MRKT 453 – Study Guide, Practice Questions & Exam Review
T/F A government boycott is a partial restriction against the purchase and importation of certain
goods and/or services from other countries - ✔✔False
T/F The decision taken by the World Trade Organization in solving trade disputes among
members are binding ones - ✔✔True
What is a characteristic of voluntary export restraint? (VER) - ✔✔The exporting country sets
the limits on the quantity it will export
T/F Quotas, boycotts, monetary barriers, and market barriers are examples of tariff barriers. -
✔✔False
What is true of the balance-of-payments? - ✔✔The fact that assets and liabilities in a balance-
of-payments statements does not mean that a nation is in a particularly good financial condition
A tax imposed by a government on goods entering at its borders is most accurately termed as
a(n) - ✔✔Tariff
T/F The United States and other countries require some products to contain a percentage of
"local content" to gain admission to their market - ✔✔True
The marketing manager for Grand Products wants to export the company's range of beer
products to a Gulf country. However, he discovers that there is a complete restriction on the
import of any form of liquor into that country. This is an accurate example of a(n) - ✔✔Boycott
The system of accounts that records a nation's international financial transactions is most
accurately called its - ✔✔Balance of payments
, T/F For companies today, becoming international is a luxury only some can afford. - ✔✔False
T/F The uncontrollable factors a company has to deal with decreases with the number of foreign
markets in which it operates. - ✔✔False
T/F Political and legal forces, economic climate, and compensation are some of the domestic
environment's controllable factors. - ✔✔False
T/F Level of technology remains unchanged across countries making it fairly controllable factors.
- ✔✔False
T/F The self-reference criterion is closely related with ethnocentrism. - ✔✔True
Which of the following is the most critical difference between domestic marketing and
international marketing? - ✔✔The environment in which marketing plans must be
implemented
Which of the following elements in the marketing environment poses a challenge to both
domestic and international marketers due to its dominantly uncontrollable nature? -
✔✔Political / Legal forces
Amy Sims has been assigned to the task of preparing a marketing plan for her company for the
upcoming year's business activities. She knows that she should begin her plan by examining the
variables that she has some control over. These controllable variables include price, product,
channels of distribution and _____ - ✔✔Promotion
In the infrequent foreign marketing stage of international marketing involvement, firms: -
✔✔Have no intention of maintaining continuous market representation in foreign markets
T/F A government boycott is a partial restriction against the purchase and importation of certain
goods and/or services from other countries - ✔✔False
T/F The decision taken by the World Trade Organization in solving trade disputes among
members are binding ones - ✔✔True
What is a characteristic of voluntary export restraint? (VER) - ✔✔The exporting country sets
the limits on the quantity it will export
T/F Quotas, boycotts, monetary barriers, and market barriers are examples of tariff barriers. -
✔✔False
What is true of the balance-of-payments? - ✔✔The fact that assets and liabilities in a balance-
of-payments statements does not mean that a nation is in a particularly good financial condition
A tax imposed by a government on goods entering at its borders is most accurately termed as
a(n) - ✔✔Tariff
T/F The United States and other countries require some products to contain a percentage of
"local content" to gain admission to their market - ✔✔True
The marketing manager for Grand Products wants to export the company's range of beer
products to a Gulf country. However, he discovers that there is a complete restriction on the
import of any form of liquor into that country. This is an accurate example of a(n) - ✔✔Boycott
The system of accounts that records a nation's international financial transactions is most
accurately called its - ✔✔Balance of payments
, T/F For companies today, becoming international is a luxury only some can afford. - ✔✔False
T/F The uncontrollable factors a company has to deal with decreases with the number of foreign
markets in which it operates. - ✔✔False
T/F Political and legal forces, economic climate, and compensation are some of the domestic
environment's controllable factors. - ✔✔False
T/F Level of technology remains unchanged across countries making it fairly controllable factors.
- ✔✔False
T/F The self-reference criterion is closely related with ethnocentrism. - ✔✔True
Which of the following is the most critical difference between domestic marketing and
international marketing? - ✔✔The environment in which marketing plans must be
implemented
Which of the following elements in the marketing environment poses a challenge to both
domestic and international marketers due to its dominantly uncontrollable nature? -
✔✔Political / Legal forces
Amy Sims has been assigned to the task of preparing a marketing plan for her company for the
upcoming year's business activities. She knows that she should begin her plan by examining the
variables that she has some control over. These controllable variables include price, product,
channels of distribution and _____ - ✔✔Promotion
In the infrequent foreign marketing stage of international marketing involvement, firms: -
✔✔Have no intention of maintaining continuous market representation in foreign markets
