Question 1

_________________ exporting involves the use of independent U.S. middlemen to market the firm's products overseas.
A) Direct
B) Indirect
C) Parallel
D) Synchronized
E) Dual

Accepted Answer

Indirect exporting involves using intermediaries such as agents, distributors, or trading companies to market the firm's products overseas. Direct exporting involves selling directly to customers in foreign markets without intermediaries. Parallel exporting involves a third party purchasing goods in one country and selling them in another country without the permission of the manufacturer. Synchronized exporting refers to the coordination of delivery schedules and production schedules between the exporter and importer. Dual exporting involves selling a product to two different countries at the same time.

Question 2

Which of the following countries is the largest participant in database growth?
A) United Kingdom
B) Germany
C) Japan
D) France
E) United States

Accepted Answer

The United States is home to some of the largest tech companies in the world and has a highly developed technology industry. This, coupled with the fact that the country has a large population and a high demand for digital services, makes it the largest participant in database growth.

Question 3

For a firm beginning exports for the first time, the first step is to use available ___________________.
A) primary data
B) secondary data
C) tertiary data
D) Internet data
E) intranet data

Accepted Answer

For a firm beginning exports for the first time, the first step is to use available secondary data. Secondary data refers to information that has already been gathered and published by other sources, such as government agencies or trade associations. This data can provide valuable insights into market trends, consumer behavior, and relevant regulations and tariffs in the target export market, which can help the firm make informed decisions about its export strategy. Using primary data, such as conducting surveys or focus groups, can also be helpful in gathering more specific information about the target market, but it is often more time-consuming and expensive than using available secondary data. Tertiary data refers to compiled information from secondary sources that has been synthesized and analyzed, which may also be useful in developing an export strategy. Internet and intranet data can be useful for accessing both secondary and primary data, but they are not the only sources available and may not always be reliable.

Question 4

When attempting to identify an appropriate overseas market and an appropriate segment, consumer variables should be considered. All of the following
Are consumer variables that should be considered EXCEPT:
A) service quality.
B) purchase frequency.
C) lifestyle.
D) preferences.
E) purchase behavior.

Accepted Answer

Service quality is not a consumer variable; it is a characteristic of the product or service itself. Consumer variables typically relate to the behaviors, preferences, and characteristics of the consumers themselves, such as purchase frequency, lifestyle, preferences, and purchase behavior.

Question 5

Data for grouping along macroeconomic criteria are available from international agencies such as:
A) the International Court of Justice
B) the World Court.
C) the World Bank.
D) the National Geographic Society.
E) the World Economic Council.

Accepted Answer

The World Bank is a reputable international agency that provides macroeconomic data, making it the best choice among the options listed. The International Court of Justice and the World Court primarily deal with legal matters, not economics. The National Geographic Society is a non-profit organization focused on geography and science education, not economics. The World Economic Council is not a known international agency.

Question 6

The identification of an appropriate overseas market and an appropriate segment involves grouping by all of the following criteria EXCEPT:
A) socioeconomic characteristics.
B) political and legal characteristics.
C) consumer variables.
D) service variables.
E) financial conditions.

Accepted Answer

The identification of an appropriate overseas market and an appropriate segment involves grouping by socioeconomic characteristics, political and legal characteristics, consumer variables, and financial conditions. However, it does not involve grouping by service variables.

Question 7

The _________________ acts as the export department to a small exporter or a large producer with small overseas sales.
A) combination export manager (CEM)
B) export merchant
C) export commission house
D) piggyback exporter
E) trading company

Accepted Answer

The answer of The _________________ acts as the export department...

Question 8

The CEM stands for:
A) cash export manager.
B) customs export manager.
C) charismatic export manager.
D) combination export manager.
E) collective export manager.

Accepted Answer

The answer of The CEM stands for:
A) cash export manager.
B)...

Question 9

Conducting export research on China and Russia would best be done by:
A) doing database research.
B) doing on-line searches.
C) doing field work.
D) using existing government facts and figures.
E) using data supplied by trade missions.

Accepted Answer

Conducting field work would be the most effective way to gather firsthand information on the export market in China and Russia. This could include meeting with potential customers, visiting trade shows, and speaking with local experts and businesses. While other methods such as database research, online searches, and existing government data can provide information, they may not give a complete picture of the market and its nuances. Trade missions can also be helpful in conducting field work, but their data should be supplemented with additional research.

Question 10

As an aid to expanding information about world trade, increasingly, international marketing information is available in the form of ____________________.
A) CD-ROMs
B) electronic encyclopedias
C) electronic databases
D) CIA reports
E) government intelligence reports

Accepted Answer

International marketing information is increasingly available in electronic databases, which allow for easy and immediate access to a wide range of data and analysis. CD-ROMs may be outdated or limited in scope, electronic encyclopedias may not be specific enough for international marketing purposes, and CIA and government intelligence reports may be restricted in their accessibility.

Question 11

To get an idea of market segments in a foreign country, the marketer can first group regions within countries across the world by macroeconomic variables.
An illustration of one of these macroeconomic variables would be:
A) level of industrial development.
B) purchase preferences.
C) services sought.
D) lifestyles.
E) purchase frequency.

Accepted Answer

Level of industrial development is a macroeconomic variable that can help a marketer group regions within countries across the world into segments. This variable is an indicator of the economic infrastructure of a region and can provide insights into the level of consumer purchasing power and the potential for market growth.

