Question 1

Export marketing is the integrated marketing of goods and services that are destined for customers in international markets. What does the marketing require?

Accepted Answer

Export marketing targets the customer in the context of the total market environment.
The export marketer does not simply take the domestic product "as is" and sell it to international
customers. To the export marketer, the product offered in the home market represents a starting
point. It is then modified as needed to meet the preferences of international target markets. In order to formulate a good exporting strategy the following points should be considered:
1. An understanding of the target market environment
2. The use of marketing research and identification of market potential
3. Decisions concerning product design, pricing, distribution channels, advertising, and
communications-the marketing mix.
The export marketer should also set prices to fit the marketing strategy and does not merely extend home-country pricing to the target market. Charges incurred in export preparation, transportation, and financing must be taken into account in determining prices. Finally, the export marketer also adjusts strategies and plans for communication and distribution to fit the market. In other words, effective communication about product features or uses to buyers in different export markets may require creating brochures with different copy, photographs, or artwork.

Question 2

The top ranked country among those exporting to the United States is:

Accepted Answer

A) Taiwan. 
B) China. 
C) Mexico. 
D) India. 
E) Honduras. 
A) Taiwan. 
B) China. 
C) Mexico. 
D) India. 
E) Honduras. B

Question 3

In general, the greater the distance between the product source and the target market, the greater the time delay for delivery and the lower the transportation cost.

Accepted Answer

A) True 
 B)False  False

Question 4

According to the recent import regulations in the United States, action figures that represent non-human creatures such as monsters or robots are categorized as toys and qualify for lower duties than human figures that are classified as dolls.

Accepted Answer

A) True 
 B)False

Question 5

Governmental actions at times are designed to discourage imports and block market access. Why do governments want to curtail imports? Explain some of the barriers that are placed to discourage imports.

Accepted Answer

In order to promote domestic industries

Question 6

The Common Agricultural Policy (CAP)determines the level of subsidies granted to farmers in Latin America.

Accepted Answer

A) True 
 B)False

Question 7

Foreign purchasing agents are also referred to as jobbers.

Accepted Answer

A) True 
 B)False

Question 8

Developed under the auspices of the Custom Cooperation Council (now the World Customs Organization)the system which took effect is referred to as:

Accepted Answer

A) preferential tariffs. 
B) harmonized tariff. 
C) BTN duty. 
D) specialized tariff. 
E) antidumping duty. 
A) preferential tariffs. 
B) harmonized tariff. 
C) BTN duty. 
D) specialized tariff. 
E) antidumping duty.

Question 9

After the research effort has zeroed in on potential markets, marketers should:

Accepted Answer

A) work on understanding the target market environment. 
B) modify methods used for marketing research. 
C) identify products that can be marketed. 
D) make decisions concerning product design. 
E) plan a personal visit. 
A) work on understanding the target market environment. 
B) modify methods used for marketing research. 
C) identify products that can be marketed. 
D) make decisions concerning product design. 
E) plan a personal visit.

Question 10

The four tigers-Singapore, South Korea, Taiwan, and Hong Kong-learned from the Japanese experience and built strong export-based economies of their own.

Accepted Answer

A) True 
 B)False

Question 11

Export management company (EMC)is an independent marketing intermediary that acts as the export department for two or more manufacturers (principals)whose product lines compete with each other.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following correctly states the role of banks in import/export transactions involving a letter of credit (L/C)?

Accepted Answer

A) The importer's bank is the advising and/or confirming bank; the exporter's bank is the issuing bank. 
B) The exporter's bank is the advising and/or confirming bank; the importer's bank is the issuing bank. 
C) The exporter's bank is the advising, confirming, and issuing bank. 
D) The importer's bank is the advising, confirming, and issuing bank. 
E) none of the above 
A) The importer's bank is the advising and/or confirming bank; the exporter's bank is the issuing bank. 
B) The exporter's bank is the advising and/or confirming bank; the importer's bank is the issuing bank. 
C) The exporter's bank is the advising, confirming, and issuing bank. 
D) The importer's bank is the advising, confirming, and issuing bank. 
E) none of the above

Question 13

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

Accepted Answer

A) in-house export organization. 
B) bank. 
C) freight forwarder. 
D) credit union. 
E) checking account. 
A) in-house export organization. 
B) bank. 
C) freight forwarder. 
D) credit union. 
E) checking account.

Question 14

The terms "export selling" and "export marketing" are interchangeable.

Accepted Answer

A) True 
 B)False

Question 15

The sale of merchandise in export markets at unfair prices is known as:

Accepted Answer

A) dumping. 
B) countervailing. 
C) tariff. 
D) ad valorem. 
E) transaction. 
A) dumping. 
B) countervailing. 
C) tariff. 
D) ad valorem. 
E) transaction.

Question 16

Direct representation identifies that the exporter is selling directly to the consumer or customer.

Accepted Answer

A) True 
 B)False

Question 17

The Buy American Act of 1933, which stipulates that U.S. federal agencies must buy articles produced in the United States unless domestically produced goods are not available, is an example of discriminatory procurement policies.

Accepted Answer

A) True 
 B)False

Question 18

What are some of the entities that an exporter should be familiar with? Describe and explain the role played by each of these entities, separating those that have responsibilities from exporters from those that have no responsibilities from the exporters.

