Question 1

Export marketing requires all of the following except:
A)an understanding of the target market environment.
B)the use of marketing research.
C)identification of market potential.
D)decisions concerning product design.
E)reaching retail customers.

Accepted Answer

Export marketing focuses on selling products or services to foreign countries, which involves understanding foreign markets, conducting marketing research, identifying market potential, and making product design decisions. Reaching retail customers directly is not a primary concern in export marketing as it often involves dealing with distributors or wholesalers who then sell to retailers or end consumers in the target market.

Question 2

According to President Obama, "The more American companies export, the more they produce. And the more they produce, the more people they hire-and that means more jobs."

Accepted Answer

President Obama's statement suggests that increasing exports can lead to increased production and hiring, ultimately resulting in more jobs.

Question 3

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

Accepted Answer

While export selling refers to simply selling products in foreign markets, export marketing involves a more comprehensive approach that includes market research, product modification, pricing strategies, and promotional tactics to effectively compete in global markets.

Question 4

After research has zeroed in on potential markets, there is no substitute for a personal visit to size up the market firsthand and begin the development of an actual export marketing program.

Accepted Answer

Research can provide valuable insights, but a personal visit is necessary to fully understand the market and begin developing an effective marketing program.

Question 5

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

The answer of Export marketing is the integrated marketing of...

Question 6

"Export selling" involves tailoring various elements of the marketing mix to global market requirements.

Accepted Answer

"Export selling" does not typically involve tailoring products or marketing efforts to suit foreign markets; it involves selling the same product as is. Tailoring products for global markets is more aligned with "export marketing."

Question 7

In his 2010 State of the Union address, U.S. President Barack Obama had vowed to double U.S. exports by 2015; doing so would require boosting exports 25 percent annually.

Accepted Answer

The answer of In his 2010 State of the Union...

Question 8

The possible arrangements of the responsibilities for handling exports include all of the following except:
A)as a part-time activity performed by domestic employees.
B)through an export partner affiliated with the domestic marketing structure.
C)through an export department within an international division.
D)through an export department that is independent of the domestic marketing structure.
E)through an export department of an embassy in a foreign country.

Accepted Answer

While there may be various arrangements for handling exports, it is unlikely that an embassy in a foreign country would have an export department specifically for handling exports of a different country. Embassies are usually diplomatic missions and do not engage in commercial activities.

Question 9

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

Accepted Answer

The answer of After the research effort has zeroed in...

Question 10

The export marketer takes the domestic product "as is" and sells it to international customers.

Accepted Answer

The export marketer often needs to adapt the domestic product to meet the requirements, preferences, or regulations of international customers and markets.

Question 11

________ is the most important aspect of a company's international orientation.
A)Experience
B)Commitment
C)Dynamism
D)Confidence

Accepted Answer

Commitment is the most important aspect of a company's international orientation because it shows dedication and determination to succeed in foreign markets. Without a strong commitment, a company may not be willing to invest the necessary resources and time required for international expansion. Experienced, dynamic, or confident employees also play a crucial role in a company's international orientation, but without a strong commitment from the company itself, these qualities may not be fully utilized.

Question 12

The advantages of a market visit include all of the following except:
A)confirm market potential.
B)contradict market potential.
C)gain confidence in firm's ability for exporting.
D)gather additional data to reach final decision.
E)build confidence in firm's ability for exporting.

Accepted Answer

The answer of The advantages of a market visit include...

Question 13

Governments in Japan, Singapore, South Korea, and China have supported exports for years which have tremendously helped their economies. Since exporting is a very important component of a country's business strategy, many government programs are offered that support exports. Describe ways by which governments can support exports.

Accepted Answer

The answer of Governments in Japan, Singapore, South Korea, and...

Question 14

The only marketing mix element that is applicable in export selling is:
A)price.
B)product.
C)promotion.
D)place.
E)process.

