MK0018 – International Marketing

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MK0018 – International Marketing -4 Credits(Book ID: B1199)

Assignment (60 marks)

Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.

Q.NO-1-5 -10MARKS(350-400 Words)

Q1.Discuss the EPRG orientations and give the differences between international and domestic marketing.   10 marks(350-400 words)

Answer : EPRG Framework

A firm needs to an appropriate orientation for the world market. While looking for orientation, it is important to understand the EPRG framework.

Ethnocentric (E) orientation refers to home country organization. Here the firm's reference point is the home market. Generally, when the firm is ethnocentric, it looks for foreign markets to sell its currents products and surpluses. There is hardly any or minimal product adaptation for the foreign markets. Maybe some minor changes are made to suit hot or importing country's legal requirements, like in packaging; the firm may

Q2.Discuss the importance of international business environment for an organization.10 marks(350-400 words)

Answer : The international business and trade environment is the backbone of global economy. Trade agreements to buying and selling goods and services internationally gives manufacturers in various countries the opportunity to expand beyond the domestic market. Trading across national borders increases sales, creates jobs, balances seasonal fluctuations and provides a variety of products and services. As the

Q3.Write a short note on International Advertising. How is it important for international marketing? 10 marks(350-400 words)

Answer : Definition of International Advertising

 

  International advertising entails dissemination of a commercial message to target audiences in more than one country. Target audiences differ from country to country in terms of how they perceive or interpret symbols or stimuli, respond to humour or emotional appeals, as well as in levels of literacy and languages spoken. How the advertising function is organized also varies. In some cases, multinational firms

operations

Q4.Explain how Letter of Credit acts as an appropriate mode of payment for both exporter andimporter.10 marks(350-400 words)

Answer : Letter of credit, in a broad perspective, is one of the payment methods in international trade. Some of the other payment methods in international trade are Cash-in-Advance, Documentary Collections and Open Account. All of these payment methods inherit different risk levels for exporters and importers. Letters of credit is the only payment method, which has a balanced risk structure for both parties. 

Q5.What are the factors that affect the pricing strategy of an international firm? What different pricing strategies can the firms adopt?10 marks(350-400 words)

Answer : In an era of globalization, one of the challenges that companies face when selling their products abroad is how to set appropriate prices. Most of the same factors used in setting prices in a single country are taken into account when formulating an international pricing strategy, but many factors often are overlooked in national pricing and must be given special attention when moving into global markets.

National Market Size

One of the main factors to determine

Q6.Write short notes on

(a) Licensing

Answer : A license may be granted by a party ("licensor") to another party ("licensee") as an element of an agreement between those parties. A shorthand definition of a license is "an authorization (by the licensor) to use the licensed material (by the licensee)."

In particular, a license may be issued by authorities, to allow an activity that would otherwise be forbidden. It may require paying a fee and/or proving a capability. The requirement may also serve to keep the authorities

(b) Joint venture   5 + 5 = 10 Marks(200 - 250 words each)s

Answer : A joint venture (JV) is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets. There are other types of companies such as JV limited by guarantee, joint ventures limited by guarantee with partners holding shares.

A joint venture takes place when two parties come together to take on one project. In a joint venture, both parties are equally

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