Scenario: Chong's Analysis of International Markets

question 72

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 stage of the market-screening process is John involved in,while examining government regulations and bureaucracy in a market?

• A) assessment of the national business environment
• B) selection of the market
• C) identification of the basic appeal for markets
• D) measurement of market potential

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Definitions:

Cost Centers

Parts of an organization that do not directly generate revenue but incur costs, such as HR and IT departments, essential for the business's operations.

Manufacturing Plants

Facilities dedicated to the production of goods, often involving significant use of machinery and automation.

Control

The power to influence or direct people's behavior or the course of events or the procedures in place to manage operations, compliance, and financial reporting.

Profit Center Manager

A manager responsible for both the revenue and costs of their department, thereby directly influencing its profitability.