IB0011– International Marketing

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ASSIGNMENT

DRIVE	FALL 2014
PROGRAM	MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) / PGDIB – (SEM 1)
SUBJECT CODE & NAME	IB0011– International Marketing
BK ID	B1199
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q.NO.1 Discuss the different management orientations of a company. How does it affect international marketing?

Answer : Marketing Concept

One of the five marketing management orientations is the marketing concept. The marketing concept is based on the belief that a company must create, deliver and market products more efficiently than the competition in order to turn a profit. To implement this concept, managers focus on researching the target market and customer's needs along with marketing the product in an integrated manner.

Production Concept

The production concept, the oldest marketing concept, is based on a belief that consumers prefer low prices and product availability. To implement the production concept, managers concentrate on low costs, mass distribution and high production efficiency. The production concept is mostly useful in developing countries where

Q.2. Discuss how culture plays an important role in international marketing. Give some examples of advertisements which failed due to lack of cultural understanding.

Answer : How Culture Plays an Important Role in Global Marketing

When it comes to branding yourself to a domestic market, your ability to connect with your target audience is greatly enhanced by sharing a common language and culture with them. Conversely, branding to markets beyond your borders is another story and presents a unique set of linguistic and cultural challenges that must be addressed and overcome.

Lost in Translation                                                 

Perhaps the biggest obstacle to cross-cultural personal branding success is a lack of understanding of how people communicate in other cultures. In fact, one of the most common assumptions is that a straight translation of marketing, advertising and public relations materials are enough to conform to the unique needs and values of diverse

Q3.  Explain different types of cost based pricing.

Answer: Cost-based pricing involves calculating the cost of the product, and then adding a percentage mark-up to determine price.

Cost-plus pricing is the simplest pricing method. A firm calculates the cost of producing the product and adds on a percentage (profit) to that price to give the selling price. This appears in two forms: the first, full cost pricing, takes into consideration both variable and fixed costs and adds a % markup. The other is direct cost pricing, which is variable costs plus a % markup. The latter is only used in periods of high competition as this method usually leads to a loss in the long run.This method, although simple, does not take demand into account, and there is no way of determining if potential customers will purchase the product

Q4. Tobacco companies are targeting China as Chinese are heavy smokers. Which segmentation is this and what are the other international market segmentations?

Answer: INTERNATIONAL MARKET SEGMENTATION

Market segmentation is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs. Because each segment is fairly homogeneous in their needs and attitudes, they are likely to respond similarly to a given marketing strategy. That is, they are likely to have similar feelings and ideas about a marketing mix comprised of a given product or service, sold at a given price, distributed in a certain way, and promoted in a certain way. Broadly, markets can be divided

5 Write short notes on:

                                                        

a) e Marketing

Answer : E-marketing refers to the use of the Internet and digital media capabilities to help sell your products or services. These digital technologies are a valuable addition to traditional marketing approaches regardless of the size and type of your business. E-marketing is also referred to as Internet marketing (i-marketing), online marketing or web-marketing.

As with conventional marketing, e-marketing is creating a strategy that helps businesses deliver the right messages and product/services to the right

b) Spot and forward rates

Answer : Spot Rates

In finance, a spot contract, spot transaction, or simply "spot," is a contract of buying or selling a commodity, security, or currency for settlement (payment and delivery) on the spot date, which is normally two business days after the trade date. The settlement price (or rate) is called a "spot price" or "spot rate. "

Q6. Discuss the role and activities of World Bank.

Answer: As a development institution, the World Bank supports two broad goals in South East Europe: (i) poverty reduction and (ii) economic and social development, the latter in support of the countries ambition to join the Europen Union. The central vehicle for supporting the national reform program of each country is the so-called Country Assistance Strategy (CAS). Based on an assessment of the country's priorities, past portfolio performance and creditworthiness, the CAS sets strategic priorities and determines the level and composition of financial and technical assistance that the Bank seeks to provide the country. The fra

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