Zest manufactures tomato sauce and is located in Venezuela. The company is trying to enter a new market and, to assess it, Zest is evaluating the market's size and population growth rate. After completing the analysis, Zest decides to invest in the market by partnering with a local firm. Zest provides the firm with resources and technology. While developing their marketing strategy, the two firms decide to change the flavour of the tomato sauce to suit the taste of local consumers.
-In the context of country market assessment, an analysis of which of the following requires a firm to consider market size and population growth?

Question

Quizplus · Accepted Answer

Market size and population growth rate are economic factors that are important to consider when analyzing a country's market potential. These factors help determine the potential demand for a product or service in the market. Option A, technology and infrastructure capabilities, would require analysis of a country's existing infrastructure and its ability to support a business's operations. Option C, sociocultural factors, pertains to cultural norms and values that may affect consumer behavior. Option D, the political environment, is concerned with government policies and regulations that may impact a business's operations. Option E, legal factors, pertains to laws and regulations that may affect a business's ability to operate in a country. While all factors may be important to consider, only option B directly relates to market size and population growth.

Zest Manufactures Tomato Sauce and Is Located in Venezuela