Question 1

The ISO 9000 certification guarantees that each product or service produced by a company is of the highest quality.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is possibly the best indicator of a country's ability to use technology to leap several stages of economic development in a very short time?

Accepted Answer

A)  The quality of the educational system. 
B)  The size of the population. 
C)  The general economic environment. 
D)  The size and growth rate of the market. 
E)  The level of government regulations. 
A)  The quality of the educational system. 
B)  The size of the population. 
C)  The general economic environment. 
D)  The size and growth rate of the market. 
E)  The level of government regulations.

Question 3

The lack of common standards for manufacturing highly specialized equipment is a problem in international sales of industrial products.

Accepted Answer

A) True 
 B)False

Question 4

Industrial goods differ from consumer goods in that:

Accepted Answer

A)  sales of consumer goods are highly responsive to changes in price. 
B)  industrial goods are highly customized. 
C)  the demand for industrial goods is largely derived demand. 
D)  sales of industrial goods are stable and do not fluctuate. 
E)  consumer goods are traded in the international market. 
A)  sales of consumer goods are highly responsive to changes in price. 
B)  industrial goods are highly customized. 
C)  the demand for industrial goods is largely derived demand. 
D)  sales of industrial goods are stable and do not fluctuate. 
E)  consumer goods are traded in the international market.

Question 5

A country has reached a level of economic development where there is focus on manufacturing of both semidurable and nondurable consumer goods. Also, the goods demanded relate to equipment and supplies to support manufacturing. Which of the following stages of Rostow's five-stage model of economic growth is the country in?

Accepted Answer

A)  The traditional society. 
B)  Drive to maturity. 
C)  Preconditions for takeoff. 
D)  Takeoff. 
E)  The age of mass consumption. 
A)  The traditional society. 
B)  Drive to maturity. 
C)  Preconditions for takeoff. 
D)  Takeoff. 
E)  The age of mass consumption.

Question 6

Buyers in Country X preferred to use the older version of Firm A's product although it was bulkier and less user-friendly. Buyers in Country Y, however, preferred to use the newer, lightweight version for its new user interface. What can be inferred from this information?

Accepted Answer

A)  Firm A needs to revamp its after-sales services. 
B)  The sales of industrial goods are higher in Country X than in Country Y. 
C)  The perception of quality can differ across countries. 
D)  Country X is a highly industrialized nation. 
E)  Country Y has a lower average income level compared to Country X. 
A)  Firm A needs to revamp its after-sales services. 
B)  The sales of industrial goods are higher in Country X than in Country Y. 
C)  The perception of quality can differ across countries. 
D)  Country X is a highly industrialized nation. 
E)  Country Y has a lower average income level compared to Country X.

Question 7

What is the most serious threat to the continued expansion of international services trade?

Accepted Answer

A)  Free trade 
B)  Capitalism 
C)  Globalization 
D)  Foreign trade zones (FTZs) 
E)  Protectionism 
A)  Free trade 
B)  Capitalism 
C)  Globalization 
D)  Foreign trade zones (FTZs) 
E)  Protectionism

Question 8

One of the most significant factors affecting the international market for industrial goods and services is the degree of standardization.

Accepted Answer

A) True 
 B)False

Question 9

Companies today must be ready to provide after-sale services in the international marketplace if they are to dominate in the global arena. Explain why this is true.

Accepted Answer

Effective competition abroad not only re

Question 10

The U.S. Department of Commerce has mandated that all U.S. government purchases are conducted using the metric system.

Accepted Answer

A) True 
 B)False

Question 11

The ISO 9000 standards concerns the:

Accepted Answer

A)  cost-effectiveness of the production of a good. 
B)  registration and certification of a manufacturer's quality system. 
C)  profitability of a production line. 
D)  ability of a company's computer system to adapt to SAP, a business management software. 
E)  marketing and promotional strategies of a firm. 
A)  cost-effectiveness of the production of a good. 
B)  registration and certification of a manufacturer's quality system. 
C)  profitability of a production line. 
D)  ability of a company's computer system to adapt to SAP, a business management software. 
E)  marketing and promotional strategies of a firm.

Question 12

A product that exceeds performance expectations can also be considered to be of poor quality.

Accepted Answer

A) True 
 B)False

Question 13

With respect to Rostow's five-stage model of economic development, countries in Stage 5 (the age of mass consumption) are mostly service economies.

Accepted Answer

A) True 
 B)False

Question 14

A company Web site is the most important vehicle for selling industrial products, reaching prospective customers, and marketing in most countries.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following factors spurs demand for technologically advanced products in the world?

Accepted Answer

A)  An increase in the size of the global unskilled labor force. 
B)  Large fiscal deficits in developed nations. 
C)  Expanding economic and industrial growth in Asia. 
D)  The increase in the average age in Europe. 
E)  The opening of the Trans-Arctic route. 
A)  An increase in the size of the global unskilled labor force. 
B)  Large fiscal deficits in developed nations. 
C)  Expanding economic and industrial growth in Asia. 
D)  The increase in the average age in Europe. 
E)  The opening of the Trans-Arctic route.

Question 16

_____ provide(s) the facilities for a manufacturer to exhibit and demonstrate products to potential users and to view competitors' products.

Accepted Answer

A)  Catalogs 
B)  Direct mail 
C)  Web sites 
D)  Trade shows 
E)  Specialty advertising 
A)  Catalogs 
B)  Direct mail 
C)  Web sites 
D)  Trade shows 
E)  Specialty advertising

Question 17

Explain the concept of derived demand. Provide an illustration.