Accepted Answer

The only marketing mix element that is applicable in export selling is Place, which refers to the distribution channels and logistics involved in getting the product to the target market. Price, product, and promotion may vary according to the specific market being targeted, while process may not be relevant to the export sales process.

Question 15

In 2013, U.S. goods and services exports totaled $2.3 trillion, which comes to about 15 percent of the GDP. This means that nearly 85 percent of the goods and services produced in the United States are consumed at home.

Accepted Answer

The statement is true, as it indicates that only 15 percent of the goods and services produced in the United States are exported, while the remaining 85 percent are consumed domestically.

Question 16

Research discovered that even the most experienced exporters express lack of confidence in their knowledge about shipping arrangements, payment procedures, and regulations.

Accepted Answer

This statement is true based on research findings.

Question 17

In his 2010 State of the Union address, U.S. President Barack Obama vowed to double U.S. exports by 2015. To this end, President Barack Obama created a National Export Initiative and established the President's Export Council. What is meant by export marketing and export selling?

Accepted Answer

The answer of In his 2010 State of the Union...

Question 18

Switzerland exports 51 percent of their GDP, compared to the United States, which exports only about 14 percent.

Accepted Answer

Switzerland has a highly export-oriented economy, with exports accounting for a significant portion of its GDP, while the United States has a larger domestic market and a lower percentage of GDP from exports.

Question 19

Research has shown that exporting is essentially a developmental process that proceeds in different stages. Before a firm reaches stage 4, it must do which one of the following activities?
A)explore the feasibility of exporting
B)commit resources for exporting
C)receive unsolicited export orders
D)believe in attractiveness of exporting
E)build confidence in firm's ability for exporting

Accepted Answer

The answer of Research has shown that exporting is essentially...

Question 20

Which of the following is not true about a personal visit to size up the market firsthand and begin the development of an actual export-marketing program?
A)Confirm assumptions regarding market potential
B)Contradict assumptions regarding market potential
C)Gather additional data to help make decisions
D)Develop a marketing plan in cooperation with local agents
E)Arrange a face-to-face meeting and avoid going to trade shows

Accepted Answer

Visiting a market firsthand can help confirm or contradict assumptions and gather additional data, as well as develop a marketing plan with local agents. However, it is not necessary to avoid trade shows altogether, as they can also provide valuable information and networking opportunities. Therefore, option E is not true.

Quiz 8: Importing, Exporting, and Sourcing

Export marketing requires all of the following except:

According to President Obama, "The more American companies export, the more they produce. And the more they produce, the more people they hire-and that means more jobs."

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

After research has zeroed in on potential markets, there is no substitute for a personal visit to size up the market firsthand and begin the development of an actual export marketing program.

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

"Export selling" involves tailoring various elements of the marketing mix to global market requirements.

In his 2010 State of the Union address, U.S. President Barack Obama had vowed to double U.S. exports by 2015; doing so would require boosting exports 25 percent annually.

The possible arrangements of the responsibilities for handling exports include all of the following except:

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

The export marketer takes the domestic product "as is" and sells it to international customers.

________ is the most important aspect of a company's international orientation.

The advantages of a market visit include all of the following except:

The only marketing mix element that is applicable in export selling is:

In 2013, U.S. goods and services exports totaled $2.3 trillion, which comes to about 15 percent of the GDP. This means that nearly 85 percent of the goods and services produced in the United States are consumed at home.

Research discovered that even the most experienced exporters express lack of confidence in their knowledge about shipping arrangements, payment procedures, and regulations.

In his 2010 State of the Union address, U.S. President Barack Obama vowed to double U.S. exports by 2015. To this end, President Barack Obama created a National Export Initiative and established the President's Export Council. What is meant by export marketing and export selling?

Switzerland exports 51 percent of their GDP, compared to the United States, which exports only about 14 percent.

Research has shown that exporting is essentially a developmental process that proceeds in different stages. Before a firm reaches stage 4, it must do which one of the following activities?

Which of the following is not true about a personal visit to size up the market firsthand and begin the development of an actual export-marketing program?