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1) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. A) Strategy B) Marketing C) Production D) Management 2) Promotion primarily involves A) developing tangible and intangible features that meet customer needs in diverse markets B) developing policies that generate revenue and strategically shape the competitive environment C) devising ways to enhance the desirability of the product to potential buyers D) getting products to customers via transportation and merchandising 3) Which element of the marketing mix includes the development of policies that bring in revenue and strategically shape the competitive environment? A) product B) pricing C) promotion D) place 4) Which element of the marketing mix includes devising ways to enhance the desirability of the product or service to potential buyers? A) product B) pricing C) promotion D) place 5) What is the function of pricing in the marketing mix? A) assessing customer needs and values B) developing policies that generate revenue C) increasing the desirability of the product to buyers D) transporting products to customers quickly and inexpensively 6) IBM is working to adapt its advertising campaign for a market in Europe. What element of the marketing mix is being addressed in this example? A) product B) pricing C) promotion D) place 8) Which of the following is asserted by advocates of standardization? A) customizing products is essential for high profits B) customers in developed countries are similar C) emerging economies are competitive D) differentiation indicates bias 9) What advantage does a firm that standardizes its international marketing mix achieve? A) market share B) niche revenues C) economies of scale D) economies of scope 10) Which of the following is an advantage of standardized international marketing? A) reduces marketing costs B) reflects different conditions of product use C) facilitates decentralized control of marketing D) prevents economies of scale in production 11) Which of the following is a disadvantage of customized international marketing? A) creates inefficiencies in R\&D B) ignores different conditions of product use C) inhibits local marketing initiatives D) ignores differences in buyer behavior patterns 12) Which component of the marketing mix encompasses all efforts by an international firm to enhance the desirability of its products among potential buyers? A) product B) price C) place D) promotion 13) Which term refers to the mix of advertising, personal selling, sales promotion, and public relations used by a firm to market its products? A) marketing mix B) promotion mix C) public relations mix D) communications mix 14) Which of the following is one of the elements of the promotion mix? A) advertising B) e-commerce C) the internet D) human resources 15) What element of the promotion mix promotes a close, personal contact with customers? A) advertising B) public relations C) personal selling D) sales promotions 16) is the process of getting products and services from the firm into the hands of customers. A) Product development B) Distribution C) Marketing D) Promoting 17) Theresa, an importer, uses a variety of payment methods when paying for goods. Which of the following forms of payment provides the most risk to Theresa? A) letter of credit B) wire transfer C) open account D) payment in advance 18) Theresa, an importer, uses a variety of payment methods when paying for goods. Which of the following is most likely the safest for Theresa? A) letter of credit B) wire transfer C) open account D) payment in advance 19) When paying via , the goods are shipped by the exporter and received by the importer before payment, and the exporter then bills the importer for the goods, stipulating the amount, form, and time at which payment is expected. A) payment in advance B) open account C) letters of credit D) countertrade 20) Why would an exporter most likely consider an open account undesirable? A) high fees from host country governments B) heavy reliance on financial institutions C) significant paperwork required D) working capital tied up 22) What document serves as a title to the goods in question under the document collection payment method? A) sight draft B) bill of lading C) bill of exchange D) trade acceptance 23) A requires payment upon the transfer of title to the goods from the exporter to the importer. A) sight draft B) time draft C) bill of lading D) bill of exchange 24) A extends credit to the importer by requiring payment at some specified time after the importer receives the goods. A) sight draft B) time draft C) bill of lading D) bill of exchange 25) Which document is issued by a bank and contains its promise to pay the exporter on receiving proof that the exporter has fulfilled all requirements specified in the document? A) bill of lading B) bill of exchange C) letter of credit D) trade acceptance Part 2 - True or False 26) The marketing mix involves a firm's product, price, promotion, and place. 27) Standardization allows the firm to develop cost efficiencies in manufacturing, distribution, and promotion while customization allows a firm to tailor the marketing mix to meet customer needs. 28) Customized international marketing creates efficiencies in research and development and production. 29) Exchange rate fluctuations contribute to challenges in pricing. 30) Product is the most culture bound of the four Ps. 31) The payment method of open account is appropriate when the exporter has complete trust in the importer. 32) Payment in advance is the riskiest method from the exporter's perspective. 33) Open account is the safest form of payment from the importer's perspective. 34) Both payment in advance and open account share the characteristic of shifting the cash flow burden and risk of default to one party in a transaction. 35) Open accounts are best suited for well-established, long-term customers or larger firms with impeccable credit ratings. 36) A sight draft requires payment prior to the shipment of the goods. 37) The functions of marketing are different internationally. 38) The achievement of standardized marketing programs in foreign markets is a realistic target. 39) If a firm has a sales or marketing subsidiary abroad it is essentially exporting to itself. 40) International marketing occurs when the firm is engaged in licensing. 41) A foreign customer's definition of the firm's product is the same as its domestic customer's definition. 42) Promotional aspects of packaging will often vary among foreign markets. 43) The firm is more likely to have the same brand all over the world on its secondary products than on its primary products. 44) A firm might drop a product domestically while accelerating its marketing in markets abroad. 