Download Test 3 | MKTG - International Marketing and more Quizzes Political Economy in PDF only on Docsity!
Specific export mechanics occur when: goods are shipped from one country to another TERM 2 You can't escape them Can be sped up, but cannot be eliminated DEFINITION 2 Export mechanics TERM 3 International marketers must: DEFINITION 3 meet the legal requirements involved in moving goods from one country to another TERM 4 Export regulations are: DEFINITION 4 designed to conserve scarce goods for home consumption to control the flow of strategic goods to actual or potential enemies TERM 5 Import regulations are: DEFINITION 5 imposed to protect health, conserve foreign exchange, serve as economic reprisals, protect home industry, provide revenue in the form of tariffs ensure national security
Timely movement of raw materials, parts, and supplies through the firm Materials Management TERM 7 Movement of the firm's product to its customers DEFINITION 7 Physical distribution TERM 8 Which phase of International logistics is the marketing function most active in managing? DEFINITION 8 Materials Management TERM 9 Leaving the exporting country requires: DEFINITION 9 Licenses: General Validated Documentation: Export declaration Commercial invoice Bill of lading Consular invoice TERM 10 Entering the Importing Country requires: DEFINITION 10 Tariffs, and taxes Nontariff barriers: Standards Inspection Documentation Quotas Fees Licenses
Permits exportation of certain products that are not subject to EAR control with nothing more than a declaration of the type of General license TERM 17 Issued only on formal application Specific document Specific limitations DEFINITION 17 Validated license TERM 18 The ____ is responsible for selecting the proper classification number, and determining the ultimate end customer and use DEFINITION 18 Exporter TERM 19 Classification number for the item to be exported DEFINITION 19 Export Control Classification Number (ECCN) TERM 20 Indicates the exportability status of the item DEFINITION 20 Commerce Control List (CCL)
-A freight forwarding firm is listed as the product's final destination -When questioned, buyer is unclear -Product doesn't fit Red Flags TERM 22 Exports that might be contrary to the national security DEFINITION 22 Red Flags TERM 23 enables exporters that have authorization to submit license applications via internet, expect supercomputers DEFINITION 23 ELAIN (Export License Application and Information Network) TERM 24 -Automated voice response system for tracking applications -accessed by phone - 24/7 service DEFINITION 24 STELA (System for Tracing Export License Applications) TERM 25 -A supplementary service to ELAIN -Allows an exporter to submit commodity classification requests via internet DEFINITION 25 ERIC (Electronic Request for Item Classification)
-Includes: cost of goods, transportation -The cost of insurance is borne by the buyers C&F (Cost and freight) TERM 32 -Includes: cost of goods and charges for delivery of the goods alongside the shipping vessel -Buyer is responsible for: cost of DEFINITION 32 FAS (Free alongside) -Seller till it's in the air or ocean TERM 33 -At a named port of exportation, or a named vessel and port of export -Price includes: Cost of goods, and delivery to the place DEFINITION 33 FOB (Free on board) -Buyer TERM 34 -Price quoted covers costs only at the point of origin -All other charges are the buyer's concern DEFINITION 34 EX (Named port of origin) -Buyer TERM 35 Most common Incoterms: DEFINITION 35 CIF FAS EX DDP (Delivered, duty paid)
___ are powerful competitive tools for buyers and exporters Incoterms TERM 37 Incoterms must have a ___ DEFINITION 37 named destination (i.e. city/port, warehouse, business location) TERM 38 __ is not usually recommended anymore for international shipments, unless airfreight. DEFINITION 38 FOB TERM 39 -The amount of payment and need for protection -Terms -Practices -Capacity for financing -Relative strength DEFINITION 39 are critical international sales considerations when negotiation terms of payment TERM 40 Not widely used except for the first time transactions DEFINITION 40 Cash in Advance
-an exact date for payment -not affect by movement of goods 30-180 days date draft TERM 47 requires acceptance and payment on presentation of the draft and often before arrival of the goods DEFINITION 47 Sight draft TERM 48 -Credit of one or more banks is involved - seller assumes all risk until the actual dollars are received DEFINITION 48 Bills of Exchange (also known as dollar drafts) TERM 49 -Bank acts as collection agent -Draft may be sold at discounted rate for immediate cash DEFINITION 49 Documentary collection TERM 50 Places unpopular burdens on the customer DEFINITION 50 Cash in advance
