Which of the following best represents what a firm needs to know about the culture of a host country when entering a new market?
A) Space, time, and environment
B) Money, media, and marketplace
C) War heroes, defense budgets, disaster relief, and government hierarchy
D) Culture, political system, societal structures, and language

Question

Quizplus · Accepted Answer

When entering a new market, a firm needs to understand the culture, political system, societal structures, and language of the host country. This knowledge is critical for successful market entry and operation. Space, time, and environment (A) are aspects related to geography and climate, which may be important in specific industries but not crucial for understanding the culture. Money, media, and marketplace (B) are elements that are important for market analysis, but not directly related to understanding the culture of a host country. War heroes, defense budgets, disaster relief, and government hierarchy (C) are specific topics that may be relevant for some industries, but not a general representation of what a firm needs to know about a host country's culture.

Which of the Following Best Represents What a Firm Needs