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IBUS 430 MIDTERM 1 EXAM STUDY GUIDE SOLUTIONS
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IBUS 430 MIDTERM 1 EXAM STUDY GUIDE SOLUTIONS TOP 5 U.S. Markets Goods Exports - ANSWER1.Canada 2. Mexico 3.China 4. Japan 5.UK 6. Germany Growing importance of international marketing - ANSWERGreater opportunities for enterprises of all sizes, including sole proprietorships, to sell to ot...

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  • October 30, 2024
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  • 2024/2025
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©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED

FIRST PUBLISH OCTOBER 2024




IBUS 430 MIDTERM 1 EXAM STUDY GUIDE

SOLUTIONS


TOP 5 U.S. Markets Goods Exports - ANSWER✔✔1.Canada


2. Mexico


3.China


4. Japan


5.UK


6. Germany


Growing importance of international marketing - ANSWER✔✔Greater opportunities for enterprises of all

sizes, including sole proprietorships, to sell to other countries;


Increasing threats from companies and competitors in other countries;


Importance of international sales in spreading risk, increasing profits, covering R&D costs, understanding

emerging challenges;


Increasing dependence of national and regional economic health on export sales.

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, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED

FIRST PUBLISH OCTOBER 2024




Reasons for the Rapid Growth - ANSWER✔✔The information revolution with technological advances and

lowered costs in communications, the Internet and e-commerce, new communications networks

allowing companies to interact effectively will all stakeholders.


The further development of logistics and supply chain management - ANSWER✔✔increasing the speed

and efficiency of moving goods internationally


Reasons for the Rapid Growth(2) - ANSWER✔✔The increased importance of innovation as ideas and

advances in technologies, strategies and business models spread more rapidly.


The recognition that increasing incomes and the increasingly diverse populations in some countries have

provided new and more segmented markets.


Reasons for the Rapid Growth(3) - ANSWER✔✔The lowering of governmental and other barriers to trade

and investment, and great changes in international trade patterns.


The increased competition and increased opportunities for companies of all sizes resulting from the

greater mobility of goods, services, information and ideas due to all of the changes noted above.


Turbulence in the International Marketplace - ANSWER✔✔Creation of new businesses, new markets,

new ways of doing business, new methods of interacting with customers;


Intensified competition;


Diseases, terrorism, internal unrest, wars and threats of wars;


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, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED

FIRST PUBLISH OCTOBER 2024




Pirating of goods, fakes, contaminated and/or dangerous products;


Increased emphasis on ethics and social responsibility.


Being effective: The Nature of International Marketing - ANSWER✔✔The nature of international

marketing and its unique requirements;


The alternative approaches to organizing and carrying out international activities;


The basic decisions that must be made; and


The similarities and differences between domestic and international marketing.


International marketing - ANSWER✔✔is the marketing of goods, services, and information across

international boundaries.


Same elements as domestic marketing: planning, promoting, distributing, pricing and support of the

goods, services, and information


Activities adjusted to accommodate differences in markets: - ANSWER✔✔(a) analysis of markets


(b) planning and development of products and services


(c) distribution channels


(d) promotion




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, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED

FIRST PUBLISH OCTOBER 2024




(e) setting prices


(f) support before and after sales


(g) organization structure, management, and remuneration of employees


(a) analysis of markets


(b) planning and development of products and services


(c) distribution channels


(d) promotion


(e) setting prices


(f) support before and after sales


(g) organization structure, management, and remuneration of employees - ANSWER✔✔Activities

adjusted to accommodate differences in markets:


Internationalization viewed as - ANSWER✔✔a process, an end-results, a way of thinking.


International marketing - ANSWER✔✔is a broad term for any type of marketing across national

boundaries.




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