IMT-17

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IMT-17

Subject Code: IMT-17

Subject Name : International Marketing

Objective:

1. To give an overview of the scenario on international marketing which offer unlimited opportunities to theOrganization.

2. To equip students with the understanding of environments with capability to develop products and othermarking mix elements to develop effective market plan.

3. To imbibe an outlook to win world

Notes:

a. Write answers in your own words as far as possible and refrain from copying from the text books/handouts.

b. Answers of Ist Set (Part-A), IInd Set (Part-B), IIIrd Set (Part – C) and Set-IV (Case Study) must be senttogether.

c. Mail the answer sheets alongwith the copy of assignments for evaluation & return.

d. Only hand written assignments shall be accepted.

A. First Set of Assignments: 5 Questions, each question carries 1 marks.

B. Second Set of Assignments: 5 Questions, each question carries 1 marks.

C. Third Set of Assignments: 5 Questions, each question carries 1 marks. Confine your answers to 150 to 200 Words.

D. Forth Set of Assignments: Two Case Studies : 5 Marks. Each case study carries 2.5 marks.

Part – A

Q. 1. In International Marketing it is imperative to create a relationship that holds value for the

customers and for organization Discuss .

Answer:The Impact of Customer Relationship Marketing in the Luxury Retail Market of Kuwait    2011   1 “A customer is the most important visitor on our premises. He is not depending on us. We are depending on him. He is not an interruption of our work but the purpose of it.He is not an outsider but a part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us the opportunity to do so.

Q. 2. Write short note on IMF.

Answer:The IMF was the outcome of Bretton woods conference of 1944. The main purpose of IMF were to provide exchange stability, temporary assistance to countries falling short of foreign exchange and take international measure for curing the adverse balance of payment. IMF is a pool of central bank reserves and national currencies which are available to its members under certain conditions.

Q. 3. How does international environment play a role in International Trade? What are the

International Environment Segments?

Answer:The potential for conflict between environmental concerns and international trade is increasing. The past two decades have seen a proliferation of national environmental laws and international environmental agreements along with a rapid expansion of international trade and investment. For the most part, the two

Q. 4. Define factors determining the effectiveness of a political system.

Answer: Political systems are the formal and informal political processes by which decisions are made concerning the use, production and distribution of resources in any given society. Formal political institutions can determine the process for electing leaders; the roles and responsibilities of the executive and legislature; the organisation of political representation (through political parties); and the accountability and oversight of the state. Informal and customary political systems, norms and rules can operate within or alongside these formal political institutions. The development of democratic political systems that provide opportunities for all, including the poor, to influence decision-making, is a critical concern for donors.

Political will and power have a significant effect on the rule of law in any society. Governments in Asia tend to be authoritarian, with close links to the military and police. Those in power are much more interested in consolidating and retaining their power than in promoting democracy. For this reason, effective rule of law is not a priority for them; in fact, they are more interested in attempts to subvert the law to ensure their own interests. They are interested in promulgating laws and practices that will help them do this, even if these are contrary to rule of law principles: societies throughout Asia live under various forms of internal security laws, as well as strict legislation regarding contempt of court and criminal defamation.

Governments can also make use of state institutions to further their aims, a common characteristic in many Asian countries. In India for instance, politicization and communalism affect all state institutions, particularly the police. This means that rather than following the rule of law, the institutions follow the rule of the politicians. This can be seen in the periodic communal riots and massacres in which the police play a complicit role. The greatest affected groups are inevitably the marginalized and minority groups, as AHRC pointed out in its human rights day statement of 2004.

The governments, in fact, even attempt to cover up such military abuse, further demonstrating its lack of commitment to the law. In Nepal for instance,

Q. 5. Please help a new entrepreneur in analyzing markets for entry in a new.

Answer: Expanding into a new market can be an effective way to leverage your core business for growth. But it takes a disciplined process to accurately assess the potential of each growth opportunity, because a bad bet can bog down your

Part – B

Q.1. Define Quota. What are the various types of Quota?

Answer:A government-imposed trade restriction that limits the number, or in certain cases the value, of goods and services that can be imported or exported during a particular time period. Quotas are used in international trade to help regulate the volume of trade between countries. They are sometimes imposed on specific goods and services to reduce imports, thereby increasing domestic production. In theory, this helps protect domestic production by restricting foreign competition.

Q. 2. What do you understand by International Marketing Research? And types of InternationalMarketing Research?

Answer:As businesses expand further and further in international markets, the role of timely and accurate marketing research to guide decision-making becomes increasingly critical. Research to support international marketing decisions has evolved over the past four decades and must change even more to support firms in the 21st century.

Q. 3. The main objective of all business is survival .How does a product strategy help in

International business what are product design strategies?

Answer:Products are the goods or services that a company sells; a product design strategy helps a company take an idea for a product from design to sale. Having a product design strategy allows the company to decide how a product should be marketed based upon the features of the specific product.

