Question 1

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

Accepted Answer

Exporting is usually the first entry mode of entry used by many companies as it involves the least commitment of resources and provides an opportunity to test the waters in a foreign market before making a larger investment. It also allows companies to maintain control over their products and intellectual property while benefiting from economies of scale in production.

Question 2

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

Accepted Answer

A

Question 3

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

Accepted Answer

The World Bank provides data on macroeconomic criteria such as gross domestic product, inflation rates, and unemployment rates, making it the best choice out of the options listed. The International Court of Justice and World Court primarily deal with legal matters, while the National Geographic Society focuses on geographic research and education. The World Economic Council is not a recognized international agency.

Question 4

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

Accepted Answer

Conducting field work would be the best option as it would involve visiting China and Russia, and gaining first-hand knowledge about the market, culture, business practices and consumer behavior. This would provide deeper insights and a better understanding of the market than just relying on existing data or reports.

Question 5

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:

Accepted Answer

Level of industrial development can indicate the overall economic status of a region and provide insight into the potential market size, product demand, and price sensitivity of consumers. This information can help a marketer identify suitable target markets and tailor their marketing strategies accordingly. Purchase preferences, services sought, lifestyles, and purchase frequency are more specific variables that can be used to further segment the market within a region.

Question 6

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

Accepted Answer

The United States is the largest participant in database growth, both in terms of the number of databases and the amount of data being stored. It is home to many of the world's largest technology companies and hosts a significant percentage of the world's data centers.

Question 7

In 2004,Exports represented about __________ percent of the U.S.GDP.

Accepted Answer

The answer of In 2004,Exports represented about __________ percent of...

Question 8

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

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. Service variables are not considered when grouping and identifying appropriate markets and segments.

Question 9

In 2004,an estimated _______________ American jobs depended on international t trade and export expansion.

Accepted Answer

According to the International Trade Administration, in 2004 about 12 million American jobs were supported by international trade and export expansion.

Question 10

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.

Accepted Answer

The answer of When independent U.S.middlemen market a firm's goods...

Question 11

The Japanese trading companies are known as:

Accepted Answer

The Japanese trading companies are commonly known as "sogo shosha" in Japan, which translates to "general trading company" in English. Therefore, the correct choice is D - sogoshoshas. The other options are incorrect: A) Keiretsus are large Japanese business groups; B) Chaebols are large South Korean business conglomerates; C) Sogonets is not a recognized term related to Japanese business; and E) Akimonos is not a recognized term related to Japanese business.

Question 12

The CEM stands for:

Accepted Answer

The answer of The CEM stands for:
...

Question 13

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

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.

Question 14

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

Accepted Answer

Exporting is the most popular way for many companies to become international as it involves selling products or services to foreign countries, allowing companies to expand their customer base and increase sales without having to establish operations in those countries. Importing involves buying goods or services from foreign countries, which can also be a way for companies to expand their product offerings, but it does not necessarily make them international. Licensing and contract manufacturing involve granting others the right to use a company's intellectual property or manufacturing processes, respectively, but do not necessarily involve expanding the company's operations outside of its home country.

Question 15

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:

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 16

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

Accepted Answer

International marketing information is increasingly available in the form of electronic databases, which allow companies to access and analyze data from around the world. This includes information on market trends, consumer behavior, and trade regulations, among other things. CD-ROMs and electronic encyclopedias may contain some relevant information, but are generally more limited in scope. CIA and government intelligence reports are typically confidential and not available to the general public.

Question 17

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

Accepted Answer

Indirect exporting involves the use of intermediaries, such as middlemen or trading companies, to handle the exporting process on behalf of the firm. This can include tasks such as finding overseas buyers, negotiating contracts, and handling shipping and logistics. Indirect exporting can be a good option for smaller firms or those with limited international experience, as it allows them to take advantage of the intermediary's knowledge and expertise in foreign markets.

Question 18

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

Accepted Answer

For a firm beginning exports for the first time, the best option is to use available secondary data. This is because secondary data is easily accessible and is collected by someone else for a different purpose. It can be used to gather general information about foreign markets, potential competitors, regulations, and cultural differences. Primary data and tertiary data are original and specific to a certain market or product, and they require more time and resources to collect. Internet data and intranet data can also be useful, but they should be supplemented with secondary data to ensure their credibility and completeness.

Question 19

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:

Accepted Answer

The answer of When attempting to identify an appropriate overseas...

Question 20

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

Accepted Answer

Standardized products are the best choice for selling abroad with respect to logistics because they can be easily replicated and have a consistent design, production process, and packaging. This makes it easier to manage inventory, shipping, and distribution across different countries and regions.

Quiz 16: Export and Import Management