Chong's Analysis of International Markets

question 19

Multiple Choice

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

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Definitions:

Organize

To arrange or structure things in a systematic way for efficiency or clarity.

Explain

To make (an idea, situation, or problem) clear to someone by describing it in more detail or revealing relevant facts.

Predict Data

The process of using statistical methods, algorithms, or models to forecast future outcomes or trends based on historical or current data.

Unconscious Thoughts

Mental processes that occur without conscious awareness, including desires, motivations, and memories, as proposed by Freud.