International Trade and Marketing Exam Review
Course Introduction
International Trade and Marketing explores the principles and practices that govern the exchange of goods and services across international borders. This course examines key concepts such as comparative advantage, trade theories, tariffs, and non-tariff barriers, as well as the impact of globalization on world markets. Students will analyze international marketing strategies, cultural considerations, and the roles of organizations and policies regulating trade. Through case studies and real-world examples, learners will gain insight into export and import operations, market entry strategies, and the challenges faced by businesses operating in diverse economic and regulatory environments.
Recommended Textbook
International Marketing 17th Edition by Philip Cateora
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19 Chapters
1940 Verified Questions
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Page 2
Chapter 1: The Scope and Challenge of International Marketing
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Q1) To avoid errors in business decisions, it is necessary to conduct a cross-cultural analysis that emphasizes the need for ethnocentrism.
A)True
B)False Answer: False
Q2) Understanding one's own culture normally requires no additional study.
A)True
B)False Answer: False
Q3) Companies from the Netherlands are the leading group of investors in the United States.
A)True
B)False Answer: False
Q4) The global marketing concept views the marketplace as consisting of one primary domestic market that is complimented by several smaller regional markets.
A)True
B)False
Answer: False
Page 3
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Chapter 2: The Dynamic Environment of International Trade
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Q1) Why was the International Monetary Fund (IMF) formed? How does the IMF deal with universally floating rates?
Answer: Inadequate monetary reserves and unstable currencies are particularly vexing problems in global trade. To overcome these particular market barriers that plagued international trading before World War II, the International Monetary Fund (IMF) was formed. Originally 29 countries signed the agreement; now 188 countries are members. To cope with universally floating exchange rates, the IMF developed special drawing rights (SDRs). The SDR is in effect paper gold and represents an average base of value derived from the value of a group of major currencies. Rather than being denominated in the currency of any given country, trade contracts are frequently written in SDRs because they are much less susceptible to exchange-rate fluctuations.
Q2) Quotas, boycotts, monetary barriers, and market barriers are examples of tariff barriers.
A)True
B)False
Answer: False
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Chapter 3: History and Geography: The Foundations of Culture
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Q1) In the context of social responsibility and environmental management, what is sustainable development?
Answer: Sustainable development is a joint approach among those (e.g., governments, businesses, environmentalists, and others) who seek economic growth with "wise resource management, equitable distribution of benefits and reduction of negative effects on people and the environment from the process of economic growth." Sustainable development is not about the environment or the economy or society. It is about striking a lasting balance between all of these. More and more companies are embracing the idea of sustainable development as a "win-win" opportunity. Responsibility for protecting the environment does not rest solely with governments, businesses, or activist groups; however, each citizen has a social and moral responsibility to include environmental protection among his or her highest goals.
Q2) The Roosevelt Corollary is typified by the dictum-whatever is good for the United States is justifiable.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Cultural Dynamics in Assessing Global Markets
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Q1) Which of the following best describes culture?
A) It is radical in nature and readily accepts change.
B) It is the same across all countries.
C) It is the human-made part of human environment.
D) It is static in nature.
E) It is insignificant in assessing new markets.
Q2) With regard to resistance to change, observations indicate that those innovations most readily accepted are those that:
A) cater to the values of the predominant religion of the society.
B) propagate faith in a set of beliefs different from the existing beliefs.
C) are apathetic to the existing cultural beliefs.
D) hold the greatest interest within the society and those that are least disruptive.
E) offer some insight into the aesthetics of the existing culture.
Q3) According to traditional definitions, culture is transmitted from generation to generation.
A)True
B)False
Q4) In the context of the elements of culture, briefly discuss the concept of linguistic distance.
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Chapter 5: Culture, Management Style, and Business Systems
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Q1) Which of the following is the best and most feasible means of solving the problem of language on the Internet?
A) Using minimal to no language on websites instead of using graphics and diagrams to convey messages
B) Using language translation software to translate communication in all languages
C) Having country-specific websites so that everyone can communicate in their own language
D) Using foreign language blocking software to screen international communications
E) Training employees to virally communicate in all languages used by foreign customers
Q2) The three typical decision-making patterns are top-level management decisions, decentralized decisions, and committee or group decisions.
A)True
B)False
Q3) Briefly describe the different types of business customs.
Q4) How important is adaptation in international marketing? What are the basic criteria to deal with foreign firms?
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Chapter 6: The Political Environment: a Critical Concern
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Q1) What goal did the G20 nations agree to in the April 2009 agreement that required them to cede some sovereignty?
A) Including all G20 nations in the Security Council
B) Raising oil prices
C) Increasing infrastructure funding
D) Rejecting protectionism
E) Increasing aid to South Africa
Q2) Which of the following is the most important reason to encourage foreign investment?
