Which of the following best describes the reasons that justify the need for research when entering new markets?
A)To serve a market efficiently, firms must learn what customers want, why they want it and how they should go about filling their needs.
B)Decisions concerning entry and expansion in overseas markets and the selection and appointment of distributors are often made after a cursory subjective assessment of the situation.
C)To enter a market without conducting marketing research places firms, their assets and their entire operation at risk.
D)All of these choices.

Question

Quizplus · Accepted Answer

All of the choices are valid reasons why conducting research before entering new markets is important. Without researching the market, firms may not fully understand the needs of customers or the competition, which could lead to inefficient operations or failure. Additionally, making decisions based on subjective assessments rather than data can be risky, particularly when entering new markets with unfamiliar cultures and regulations.  Therefore, it is important to conduct thorough marketing research to ensure success in new markets.

Which of the Following Best Describes the Reasons That Justify