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Master of
Business Administration - MBA Semester 4
MK0018-International
Marketing
(Book ID:
B1699)
Assignment (60 Marks)
Note: Answer
all questions must be written within 300 to 400 words each. Each Question
carries 10 marks 6 X 10=60.
Q1. Differentiate between GATT and WTO.
Answer.
General Agreement on Tariff and Trade (GATT):
The GATT, was established on a
provisional basis after the Second World War in the wake of other new
multilateral institutions dedicated to international economic cooperation —
notably the “Britton Woods” institutions now known as the World Bank and the
International Monetary Fund.
The original 23 GATT countries were
among over 50 which agreed a draft Charter for an International Trade
Organization (ITO) — a new specialized agency of the United Nations. The
Charter was intended to provide not only world trade disciplines but also
contained rules relating to employment, commodity agreements, restrictive
business practices, international investment and services.
Q2. Write short notes on the following:
A. International franchising
B. International contract manufacturing
Answer. a. International franchising: Franchising is
the practice of the right to use a firm's business model and brand for a
prescribed period of time. The word "franchise" is of Anglo-French
derivation—from franc, meaning free—and is used both as a noun and as a
(transitive) verb. For the franchisor, the franchise is an alternative to
building "chain stores" to distribute goods that avoids the
investments and liability of a chain. The franchisor's success depends on the
success of the franchisees. The franchisee is said to have a greater incentive
than a direct employee because he or she has a direct stake in the business.
Q3. What are the stages in which
international markets are screened and analyzed?
Answer. The five steps are Country
Identification, Preliminary Screening, In-Depth Screening, Final Selection and
Direct Experience. Let’s take a look at each step in turn.
In-Depth Screening
The
countries that make it to stage three would all be considered feasible for
market entry. So it is vital that detailed information on the target market is
obtained so that marketing decision-making can be accurate. No one can deal
with not only micro-economic factors but also local conditions such as
marketing research in relation to the marketing mix i.e. what prices can be
charged in the nation? – How
Q4. What is counter-trade? Describe
the various types of counter-trade.
Answer. Countertrade means exchanging goods or services
which are paid for, in whole or part, with other goods or services, rather than
with money. A monetary valuation can however be used in counter trade for
accounting purposes. In dealings between sovereign states, the term bilateral
trade is used.
Countertrade
also occurs when countries lack sufficient hard currency, or when other types of
market trade are impossible.
In 2000,
India and Iraq agreed on an "oil for wheat and rice" barter deal,
subject to United Nations approval under Article 50 of the UN Persian Gulf War
sanctions, that would facilitate 300,000 barrels of oil delivered daily to
India at a price of $6.85 a barrel while Iraq oil sales into Asia were valued
at about $22 a barrel. In 2001, India agreed to swap 1.5 million tonnes of
Iraqi crude under the oil-for-food program.
The Security
Council noted: " although locally produced food items have become
increasingly available throughout the country, most Iraqis do not have the
necessary purchasing power to buy them.
Q5. Discuss the role of sales
promotion and personal selling in international marketing.
Answer. Sales promotions
Sales
promotions have the specific purpose of driving short-term sales of products or
services. Because they are highly effective in triggering short-term sales,
they play a vital role in most marketing managers' arsenal of tools to drive
demand. As companies expand into international markets, marketers usual rely on
the same tools that serve them well in the domestic market. However, some sales
promotions may not work in foreign markets because of host country differences.
a. Host Markets Rule
Sales
promotion tools effective in the United States may create unwanted surprises
when used in other countries, because of cultural, regulatory and legal
differences. For example, couponing in Malaysia will likely backfire, because
Malaysians find coupons embarrassing. You'll likely meet cultural resistance by
Q6. Write short notes on the
following:
a. Bill of Exchange
b. Packing list
c. Air way bill
d. Certificate of origin
e. Consular invoice
Answer. a. Bill of Exchange:
A written,
unconditional order by one party (the drawer) to another (the drawee) to pay a
certain sum, either immediately (a sight bill) or on a fixed date (a term
bill), for payment of goods and/or services received. The drawee accepts the
bill by signing it, thus converting it into a post-dated check and a binding
contract.
A bill of
exchange is also called a draft but, while all drafts are negotiable
instruments, only "to order" bills of exchange can be negotiated.
According to the 1930 Convention Providing A Uniform Law For Bills of
Summer-2016
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