Question 1

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

Field work allows for firsthand observation and interaction, providing deeper insights into the local market conditions, consumer behavior, and business practices in China and Russia.

Question 2

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 being offered by the company. Consumer variables typically include aspects such as purchase frequency, lifestyle, preferences, and purchase behavior, which are related to the consumer's characteristics and behaviors.

Question 3

All of the following are common types of export representatives in the United States except:
A)combination export manager (CEM).
B)export merchant.
C)export commission house.
D)export consortium.
E)the trading company.

Accepted Answer

An export consortium is not a common type of export representative in the United States; it typically refers to a group of companies that collaborate to promote exports, rather than a representative entity.

Question 4

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 an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. It compiles and provides macroeconomic data relevant to its activities, unlike the other options listed.

Question 5

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 are the easiest to sell abroad with respect to logistics because they do not require modifications to meet the local market's standards or preferences, making distribution and sales processes more straightforward.

Question 6

_____ 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 strategy used by companies when entering a new market because it involves selling domestically produced products to buyers in other countries, which is less complex and requires less investment than other entry modes like establishing joint ventures or subsidiaries abroad.

Question 7

The _____ is someone who brings together an overseas buyer and a U.S.manufacturer for the purpose of an export sale and earns a commission for establishing a contact that results in a sale.
A)combination export manager (CEM)
B)export broker
C)export commission house
D)piggyback exporter
E)trading company

Accepted Answer

An export broker is the professional who connects an overseas buyer with a U.S. manufacturer to facilitate an export sale, earning a commission for making the connection that leads to a sale.

Question 8

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

The first step for a firm beginning exports is to use available secondary data. Secondary data refers to information that has already been collected and published, such as market research reports, trade statistics, and economic data. This type of data is cost-effective and can provide valuable insights into potential markets, competitors, and customer preferences.

Question 9

The _____ buys and sells on their own accounts and assumes all the responsibilities of exporting a product.Manufacturers do not control sales activities.
A)combination export manager (CEM)
B)export merchant
C)export commission house
D)piggyback exporter
E)trading company

Accepted Answer

An export merchant buys and sells products on their own account, taking on all responsibilities of exporting, without the manufacturer controlling sales activities.

Question 10

U.S.merchandise exports and imports combined amounted to what percentage of the US GDP in 2017?
A)10 percent
B)15 percent
C)20 percent
D)25 percent
E)More than 25 percent

Accepted Answer

The answer of U.S.merchandise exports and imports combined amounted to...

Question 11

_____ 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 the use of independent intermediaries or middlemen located in the exporter's home country to handle the export process, allowing the firm to sell its products overseas without dealing directly with foreign markets or buyers.

Question 12

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

Accepted Answer

Electronic databases are increasingly used to expand information about world trade, offering up-to-date, accessible, and comprehensive data for businesses and researchers.

Question 13

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 CEM stands for "combination export manager," which refers to a type of export management company that handles exports for multiple manufacturers.

Question 14

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

Econometrics is not a socioeconomic variable; it is a branch of economics that applies statistical methods to economic data to give empirical content to economic relationships.

Question 15

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.

Question 16

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 the largest participant in database growth due to its significant technological advancements, large number of tech companies, and substantial investments in data storage, processing, and analytics.

Question 17

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

The level of industrial development is a macroeconomic variable that reflects the economic conditions and capabilities of a region, making it a relevant factor for marketers to consider when assessing market segments in a foreign country.

Question 18

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

Service variables are not typically a criterion for grouping in the identification of an appropriate overseas market and segment. This process usually involves analyzing socioeconomic characteristics, political and legal conditions, consumer variables, and financial conditions to understand the market environment and consumer behavior, not the characteristics of services.

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 common method used by companies to enter international markets due to its simplicity and lower risk compared to other methods such as establishing manufacturing facilities abroad or engaging in joint ventures.

Question 20

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

A combination export manager (CEM) acts as the export department for small exporters or large producers with small overseas sales, handling their export operations.

Quiz 16: Export and Import Management

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

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:

All of the following are common types of export representatives in the United States except:

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

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

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

The _____ is someone who brings together an overseas buyer and a U.S.manufacturer for the purpose of an export sale and earns a commission for establishing a contact that results in a sale.

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

The _____ buys and sells on their own accounts and assumes all the responsibilities of exporting a product.Manufacturers do not control sales activities.

U.S.merchandise exports and imports combined amounted to what percentage of the US GDP in 2017?

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

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

The CEM stands for:

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:

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

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

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:

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

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

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