Which of the following is the first step in foreign-market opportunity analysis?
A) Identifying the potential demand for a specific product
B) Indexing and ranking countries by their market appeal
C) Clustering countries into similar groups for screening and evaluation
D) Developing and planning of strategies of the country chosen

Question

Quizplus · Accepted Answer

The first step in foreign-market opportunity analysis is to index and rank countries by their market appeal. This is done by evaluating factors like economic freedom, market size and growth rate, infrastructure, political and social factors, and legal factors. Only after this step can the potential demand for a specific product be identified, countries be clustered into similar groups for screening and evaluation, and strategies be developed and planned for the chosen country.

Which of the Following Is the First Step in Foreign-Market