Ottawa Sleds is a Canadian company.Managers at the firm are believers in psychic distance.Ottawa Sleds is seeking its first foreign market to enter.Which of the following countries will the firm likely choose first to enter?

Question

Quizplus · Accepted Answer

Since Ottawa Sleds is a Canadian company, the U.S. is the closest and most familiar foreign market, which would have a lower psychic distance compared to other potential countries. Additionally, the U.S. is a large and attractive market for many Canadian firms to expand into. Therefore, the U.S. would likely be the first choice for Ottawa Sleds to enter as it seeks its first foreign market.

Ottawa Sleds Is a Canadian Company