35. What is the first step in locating foreign markets? A. Identifying internati

Question

35. What is the first step in locating foreign markets? A. Identifying international agents. B. Identifying international distributors. C. Determining whether there is a need for the firm's products. D. Hiring a customs broker. E. Preparing an export marketing plan.

36. Once the firm knows that a potential market exists, it needs to do all of the following except A. choose between exporting directly or indirectly. B. set up a foreign subsidiary. C. consider seeking assistance from a trade specialist if it wishes to engage in indirect exporting. D. find and establish overseas distribution if it decides to set up its own export operation.

Explanation / Answer

Question 35

Expansion into foriegn markets is not an easy task.

It has its own set of problems that have to be overcome by the firm, if it wants to sucessfully enter and sustain its business in profitable manner in the foreign markets.

While locating a potential foreign market to enter, the first step that firm needs to take is to determine whether the potential foriegn market has scope for firm's product.

So, determining whether there is a need for the firm's product in the foreign markets is the first step in locating foriegn markets.

The correct answer is the option (C).

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