Accepted Answer

Key export entities include purchasing a

Question 19

The Ministry of International Trade and Industry (MITI)has helped devise export strategies for companies in:

Accepted Answer

A) Singapore. 
B) South Korea. 
C) Taiwan. 
D) Hong Kong. 
E) Japan. 
A) Singapore. 
B) South Korea. 
C) Taiwan. 
D) Hong Kong. 
E) Japan.

Question 20

Recently "Call Centers" have mushroomed in countries like India, China, and Philippines due to the outsourcing by many Western countries. What are the benefits and disadvantages to this method to the company that is outsourcing? What factors should be taken into account when deciding to outsource?

Accepted Answer

Outsourcing refers to shifting productio

Export marketing is the integrated marketing of goods and services that are destined for customers in international markets. What does the marketing require?

The top ranked country among those exporting to the United States is:

In general, the greater the distance between the product source and the target market, the greater the time delay for delivery and the lower the transportation cost.

According to the recent import regulations in the United States, action figures that represent non-human creatures such as monsters or robots are categorized as toys and qualify for lower duties than human figures that are classified as dolls.

Governmental actions at times are designed to discourage imports and block market access. Why do governments want to curtail imports? Explain some of the barriers that are placed to discourage imports.

The Common Agricultural Policy (CAP)determines the level of subsidies granted to farmers in Latin America.

Foreign purchasing agents are also referred to as jobbers.

Developed under the auspices of the Custom Cooperation Council (now the World Customs Organization)the system which took effect is referred to as:

After the research effort has zeroed in on potential markets, marketers should:

The four tigers-Singapore, South Korea, Taiwan, and Hong Kong-learned from the Japanese experience and built strong export-based economies of their own.

Export management company (EMC)is an independent marketing intermediary that acts as the export department for two or more manufacturers (principals)whose product lines compete with each other.

Which of the following correctly states the role of banks in import/export transactions involving a letter of credit (L/C)?

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

The terms "export selling" and "export marketing" are interchangeable.

The sale of merchandise in export markets at unfair prices is known as:

Direct representation identifies that the exporter is selling directly to the consumer or customer.

The Buy American Act of 1933, which stipulates that U.S. federal agencies must buy articles produced in the United States unless domestically produced goods are not available, is an example of discriminatory procurement policies.

What are some of the entities that an exporter should be familiar with? Describe and explain the role played by each of these entities, separating those that have responsibilities from exporters from those that have no responsibilities from the exporters.

The Ministry of International Trade and Industry (MITI)has helped devise export strategies for companies in:

Recently "Call Centers" have mushroomed in countries like India, China, and Philippines due to the outsourcing by many Western countries. What are the benefits and disadvantages to this method to the company that is outsourcing? What factors should be taken into account when deciding to outsource?

Introduction to Global Marketing

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political, Legal, and Regulatory Environments

Global Information Systems and Market Research

Segmentation, Targeting, and Positioning

Global Market Entry Strategies: Licensing, Investment, and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions 2: Sales Promotion, Personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Strategic Elements of Competitive Advantag

Leadership, Organization, and Corporate Social Responsibility

Filters

Exam 8: Importing, Exporting, and Sourcing

Export marketing is the integrated marketing of goods and services that are destined for customers in international markets. What does the marketing require?

The top ranked country among those exporting to the United States is:

In general, the greater the distance between the product source and the target market, the greater the time delay for delivery and the lower the transportation cost.

According to the recent import regulations in the United States, action figures that represent non-human creatures such as monsters or robots are categorized as toys and qualify for lower duties than human figures that are classified as dolls.

Governmental actions at times are designed to discourage imports and block market access. Why do governments want to curtail imports? Explain some of the barriers that are placed to discourage imports.

The Common Agricultural Policy (CAP)determines the level of subsidies granted to farmers in Latin America.

Foreign purchasing agents are also referred to as jobbers.

Developed under the auspices of the Custom Cooperation Council (now the World Customs Organization)the system which took effect is referred to as:

After the research effort has zeroed in on potential markets, marketers should:

The four tigers-Singapore, South Korea, Taiwan, and Hong Kong-learned from the Japanese experience and built strong export-based economies of their own.

Export management company (EMC)is an independent marketing intermediary that acts as the export department for two or more manufacturers (principals)whose product lines compete with each other.

Which of the following correctly states the role of banks in import/export transactions involving a letter of credit (L/C)?

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

The terms "export selling" and "export marketing" are interchangeable.

The sale of merchandise in export markets at unfair prices is known as:

Direct representation identifies that the exporter is selling directly to the consumer or customer.

The Buy American Act of 1933, which stipulates that U.S. federal agencies must buy articles produced in the United States unless domestically produced goods are not available, is an example of discriminatory procurement policies.

What are some of the entities that an exporter should be familiar with? Describe and explain the role played by each of these entities, separating those that have responsibilities from exporters from those that have no responsibilities from the exporters.

The Ministry of International Trade and Industry (MITI)has helped devise export strategies for companies in:

Recently "Call Centers" have mushroomed in countries like India, China, and Philippines due to the outsourcing by many Western countries. What are the benefits and disadvantages to this method to the company that is outsourcing? What factors should be taken into account when deciding to outsource?

Introduction to Global Marketing

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political, Legal, and Regulatory Environments

Global Information Systems and Market Research

Segmentation, Targeting, and Positioning

Global Market Entry Strategies: Licensing, Investment, and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions 2: Sales Promotion, Personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Strategic Elements of Competitive Advantag

Leadership, Organization, and Corporate Social Responsibility

Filters