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Exam 13: Export and Import

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Question 41

Multiple Choice

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Which of the following best describes the concept of serendipity in exporting?

A) modifying products to meet cultural preferences
B) initiating global sales through e-commerce methods
C) relying too much on exports when domestic sales suddenly increase
D) opportunistically responding to unsolicited orders from foreign customers

E) All of the above
F) B) and C)

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Question 42

Multiple Choice

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As described in the opening case,SpinCent's CEO analyzed foreign markets,assessed industries,prepped his company,traveled overseas,and hired trustworthy distributors. SpinCent manages the export process including making and marketing its products for foreign buyers. The nature of these activities shows that the leadership of SpinCent is committing the company to ________.

A) countertrade
B) direct exporting
C) indirect exporting
D) third party logistics

E) C) and D)
F) A) and D)

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Question 43

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According to surveys,the most common concern regarding international trade is a shortage of working capital to finance exporting activities.

Fair Day Paper Products is a family-owned start up that imports bamboo paper from China to make custom greeting cards. The firm has experienced many problems in receiving the supplies from China; recurring problems include lost shipments,delays,and damaged products. Fair Day would most likely benefit by enlisting the help provided by which of the following?

Countertrade is an efficient way of doing business.

The U.S. government has more than 10,000 tariff classifications and more than half of them are subject to interpretation.

Vantex Fabrics is a U.S. firm that designs,manufactures,and sells high-quality fabrics used for home decor. Executives at the firm believe that Vantex could significantly increase its profitability by exporting fabrics to foreign markets. The vice president of marketing is in favor of exporting to England,while the vice president of finance asserts that the firm would benefit most from exporting to China. Which of the following,if true,best supports the vice president of marketing's suggestion?

Iverson Products is a U.S. firm that is considering expanding internationally by exporting. Which of the following is the LEAST likely benefit for Iverson?

Morris Lighting is a U.S. firm that wants to start exporting its high-end lighting fixtures to foreign markets. Morris Lighting should seek assistance from U.S. government agencies for all of the following EXCEPT ________.

According to the text,technological advances such as e-mail and VoIP have increased the appeal of international trade because it is now easy and inexpensive to manage customer needs and communicate with customers frequently.

Ownership advantages refer to a firm's specific assets,international experience,and the ability to develop either low-cost or highly differentiated products within the context of its particular value chain.

According to the research described in your text,which of the following is among the factors that would increase a firm's probability of exporting?

The Internet supports more companies' efforts to launch a direct exporting strategy by ________.

Which of the following is NOT one of the three main types of importers?

A major pitfall of exporting is misclassifying products in terms of the destination country's tariff schedule,thereby incurring a higher tax or slower delivery.

Companies new to exporting most frequently suffer over-commitment by top management in taking on the initial difficulties and financial requirements of exporting.

In what is known as direct exporting,the exporter sells goods directly to or through an independent domestic intermediary in the exporter's home country that then exports the products to foreign markets.

In designing an export plan,managers initially do all of the following EXCEPT ________.

Meade Clocks has hired an intermediary to manage its export activity. Meade should most likely expect ________.

An export trading company (ETC)works with many manufacturers rather than representing a single manufacturer.