A firm that decides to enter a country that has open markets relies primarily on ________.
A) a nonmarket strategy
B) a market strategy
C) a communist economic strategy
D) a mercantile strategy

Question

Quizplus · Accepted Answer

A firm that decides to enter a country with open markets would primarily rely on a market strategy, focusing on researching and assessing the market demand, target consumers, competition, pricing, and distribution channels. This strategy involves adapting to the market conditions and consumer preferences, leveraging local partnerships, and developing products or services that appeal to the target market. Nonmarket strategies, such as lobbying, legal actions, or public relations, are typically used in countries with regulated or restricted markets. Communist economic strategies involve state control and ownership of the means of production, which may limit foreign investment or market entry. A mercantile strategy involves using trade protectionism and exporting to gain an advantage in global markets, which may not be feasible in countries with open markets.

A Firm That Decides to Enter a Country That Has