Management 302 Examine 4

Time draft

When the warehouse manager received the draft with the shipment of textiles, he noticed that payment for the materials was not due for 60 days. This is an example of a _____ draft.

CORE

Which diagnostic tool on globalEDGE helps firms assess their exporting proficiency and identifies the firm's strengths and weaknesses within the context of exporting?

Bill of lading

Which document shows that a carrier has received the merchandise?

Standardized advertising spreads the costs of ad development over many countries thereby lowering the costs of value creation

Which of the following characterizes the costs of standardized advertising?

Buyback

A ________ agreement involves taking a percentage of a company's output as partial payment.

Circular

A counter purchase agreement is BEST described as

Fragmented

A proliferation of retailers in a given market would be found in a ______ retail system.

When distribution channels are long and when selling consumer goods

A pull strategy would be emphasized in which two of the following situations?

Discount

After the US completed a counter purchase agreement with Indonesia, it ended up with counter purchase credits. Since it had no use for these credits, it sold them to a third-party trading house. These credits would be sold to the third-party at a ___________.

Draft

An order written by an exporter which tells the importer to pay $1 by June 20th is an example of a _____.

Letter of credit

When an importer is in a strong bargaining position and is pitting competing suppliers against one another, an exporter might be forced to forego a ____ in order to get the order.

Experience curve

Companies that price products low worldwide in attempt to build global sales volume as rapidly as possible are implementing _____ pricing.

Sales volume

Companies the implement experience curve pricing hope to rapidly build:

Price discrimination

When consumers in Belgium are charged lower prices for no particular reason for Nike shoes than consumers in Italy, it is an example of ____.

1. Setting objectives for the research 2. Defining the research problem

Defining the research objectives includes which two of the following?

Communication

Direct selling, sales promotion, direct marketing, and advertising are all examples of a company's ________ channels.

More

Forecasts anticipate that intermarket segments will become ____ common in developed and emerging country markets.

Few

In a concentrated retail system, most of the market is supplied by ______ retailers.

Inadequate market analysis

Marcus's company began exporting their line of ski-wear to Australia last year but soon realized that there was little need for the products in that country. Why did this company's attempt to export not succeed?

Barter

Michael doesn't have the money to buy a new car and he wishes he could trade in his old car, his bicycle, and his computer to buy a new car. If Michael was running a company this way, what type of counter trade would he be thinking about for this?

Piggyback

Michelle contacted another company to see if they could provide the lawnmowers she needed for an overseas client because her company does not produce lawnmowers. This type of arrangement is an example of _____ marketing.

Channel quality

Natalie is happy to work with the retailers that she has relationships within London. They are able to sell and support her US-made product line and are experts in the field. Natalie is basing her opinions on which of the following.

Discrimination

Price ________ exists when customers in different countries are charged different prices for the same product.

Marketing mix

Product availability and the pricing of those products are essential components of the _____________.

1. A receipt 2. A document of title 3. A contract

The bill of lading acts as _______.

Channel quality

The expertise, competencies, and skills of established retailers in a nation and their resulting ability to sell and support products of international business refers to____.

Cultural

The frozen food division of Nestle markets fish cakes and fish fingers in Great Britain but focuses on marketing boeuf bourguignon and coq au vin in France. This reflects how Nestle is taking _______ differences into account when selling their products.

Foreign Credit Insurance Association and the Export-Import Bank

The government provides two sources of assistance to US exporters to finance their export programs. The two sources are ____ and ____.

Marketing mix

The set of choices a firm offers to its target markets, such as the products available and the pricing of those products, is known as the ______.

1. Significant economic advantages 2. Many brand names are global 3. One large advertising effort will produce better results

The text presents three arguments in support of global advertising. What are those three arguments?

1. New products are developed for ease of manufacture 2. Development costs are kept in check

Tight cross-functional integration between R&D, production, and marketing allows a company to ensure that which two of the following will be accomplished?

False

True or false: An exporter has greater flexibility when using a straight counter purchase agreement rather than an offset agreement.

1. Retail concentration 2. Channel exclusivity 3. Channel quality 4. Channel length

What are the four main differences between distribution systems?

1. Experience curve pricing 2. Multipoint pricing 3. Predatory pricing

What are the three elements of strategic pricing?

Buyback, barter, and counter purchase

What are three forms of counter trade?

Firms may not get what they want or can use and since the exchange of goods are not simultaneous, one firm finances the other.

What are two drawbacks of bartering?

Government embassy

What is a resource for finding confirming houses?

Combine smaller shipments into a single large shipment to lower shipping costs

What is the primary task of a freight forwarder?

It specifies an amount to be paid and when it should be paid

What is the purpose of a bill of exchange?

Export-Import Bank

What organization is an independent agency of the US government that was set up to provide financing to facilitate exports, imports, and the exchange of commodities?

1. Name of potential distributor in a foreign market 2. Products sold by potential distributors in a foreign market

What would be included on a "best prospects" list supplied by the US Department of Commerce?

Dumping

When Carlos learned that the inventory levels were still at 90%, he instructed the sales team to sell the product 35% lower than the cost to produce the product in order to bring the inventory down to acceptable levels. This demonstrates the idea of ____.

Push

When a company uses a _____ strategy, it emphasizes personal selling rather than mass media advertising.

Service Corps of Retired Executives

Which of the following organizations oversees volunteers who have international trade experience and who use this experience to provide one-on-one counseling to active and new export businesses?

1. Not changing products to meet the foreign markets 2. Difficulty securing financing 3. Poorly executed promotional campaign

Which of the three of the following are seen as pitfalls of exporting?

1. Material injury to a domestic industry 2. Sales at less than fair value

Which two criteria must be met for a country to bring antidumping actions against an importer?

Nielsen and Kantar

Which two of the following organizations are prominent in the field of international market research?

Exclusive

Which type of distribution channels are in place when it is difficult for new firms to gain access to retail space?

Drawee

While a maker initiates a draft, the party to whom the draft is presented is called the

Multipoint

_____ pricing exists when a company's pricing in one national market has an impact on the way a rival prices its products in another national market.

Intermarket

________ segmentation refers to forming segments of consumers who have similar needs and buying behavior even though they are located in different countries.

An offset

_________ occurs when a firm agrees to purchase goods from any firm in a country where a sale has been made with a percentage of the proceeds from an original sale.