Export Strategy Quiz

What is the first step in developing an export strategy?

• Identifying potential competitors

• Outlining market selection factors

• Setting up a local office

• Hiring international staff

Which of the following is NOT a component of an export plan?

• Required resources

• Goals and objectives

• Market identification

• Local employment laws

Which of the following is a reason for a company to export?

• To reduce brand image

• To decrease production volumes

• To spread market risk

• To increase domestic competition

Why is it important to manage cash flow when exporting?

• To ensure timely payment of supplier invoices

• To increase production capacity

• To reduce marketing expenses

• To hire more staff

What is a potential risk of spreading resources across many markets?

• Low return on investment

• Higher return on investment

• Improved market position

• Increased brand recognition

What should be considered when adapting a product for export markets?

• Local employment rates

• Local language dialects

• Packaging design and size

• Domestic market trends

How can a company manage pricing under varying conditions?

• By offering discounts to all customers

• By ignoring competitor prices

• By adjusting prices based on exchange rates

• By setting fixed prices

Which method is most effective for promoting a business overseas?

• Exhibiting at overseas trade shows

• Advertising in local newspapers

• Sending direct mail to potential customers

• Hiring local celebrities

What is a key benefit of attending overseas trade shows?

• Immediate sales increase

• Access to valuable market research data

• Reduction in marketing costs

• Guaranteed partnerships

What role does social media play in promoting a business overseas?

• It is irrelevant for international markets

• It helps maintain a strong online presence

• It replaces the need for trade shows

• It is only useful for local promotions