International Market Entry Modes Quiz
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Questions and Answers

International marketing opportunities can only be identified by recognizing unfulfilled demand in a foreign country.

False (B)

The primary indicators of international marketing opportunity are solely the demand and supply situation for products in a foreign country.

False (B)

When there is already existing demand for certain products and services in foreign countries, a company should not serve that market.

False (B)

The managerial task is solely to assess the nature of foreign market demand, irrespective of the company's ability to serve that demand.

<p>False (B)</p> Signup and view all the answers

Latent demand may exist in foreign markets due to the lack of technological solutions for certain problems.

<p>True (A)</p> Signup and view all the answers

Marketers are likely to be attracted to incipient markets because of their large volume.

<p>False (B)</p> Signup and view all the answers

Incipient demand is characterized by declining growth rates and consumption patterns of certain products.

<p>False (B)</p> Signup and view all the answers

To benefit from latent markets, it is necessary to undertake market development activities and stimulate the latent demand into 'ready demand'.

<p>True (A)</p> Signup and view all the answers

Servicing incipient demand does not involve any market development activities.

<p>False (B)</p> Signup and view all the answers

Opportunities to source goods and services from foreign countries only exist for domestic markets, not other foreign countries.

<p>False (B)</p> Signup and view all the answers

Match the following with their descriptions:

<p>Existing demand in foreign countries = Can be served by offering products and services that meet the current demand Latent demand in foreign markets = May exist due to the lack of technological solutions for certain problems Incipient demand in foreign markets = Characterized by declining growth rates and consumption patterns of certain products International marketing opportunities = Identified by recognizing unfulfilled demand in a foreign country or by recognizing goods and services in foreign markets that can be obtained to fulfill domestic demand</p> Signup and view all the answers

Match the following with their roles:

<p>International marketing opportunities = Identifying unfulfilled demand in a foreign country or recognizing goods and services in foreign markets that can be obtained to fulfill domestic demand Managerial task = Assessing the nature of foreign market demand and the company's ability to serve that demand Marketers = Attracted to incipient markets because of their large volume Latent demand = May exist in foreign markets due to the lack of technological solutions for certain problems</p> Signup and view all the answers

Match the following with their characteristics:

<p>Unfulfilled demand in a foreign country = A firm can effectively fulfill through its offerings Goods and services in foreign markets = That a company can obtain to fulfill domestic demand Existing, latent, or incipient demands in foreign countries = That a firm can effectively fulfill through its offerings Incipient demand = Characterized by declining growth rates and consumption patterns of certain products</p> Signup and view all the answers

Match the following with their tasks:

<p>Marketing task = Offering superior value to customers, whereby their preferences can be channeled in favor of your company's offerings Managerial task = Assessing the nature of foreign market demand and the company's ability to serve that demand Company's ability to serve foreign market demand = Assessing the nature of foreign market demand and the company's ability to serve that demand Servicing existing demand in foreign countries = By offering products and services that meet the current demand</p> Signup and view all the answers

Match the following terms with their definitions:

<p>Latent Demand = Unfulfilled need or want of a substantial number of people in a market Incipient Demand = Emerging demand for certain products and services characterized by high growth potential Market Development Activities = Efforts to stimulate latent demand into 'ready demand' for products and services Global Orientation to Business = Approach that considers opportunities to source goods and services from foreign countries for domestic and other foreign markets</p> Signup and view all the answers

Match the following types of demand with their characteristics:

<p>Latent Demand = May exist due to unavailability of certain products that fulfill the need or want of people in a market Incipient Demand = Characterized by emerging demand for certain products and services, providing signals for high market growth Existing Demand = Visible in local shortage of goods, substantial imports, or higher prices charged for these goods in local markets Ready Demand = Result of stimulating latent demand through market development activities</p> Signup and view all the answers

Match the following terms with their implications for international marketing:

<p>Latent Demand = Requires studying the needs and wants of people in foreign markets and undertaking market development activities Incipient Demand = Involves both challenging and exciting market development activities as well as the threat of new entrants into the marketplace Global Orientation to Business = Entails assessing the supply position of foreign countries and the ability to acquire foreign goods and services to fulfill demand in various markets Market Development Activities = Necessary to benefit from latent markets by stimulating the latent demand into 'ready demand' for products and services</p> Signup and view all the answers

Match the following opportunities with their descriptions:

<p>Latent Markets = Opportunity to study foreign market needs and stimulate unfulfilled demand into 'ready demand' through market development activities Incipient Markets = Attract international marketers due to emerging demand with high growth potential, but also involve the threat of new entrants into the marketplace Global Sourcing = Opportunity to source goods and services from foreign countries to fulfill demand in domestic and other foreign markets Domestic Market Opportunity = Involves assessing the supply position of foreign countries and ability to acquire foreign goods and services to fulfill demand in various markets</p> Signup and view all the answers

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