Question

Which of the following is important while understanding and researching the international markets?
Understanding difference in culture and environment
Developing a sound Marketing Information System (MIS)
Careful scanning of environment to find opportunities and threats
All of these
which is right ​

Answer 1

All of these

Explanation:

It is important for a business organization to study its market before entering into it. Be it the local market or an international market, the factors that affect the business are the same.

To ensure the success of any business, it is important to

• Understand the difference in culture and environment so that a proper strategy can be formed
• Developing a sound Marketing Information System (MIS) for properly dealing with the demands of the customers
• Careful scanning of the environment to find opportunities and threats to prevent any losses in the business.