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INB ch. 12
ch. 12
| Question | Answer |
|---|---|
| truly provides a company with information about world opportunities and threats | environmental scanning |
| environmental scanning is mostly used (in two ways) | 1. during the overall planning process. 2. to gather information on opportunites and threats, and not to gather information on "market" weaknesses. |
| a version of environmental scanning in which a company identifies desirable markets by using the environmental forces to eliminate the less desirable markets | market screening |
| a method of market analysis and assessment that permits management to identify a small number of desirable markets by eliminating those judged to be less attractive | market screening |
| market screening is necessary to look at nearly ___ countries around the world and to identify the most attractive opportunities from a __________ view | a country and market point of view |
| market screening eliminates.... | those markets which are judged to be less attractive. |
| involves customized research, general surveys, nonprofit surveys and the internet, as well as country visits to get data | market research |
| what are the units of analysis for market screening | country and segment |
| when management uses "countries" as the basic for making market selections | country screening |
| when management uses "market segments" as the basis for market selection | segment screening |
| when the basic need for a product is ____, no reasonable expenditure of effort is likely to enable a firm to market its ____ and _____ | absent; goods or services |
| looking at the "basic needs" potential for your firms' products and also the foreign trade and investment potentials | initial screening |
| ___ _____ be found out in various ways, including market research activities, reading "industry associations" reports and reading "specialized trade journals". | basic needs |
| assessing the basic need potential and foreign trade and investment potential are both part of ____ ____ | initial screening |
| knowing the number and amount of imports to a specific country does not give a company... | measure of market potential ... much more information is required. |
| only good indicators of the magnitude of present sales within a country | trade flows |
| what is not a good indicator of the potential demand for a new product? | imports into a country |
| what is not a good way to understand basic needs? why? | mail surveys... because mail sometimes takes weeks to get to. response rates are often low |
| what is after initial screening? | second screening which relates to 'financial and economic forces" |
| what measures market demand? | market indicators and market factors |
| economic data used to measure relative market strengths (and weaknesses) of countries or geographic (including market size, market growth rates and e-commerce readiness) | market indicators |
| economic data that correlate highly with market demand for a product | market factors |
| what are used in the second screening process? | trend analysis and cluster analysis |
| statistical technique by which successive observation of a variable at regular time intervals are analyzed to establish regular patterns that are used for establishing future values | trend analysis |
| statistical technique that divides objects into groups so that the objects with each group are similar | cluster analysis |
| when looking at "economic and financial", such issues are? | trends in inflation rates, trends in interest rates |
| what is the thrid screening? | political and legal forces of a country |
| what are three major factors to fully understand political and legal forces of a country? | 1. entry barriers 2. profit remittance barriers 3. policy stability within the government, including public unrest |
| if a country allows an international company to exercise "____/_____" then is this an entry barrier? | repatriation/remittance of profits. no it is not an entry barrier. if they are not allowed then it is an entry barrier |
| who should take the attitude that the stability of governmetn policy is more important than is the particular form of government of a country | management of international companies |
| what is the forth screening? | it is to understand "sociocultural" aspects of the country and market of interestq |
| sociocultural forces are definitely _____ | subjective |
| what is the fifth screening? | to understand competition for your products |
| what is the final selection? | to have a series of visits to fully understand business in a country. ex. field trip |
| comprised of a group of people in search of business opportunities | trade missions |
| what are two good ways to get a better undersanding of the country and markets you are about to select to enter? | trade missions and trade fairs |
| what is some benefits of attending trade fair? | you get information on potential sales, you make good future contacts, and you can have a good opportunity to collect competitive information (intelligence) |
| are organized by export oriented organizations, state governments and the department of commerce of the federal government | trade missions |
| a group of business people and/or governemtn officials (state or federal) that visits a country/market in search of business opportunities | trade mission |
Created by:
sweetka