Question 1

Some Italian food brands are well known throughout the world;however,these foods are not globally exported.Describe the reasons giving examples.

Accepted Answer

Some Italian food brands,such as Ferrero (Nutella)and Barilla (pasta),are well known throughout the world.However,many of Italy's food companies,which represent about 15 percent of the country's overall economy,lack the money or the managerial expertise to export.Italy boasts myriad product categories that carry designations such as Denominazione Origine Controllata e Garantita (DOCG)and Denominazione Origine Protetta (DOP).Such a designation means,for example,that cheese marketed as Parmigiano-Reggiano can only be made from cow's milk from a certain part of Italy.Eataly's success has helped small-scale,artisanal wine,cheese,and prosciutto producers to reach new customers who are willing to pay premium prices for Italian quality and authenticity.Such limited designations also restrict the products from being exported.Many observers note that the "Made in Italy" movement got an additional boost from the 2015 World Expo in Milan.The theme of the Expo was "Feeding the Planet.Energy for Life." Perhaps not surprisingly,the Italian Pavilion showcased Italy's national food culture.Eataly was present at the 2015 Expo.

Question 2

The Harmonized Tariff System (HTS)is currently the dominant system for determining the correct classification number.

Accepted Answer

A) True 
 B)False  True

Question 3

The United States has given normal trade relations (NTR)status to some 180 countries.In actuality only four countries are excluded from this status which includes all of the following countries except:

Accepted Answer

A) North Korea. 
B) Iraq. 
C) Iran. 
D) Cuba. 
E) Libya. 
A) North Korea. 
B) Iraq. 
C) Iran. 
D) Cuba. 
E) Libya. B

Question 4

Foreign purchasing agents are also referred to as jobbers.

Accepted Answer

A) True 
 B)False

Question 5

"Tariff" is an ancient trading term derived from the Arabic word "ta'rif",which means "information" or "notification."

Accepted Answer

A) True 
 B)False

Question 6

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

Accepted Answer

A) in-house export organization. 
B) bank. 
C) freight forwarder. 
D) credit union. 
E) checking account. 
A) in-house export organization. 
B) bank. 
C) freight forwarder. 
D) credit union. 
E) checking account.

Question 7

Potential export problems include packaging,government red tape,warehousing,advertising,and trade restrictions.

Accepted Answer

A) True 
 B)False

Question 8

Governmental actions at times are designed to discourage imports and block market access.Why do governments want to curtail imports? Explain some of the barriers that are placed to discourage imports.

Accepted Answer

In order to promote domestic industries

Question 9

Which of the following incorrectly states the role of banks in import\export transactions involving a letter of credit (L\C)?

Accepted Answer

A) The exporter's bank is the advising and\or confirming bank. 
B) The importer's bank is the advising and\or confirming bank. 
C) The importer's bank is the advising,confirming,and issuing bank. 
D) The exporter's bank is the advising,confirming,and issuing bank. 
E) The importer's bank is neither advising nor confirming bank. 
A) The exporter's bank is the advising and\or confirming bank. 
B) The importer's bank is the advising and\or confirming bank. 
C) The importer's bank is the advising,confirming,and issuing bank. 
D) The exporter's bank is the advising,confirming,and issuing bank. 
E) The importer's bank is neither advising nor confirming bank.

Question 10

According to research,exporting is essentially a developmental process starting with the first stage when the firm exports to one or more markets on a trial basis.

Accepted Answer

A) True 
 B)False

Question 11

A nontariff barrier (NTB)is a hidden trade barrier that is a deterrent or obstacle to the sale of products in a foreign market.

Accepted Answer

A) True 
 B)False

Question 12

Governmental actions that discourage imports and block markets include all of the following except:

Accepted Answer

A) tariffs. 
B) free trade zones. 
C) subsidies. 
D) tax incentives. 
E) duties. 
A) tariffs. 
B) free trade zones. 
C) subsidies. 
D) tax incentives. 
E) duties.

Question 13

Export marketing is the integrated marketing of goods and services that are destined for customers in international markets.What does the marketing require?

Accepted Answer

Export marketing targets the customer in

Question 14

The only marketing mix element that is applicable in export selling is:

Accepted Answer

A) price. 
B) product. 
C) promotion. 
D) place. 
E) process. 
A) price. 
B) product. 
C) promotion. 
D) place. 
E) process.

Question 15

The Ministry of International Trade and Industry (MITI)has helped devise export strategies for companies in:

Accepted Answer

A) Singapore. 
B) South Korea. 
C) Taiwan. 
D) Hong Kong. 
E) Japan. 
A) Singapore. 
B) South Korea. 
C) Taiwan. 
D) Hong Kong. 
E) Japan.

Question 16

Export marketing requires all of the following except:

Accepted Answer

A) an understanding of the target market environment. 
B) the use of marketing research. 
C) identification of market potential. 
D) decisions concerning product design. 
E) reaching retail customers. 
A) an understanding of the target market environment. 
B) the use of marketing research. 
C) identification of market potential. 
D) decisions concerning product design. 
E) reaching retail customers.

