to organize and interpret information, influencing how we perceive and interact with the world.

Problem Solving

The cognitive process of finding solutions to difficult or complex issues, often involving the application of logical reasoning and creativity.

Heuristic

A problem-solving strategy or mental shortcut that allows people to solve problems and make judgments quickly and efficiently.

Language-like Skills

The abilities related to the use and understanding of complex systems of communication that resemble human language, including syntax, grammar, and the conveyance of abstract concepts.