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GMS 522 - Selecting Foreign Markets Exam Questions and Answers
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GMS 522 - Selecting Foreign Markets Exam Questions and Answers
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GMS 522 - Selecting Foreign MarketsExam Questions and Answers
Required Considerations of Foreign Market Entries - Answer -the following are
necessary for;
-Assessing the market potential of prospective countries
-evaluating and selecting a mode of entry
-assessment of the firm's capability to operate in the selected environment
Systematic Market Selection - Answer -involves formal strategic planning, market
research, consideration of many country options and entry mode options, developing
contingency plans and setting long term objectives
Internationalization - Answer -the process by which firms become more engaged in
international markets; involves varying degrees of financial and other resource
commitments to foreign markets
Mode of Entry - Answer -an institutional arrangement by which the firm will enter the
foreign market; varies from exporting to foreign direct investment
Proactive - Answer -a reason for firm internationalization; they want to take advantage
of opportunities existing outside their geographic boundaries - a firm may have new
products or technologies which appeal to a wide base of potential customers
Reactive - Answer -a reason for firm internationalization; companies which face mature
or declining markets at home may be in such a position (have little choice) - failure to
expand abroad literally threatens the very survival of the firm
Uppsala Model - Answer -a theory of internationalization; poses that firm's experiential
knowledge is the major driver of its pattern of internationalization - a lack of knowledge
of foreign markets, inhibits the firm's internationalization and results in an incremental
approach being adopted
Stages in the Process of Internationalization - Answer -
Steps to Country Selection - Answer -the following pertain to what;
1. Macro-segmentation
2. Preliminary Screening
3. Secondary Screening
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