BUS 200 Module 2

What is the purpose of a mission statement in a company?

• Define the company's long-term financial goals

• Describe the company’s core purpose and focus

• Outline the company's budget and expenses

• Set specific quarterly sales targets

Which of the following is NOT part of value chain analysis?

• Primary Activities

• Support Activities

• Currency Exchange Rates

• Business Functions

Push factors for business expansion refer to:

• Market conditions that drive a company out of its home market

• Attractive incentives that pull companies into new markets

• Regulatory benefits in foreign markets

• Cost-saving strategies within a company

What is a multinational strategy?

• A strategy where a company standardizes its products globally

• A strategy where a company adapts its products to local markets

• A strategy that only focuses on domestic markets

• A strategy that excludes global operations

Which of the following is a primary business function?

• Human Resources

• Marketing

• IT Support

• Legal Compliance

What is the first step in the screening process for potential markets?

• Conducting site visits

• Identifying basic demand

• Evaluating legal conditions

• Assessing political stability

Why do companies conduct market research?

• To increase production costs

• To analyze customer preferences and industry trends

• To avoid international expansion

• To determine tax benefits

Secondary market research involves:

• Collecting new data through surveys

• Analyzing existing information from credible sources

• Conducting face-to-face interviews

• Running focus groups

What is a major benefit of primary market research?

• It is inexpensive

• It provides tailored, specific data

• It eliminates market risk

• It only relies on past reports

Which of the following is a source of secondary market research?

• Customer surveys

• Focus groups

• Government databases (e.g., CIA World Factbook)

• Interviews with business executives