MARKETING: REAL PEOPLE...ACCESS CARD
11th Edition
ISBN: 9780137684649
Author: Solomon
Publisher: INTER PEAR
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Chapter 2, Problem 1QA
Summary Introduction
To determine: Market condition which influence firm’s decision for enter foreign markets.
Introduction: Foreign market means where different companies from different countries come to trade their product and services. Foreign market helps in selling the product in another country than in its own country.
Expert Solution & Answer
Answer to Problem 1QA
While entering in foreign market company must see its competitors already working in foreign market. Worth of its product whether it will work in assumed way or not.
Explanation of Solution
Given information: Market condition which influence firm’s decision for enter foreign markets.
Before entering the foreign market company must know its opportunities to grow further and earn profits. Companies must know their product’s worth in global market with which they will get profit.
Knowing the value of your company in foreign market helps to develop more and better product or service. Market conditions in which you are currently running your business should be generating profit and growth. Watching competitors how they are dealing in foreign market will help a lot in entering global market.
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