Scenario: Chong's Analysis of International Markets

question 40

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.
-When screening a potential market,which of the following would you advise John to do first?

• A) assess the national business environment
• B) select the market
• C) identify basic appeal for markets
• D) measure market potential

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Definitions:

Legal Requirements

Obligations or standards that must be adhered to according to laws and regulations.

Employee Empowerment

The practice of giving employees the authority, tools, and resources to make decisions and contribute to the company's success.

Recruiting Focus

Strategies or priorities set by an organization for attracting and hiring the best possible talent.

Technical Skills

The abilities and knowledge needed to perform specific tasks, often related to IT, engineering, or other specialized fields.