45) One of the tasks of the export management is to decide whether to quote prices f.o.b. or c.i.f. 1) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. A) Strategy B) Marketing C) Production D) Management 2) Promotion primarily involves A) developing tangible and intangible features that meet customer needs in diverse markets B) developing policies that generate revenue and strategically shape the competitive environment C) devising ways to enhance the desirability of the product to potential buyers D) getting products to customers via transportation and merchandising 3) Which element of the marketing mix includes the development of policies that bring in revenue and strategically shape the competitive environment? A) product B) pricing C) promotion D) place 4) Which element of the marketing mix includes devising ways to enhance the desirability of the product or service to potential buyers? A) product B) pricing C) promotion D) place 5) What is the function of pricing in the marketing mix? A) assessing customer needs and values B) developing policies that generate revenue C) increasing the desirability of the product to buyers D) transporting products to customers quickly and inexpensively 6) IBM is working to adapt its advertising campaign for a market in Europe. What element of the marketing mix is being addressed in this example? A) product B) pricing C) promotion D) place 8) Which of the following is asserted by advocates of standardization? A) customizing products is essential for high profits B) customers in developed countries are similar C) emerging economies are competitive D) differentiation indicates bias 9) What advantage does a firm that standardizes its international marketing mix achieve? A) market share B) niche revenues C) economies of scale D) economies of scope 10) Which of the following is an advantage of standardized international marketing? A) reduces marketing costs B) reflects different conditions of product use C) facilitates decentralized control of marketing D) prevents economies of scale in production 11) Which of the following is a disadvantage of customized international marketing? A) creates inefficiencies in R\&D B) ignores different conditions of product use C) inhibits local marketing initiatives D) ignores differences in buyer behavior patterns 12) Which component of the marketing mix encompasses all efforts by an international firm to enhance the desirability of its products among potential buyers? A) product B) price C) place D) promotion 13) Which term refers to the mix of advertising, personal selling, sales promotion, and public relations used by a firm to market its products? A) marketing mix B) promotion mix C) public relations mix D) communications mix 14) Which of the following is one of the elements of the promotion mix? A) advertising B) e-commerce C) the internet D) human resources 15) What element of the promotion mix promotes a close, personal contact with customers? A) advertising B) public relations C) personal selling D) sales promotions 16) is the process of getting products and services from the firm into the hands of customers. A) Product development B) Distribution C) Marketing D) Promoting 17) Theresa, an importer, uses a variety of payment methods when paying for goods. Which of the following forms of payment provides the most risk to Theresa? A) letter of credit B) wire transfer C) open account D) payment in advance 18) Theresa, an importer, uses a variety of payment methods when paying for goods. Which of the following is most likely the safest for Theresa? A) letter of credit B) wire transfer C) open account D) payment in advance 19) When paying via , the goods are shipped by the exporter and received by the importer before payment, and the exporter then bills the importer for the goods, stipulating the amount, form, and time at which payment is expected. A) payment in advance B) open account C) letters of credit D) countertrade 20) Why would an exporter most likely consider an open account undesirable? A) high fees from host country governments B) heavy reliance on financial institutions C) significant paperwork required D) working capital tied up 22) What document serves as a title to the goods in question under the document collection payment method? A) sight draft B) bill of lading C) bill of exchange D) trade acceptance 23) A requires payment upon the transfer of title to the goods from the exporter to the importer. A) sight draft B) time draft C) bill of lading D) bill of exchange 24) A extends credit to the importer by requiring payment at some specified time after the importer receives the goods. A) sight draft B) time draft C) bill of lading D) bill of exchange 25) Which document is issued by a bank and contains its promise to pay the exporter on receiving proof that the exporter has fulfilled all requirements specified in the document? A) bill of lading B) bill of exchange C) letter of credit D) trade acceptance Part 2 - True or False 26) The marketing mix involves a firm's product, price, promotion, and place. 27) Standardization allows the firm to develop cost efficiencies in manufacturing, distribution, and promotion while customization allows a firm to tailor the marketing mix to meet customer needs. 28) Customized international marketing creates efficiencies in research and development and production. 29) Exchange rate fluctuations contribute to challenges in pricing. 30) Product is the most culture bound of the four Ps. 31) The payment method of open account is appropriate when the exporter has complete trust in the importer. 32) Payment in advance is the riskiest method from the exporter's perspective. 33) Open account is the safest form of payment from the importer's perspective. 34) Both payment in advance and open account share the characteristic of shifting the cash flow burden and risk of default to one party in a transaction. 35) Open accounts are best suited for well-established, long-term customers or larger firms with impeccable credit ratings. 36) A sight draft requires payment prior to the shipment of the goods. 37) The functions of marketing are different internationally. 38) The achievement of standardized marketing programs in foreign markets is a realistic target. 39) If a firm has a sales or marketing subsidiary abroad it is essentially exporting to itself. 40) International marketing occurs when the firm is engaged in licensing. 41) A foreign customer's definition of the firm's product is the same as its domestic customer's definition. 42) Promotional aspects of packaging will often vary among foreign markets. 43) The firm is more likely to have the same brand all over the world on its secondary products than on its primary products. 44) A firm might drop a product domestically while accelerating its marketing in markets abroad. 45) One of the tasks of the export management is to decide whether to quote prices f.o.b. or c.i.f
