Export-Import Management
Final Test Solutions
Course Introduction
Export-Import Management is a comprehensive course that explores the principles, procedures, and regulatory frameworks involved in international trade operations. Students will develop an understanding of the strategic and operational aspects of exporting and importing goods and services, including market analysis, documentation, logistics, payment methods, risk management, and compliance with international trade laws. The course also covers export-import policy, government incentives, trade financing, and global supply chain management, equipping students with practical skills and knowledge necessary to effectively manage cross-border transactions in a dynamic global marketplace.
Recommended Textbook
International Marketing 10th Edition by
Michael R. Czinkota
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18 Chapters
1027 Verified Questions
1027 Flashcards
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Page 2
Chapter 1: Global Environmental Drivers
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55 Verified Questions
55 Flashcards
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Sample Questions
Q1) Which of the following is true regarding technological innovation?
A) Technological innovation has complicated the production process.
B) Technological innovation has increased demand, therefore products are distributed at a higher cost.
C) Technological innovation allows for customization in order to meet diverse clients' needs.
D) Technological innovation enables greater access to raw materials around the world which in turn increases production costs.
Answer: C
Q2) Which of the following is true about global investments?
A) They have brought about interdependence between nations which is stable in nature.
B) They have made past trade orientations more relevant in today's changing times.
C) They have reduced the role of manufactured goods and services in the international market.
D) They have made it increasingly difficult to differentiate between "rich" and "poor."
Answer: D
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3
Chapter 2: International Trade Frameworks and Policy
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Sample Questions
Q1) The WTO has ceased to exist as a separate institution and has become part of the GATT.
A)True
B)False
Answer: False
Q2) What is the term used for a firm founded with a global scope in mind from the very beginning?
A) Global
B) Economic bloc
C) Multinational
D) Born global
Answer: D
Q3) The feudal system encouraged the development of an open-state economy.
A)True
B)False
Answer: False
Q4) The U.S.need is for reactive,ad hoc trade responses to specific situations.
A)True
B)False
Answer: False
Page 4
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Chapter 3: The Role of Culture
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Sample Questions
Q1) How can marketers assess the educational levels of a culture from secondary data sources?
A) By using literacy rates and enrollment in higher education
B) By calculating voter turnout rates by educational attainment
C) By assessing the male-female sex ratio through differences in education levels
D) By calculating the per capita income spent on education
Answer: A
Q2) Secondary reference groups include family and coworkers.
A)True
B)False Answer: False
Q3) Language is the mirror of culture.
A)True
B)False Answer: True
Q4) In a low-context culture,the context is as important as what is actually said.
A)True
B)False Answer: False
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Chapter 4: The Economic Environment
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Sample Questions
Q1) Three of the five major industrialized countries in the world that are referred to as the Group of Five include Chile,Canada,and Mexico.
A)True
B)False
Q2) Which of the following is true about forms of economic integration in regional markets?
A) In a free trade area, members harmonize their monetary policies.
B) A common currency is used by members in a free trade area.
C) Capital mobility is not permitted in a common market.
D) A customs union establishes a common trade policy with respect to nonmembers.
Q3) The Physical Quality of Life Index (PQLI)is a composite measure of the level of welfare in a country.
A)True
B)False
Q4) Income is most indicative of the market potential for most consumer and industrial products and services.
A)True
B)False
Q5) Which countries are part of NAFTA? What are the characteristics of NAFTA?
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Chapter 5: The Political and Legal Environment
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Sample Questions
Q1) _____ are designed to deny or at least delay the acquisition of strategically important goods by adversaries.
A) Antidumping laws
B) Export control systems
C) Voluntary restraint agreements
D) Domestication activities
Q2) Which of the following best describes "ehrbarer Kaufmann"?
A) It refers to a legal entitlement of exclusive rights to use an idea, piece of knowledge, or invention.
B) It refers to governmental actions that distort the free flow of trade in goods, services, or ideas for decidedly adversarial and political, rather than strictly economic, purposes.
C) It is a key legal perspective that has faith and belief as its key focus and is also a mix of societal, legal, and spiritual guidelines.
D) It focuses on maintaining long-term successful international trade efforts with distant and often unfamiliar people.
Q3) Explain the different problems encountered by policymakers when trying to administer import controls.
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Chapter 6: Consumer,Industrial,and Government Markets
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Sample Questions
Q1) Which of the following is true about the factors that influence buyer reactions to country of origin (COO)?
A) COO stereotypes remain the same irrespective of the origin of the judge and the category of the product being judged.