-Not generally made in foreign trade unless relationships are firmly established -Leaves sellers at a disadvantage Open accounts TERM 52 Seller makes a one-time arrangement with a financial institution to take over responsibility for collecting the account receivab DEFINITION 52 Forfaiting TERM 53 Present at the port of exit includes: names and addresses involved destination of goods full description of goods declared value DEFINITION 53 Export Documents TERM 54 -Obtained from the country's consulate - Returned with 2-8 copies in the language of the country -w/copies of other required doc DEFINITION 54 Consular Invoice or Certificate of Origin TERM 55 -The most important document -is necessary for establishing legal ownership and facilitating financial transactions DEFINITION 55 Bill of Lading
All countries must regulate the ___. marking of imported goods and containers TERM 62 Area where goods can be imported for storage, where tariffs and quota limits are postponed until they leave DEFINITION 62 Customs-privileged facilities TERM 63 Free ports used to promote foreign trade DEFINITION 63 Foreign trade zones (FTZs) TERM 64 Request for a refund from the government of duties paid Ex. Goods are imported into the US to be combined with American made goo DEFINITION 64 Drawback TERM 65 Total systems approach to management of the distribution process including: moving raw material in process inventory Finished go DEFINITION 65 Logistics management
Factors necessary for the use of logistics as a competitive tool: Close collaboration (with suppliers and customers) Technologically advanced information processing Integrated business infrastructure TERM 67 Physical movement of goods Location of storage Transportation mode Inventory quantities Packing DEFINITION 67 Physical distribution system TERM 68 In physical distribution, one activity affects the cost and efficiency of one or all others DEFINITION 68 .. TERM 69 Sum of each of the different activity cost entail an infinite number of __ DEFINITION 69 Total costs TERM 70 Benefits of a Physical Distribution System: DEFINITION 70 Cost advantages Optimal inventory levels Optimal production capacity More dependable delivery service to the market Can render natural obstructions created by geography
Electronic tracking(C-TPAT) include: RFID (Radio Frequency Identification) GPS Cellular Bluetooth Bar Codes TERM 77 What are RFID tags? DEFINITION 77 A tag that tracks a container or pallet while in transit. Contains a transponder and a reader TERM 78 Integrated marketing communications (IMC) are composed of: DEFINITION 78 Advertising Sales promotions Trade shows Personal selling Direction selling Public relations Internet TERM 79 ___ of appropriate communication channels can determine entry decisions DEFINITION 79 Availability TERM 80 Marketing activities that stimulate consumer purchases Short term efforts directed to the consumer or retailer Ex: samples, coup DEFINITION 80 Sales Promotions
Creating good relationships with the popular press and other media managing unfavorable rumors, stories, etc Public Relations (PR) TERM 82 Seven steps of International Advertising: DEFINITION 82 Perform marketing research Specify the goals of the communication Develop the most effective message(s) for the market segments selected Select effective media Compose and secure a budget Execute the campaign Evaluate the campaign relative to the goals specified TERM 83 Different cultures usually agree on the benefit of the ___ function of a product or service DEFINITION 83 Primary TERM 84 Secondary features and psychological attributes of the item can have significant differences DEFINITION 84 Ex. Cameras United Sates, excellent pictures with easy, foolproof operation are expected Japan, a camera must take excellent pictures, but must also be sate of the art in design Africa, concept of picture taking must be sold TERM 85 ___ assumes that no two markets will react the same -each has it's own set of differences DEFINITION 85 Blue Diamond (makes almonds)
Executive with a product message to communicate An information source TERM 92 The message from the source converted into effective symbolism for transmission to a receiver DEFINITION 92 encoding TERM 93 The sales force or advertising media that convey the encoded message to the receiver DEFINITION 93 Message channel TERM 94 The interpretation by the receiver of the symbolism transmitted from the information source DEFINITION 94 decoding TERM 95 Consumer action by those who receive the message and are the target for the thought transmitted DEFINITION 95 Receiver
Information about the effectiveness of the message from the receiver Feedback TERM 97 Uncontrollable and unpredictable influences such as competitive activities and confusion that detract the process of the other 6 DEFINITION 97 Noise TERM 98 -Comparative advertising -Advertising of specific products -Control of advertising on television DEFINITION 98 Local legal constraints TERM 99 ___ is one of the major barriers to effective communication through advertising DEFINITION 99 Language TERM 100 ___ of cultural diversity must encompass the total advertising project DEFINITION 100 Knowledge
