Question 1

During the ________ stage of the screening process for potential markets and sites, basic appeal for the product or service is identified.

Accepted Answer

The identification of basic appeal for the product or service is a part of the first stage of screening process for potential markets and sites, known as the preliminary screening stage. This stage involves assessing the overall suitability of a potential market or site based on factors such as market size, competition, legal/political environment, and cultural considerations.

Question 2

The process of collecting and analyzing original data and applying the results to current research needs is called primary market research.

Accepted Answer

Primary market research refers to the process of collecting and analyzing original data, rather than using existing data sources. The data collected can be used to address current research needs and generate insights into a particular topic or issue.

Question 3

Focus group interviews tend to work best when moderators are natives of the countries where the interviews are held.

Accepted Answer

Since moderators who are natives of the countries where the interviews are held would have a better understanding of the culture and language of the participants, they would be able to build trust and facilitate open communication, leading to more insightful discussions.

Question 4

Interviews and focus groups are two main sources of secondary data that help managers make informed decisions.

Accepted Answer

Interviews and focus groups are examples of primary data, not secondary data. Secondary data sources include reports, studies, and databases that are already available and have been collected by other researchers or organizations.

Question 5

The single greatest disadvantage of survey research is that it provides access to only a small amount of data in a single sweep.

Accepted Answer

Survey research can actually collect a large amount of data from a broad population in a single sweep, making it an efficient method for gathering information on opinions, behaviors, and demographics.

Question 6

One advantage of written surveys is that they can be effectively conducted in countries with high rates of illiteracy.

Accepted Answer

Written surveys require respondents to be able to read and write, so they would not be effective in countries with high rates of illiteracy. Other methods, such as face-to-face or oral surveys, would be more appropriate in these contexts.

Question 7

Research in which an interviewer has current or potential buyers answer written or verbal questions to obtain facts, opinions, or attitudes is called a focus group.

Accepted Answer

This type of research is called a survey, not a focus group. A focus group involves guided discussions with a small group of people.

Question 8

Locating production facilities within regional markets is popular because ________.

Accepted Answer

By producing in one of a region's countries, a company can benefit from duty-free access to every consumer in the whole trade bloc. This can be a significant advantage for companies seeking to expand their market reach without incurring additional costs. Additionally, producing within a regional market can simplify logistical challenges and potentially minimize language and cultural gaps as well.

Question 9

Companies trying to break into new markets may want to join industry or trade associations to make contact with others in their field.

Accepted Answer

Industry or trade associations can be a great way for companies to network and make connections with others in their field, which can help them break into new markets. By joining an association, companies can gain access to valuable industry information, attend conferences and events, and collaborate with other members on projects or initiatives.

Question 10

Recognizing a lack of demand for snow skis in Indonesia would take place during the ________ stage of the screening process for potential markets and sites.

Accepted Answer

The first stage of the screening process for potential markets and sites involves identifying markets and sites that are not suitable for the product or service. This would include recognizing a lack of demand for snow skis in Indonesia.

Question 11

Measuring market or site potential takes place during the ________ stage of the screening process for potential markets and sites.

Accepted Answer

The answer of Measuring market or site potential takes place...

Question 12

Industry data cannot tell us how individuals feel about a company or its products.

Accepted Answer

Industry data may provide information on sales, market share, and other quantitative measures, but it cannot capture the subjective feelings and opinions that individuals may have about a company or its products. These perceptions can be influenced by a variety of factors, including personal experiences, brand reputation, and marketing strategies, among others. Therefore, while industry data can provide valuable insights into market trends and performance, it should not be the sole basis for assessing consumer attitudes and preferences.

Question 13

The first step in the screening process for potential markets and sites is to ________.

Accepted Answer

The first step in the screening process for potential markets and sites is to identify basic appeal, which involves assessing the potential demand for the product or service, the level of competition, and the overall attractiveness of the market or site. Selecting the market/site, obtaining government approval for research, and assessing the national business environment are all important steps in the screening process, but they typically come after the initial identification of basic appeal.

Question 14

Assessing the national business environment is the ________ step in the screening process for potential markets and sites.

Accepted Answer

The answer of Assessing the national business environment is the...

Question 15

Which of the following is the correct sequence in the screening process for potential markets and sites?

Accepted Answer

The correct sequence in the screening process for potential markets and sites is to first identify the basic appeal, then assess the national business environment, measure the market/site potential, and finally select the market/site based on these factors. Choice B reflects this sequence correctly.

Question 16

Once the basic appeal of a market/site has been identified, which of these should occur in the screening process?

Accepted Answer

The answer of Once the basic appeal of a market/site...

Question 17

A trade show is an independent trip by government officials and businesspeople that is organized by agencies of national or provincial governments for the purpose of exploring international business opportunities.

Accepted Answer

A trade show is not an independent trip, but rather a large event where businesses and organizations gather to exhibit their products and services to potential customers and partners. While trade shows may be organized or sponsored by government agencies, they are typically open to the public or industry professionals, rather than being exclusive to government officials and businesspeople.

Question 18

Which of these is the final step in the screening process for potential markets and sites?

Accepted Answer

The final decision in the screening process is to select the market/site. Assessing the national business environment, measuring market/site potential, and identifying basic appeal are all important steps in the process, but they are not the final step.

Question 19

Selecting the market or site would take place in the ________ stage of the screening process for potential market and sites.

Accepted Answer

The answer of Selecting the market or site would take...

Question 20

The Internet can be especially useful in seeking information about potential production sites.

Accepted Answer

The Internet can provide a wealth of information about potential production sites, such as location, accessibility, infrastructure, and nearby resources. This information can be easily obtained through online research and can help businesses make informed decisions about where to locate their production facilities.

Quiz 12: Analyzing International Opportunities