1) When a letter of credit is used in an import/export transaction, the payment
obligation lies with the importer’s bank rather than the importer itself.
2) Milan is widely regarded as the design capitol of the world. The year 2011 marked
the 50th anniversary of the “Milan Furniture Fair,” the world’s largest furniture and
home furnishings trade fair.
3) The relatively low profit potential in smaller markets justifies only modest
expenditures for marketing research.
4) The term “logistics” management describes the integration of activities necessary to
ensure the efficient flow of raw materials, in-process inventory, and finished goods
from producers to customers.
5) Since there is no letter which sounds like a “P” in Arabic, “Popeye’s” becomes “Bob
eyes” and Pepsi sounds like “Bebsi.” This is an example of difference due to phonology.
6) According to the generic strategy framework, cost leadership is a sustainable source
of competitive advantage if barriers exist that prevent competitors from achieving the
same low costs.
7) There is a significant difference between the “mass market” and the “premium
market.” In the premium market customers are looking for a good deal whereas in the
mass market customers are looking for a product that fulfills their expectations.
8) The digital revolution is a paradigm shift resulting from technological advances that
allow for the digitalization of analog sources of information, sounds, and images.
9) Microsoft is subject to U.S. antitrust laws no matter what country it is doing business
in.
10) The WTO recently ruled that America’s foreign sales corporation (FSC) law was
acceptable to signatory countries.
11) Intangible product attributes includes a brand’s overall reputation or mystique.
12) Japan has recently promised to speed up patent examinations, eliminate challenges
to patent submissions, and allow patent applications to be filed in English.
13) ECR is a joint initiative by members of the supply chain to work towards improving
and optimizing aspects of the supply chain to benefit managers.
14) The CEO of Otis Elevators says they measure elevator populations in countries as
units installed per thousand people. According to this, China is about half an elevator
per thousand people.
15) Under Economic Union, a doctor or lawyer qualified in one country can practice in
another member country.
16) A nontariff barrier (NTB) is a hidden trade barrier which is a deterrent or obstacle to
the sale of products in a foreign market.
17) The perceived value equation can be represented as Value = Price/Benefits.
18) The challenge of encoding and decoding slogans and taglines in different national
and cultural contexts can lead to unintentional errors.