Question 1

In order to take advantage of these location-specific resources,companies must reach across borders and/or ________.

Accepted Answer

To take advantage of location-specific resources, companies may need to import products, acquire human capital, or even create their own locations. Therefore, option D - "All of the above" is the correct answer.

Question 2

Strategic alliances may be based on ________.

Accepted Answer

Strategic alliances can be based on technology, production, or distribution, or a combination of all three. These partnerships allow companies to leverage each other's strengths and resources to achieve mutual benefits and competitive advantages.

Question 3

Marketing approaches that work in the United States may be ________ or ________ elsewhere,so it is important to work with experienced,successful marketers for exports.

Accepted Answer

Marketing approaches that work well in the United States may not be effective or may even be offensive elsewhere. It is important to work with experienced and successful marketers who have the knowledge and cultural sensitivity to adapt marketing strategies to be effective in different countries and regions.

Question 4

Which of the following is not a common export?

Accepted Answer

Lawn service is not typically exported as it is a service that is provided locally or within a small geographic area. The other choices (B, C, D, E) are all commonly exported goods or services.

Question 5

Which of the following is not a strategy option for global marketing?

Accepted Answer

Local distribution is a tactic or operational decision within global marketing, rather than a strategy option. The correct strategy options for global marketing are Importing, Exporting, Forming strategic alliances, and Locating abroad.

Question 6

Global markets offer expanded access to ________.

Accepted Answer

Global markets provide access to a wide range of resources, including raw materials, intellectual property, and human capital, enabling businesses to expand and grow. This access can lead to increased efficiency, innovation, and profitability for companies operating in these markets.

Question 7

An international trip taken by government officials and businesspeople to promote exports or to attract investment is known as a ________.

Accepted Answer

A trip taken by government officials and businesspeople to promote exports or to attract investment is commonly known as a trade mission.

Question 8

How many dollars is €6.25 worth if the exchange rate is $1.00 is worth €1.25?

Accepted Answer

To find out how many dollars €6.25 is worth at an exchange rate where $1.00 equals €1.25, you divide €6.25 by €1.25, which equals $5.00.

Question 9

Which of the following is not an exporting cost above and beyond labor and materials?

Accepted Answer

The answer of Which of the following is not an...

Question 10

Exporting disadvantages may include ________.

Accepted Answer

The given options are actually advantages of exporting. The only option that mentions a disadvantage is E, which could refer to the cost and effort involved in modifying products or packaging to meet the requirements of foreign markets.

Question 11

Significant challenges and financial costs of exporting include ________.

Accepted Answer

Exporting involves a multitude of challenges and financial costs. Finding the right trading partners can be difficult and time-consuming, especially if you are not familiar with the international market. Information barriers, such as language and cultural differences, can also hinder the exporting process. Furthermore, volatile political and economic conditions can make exporting risky and unpredictable. All of these challenges and costs must be overcome in order to successfully export products and expand a business globally.

Question 12

One reason for setting up international facilities is an established international customer base.This may warrant a ________ close to the customers.

Accepted Answer

An established international customer base may require a sales office for maintaining customer relations, a distribution center for efficient delivery, and a production facility for local production and customization. Therefore, all of the options (A, B, and C) would be the best choice.

Question 13

The U.S.market has over 300 million people,while the global market is approximately ________ billion,presenting huge expansion potential for many businesses.

Accepted Answer

The answer of The U.S.market has over 300 million people,while...

Question 14

________ is the sale of products produced in a foreign country to customers in your home country.

Accepted Answer

Importing refers to the purchase and transport of goods from a foreign country to one's own country, fitting the description provided.

Question 15

There are numerous Web sites with valuable information on countries and trading that may ________.

Accepted Answer

These websites can be excellent sources of specific resources, such as market data, regulatory information, and cultural insights. They may also provide opportunities for cost reduction by identifying suppliers or buyers in different countries. In addition, the information on these websites can help businesses identify potential new customers or markets, representing a treasured customer base. Therefore, all of the above answer is correct.

Question 16

________ is relocating company operations to foreign locations.

Accepted Answer

Offshoring refers to relocating company operations to foreign locations. Outsourcing refers to hiring external companies to handle tasks or services that were previously performed in-house. Reallocating refers to reallocating resources within the company. Centralizing refers to consolidating decision-making and operations at a central location. Formalizing refers to putting procedures and rules in place for a task or process.

Question 17

For many companies,cost reductions have been attained by all of the following except ________.

Accepted Answer

Bringing foreign production to domestic locations typically increases costs due to higher labor and production costs in domestic markets, as opposed to reducing costs through outsourcing or offshoring.

Question 18

There is ________ in global marketing,the possibility of a country's political structure and policies negatively impacting a foreign company transacting business inside its borders.

Accepted Answer

Political risk refers to the possibility of a country's political structure and policies negatively impacting a foreign company transacting business inside its borders. This can include changes in government regulations, nationalization of assets, and civil unrest, all of which can significantly impact the success of a global marketing strategy.

Question 19

Selected trade intermediaries include all of the following except ________.

Accepted Answer

The other options (A, B, C, D) are all examples of trade intermediaries, while postexport marketers do not fall under this category.

Question 20

Higher ________ rates and lower ________ rates are reported among companies that export compared to those that do not.

Accepted Answer

Exporting is a way for companies to expand their customer base, increase sales, and generate higher revenue, which can lead to higher growth rates. On the other hand, companies that do not export may have limited market opportunities, leading to lower growth rates. Additionally, exporting can provide access to new resources and ideas, which can help mitigate the risk of failure.

Quiz 10: Marketing Globally