When a Company Assumes That Foreign Consumers Want Exactly the Same

question 97

Short Answer

When a company assumes that foreign consumers want exactly the same products that are sold in the United States,it has failed to analyze the importance of understanding ______ ______.

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.

Gas Station

A facility where gasoline (petrol) and often other fuels and automotive products are sold to motorists.

Unavailability of Substitutes

A market condition where consumers have no alternative products or services to choose from, often leading to less price sensitivity.

Demand for Insulin

The requirement or need for insulin, a vital hormone used in the treatment of diabetes, by patients or healthcare providers.