Question

Wrinkles Away Inc. is entering a foreign market and is spending significant funds on educating customers about their line of wrinkle-reducing skincare products. These costs are an example of _____ costs.

Answer 1

The costs that Wrinkles away is spending to educate customers is what is referred to as the pioneering costs.

The pioneering costs are those costs that come up due to the fact that the foreign business is way different from what works in the home market.

As a result of this, the business firm has to spend quite an amount of its financial, time and effort resources to learn more about the market.

The business has to send its money to educate the users on the product that they have in the market.

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