International Market Entry Modes: Quiz

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Match the following with their corresponding definitions:

Latent demand = Existence of demand for products not currently available in the market Incipient demand = Emerging demand for certain products and services Local shortage of goods = Visible demand due to scarcity of goods in local markets Market development activities = Efforts to stimulate latent demand into 'ready demand' for products and services

Match the following with their corresponding characteristics:

Foreign markets = May have latent demand due to unavailability of certain products Incipient markets = Characterized by emerging demand for certain products and services Latent demand = Unavailability of products due to lack of technological solutions Local shortage of goods = Results in substantial imports or higher prices charged in local markets

Match the following with their corresponding implications for international marketers:

Servicing incipient demand = Involves market development activities and threat of new entrants into the marketplace Benefiting from latent markets = Requires studying the needs and wants of people in foreign markets and undertaking market development activities Opportunity to source goods and services from foreign countries = Involves assessing the supply position of the foreign country and the ability to acquire foreign goods and services Global orientation to business = Implies awareness of both latent demand and incipient demand opportunities

Match the following with their corresponding examples:

Need for drugs or vaccines to cure AIDS or prevent cancer = Example of latent demand due to unavailability of technological solutions Trends in recent growth rates and consumption patterns = Indicators used to identify incipient demand opportunities Substantial imports and higher prices in local markets = Consequences of local shortage of goods Emerging and growth stages of market evolution = Corresponds with incipient demand Signup and view all the answers

Match the following with their corresponding challenges and opportunities:

Incipient demand = Exciting opportunity characterized by early signals for high market growth Latent markets = Opportunity requiring study of needs, wants, and market development activities Servicing incipient demand = Involves both challenging market development activities and potential threat from new entrants Global orientation to business = Implies awareness of both challenging and exciting international marketing opportunities Signup and view all the answers

Match the following with their corresponding potential actions:

To benefit from latent markets = Study the needs and wants of people in foreign markets and undertake market development activities To source goods and services from foreign countries = Assess the supply position of the foreign country and your ability to acquire foreign goods and services Servicing incipient demand = Undertake market development activities and be aware of potential threat from new entrants into the marketplace Global orientation to business = Connotes awareness of both latent demand and incipient demand opportunities Signup and view all the answers

Match the following with their indicators of international marketing opportunity:

Unfulfilled demand in a foreign country = Recognition of existing, latent, or incipient demands Obtaining goods and services from foreign markets = Recognition of goods and services that can fulfill domestic demand Existing demand in foreign countries = Recognition of current demand for products and services Superior value to customers = Offering products and services that meet current demand Signup and view all the answers

Match the following with their role in assessing international marketing opportunity:

Nature of foreign market demand = Assessment of demand and supply situation for products in foreign country Firm's ability to serve foreign market demand = Managerial assessment of company's ability to effectively service foreign markets Preference channeling for company's offerings = Offering superior value to customers International marketer's moderating role = Moderation of demand and supply situation for products in foreign country Signup and view all the answers

Match the following with their forms of international marketing opportunities:

Unfulfilled demand in a foreign country = Existing, latent, or incipient demands in foreign countries that a firm can effectively fulfill Obtaining goods and services from foreign markets = Goods and services in foreign markets that can fulfill domestic demand Existing demand in foreign countries = Already existing demand for certain products and services in foreign countries Superior value to customers = Offering products and services that meet the current demand Signup and view all the answers

Match the following with their marketing task in relation to international marketing opportunity:

Recognition of existing, latent, or incipient demands = Assessing the nature of foreign market demand Recognition of goods and services that can fulfill domestic demand = Offering superior value to customers Recognition of current demand for products and services = Serving the market by offering products and services that meet the current demand Offering products and services that meet current demand = Serving the market by offering products and services that meet the current demand Signup and view all the answers