International Marketing Strategy Quiz
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Questions and Answers

What is market research?

  • A random collection of information about a market
  • A process of guessing information about a market
  • A process of ignoring information about a market
  • A systematic process of gathering, analyzing, and interpreting information about a market (correct)

    • Why is market research critical for businesses entering new international markets?

  • To ignore consumer preferences in different countries
  • To avoid understanding consumer needs
  • To understand the specific needs and desires of consumers in different countries (correct)
  • To guess consumer preferences in different countries

    • What type of information does market research provide about a market?

  • Information about the weather in the market
  • General information about the economy
  • Details about target audience demographics, preferences, behaviors, and competitors (correct)
  • Information about political events in the market

    • How does market research contribute to business strategy in an international context?

    <p>By helping businesses understand consumer needs and preferences in different countries</p> Signup and view all the answers

    What is the significance of market research for businesses aiming to expand their existing presence in international markets?

    <p>It provides critical information about consumer preferences and behaviors</p> Signup and view all the answers

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