lesson 7: market research

Question 1

MARKET RESEARCH IS CONSIDERED A CRUCIAL PART OF MARKETING AND SELLING

Answer 1

true

Question 2

• A car branded _____ sold very poorly in Spanish-speaking countries because ____ denotes “not moving” for Spanish-speaking customers

Answer 2

nova

Question 3

_______ is different from a local market research
_______ Is designed for companies that require specialized information concerning a particular product or industry in a specific market

Answer 3

EXPORT MARKET RESEARCH

Question 4

is a factor to consider before entering and placing a product in a diverse market

Answer 4

CULTURE

Question 5

ELEMENTS OF EXPORT MARKET RESEARCH

Answer 5

• market potential
• product requirements
• marketing practices
• and the buyer

Question 6

One of the reasons for restricting exports

Answer 6

is to protect the environment

Question 7

The most common documentary requirement in almost all trading nations is the _______ which certifies that the raw materials used in making the exported product are obtained from that country

Answer 7

certification of origin

Question 8

• are just some of the concerns you should consider in exporting
• Apart from that, you have to be familiar with other necessary requirements that the target market country may ask for

Answer 8

Tariffs and quotas

Question 9

Even dropping by the local offices of international agencies such as the______, ______, and the ______

Answer 9

United Nations (UN), Asian Development Bank (ADB), National Economic Development Authority (NEDA)

Question 10

There will always be competitors, or you may be the competitor in the particular industry of the country that you want to export to

Answer 10

COMPETITION

Question 11

is one of the strategies you will use to market your product to your target buyers or consumers

Answer 11

pricing

Question 12

is the only area of the global marketing mix where policy can be changed quickly without heavy direct cost implications

Answer 12

price

Question 13

The ______in itself really determines whether or not it is going to be accepted/bought by your target market

Answer 13

product

Question 14

Other distribution systems by which you can transport or deliver goods such as rail or road especially in the land locked countries of _____

Answer 14

Europe

Question 15

Others may say that _______ is the fifth P in marketing

Answer 15

packing

Question 16

STANDARD MARKETING PRACTICES

Answer 16

1. TRANSPORT
2. SALES AND DISTRIBUTION CHANNELS
3. PRICING STRATEGY FACTORS
4. SERVICES EXPECTED BY BUYERS
5. ADVERTISING AND SALES PROMOTION