Term
| Why did Mr. Siegel start Orb Audio? |
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Definition
| to spend more time with his wife |
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Term
| What was the reason of the increase in demand for Orb Audio products in 2008? |
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Definition
| value of the dollar dropped |
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Term
| Why does Orb Audio have a strong presence in Finland? |
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Definition
| someone wrote a nice review on there speakers in an internet forum |
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Term
| What is the National Export Initiative? |
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Definition
| a program aimed at doubling American exports in five years |
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Term
| How does Export-Import Bank of the United States help exporters? |
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Definition
| provides export financing when private banks will not |
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Term
| What percent of the U.S. companies export? |
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Definition
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Term
| How is this number compared to other developed countries? |
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Definition
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Term
| What are the four tips for increasing sales in international markets? |
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Definition
choose a market
build relationships
customize your products
remember to make a profit |
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Term
| What are the factors discussed about the small businesses under “Choose a market” tip? |
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Definition
| small businesses do not know how to do that abroad |
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Term
| What did Mr. Siegel use to be proactive in direct-to-customer sales? |
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Definition
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Term
| What does Mr. Paredes advise exporters? |
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Definition
| classify their products under the internationally standardized Harmonized Commodity Description and Coding System |
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Term
| What is Harmonized Commodity Description and Coding system used for? |
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Definition
| to determine which countries are importing what products |
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Term
| How does the relationship building differ between U.S. and other countries? |
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Definition
| Americans are straight to business while other countries require serious relationship building |
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Term
| Why relationship building is important in international markets? |
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Definition
| relationships are the holy grail of cross-border businesses |
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Term
| What did Mr. Williams learn about doing business in Japan? |
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Definition
eat there food with a smile
learn to use chopsticks
introduce yourself to the top person first |
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Term
| According to Mr. Campbell, what is the first thing you need to ask yourself while making product decisions? |
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Definition
| can someone make it cheaper in China, India or Vietnam |
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Term
| What type of product modification did the paint company do when they entered the Australian market? |
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Definition
|
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Term
| What type of product modification did the shaving cream do when they entered the Canadian market? |
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Definition
|
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Term
| Why profit margins are lower in exporting? |
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Definition
| shipping costs, import duties, compliance requirements and added middlemen |
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Term
| How much did adding a box increased Mr. Schroeder’s cost? |
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Definition
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Term
| What is the mistake that the exporters often make? |
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Definition
| signing contracts before they understand market regulations |
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