BBA 403 - International marketing

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	Bachelor of Business Administration- BBA
SEMESTER	Semester 4
SUBJECT CODE & NAME	BBA 403 - International marketing
BK ID	B1714
CREDIT & MARKS	4 CREDITS, 60 MARKS

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.

Question.1. Differentiate between Domestic Marketing and International Marketing. Elaborateon the benefits of International Marketing and write a short note on Barriers toInternational trade and marketing

Answer:Marketing is the efficient and effective management and utilization of a company’s resources to meet the consumers’ demands and the company’s objectives. It involves selling the company’s products to satisfy the needs of consumers.

It includes planning, conception and execution of ideas, pricing, promotion, and distribution of a company’s products with the purpose of obtaining the company’s objectives and satisfying the consumers.

Marketing can be done within a local or domestic market or

Question.2. Write short note on:

1. Perfect competition

Answer:Perfect competition is a market structure in which the following five criteria are met: 1) All firms sell an identical product; 2) All firms are price takers - they cannot control the market price of their product; 3) All firms have a relatively small

2. Oligopoly

Answer:An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher prices for consumers. Oligopoly has its own market structure.With few sellers, each oligopolist is likely to be aware of the actions of the others. According to game theory, the decisions of one firm therefore influence and are influenced by decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market participants.

3. Inflation

Answer:In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.When the price level rises, each unit of currency buys fewer goods and services. Consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. A chief measure of

4. Mixed Economy

Answer:A mixed economic system is an economic system that features characteristics of both capitalism and socialism. A mixed economic system allows a level of private economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims. This type of economic

5. Fiscal Policy

Answer:Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy. It is the sister strategy to monetary policy through which a central bank influences a nation's money supply. These two policies are used in various combinations to direct a country's economic goals. Here we look at how fiscal policy works, how it must be monitored and how its implementation

Question.3. Explain the basic legal systems prevailing around the world and the legal issuesin International Business

Answer:The legal/political aspect is very important in global marketing. "International law" can be defined as rules and principles that states and nations consider binding upon themselves. This raises two interesting characteristics of international law. The first is that "law" belongs to individual nations and international law only exists to the degree that individual nations are willing to relinquish their rights. The second is the lack of an

Question.4. Discuss Foreign Direct Investment. Write short notes on :

1. Licensing

Answer:Licensing and technology transfer.  Licensing and tech transfer have been essential in promoting collaboration between the academic and business communities. Ever since legal hurdles were removed that allowed universities to hold

2. Joint Venture

Answer:Joint venture and other hybrid strategic alliances.  The more traditional joint venture is bi-lateral, that is it involves two parties who are within the same industry who are partnering for some strategic advantage.  Typical reasons might include a need for access to proprietary technology that might tip the competitive edge in another competitor’s favor, desire to gain access to intellectual capital in the form of ultra-expensive

3. Franchising

Answer: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

4. Contract Manufacture

Answer:In the case of traditional manufacturing, this has been the primary mechanism for investment and it has been heretofore very efficient.  Within the past decade, however, there has been a dramatic increase in the number of technology startups and this, together with the rise in prominence of Internet usage, has fostered

Question.5. Define Product Life Cycle (PLC), Advantages and Disadvantages of ProductCustomization and discuss on Global Product Planning

Answer:Product life-cycle management (PLM) is the succession of strategies used by business management as a product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages.

Question.6. Explain on the various aspects related to dumping. Define transfer pricing and itsobjectives. What are Letters of Credit (LCs) in marketing arena?

Answer:In economics, "dumping" is a kind of predatory pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price either below the price charged in its home market or below its cost of production. The purpose of this act is sometimes to increase market share in a foreign market or to drive out competition.

A standard technical definition of dumping is the act of

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