Chong's analysis of international markets
John Chong is an inexperienced entrepreneur in global business.He wants to sell his product,Zulu doll,a toy for kids below the age of eight,in every corner of the world.He wants to examine all potential markets but wants to keep his costs low.John has asked you to explain a few things about analyzing international markets.
-Which step of the market-screening process involves determining the income elasticity of the Zulu doll?

Question

Quizplus · Accepted Answer

The measurement of market potential involves determining the income elasticity of the product, which will help determine the demand for the Zulu doll in a particular market. This step of the market screening process involves gathering data on the size of the market, growth rate, and potential buyers' purchasing power. Therefore, the best choice for John Chong to determine the Zulu doll's potential in different markets is to measure the market potential.

Chong's Analysis of International Markets