Accepted Answer

Derived demand can be defined

Question 18

The ISO 9000 certification will allow a company to:

Accepted Answer

A)  hedge its risk from currency fluctuations. 
B)  increase its revenues from associated services. 
C)  diversify into other product lines. 
D)  differentiate its product from its competitors. 
E)  provide after-sales services. 
A)  hedge its risk from currency fluctuations. 
B)  increase its revenues from associated services. 
C)  diversify into other product lines. 
D)  differentiate its product from its competitors. 
E)  provide after-sales services.

Question 19

Describe the two basic factors that account for greater market similarities among industrial goods customers than among consumer goods customers.

Accepted Answer

The two factors that account for greater

Question 20

Which of the following are driving a strong level of interest in the ISO 9000 certification?

Accepted Answer

A)  Government regulations 
B)  Marketplace requirements 
C)  Market consolidation 
D)  Free trade 
E)  Protectionism 
A)  Government regulations 
B)  Marketplace requirements 
C)  Market consolidation 
D)  Free trade 
E)  Protectionism

The ISO 9000 certification guarantees that each product or service produced by a company is of the highest quality.

Which of the following is possibly the best indicator of a country's ability to use technology to leap several stages of economic development in a very short time?

The lack of common standards for manufacturing highly specialized equipment is a problem in international sales of industrial products.

Industrial goods differ from consumer goods in that:

Buyers in Country X preferred to use the older version of Firm A's product although it was bulkier and less user-friendly. Buyers in Country Y, however, preferred to use the newer, lightweight version for its new user interface. What can be inferred from this information?

What is the most serious threat to the continued expansion of international services trade?

One of the most significant factors affecting the international market for industrial goods and services is the degree of standardization.

Companies today must be ready to provide after-sale services in the international marketplace if they are to dominate in the global arena. Explain why this is true.

The U.S. Department of Commerce has mandated that all U.S. government purchases are conducted using the metric system.

The ISO 9000 standards concerns the:

A product that exceeds performance expectations can also be considered to be of poor quality.

With respect to Rostow's five-stage model of economic development, countries in Stage 5 (the age of mass consumption) are mostly service economies.

A company Web site is the most important vehicle for selling industrial products, reaching prospective customers, and marketing in most countries.

Which of the following factors spurs demand for technologically advanced products in the world?

_____ provide(s) the facilities for a manufacturer to exhibit and demonstrate products to potential users and to view competitors' products.

Explain the concept of derived demand. Provide an illustration.

The ISO 9000 certification will allow a company to:

Describe the two basic factors that account for greater market similarities among industrial goods customers than among consumer goods customers.

Which of the following are driving a strong level of interest in the ISO 9000 certification?

The Scope and Challenge of International Marketing

The Dynamic Environment of International Trade

History and Geography: The Foundations of Culture

Cultural Dynamics in Assessing Global Markets

Culture, Management Style, and Business Systems

The Political Environment: a Critical Concern

The International Legal Environment: Playing by the Rules

Developing a Global Vision Through Marketing Research

Economic Development and the Americas

Europe, Africa, and the Middle East

Asia Pacific Region

Global Marketing Management: Planning and Organization

Products and Services for Consumers

International Marketing Channels

Integrated Marketing Communications and International Advertising

Personal Selling and Sales Management

Pricing for International Markets

Negotiating With International Customers, Partners, and Regulators

Filters

Exam 14: Products and Services for Businesses

The ISO 9000 certification guarantees that each product or service produced by a company is of the highest quality.

Which of the following is possibly the best indicator of a country's ability to use technology to leap several stages of economic development in a very short time?

The lack of common standards for manufacturing highly specialized equipment is a problem in international sales of industrial products.

Industrial goods differ from consumer goods in that:

Buyers in Country X preferred to use the older version of Firm A's product although it was bulkier and less user-friendly. Buyers in Country Y, however, preferred to use the newer, lightweight version for its new user interface. What can be inferred from this information?

What is the most serious threat to the continued expansion of international services trade?

One of the most significant factors affecting the international market for industrial goods and services is the degree of standardization.

Companies today must be ready to provide after-sale services in the international marketplace if they are to dominate in the global arena. Explain why this is true.

The U.S. Department of Commerce has mandated that all U.S. government purchases are conducted using the metric system.

The ISO 9000 standards concerns the:

A product that exceeds performance expectations can also be considered to be of poor quality.

With respect to Rostow's five-stage model of economic development, countries in Stage 5 (the age of mass consumption) are mostly service economies.

A company Web site is the most important vehicle for selling industrial products, reaching prospective customers, and marketing in most countries.

Which of the following factors spurs demand for technologically advanced products in the world?

_____ provide(s) the facilities for a manufacturer to exhibit and demonstrate products to potential users and to view competitors' products.

Explain the concept of derived demand. Provide an illustration.

The ISO 9000 certification will allow a company to:

Describe the two basic factors that account for greater market similarities among industrial goods customers than among consumer goods customers.

Which of the following are driving a strong level of interest in the ISO 9000 certification?

The Scope and Challenge of International Marketing

The Dynamic Environment of International Trade

History and Geography: The Foundations of Culture

Cultural Dynamics in Assessing Global Markets

Culture, Management Style, and Business Systems

The Political Environment: a Critical Concern

The International Legal Environment: Playing by the Rules

Developing a Global Vision Through Marketing Research

Economic Development and the Americas

Europe, Africa, and the Middle East

Asia Pacific Region

Global Marketing Management: Planning and Organization

Products and Services for Consumers

International Marketing Channels

Integrated Marketing Communications and International Advertising

Personal Selling and Sales Management

Pricing for International Markets

Negotiating With International Customers, Partners, and Regulators

Filters