Scenario: Chong's Analysis of International Markets

question 42

Multiple Choice

Scenario: Chong's Analysis of International Markets
John Chong is an inexperienced entrepreneur in global business. He wants to sell his product, Zulu doll, a toy for kids below the age of eight, in every corner of the world. He wants to examine all potential markets but wants to keep his costs low. John has asked you to explain a few things about analyzing international markets.
-Which step of the market-screening process involves determining the income elasticity of the Zulu doll?

• A) select the market or site
• B) assessment of the national business environment
• C) identification of the basic appeal for markets
• D) measure market or site potential

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Definitions:

Reaction Range

The range of potential outcomes for a trait based on genetic predisposition and environmental influences.

Identical Twins

Twins that develop from a single fertilized egg that splits into two, leading them to share the same genetics.

Orphanage

A residential institution devoted to the care of orphans—children whose parents are deceased or otherwise unable or unwilling to take care of them.

Increase in IQ

A measurable improvement in intelligence quotient, indicating enhanced cognitive abilities.