In what order is the selection of foreign markets process presented in the textbook?

Question

Quizplus · Accepted Answer

The selection of foreign markets process is presented in the following order in the textbook: basic needs, economic/financial, political, sociocultural, and competitive. This means that a company first assesses the basic needs of the market, followed by economic and financial factors such as market size, growth potential, and infrastructure. Then political factors such as regulations, stability, and government policies are taken into account. Next, sociocultural factors such as language, customs, and social norms are evaluated. Finally, competitive factors such as market saturation, market share, and barriers to entry are considered.

In What Order Is the Selection of Foreign Markets Process