B) Consumers' opinions remain the same irrespective of the national origin of the firm and the location where its product is actually made.
C) As the capacity of countries to perform well in specific industries improves, the COO phenomenon varies over time.
D) Demographic factors have no influence on the tendency of consumers to discriminate against foreign products.
Q2) Norms remain the same across all countries.
A)True
B)False
Q3) If the anticipated cost is below a minimum threshold amount,the government is typically required to open the contract to a public bidding process.
A)True
B)False
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8
Chapter 7: Strategic Planning
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Sample Questions
Q1) A single-country approach is large enough for the local business to achieve all possible economies of scale.
A)True
B)False
Q2) _____ refers to balancing global,regional,and local interests.
A) Global leverage
B) Global account management
C) Concentration
D) Cross-subsidization
Q3) One of the benefits for international marketers that have been able to globalize is that,customer service is _____.
A) concentrated and not dispersed in all country markets
B) not required because customers do not need service
C) standardized by the government under customer service requirements
D) subsidized by customer service activities in the U.S.
Q4) Globalization strives to reduce costs by exploiting factor costs or capabilities within a system.
A)True B)False
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Chapter 8: Analyzing People and Markets
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Sample Questions
Q1) In the _____ approach,the headquarters establishes the broad thrust of research activities and delegates further design and implementation to the specific countries.The research is then carried out locally,and only a final report is provided to headquarters.
A) top-down
B) decentralized
C) coordinated
D) centralized
Q2) Which of the following is true about primary research?
A) It is always conducted by the firm with a specific need.
B) It is very limited in scope as it typically does not go beyond the activities of secondary data collection.
C) It is conducted to fill specific information needs.
D) It is easier to conduct internationally.
Q3) Standardized research techniques are more useful in the collection of subjective data than of objective data.
A)True
B)False
Q4) Why are firms reluctant to engage in international marketing activities?
Q5) Write a note on analyzing and interpreting primary data.
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Chapter 9: Market Entry and Expansion
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Sample Questions
Q1) In _____,a parent company grants an independent entity the right to do business in a specified manner that includes the right to sell the parent company's products and use its name,along with its production,preparation,and marketing techniques.
A) leasing
B) a joint venture
C) hire purchasing
D) franchising
Q2) A company that starts exporting its products or services within two years of its establishment is called a(n)_____.
A) innate exporter
B) accidental exporter
C) export management company
D) trading company
Q3) Full ownership by multinational firms is a prerequisite for international success.
A)True
B)False
Q4) List and describe the key corporate export stages.
Q5) Describe three types of ownership in foreign direct investment.
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Chapter 10: Marketing Organization,Implementation,and Control
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Sample Questions
Q1) Which of the following is true about the early stages of international involvement in firms with little or no formal organization?
A) All transactions are subject to a single standardized procedure.
B) Domestic operations assume responsibility for international marketing activities.
C) Consolidation of information and authority over international sales is undertaken.
D) The share of international operations in the sales of the corporation is initially high.
Q2) Implementers provide the opportunity to capture economies of scale and scope.
A)True
B)False
Q3) Regional integration continues to play a major role in area restructuring.
A)True
B)False
Q4) The functional structure works best when both products and customers are relatively large and different in nature.
A)True
B)False
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Chapter 11: Product Management and Global Brands
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58 Verified Questions
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Sample Questions
Q1) The core of a firm's international operations is pricing.
A)True
B)False
Q2) Which of the following is an intangible element of a product?
A) Installation
B) Aesthetics
C) Positioning
D) Packaging
Q3) Which legislation amended Section 301 of the Trade Act of 1974 to clarify that the violation of intellectual property rights is an unreasonable practice within the statute?
A) The Fair Trade Act of 1984
B) The Intellectual Property Protection Act of 1984
C) The Trademark Counterfeiting Act of 1984
D) The Omnibus Tariff and Trade Act of 1984
Q4) Positioning is the physical space a product assumes on a store shelf,and companies pay huge sums of money to have their products first in line.
A)True
B)False
Q5) What are the reasons for making investment on R&D abroad?
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Chapter 12: Global Marketing of Services
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Sample Questions
Q1) The most popular destination point for U.S.students is Europe.
A)True
B)False
Q2) Production lines cannot be established to deliver an identical service each time.
A)True
B)False
Q3) The time of production of a service is very close to the time of consumption.This requires _____.
A) tangibility
B) constant maintenance of service capacity
C) close customer involvement
D) more market transparency
Q4) Services differ from goods as services are tangible.
A)True
B)False
Q5) Services are typically distributed through various intermediaries.
A)True
B)False
Q6) What are the advantages of multilingual websites?
Page 14
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Chapter 13: Advertising,Promotion,and Sales
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Sample Questions
Q1) The process of converting a message into a symbolic form so that it is properly understood by the receiver is called _____.
A) forwarding
B) encoding
C) decoding
D) kinesics
Q2) _____ is an umbrella campaign to boost the image of lesser-known product lines or make the company itself be understood correctly or perceived more positively.
A) Personal selling
B) Market segmentation
C) Corporate image advertising
D) Undifferentiated marketing
Q3) The success of the communications effort can be analyzed by observing feedback.
A)True
B)False
Q4) What are the reasons for a firm's nonparticipation in trade fairs?
Q5) Explain crisis management.
Q6) Explain the significance of local campaign objectives.
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Chapter 14: Pricing Strategies and Tactics
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Sample Questions
Q1) The combined effect of both clear-cut and hidden costs results in export prices that far exceed domestic prices.This cause is known as:
A) cost overrun.
B) seamless integration.
C) relationship pricing.
D) price escalation.
Q2) For an exporter to use the _____ approach,the product has to be unique,and some segments of the market must be willing to pay the high price.
A) extinction pricing
B) skimming
C) penetration pricing
D) market pricing
Q3) Why has price become such a dynamic element of the marketing mix?
Q4) As more segments of the market are targeted and more of a product is made available,the price is gradually increased.
A)True
B)False
Q5) What is the process of setting an export price?
Q6) What is a skimming price strategy?
Page 16
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Chapter 15: Global Distribution and Logistics
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Sample Questions
Q1) The connections made by marketing institutions are unidirectional and flow downward from the producer.
A)True
B)False
Q2) How can inventory be used as a strategic tool? Give an example.
Q3) Marketers attend trade fairs to get data on intermediaries in the industry.
A)True
B)False
Q4) Identify the reasons for the termination of a channel relationship.
Q5) Which of the following statements is true of "A" products in an ABC analysis?
A) They are products that are stocked in all distribution centers, and safety stock levels would be kept high.
B) They are products for which immediate delivery is not urgent.
C) They are products that are stored only at selected distribution centers around the world.
D) They are products for which short delivery time is not important and hence they are stocked only at headquarters.
Q6) Why are reverse distribution systems important?
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Chapter 16: Social Networks and Communication
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Sample Questions
Q1) The digital divide affects developed economies the most.
A)True
B)False
Q2) Numerous firms in developing economies have accelerated marketing activities by skipping less efficient or more expensive approaches and embracing cost-effective social media to achieve marketing goals.This is known as:
A) market cannibalization.
B) astroturfing.
C) technological leapfrogging.
D) crowdsourcing.
Q3) A _____ network is a communal structure consisting of individuals or organizations connected with each other through friendship,common interest,commercial transactions,information exchange,or other types of relationship.
A) business
B) technological
C) social
D) dependent
Q4) Explain how social media benefits promotional activities.
Q5) What are blogs,wikis,forums,and podcast?
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Chapter 17: Leadership,Corporate Social Responsibility,and
Sustainability
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Sample Questions
Q1) "Greenthusiasts" are consumers:
A) for whom green products are attractive only if they are low-priced.
B) who have strong environmental attitudes but do not necessarily reflect their attitudes in actual purchases.
C) for whom environmental issues are a passionate concern.
D) who are aware, concerned, and taking some action.
Q2) In periods of good economic conditions,consumers do not have limits to the price premiums they will pay for secondary benefits.
A)True
B)False
Q3) The trust in business is currently much stronger in developed countries than in emerging markets.
A)True
B)False
Q4) Rapid technological and scientific advances in international markets require high-level leadership qualities among government,societal,and business leaders.
A)True
B)False
Page 19
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Chapter 18: New Directions and Challenges
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Sample Questions
Q1) Which of the following factors helps in safeguarding the earth?
A) Sustainable development
B) Urbanization
C) Growing population
D) Energy demand
Q2) Kate,an editor,does most of her work from home because she finds it unsafe to go out.She shops online,watches movies on her television,and plays video games for entertainment.This lifestyle of Kate is referred to as _____.
A) cocooning
B) westernization
C) indolence
D) teleporting
Q3) Which of the following innovations takes place at the last stage of a product category's life cycle?
A) Disruptive
B) Application
C) Structural
D) Process
Q4) How does eye-tracking technology aid marketing research?
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