A) To improve the global image of a country
B) To accelerate the development of an economy
C) To evade political tensions between countries
D) To minimize negative political fallouts within the domestic economy
E) To improves ties between the investing country and the host country
Q3) A single company can directly control or alter the political environment of the country within which it operates.
A)True
B)False
Q4) Describe the concept of nationalism and list some of the ways it manifests.
Q5) Describe the characteristics of a sovereign state.
Page 8
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Chapter 7: The International Legal Environment: Playing by the Rules
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Q1) The basis for _____ is tradition, past practices, and legal precedents set by the courts through interpretations of statutes, legal legislation, and past rulings.
A) civil law
B) common law
C) code law
D) commercial law
E) criminal law
Q2) Charging what the market will bear is a suggested strategy for IP-rich firms to make money in China.
A)True
B)False
Q3) The revised set of export regulations published by the Department of Commerce to alleviate many of the problems and confusions of exporting and to expedite the process is called _____.
A) Agreement on International Trade and Negotiations
B) Export-Import Manual
C) International Trade Regulations
D) Export Charter
E) Export Administration Regulations
Page 9
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Chapter 8: Developing a Global Vision Through Marketing Research
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Q1) List the six steps in the research process.
Q2) The public, face-saving truth is referred to as honne in Japan.
A)True
B)False
Q3) The ability to express attitudes and opinions about a product or concept depends on a respondent's ability to recognize the usefulness and value of such a product or concept.
A)True
B)False
Q4) Consumers in America tend to respond to rating scales more conservatively than consumers in Japan.
A)True
B)False
Q5) Checking the consistency of one set of secondary data with other data of known validity is an effective and often-used way of judging validity.
A)True
B)False
Q6) Write a short note on the expert opinion method of demand forecasting.
Q7) Compare and contrast back translation and parallel translation.
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Chapter 9: Economic Development and the Americas
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Q1) Newly industrialized countries (NICs) differ from less-developed countries in that NICs:
A) include Canada, the United States, and Germany.
B) attract insignificant or no foreign investment.
C) have per capita incomes that are lower than other developing countries.
D) have moved away from restrictive trade practices and instituted significant free market reforms.
E) have shown slow industrialization and expansion of targeted industries.
Q2) What is occurring in the BEMs is analogous to the situation after World War II when tremendous demand was created during the reconstruction of Europe.
A)True
B)False
Q3) Which of the following statements is true about MDCs (more-developed countries)?
A) These countries are just entering world trade.
B) Majority of their populations stay in rural areas.
C) These countries have high per capita incomes.
D) These countries have little world trade involvement.
E) These countries have mainly agrarian economies.
Q4) Describe the political and economic changes affecting global marketing.
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Chapter 10: Europe, Africa, and the Middle East
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Q1) List the opportunities offered by economic integration.
Q2) The Commonwealth of Independent States is:
A) a political alliance with a central government.
B) an economic and political alliance with open borders and no central government.
C) an economic and political alliance with closed borders and a federal government.
D) a federation of many states.
E) a supranational organization similar to the old European community.
Q3) A _____ involves complete political and economic integration, either voluntary or enforced.
A) political union
B) common market
C) regional cooperation for development (RCD)
D) customs union
E) free trade area (FTA)
Q4) At the most general level, the WTO represents the most important and comprehensive trade agreement in history.
A)True
B)False
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Page 12
Chapter 11: The Asia Pacific Region
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Q1) In view of China's size, diversity, and political organization, it is not possible to have one-growth strategy for China.
A)True
B)False
Q2) The sector that was hit the hardest during the Japanese recession was the real estate sector.
A)True
B)False
Q3) At present low value-added manufacturing in textiles and heavy equipment manufacturing industries account for the vast majority of Shanghai's industrial employment.
A)True
B)False
Q4) APEC is a body formed by the major governments of the Asian countries with the primary purpose of protecting their local industries against the market domination by their western counterparts.
A)True
B)False
Q5) Illustrate the "one country, two systems" approach of China.
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Chapter 12: Global Marketing Management: Planning and Organization
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Q1) The answers to which of the following questions is generated in Phase 2 of the international marketing process?
A) Are there identifiable market segments that allow for common marketing mix tactics across countries?
B) Have objectives and goals been established?
C) Have all budgets been determined within the constraints of resources?
D) Are pre-existing channels of distribution in the new market mature enough to support the proposed expansion?
E) Have responsibilities been established for implementation and control?
Q2) Briefly explain the benefits of global marketing operations.
Q3) Tactical planning is essentially long term, incorporating generalized goals for an enterprise as a whole.
A)True
B)False
Q4) A business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective is called a strategic international alliance (SIA).
A)True
B)False
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Chapter 13: Products and Services for Consumers
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Q1) The decision to standardize or adapt a product is crucial in delivering quality.
A)True
B)False
Q2) A product's _____ refers to the ease with which its benefits can be communicated to the customers.
A) vincibility
B) partibility
C) complexity
D) trialability
E) observability
Q3) _____ is the term used to describe the changes mandated by local product and service standards.
A) Product localization
B) Product protectionism
C) Product disapprobation
D) Product dilution
E) Product homologation
Q4) In the context of product adaptation, what is product homologation?
Q5) What is green marketing? How does it affect product development?
Q6) Define country-of-origin effect. How can a company overcome this effect?
Page 15
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Chapter 14: Products and Services for Businesses
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Q1) What has become the primary vehicle for doing business in many foreign countries? Explain and justify your answer.
Q2) For international users of heavy construction equipment, the manufacturer's country of origin is of major importance in purchasing construction equipment.
A)True
B)False
Q3) Russia and Eastern European countries fit in which of the following stages of Rostow's five-stage model of economic growth?
A) The traditional society
B) Drive to maturity
C) Preconditions for takeoff
D) The age of mass consumption
E) Takeoff
Q4) With respect to Rostow's five-stage model of economic development, countries in Stage 5 (the age of mass consumption) are mostly service economies.
A)True
B)False
Q5) Which are the stages of Rostow's five-stage model of economic development?
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Chapter 15: International Marketing Channels
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Q1) General Motors, _____, and DaimlerChrysler have created a single online site called Covisint for purchasing automotive parts from suppliers.
A) Toyota Motor Corporation
B) Honda Motor Company
C) Ford Motor Company
D) Nissan Motor Company
E) Tata Motors
Q2) Great Britain has epitomized distribution through specialty-type middlemen, distributors, wholesalers, and retailers. In recent years, however, there has been a trend toward broader lines, conglomerate merchandising, and mass marketing. This suggests that a firm that neglects the growth of self-service, scrambled merchandising, or discounting may find that it has lost large segments of its market only because its channels no longer reflect the _____ of the market.
A) character
B) continuity
C) control
D) cost
E) capital requirement
Q3) Discuss the Export Trading Company (ETC) Act.
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Page 17
Chapter 16: Integrated Marketing Communications and International Advertising
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Q1) Using newspapers or magazine ads as a channel of communication when the majority of the intended users are illiterate is an example of ineffective _____ in the communications process.
A) feedback
B) media channel selection
C) noise
D) market selection
E) message selection
Q2) While developing an international advertisement campaign, the last step of the process is evaluating the campaign relative to the goals specified.
A)True
B)False
Q3) In the context of international advertising, an advertiser should ideally exclude availability, cost, and coverage of media.
A)True
B)False
Q4) Industrial advertisers rarely use direct mail for advertising.
A)True
B)False
Page 18
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Chapter 17: Personal Selling and Sales Management
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Q1) Which of the following practices, with respect to motivating sales personnel, is most common in relationship-oriented countries like Japan?
A) Companies lay greater emphasis on incentives that are based on individual performance.
B) Companies do not allow local managers to decide the mix between base and incentive pay.
C) Commissions are measured by sales revenues generated by each employee.
D) Companies are not very tolerant of poor performers and fire them immediately.
E) Companies motivate sales representatives through frequent interaction with supervisors.
Q2) Only a limited number of American high-caliber sales personnel are willing to live abroad for extended periods of time as expatriates.
A)True
B)False
Q3) In relationship-oriented cultures, sales representatives tend to be on the bottom rung of the social ladder.
A)True
B)False
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Chapter 18: Pricing for International Markets
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Q1) Write a brief note on parallel importing.
Q2) A(n) _____ means that once the seller has accepted the credit, the buyer cannot alter it in any way without permission of the seller.
A) open account
B) letter of credit
C) bill of lading
D) bill of regression
E) sales agreement
Q3) A company that views pricing as a static element in a business decision most probably:
A) places a high priority on foreign business.
B) sets prices to achieve specific objectives such as targeted return on profit.
C) views export sales as active contributions to sales volume.
D) views domestic sales as an insignificant source of revenue.
E) exports only excess inventory.
Q4) Eliminating costly functional features or lowering overall product quality can minimize price escalation.
A)True
B)False
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Chapter 19: Inventive Negotiations With International
Customers, Partners, and Regulators
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Q1) In the context of international business negotiations, which of the following methods is the most efficient way to communicate with clients and partners in places like Mexico, Malaysia, and China?
A) A conversation over a long dinner
B) A negotiation through video-conferencing
C) A conversation over a phone call
D) A negotiation through e-mail
E) A negotiation with lower- and mid-ranking executives
Q2) The single most important activity of international business negotiations is oration. A)True
B)False
Q3) In the context of international business negotiations, labeling Americans as "cowboys" and associating the Japanese with the image of a samurai warrior are examples of:
A) national icons.
B) linguistic identifiers.
C) social hierarchy.
D) class distinction.
E) cultural stereotypes.
21
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