Question 17

What are customs duties? How do they work in controlling imported goods?

Accepted Answer

There are two main categories of customs

Question 18

Representatives of the apparel,footwear,furniture,and textile industries in many countries are deeply concerned about the impact that increased trade with ________ will have on these sectors.

Accepted Answer

A) Hong Kong 
B) China 
C) Italy 
D) India 
E) Bangladesh 
A) Hong Kong 
B) China 
C) Italy 
D) India 
E) Bangladesh

Question 19

The top ranked country among those exporting apparels to the United States is:

Accepted Answer

A) Taiwan. 
B) China. 
C) Mexico. 
D) India. 
E) Honduras. 
A) Taiwan. 
B) China. 
C) Mexico. 
D) India. 
E) Honduras.

Question 20

Exports from China have grown significantly in the years since China joined the World Trade Organization (WTO).

Accepted Answer

A) True 
 B)False

Some Italian food brands are well known throughout the world;however,these foods are not globally exported.Describe the reasons giving examples.

The Harmonized Tariff System (HTS)is currently the dominant system for determining the correct classification number.

The United States has given normal trade relations (NTR)status to some 180 countries.In actuality only four countries are excluded from this status which includes all of the following countries except:

Foreign purchasing agents are also referred to as jobbers.

"Tariff" is an ancient trading term derived from the Arabic word "ta'rif",which means "information" or "notification."

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

Potential export problems include packaging,government red tape,warehousing,advertising,and trade restrictions.

Governmental actions at times are designed to discourage imports and block market access.Why do governments want to curtail imports? Explain some of the barriers that are placed to discourage imports.

Which of the following incorrectly states the role of banks in import\export transactions involving a letter of credit (L\C)?

According to research,exporting is essentially a developmental process starting with the first stage when the firm exports to one or more markets on a trial basis.

A nontariff barrier (NTB)is a hidden trade barrier that is a deterrent or obstacle to the sale of products in a foreign market.

Governmental actions that discourage imports and block markets include all of the following except:

Export marketing is the integrated marketing of goods and services that are destined for customers in international markets.What does the marketing require?

The only marketing mix element that is applicable in export selling is:

The Ministry of International Trade and Industry (MITI)has helped devise export strategies for companies in:

Export marketing requires all of the following except:

What are customs duties? How do they work in controlling imported goods?

Representatives of the apparel,footwear,furniture,and textile industries in many countries are deeply concerned about the impact that increased trade with ________ will have on these sectors.

The top ranked country among those exporting apparels to the United States is:

Exports from China have grown significantly in the years since China joined the World Trade Organization (WTO).

Introduction to Global Marketing

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political,legal,and Regulatory Environments

Global Information Systems and Market Research

Segmentation,targeting,and Positioning

Global Market Entry Strategies: Licensing, investment, and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions II: Sales Promotion, personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Strategic Elements of Competitive Advantage

Leadership, organization, and Corporate Social Responsibility

Filters

Exam 8: Importing,exporting,and Sourcing

Some Italian food brands are well known throughout the world;however,these foods are not globally exported.Describe the reasons giving examples.

The Harmonized Tariff System (HTS)is currently the dominant system for determining the correct classification number.

The United States has given normal trade relations (NTR)status to some 180 countries.In actuality only four countries are excluded from this status which includes all of the following countries except:

Foreign purchasing agents are also referred to as jobbers.

"Tariff" is an ancient trading term derived from the Arabic word "ta'rif",which means "information" or "notification."

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

Potential export problems include packaging,government red tape,warehousing,advertising,and trade restrictions.

Governmental actions at times are designed to discourage imports and block market access.Why do governments want to curtail imports? Explain some of the barriers that are placed to discourage imports.

Which of the following incorrectly states the role of banks in import\export transactions involving a letter of credit (L\C)?

According to research,exporting is essentially a developmental process starting with the first stage when the firm exports to one or more markets on a trial basis.

A nontariff barrier (NTB)is a hidden trade barrier that is a deterrent or obstacle to the sale of products in a foreign market.

Governmental actions that discourage imports and block markets include all of the following except:

Export marketing is the integrated marketing of goods and services that are destined for customers in international markets.What does the marketing require?

The only marketing mix element that is applicable in export selling is:

The Ministry of International Trade and Industry (MITI)has helped devise export strategies for companies in:

Export marketing requires all of the following except:

What are customs duties? How do they work in controlling imported goods?

Representatives of the apparel,footwear,furniture,and textile industries in many countries are deeply concerned about the impact that increased trade with ________ will have on these sectors.

The top ranked country among those exporting apparels to the United States is:

Exports from China have grown significantly in the years since China joined the World Trade Organization (WTO).

Introduction to Global Marketing

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political,legal,and Regulatory Environments

Global Information Systems and Market Research

Segmentation,targeting,and Positioning

Global Market Entry Strategies: Licensing, investment, and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions II: Sales Promotion, personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Strategic Elements of Competitive Advantage

Leadership, organization, and Corporate Social Responsibility

Filters