MK0018– International Marketing

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	MBADS (SEM 4/SEM 6) MBAFLEX/ MBA (SEM 4)
SUBJECT CODE & NAME	MK0018– International Marketing
BK ID	B 1811
Credit & Marks	4 CREDIT, 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 GATT and WTO

Answer:The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade. It was created in 1948 and lasted until 1993. World Trade Organization (WTO) was formed as a replacement for GATT in 1995 with the purpose of supervising and liberalizing international trade. WTO has a more permanent structure compared to GATT. WTO also monitors trade in services and trade-related aspects of intellectual property rights, in addition to trade in goods.

There are various bodies or agreements that have

Question.2. Write short notes on the following:

A. International 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 distribute goods that avoids the investments and liability of a chain. The franchisor's success depends on the

B. International contract manufacturing

Answer:Contract manufacturing is the outsourcing of part of the manufacturing process of a product to a third-party. More specifically, contract manufacturing is an outsourcing of certain production activities that were previously performed by the manufacturer to a third-party. A company may outsource the manufacture of certain components for the product or outsource the assembly of the product. Nowadays, outsourcing companies have

Question.3. What are the stages in which international markets are screened and analysed?

Answer:The International Marketing Entry Evaluation Process is a five stage process, and its purpose is to gauge which international market or markets offer the best opportunities for our products or services to succeed. The five steps are Country Identification, Preliminary Screening, In-Depth Screening, Final Selection and Direct Experience.

Question.4. What is counter-trade? Describe the various types of counter-trade.

Answer:Countertrade means exchanging goods or services which are paid for, in whole or part, with other goods or services, rather than with money. A monetary valuation can however be used in counter trade for accounting purposes. In dealings between sovereign states, the term bilateral trade is used. OR "Any transaction involving exchange of goods or service for something of equal value."

Question.5. Discuss the role of sales promotion and personal selling in international marketing.

Answer:Personal selling is the process of communicating with a potential buyer (or buyers) face-to-face with the purpose of selling a product or service. The main thing that sets personal selling apart from other methods of selling is that the salesperson conducts business with the customer in person. Though personal selling is more likely to be effective with certain types of products or services, it has important applications for nearly all kinds of small businesses. In fact, most of history's successful entrepreneurs have been

Question.6. Write short notes on the following:

a. Bill of Exchange

Answer:Bills of exchange are similar to checks and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements. The difference between a promissory note and a bill of exchange is that this product is transferable and can bind one party to pay a third party that was not involved in its creation. If these bills are issued by a bank, they can be referred to as bank drafts. If they are issued by

b. Packing list

Answer:The Universal Packing List is a tool that provides a custom travel check list.

Packing mishaps range from merely inconvenient (heading to the Caribbean without your favorite swimsuit) to downright disastrous (finding you’ve left the country without your wallet or medication) but most are

c. Air way bill

Answer:An air waybill (AWB) or air consignment note is a receipt issued by an international airline for goods and an evidence of the contract of carriage, but it is not a document of title to the goods. