Canadian company Fresco Arts is planning to expand into three additional international markets within the year. Which three benefits might be likely outcomes of this plan? (Choose three)
- Wider customer base
- Decreased costs
- Increased profits
- Additional sales
- Increased customer lifetime value
Explanation:
The correct answers are **Wider customer base**, **Increased profits**, and **Additional sales**. Expanding into international markets can bring several benefits to a company like Fresco Arts. Firstly, entering new markets allows the company to tap into a wider customer base, exposing its products or services to a larger audience and potentially increasing brand awareness. With a broader reach, Fresco Arts can attract more customers, leading to increased sales and profits. Additionally, by diversifying its geographical presence, the company can mitigate risks associated with relying too heavily on a single market, thus strengthening its overall business resilience. Moreover, expanding into international markets may provide opportunities for Fresco Arts to capitalize on unique consumer preferences or market demands, further driving sales growth and enhancing its competitiveness in the global marketplace. Therefore, by strategically expanding into additional international markets, Fresco Arts can unlock new growth opportunities and bolster its position in the industry.