Fall-2016 Get solved assignments at nominal price of Rs.130 each. Mail us at: [email protected] or contact at 09882243490 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. Thirty three countries—including the United States and Australia—have laws that explicitly regulate franchising, with the majority of all other countries having laws which have a direct or indirect impact on franchising. Franchising is also used as a foreign market entry mode. 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. 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 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 Exchange and Promissory Notes held in Geneva (also called Geneva Convention) a bill of exchange Fall-2016 Get solved assignments at nominal price of Rs.130 each. Mail us at: [email protected] or contact at 09882243490
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