Q. 4. What role does pricing play in International Business? Explain factors affecting internationalpricing.

Answer:Trends are what allow traders and investors to capture profits. Whether on a short- or long-term time frame, in an overall trending market or a ranging environment, the flow from one price to another is what creates profits and losses. There are four major factors that cause both long-term trends and short-term fluctuations. These factors are governments, international transactions, speculation and expectation, and supply and demand.

Q. 5. Channel selections depend on distribution structure and choice of specific channel members.

Elaborate with suitable examples.

Answer: Distribution has two elements, the institutional and the physical. Whilst the modes of market entry were fully discussed in chapter seven, the actual institutions (for example retailers, agents and so on.) were not.

Part – C

Q. 1. Adopting the right kind of promotional strategies is the most crucial issue of entering marketsin many countries. Discuss.

Answer:Trade is increasingly global in scope today. There are several reasons for this. One significant reason is technological—because of improved transportation and communication opportunities today, trade is now more practical.

Q. 2. Outline major issues in the New Export Import Policy in force.

Answer: Since the advent of freedom, the import of goods into India and export of goods from India had all along been under the control of the Government. The Import Export (Trade) Control Act 1947 had set the law and procedure for such control. Over a period of time the licensing of goods for import had been undergoing progressive changes. The initial licence - control system was gradually relaxed bringing a number of items of capital goods, raw material components etc. required by local industries under O.G.L. and prohibiting

Q. 3. Define a letter of credit .What are the contents of letter of credit.

Answer: A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.

Contents of Letter of Credit

Q. 4. Explain in detail the procedure of conducting a export transaction.

Answer:Once a prospective customer has indicated an intention to place an order, it is important for management to determine their legitimacy and financial soundness. Some companies will undertake this analysis early in the sales cycle, particularly if the sales process is extensive. The financial condition of the buyer should also figure heavily when determining the appropriate payment terms. 

Q. 5. Explain the major commercial documents used in export transaction

Answer:Exporters should seriously consider having the freight forwarder handle the formidable amount of documentation that exporting requires; freight forwarders are specialists in this process. The following documents are commonly used in exporting; which of them are actually used in each case depends on the requirements of both our

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CASE STUDY – 1

Questions

Q. 1. Is an initiative like the VIT the right approach in helping vendors improve their processes and

their output? Should it be linked to the vendor's strategy? Or to the original equipment

manufacturer’s strategy?

Answer: It is conduced by our Vendor Improvement Team. Not very imaginatively, we call it the VIT. It is a sort of crash-course we devised to quickly bring our vendors up to global standards. A 7-member cross-functional team made up of our managers offers intensive programmes in manufacturing techniques to our vendors--completely free of cost. It is a parallel process to our regular vendor management programme. And it is really an intermittent effort, not a continuous one.

Q. 2. Should something like the VIT be pursued continuously, or as a one-off programme? Should

its coverage be extended to. include non-manufacturing activities? Should it now be improved,

or discarded? or should it be integrated into Indo-Nichita’s regular vendor-development

strategy ?

Answer:"All right, Arnab, here's your brief. You will be meeting Kshirsagar and Niyogi, who are the CEO and the Vice-President (Operations), respectively, of Indo-Nichita. Just to refresh your memory, which I know is in top gear first thing in the morning, that is the joint venture between Nichita and Indian Automotives. Now, Nichitas management in

CASE STUDY – 2

Questions

Q. 1. Why has the crash of dotcoms and the economic slowdown in the US hit India's software firms badly ?

Answer: FOR every conceivable subject or every kind of clientele, there are Internet portals that cater to specific needs. Be it shopping, advertising, transactions, research or banking, the Internet takes care of it all. Providing all these services and content are the dotcom companies.  Less than two months ago it appeared as though almost anyone with a good idea and a business plan could raise money to fund an Internet-based company. Internet entrepreneurs, in fact, succeeded so quickly in transforming their business ideas into

Q. 2. How can Wipro help in leveraging Daksh and EXL?

Answer:Today, Spectra mind has over 10,000 employees, seven facilities in four cities, 17 global customers Us an integral part of software major Wipro Technologies. Revenues in the quarter ended September 2003 stoodat Rs 92.7 crore, a growth of 22 per cent over the previous quarter. Profit margins were in the range of 20 per cent, despite cutthroat competition. All the goals that Roy and his team had set for Spectramind at the outset were exceeded well ahead of deadline. Surely, you can’t write a story better than that.

Q. 3. Can Wipro fulfil the BPO requirements for Spectramind, which can feature as a natural choice of avendor?

Answer: As IT and BPO converge to shape the future of outsourcing, businesses must make the best use of technology tools to run their multichannel service organisations. The surge in technology enablement has significantly improved business processes, when outsourced. It helps solve business problems and enables efficient outsourcing.  It also delivers real benefits to customers, including:

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

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Call us at : 08263069601

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