Please answer the following question (true/false) 1. By definition, secondary data is data gathered from country...

Please answer the following question (true/false)

1. By definition, secondary data is data gathered from country markets that rank as "secondary" in terms of income and population figures

2. Companies wishing to minimize the cost and effort associated with market research should start by collecting and analyzing primary data

3. International marketing may take the form of diversification strategy in which a company creates new products or services for the domestic market

4. When marketers refer to "fast-food culture", or "credit-card culture" they are referring to a cosmopolitan culture which is comprised of various segments of the population which are interconnected by information technology.

5. Trade secrets are confidential information or knowledge that has commercial value and is not in the public domain, and for which steps have been taken to keep it secret

6. The various forms of asset seizure represent the ultimate threat that a government can direct toward a company

Solutions

Expert Solution

Ans1.
This statement is False. Secondary data is collected from data based of the national or state government data base available to public or corporates legally and it is less expensive.

Ans2.
This statement is False.
Companies wishing to minimize the cost and effort associated with market research should start by collecting and analyzing secondary data and not primary data.

Ans3.
This statement is False.
International marketing may take the form of diversification strategy in which a company creates new products or services for the overseas market and not domestic market.

Ans4.
This statement is False.
When marketers refer to "fast-food culture", or "credit-card culture" they are referring to a cosmopolitan culture which is comprised of various segments of the population which are looking for instant access to things for e.g. for food they are looking at easy to make and instant food , similarly with reference to credit card they are looking at instant credit availability.

Ans5.
This statement is True . Trade secrets are confidential information or knowledge that has commercial value and is not in the public domain, and for which steps have been taken to keep it secret
Unlike patents which are registered and made public , trade secrets are kept secret by the company.

Ans. 6
This statement is False. No, political violence like war or violence aciviites are like ultimate form of threat.

Rahul Sunny answered 1 year ago

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