An Important First Step in Adapting a Product to a Foreign

question 24

Multiple Choice

An important first step in adapting a product to a foreign market is to determine:

• A) the degree of newness of the product as perceived by the intended market.
• B) the personal ethics of individuals in the target market.
• C) the regional political parties present in the domestic market.
• D) the language problem of the intended market.
• E) the product's compliancy to irrational beliefs of its potential foreign consumers.

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Definitions:

Product Cost

The total amount of expenses incurred to create and offer a product for sale, including direct materials, labor, and overhead costs.

Efficiency Variance

A metric used to measure the difference between the actual use of resources and the standard expected use of resources in the production process.

Variable Overhead

Costs that change in proportion to the activity or volume of production but are not directly associated with the production of a specific unit, such as utilities.

Direct Labour Hours

The total hours worked by employees that are directly involved in the production process.