MK0018– 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	MK0018– 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.

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,

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 at

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 according to a number of general criteria, such as by industry or public versus private sector. Small segments are often termed niche markets or specialty markets. However, all segments fall into either consumer or industrial markets. Although it has similar objectives and it overlaps with consumer

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 audience. It consists of all activities and processes with the purpose of finding, attracting, winning and retaining customers. What has changed is its wider scope and options compared to conventional marketing methods.

E-marketing is deemed to be broad in scope, because it not only refers to marketing and promotions over the Internet, but also includes marketing done via e-mail and wireless media. E-marketing also embraces the management of digital customer data and electronic customer relationship management (ECRM) and several other business management functions.

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

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