Tyler, a new accounts representative at Martin Marketing, is learning the job by actually doing ...

Answer to #1

Answer: A

Answer to #2

a. AnalogyWhen using the analogy method, the researcher draws on known statistics from one country to gain insights into the same phenomenon for another, similar country. For instance, if the researcher knows the total consumption of citrus drinks in India thenassuming that citrus drink consumption patterns do not vary much in the neighboring Pakistana rough estimate of Pakistan's consumption can be made, making an adjustment, of course, for the difference in population.
b. Proxy IndicatorsBy using proxy indicators, the researcher uses information known about one product category to infer findings about another product category. This simple approach may lead to practical results especially if the two products exhibit a complementary demand relationshi

Answer to #3

Answer: TRUE

Answer to #4

Answer: A

Answer to #5

Business partners are critical to success in international business. These partners include distribution-channel intermediaries, facilitators, suppliers, and collaborative venture partners such as joint venture partners, licensees, and franchisees. Once the firm has selected a target market, it must identify the types of partners it needs for its foreign-market venture, negotiate terms with chosen partners, and support and monitor their conduct.

Exporters tend to collaborate with foreign-market intermediaries such as distributors and agents. Firms that choose to sell their intellectual property, such as know-how, trademarks, and copyrights, tend to work through foreign licensees. These licensing partners are independent businesses that apply intellectual property to produce products in their own country. In franchising, the foreign partner is a franchisee, an independent business abroad that acquires rights and skills from the focal firm to conduct operations in its own market (such as in the fast-food or car-rental industries). The focal firm can also internationalize by initiating an international collaborative venture, a business activity undertaken jointly with other firms. These collaborations may be project based or require equity investments. Other types of international partnerships include global sourcing, contract manufacturing, and supplier partnerships.

Once managers have identified several promising country markets, verified industry market potential, and assessed the availability of qualified business partners, the next step is to determine company sales potential in each country. Company sales potential is an estimate of the share of annual industry sales the firm expects to generate in a particular target market.

The competencies and resources of foreign partners, including channel intermediaries and facilitators, influence how quickly the firm can enter and generate sales in the target market.

Answer to #6

Industry market potential is an estimate of the likely sales for all firms in a particular industry over a specific period. It is different from company sales potential, the share of industry sales the focal firm itself can expect to achieve during a given year. Most firms forecast both industry market potential and company sales potential at least three years into the future.

Estimating industry market potential enables the researcher to refine the analysis and identify the most attractive countries for the firm's product or service, as well as gain industry-specific insights and understand how the firm needs to adapt its product and marketing approaches. To estimate industry market potential, managers obtain data and insights on the following variables for each country:

 Size and growth rate of the market and trends in the specific industry
 Tariff and nontariff trade barriers to market entry
 Standards and regulations that affect the industry
 Availability and sophistication of distribution for the firm's offerings in the market
 Unique customer requirements and preferences
 Industry-specific market potential indicators

In addition to generic determinants of demand, each industry sectorfrom air conditioners to zippershas its own industry-specific potential indicators or distinctive drivers of demand.

Company sales potential is an estimate of the share of annual industry sales the firm expects to generate in a particular target market. Arriving at it is often more challenging than earlier tasks, because the researcher typically needs to obtain highly refined information from the market and make some fundamental assumptions to project the firm's revenues and expenses three to five years into the future. These estimates are never precise and require quite a bit of judgment and creative thinking.

Answer to #7

Market potential criteria includes:
 Market size and growth rate
 Relevant trends in the industry
 Degree of competitive intensity
 Tariff and nontariff trade barriers
 Relevant standards and regulations
 Availability and sophistication of local distribution intermediaries
 Specific customer requirements and preferences
 Industry-specific market potential indicators
 Industry-specific market entry barriers

A comprehensive set of market-potential indicators includes, too, population, income level, and political stability, and weights and are assigned to establish their relative importance. The more important an indicator, the greater its weight.

Indices such as the Market Potential Index reveal interesting patterns. For example, Russia has a large market size but scores poorly in economic freedom. It also ranks low in market intensity and market receptivity. This implies there are always trade-offs in selecting target countries. No single country is attractive on all dimensions. Along with desirable features, the researcher also must contend with less desirable ones. For example, both Singapore and Hong Kong are favorable in terms of commercial infrastructures, but they are city-states with small populations.

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