Which of the following steps of the strategy development process for exports involves performing market research and interpreting results obtained from the research?

Which of the following steps of the strategy development process for exports involves establishing relationships with potential local distributors?

Which of the following is the first step in developing a successful export strategy?

Which of the following is true of distributors?

Which of the following occurs when a company sells its products to intermediaries who then resell to buyers in a target market?

Which of the following allows a country to earn back some of the currency it pays out for imports?

Which of the following is the oldest known form of countertrade?

The sale of goods and services to a country by a company that promises to buy a specific product from that country in the future is called a(n) ________.

A company proposes that in exchange for a hard-currency sale, it will make a hard-currency purchase of an unspecified product from the buyer nation in the future. Which of the following is the company proposing?

An offset agreement differs from a counterpurchase agreement in that an offset agreement ________.

________ is a countertrade whereby one company sells to another its obligation to make a purchase in a given country.

Buyback is defined as ________.

A form of countertrade that usually typifies long-term relationships between the companies involved is called ________.

Which of the following statements is true of countertrade?

Which of the following is a strategic factor that influences a company's international entry mode selection?

Which of the following statements is true of the strategic factors that influence a company's international entry mode selection?

Which of the following occurs when a company sells its products to buyers in a target market without going through intermediary companies?

Companies involved in direct exporting typically rely on ________.

A(n) ________ exports products on behalf of an indirect exporter.

Which of the following is a method of export/import financing?

Which of the following normally takes the form of a wire transfer of money from the bank account of the importer directly to that of the exporter prior to shipment of merchandise?

Advance payment is commonly used for export/import financing when ________.

Export/import financing in which a bank acts as an intermediary without accepting financial risk is called ________.

Which of the following financing methods entails the greatest risk for importers?

Which of the following financing methods entails the greatest risk for exporters?

________ is a payment method commonly used when there is an ongoing relationship between the involved parties.

A document ordering the importer to pay the exporter a specified sum of money at a specified time is called a ________.

Which of the following is a method of export/import financing in which the importer's bank issues a document stating that the bank will pay the exporter when the exporter fulfills the terms of the document?

A(n) ________ allows the bank to modify the terms of the letter only after obtaining the approval of both exporter and importer.

Which of the following letters of credit can be modified without obtaining approval from either the exporter or the importer, by the bank issuing the letter of credit?

A(n) ________ is guaranteed by both the exporter's bank in the country of export and the importer's bank in the country of import.

Letters of credit are popular among traders because most of the risks are assumed by ________.

Export/import financing in which an exporter ships merchandise and later bills the importer for its value is called ________.

The biggest advantage of an export management company is usually its ________.

Selling goods or services that are paid for, in whole or part, with other goods or services is called ________.

Which of the following refers to the exchange of goods or services directly for other goods or services without the use of money?

Which of the following is a contractual entry mode?

Which of the following is a contractual entry mode in which a company owning intangible property grants another firm the right to use that property for a specified period of time?

Which of the following statements is true of licensing?

Which of the following is a contractual entry mode in which one company supplies another with intangible property and other assistance over an extended period?

When one company is hired to design, construct, and test a production facility for a client, the arrangement is called ________.

Which of the following is an investment entry mode?

Which of the following is an advantage of wholly owned subsidiaries?

Which of the following types of joint ventures involve parties investing together in downstream business activities?

Which of the following is a disadvantage of strategic alliances?

Which of the following is true of counterfeit goods?

Which of the following is a marketplace of underground transactions that typically appear because a product is either illegal or tightly regulated?

The physical path a product follows on its way to customers is called a(n) ________.

Companies along a distribution channel that work together in delivering products to customers are called ________.

Developed nations normally have the most active counterfeiting markets.

Product life cycles are becoming shorter because companies are undertaking new product development at an increasingly rapid pace.

The rapid pace of technological innovation today extends the life cycles of products.

The term ________ refers to a company's efforts to reach distribution channels and target customers through communications such as personal selling, advertising, public relations, and direct marketing.

________ is a major component of a promotion mix.

Which of the following promotional strategies is being used by a company that hires a fleet of trucks to drive through village squares and hand out free trial packages to potential end users?

