10 Questions
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
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
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
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
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
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
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
Test your knowledge on international market entry modes, analyzing indicators of international marketing, and identifying international marketing opportunities. This quiz covers Chapter Four on Foreign Market Entry Strategies.
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