Question 12

In 2011, exports represented about __________ percent of the U.S. GDP.
A) 5 percent
B) 8 percent
C) 9 percent
D) 10 percent
E) 14 percent

Accepted Answer

According to the World Bank data, in 2011 exports represented approximately 14% of the U.S. GDP.

Question 13

_______________ is usually the first entry mode of entry used by many companies.
A) Exporting
B) Importing
C) Licensing
D) Contract manufacturing
E) None of the above

Accepted Answer

Exporting is often the first mode of entry used by companies as it is one of the simplest and least risky methods of expanding a business into international markets. It involves the sale of domestically produced goods and services to customers in other countries. Companies can use either direct or indirect exporting, depending on their goals and resources. Direct exporting involves the company selling their products to customers in a foreign market, while indirect exporting involves the use of intermediaries such as agents or distributors to sell a company's products in foreign markets.

Question 14

When independent U.S. middlemen market a firm's goods in an overseas market, they are called ______________________. They market through their own network
Of foreign distributors and their own sales force.
A) exporters
B) export specialists
C) export representatives
D) distribution specialists
E) parallel exporters

Accepted Answer

Export representatives are independent middlemen who market a firm's goods overseas using their own network of foreign distributors and sales force.

Question 15

The Japanese trading companies are known as:
A) keiretsus
B) chaebols
C) sogonets
D) sogoshoshas
E) akimonos

Accepted Answer

The Japanese trading companies are known as sogoshoshas. These firms are diversified conglomerates that engage in a variety of businesses, including trading, financing, and investing. Keiretsus are large corporate groups in Japan that are made up of affiliated companies. Chaebols are the large conglomerates in South Korea. Sogonets and akimonos are not terms used to describe Japanese trading companies.

Question 16

The easiest product to sell abroad with respect to logistics is a(n) _____________ product.
A) differentiated
B) semi-standardized
C) clustered
D) gray market
E) standardized

Accepted Answer

Standardized products have consistent specifications and features, making it easier to transport, store, and distribute. As there are no customization requirements, the logistics operations are streamlined, which makes it easier to sell abroad. The other options - differentiated, semi-standardized, clustered, and gray market products - may require specific modifications or customization to meet local demand, resulting in logistical challenges.

Question 17

In 2011, an estimated _______________ American jobs depended on international trade and export expansion.
A) 1 million
B) 8 million
C) 10 million
D) 15 million
E) 20 million

Accepted Answer

According to the International Trade Administration, in 2011, an estimated 10 million American jobs depended on international trade and export expansion.

Question 18

When attempting to identify an appropriate overseas market and an appropriate segment, socioeconomic variables should be considered. All of the following
Are socioeconomic variables that should be considered EXCEPT:
A) demographics.
B) economic.
C) geographic.
D) econometrics.
E) climatic characteristics.

Accepted Answer

Demographics, economic factors, and geographic location are all common socioeconomic variables to consider when identifying an appropriate overseas market and segment. Climatic characteristics, while potentially important for certain industries (such as agriculture), are not typically considered socioeconomic variables. Econometrics refers to the use of statistical models and data analysis to study economic trends and is not a variable itself.

Question 19

___________________ is the most popular way for many companies to become international.
A) Exporting
B) Importing
C) Licensing
D) Contract manufacturing
E) None of the above

Accepted Answer

Exporting is the most popular way for many companies to become international as it allows them to enter new markets with minimum investment and risk. It involves producing goods in the home country and selling them in foreign markets. Importing, licensing, and contract manufacturing are other ways of expanding globally, but they may require more investment and involvement in the foreign market.

Question 20

Approximately how many databases (that can be used to help with international trade) are available online in the world?
A) 1,000
B) 3,000
C) 4,000
D) 5,000
E) 6,000

Accepted Answer

There are approximately 5,000 databases available online that can be used to assist with international trade. These databases cover a wide range of information, including trade statistics, tariffs, and market research, among others, to support businesses in making informed decisions about international trade.

Quiz 16: Export and Import Management

_________________ exporting involves the use of independent U.S. middlemen to market the firm's products overseas.

Which of the following countries is the largest participant in database growth?

For a firm beginning exports for the first time, the first step is to use available ___________________.

When attempting to identify an appropriate overseas market and an appropriate segment, consumer variables should be considered. All of the following Are consumer variables that should be considered EXCEPT:

Data for grouping along macroeconomic criteria are available from international agencies such as:

The identification of an appropriate overseas market and an appropriate segment involves grouping by all of the following criteria EXCEPT:

The _________________ acts as the export department to a small exporter or a large producer with small overseas sales.

The CEM stands for:

Conducting export research on China and Russia would best be done by:

As an aid to expanding information about world trade, increasingly, international marketing information is available in the form of ____________________.

To get an idea of market segments in a foreign country, the marketer can first group regions within countries across the world by macroeconomic variables. An illustration of one of these macroeconomic variables would be:

In 2011, exports represented about __________ percent of the U.S. GDP.

_______________ is usually the first entry mode of entry used by many companies.

When independent U.S. middlemen market a firm's goods in an overseas market, they are called ______________________. They market through their own network Of foreign distributors and their own sales force.

The Japanese trading companies are known as:

The easiest product to sell abroad with respect to logistics is a(n) _____________ product.

In 2011, an estimated _______________ American jobs depended on international trade and export expansion.

When attempting to identify an appropriate overseas market and an appropriate segment, socioeconomic variables should be considered. All of the following Are socioeconomic variables that should be considered EXCEPT:

___________________ is the most popular way for many companies to become international.

Approximately how many databases (that can be used to help with international trade) are available online in the world?