When Planning Strategies for International Markets, a Good Manager Will

question 323

Multiple Choice

When planning strategies for international markets, a good manager will keep in mind that:

• A) Relying on intuition may be misleading.
• B) Understanding local cultural differences is of no real value.
• C) Consumers in a foreign culture all tend to be the same.
• D) International markets are very similar to local markets.
• E) None of these is correct.

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Definitions:

Utility Function

A mathematical representation of a consumer's preference ranking for bundles of goods or services, used to predict economic behavior.

Curds

The solid parts of milk that coagulate when milk is soured or treated with enzymes, used in cheese-making.

Whey

A liquid by-product of cheese production, rich in proteins and lactose, commonly used as a dietary supplement and in various food products.

Cocoa

A key agricultural commodity produced from the seeds of the cacao tree, used primarily in the making of chocolate.