Importing and Exporting - Module 4: Plan and Prepar for Export

Which of the following is an uncontrolled environmental element that differs significantly in foreign marketplaces?

• Product quality

• Currency exchange controls

• Customer service

• Marketing strategies

Before investing resources in international trade, companies must first:

• Hire international employees

• Determine a product's export potential

• Develop an overseas travel plan

• Create a business plan

A product that is successful in its domestic market is:

• Guaranteed to fail in international markets

• Likely to succeed in international markets

• Irrelevant to international markets

• Not subject to international trade regulations

International market research primarily aims to:

• Create new domestic markets

• Allocate resources to markets with the greatest sales potential

• Eliminate competition

• Reduce production costs

Market screening helps to:

• Identify and select the most desirable markets

• Increase product manufacturing costs

• Improve domestic sales only

• Avoid international trade altogether

International market evaluation involves:

• Conducting on-site visits to every potential market

• Selecting a small number of desirable markets through environmental scanning

• Avoiding the use of secondary data

• Ignoring market size and trade volume

Developing an international business plan is critical because:

• It guarantees immediate success

• It assembles resources to achieve goals and objectives

• It eliminates the need for market research

• It only applies to large corporations

A good business plan should be:

• Rigid and unchangeable

• Flexible to take advantage of new opportunities

• Reviewed only once a year

• Focused solely on short-term goals

When preparing for overseas travel, an exporter should:

• Make no prior arrangements

• Acquire basic knowledge of the host country

• Focus only on their own culture

• Ignore documentation requirements

Effective overseas promotion should:

• Provide the desired information in a culturally sensitive manner

• Be uniform across all markets

• Ignore strategic marketing objectives

• Use only direct mail as a promotional tool