A promotional strategy designed to create buyer demand that will encourage channel members to stock a company's product is called a ________.

Which of the following is a push strategy that companies use to promote their products?

Which of the following is a promotional strategy designed to pressure channel members to carry a product and promote it to final users?

As a promotional strategy, manufacturers of products that are commonly sold through department and grocery stores often use ________.

A ________ is used for a product's promotion when there are many levels of intermediaries in its distribution channel.

Which of the following circumstances would best require a push strategy to be implemented for product promotion?

Which of the following circumstances would best require a pull strategy to be implemented for product promotion?

A ________ strategy is best suited for the promotion of industrial products because potential buyers usually need to be informed about a product's special features before purchase.

A company that makes its marketing program elements uniform, targeting an entire region with similar products, is demonstrating ________.

The process of sending messages about products to target markets is called ________.

Which of the following occurs when an idea to be communicated is translated into images, words, and symbols?

Once an audience receives a message, they interpret the meaning of the message by ________ it.

Which of the following reflects the correct sequence of the marketing communication process?

Which of the following refers to planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption?

A common example of a push strategy is the creation of consumer demand through direct marketing techniques.

A push strategy is the most efficient promotional strategy when distribution channels are lengthy.

Emerging markets typically have fewer forms of mass media for use in implementing a pull strategy.

A pull strategy is most appropriate when buyers display a great deal of brand loyalty toward one particular brand name.

Firms that standardize their advertising usually control campaigns from the home office.

In marketing, distribution is the process of sending promotional messages about products to target markets.

A pricing policy in which one selling price is established for all international markets is called ________.

A pricing policy in which a product has a different selling price in export markets than it has in the home market is called ________.

11) Product differentiation is more likely when nations share the same level of economic development.

12) A brand name can function as a legal property.

13) The value customers obtain from a product is heavily influenced by the image of the country in which the product is manufactured.

14) All company and product brand names are made up of morphemes.

15) Counterfeiting is common among highly visible brand-name consumer goods.

16) Developed nations normally have the most active counterfeiting markets.

7) Which of the following statements is true about international promotions?

1) ________ are imitation products passed off as legitimate trademarks, patents, or copyrighted works.

101) Under a turnkey project, one company supplies another with managerial expertise for a specific period of time.

100) The primary advantage of franchising is that franchisees have a great degree of organizational flexibility.

99) Franchising is primarily used in the manufacturing industries.

96) Which of the following is a disadvantage of strategic alliances?

95) A ________ joint venture is formed when each partner requires the same component in its production process.

85) Low tariffs and high quota limits encourage market entry by means of investment.

84) The most important disadvantage of a strategic alliance is that it can create a future local or even global competitor.

83) In a backward integration joint venture, the parties choose to invest together in downstream business activities.

72) The open account method of export/import financing is used when the two parties are unfamiliar with each other.

70) Advance payment made by an importer to an exporter normally takes the form of a sight draft.

69) Advance payment is the least favorable method of payment collection for exporters.

68) Matching market needs to the company's abilities is the first step in developing a successful export strategy.

22) The most common method used for buying and selling goods internationally is licensing.

23) Most large companies use exporting as a means of expanding total sales when the domestic market has become saturated.

24) Companies can achieve economies of scale by expanding into international markets.

25) Direct exporters always sell directly to end users.

26) Typically, indirect exporting relies on local sales representatives or distributors.

27) Using a distributor increases an exporter's risk.

28) Agency relationships are popular among exporters because they are easy to terminate should difficulties arise.

29) Countertrade provides a way for firms to trade either by using a small amount of hard currency or even none at all.

30) Countertrade is not an option for smaller companies because of the cash outlays involved.

31) Switch trading is the export of industrial equipment in return for products produced by that equipment.

32) A confirmed letter of credit is guaranteed by both the exporter's bank in the country of export and the importer's bank in the country of import.

33) Letters of credit are popular among traders because banks assume most of the risks.

34) The brand name or trademark of a company is normally the single most important item desired by a franchisee.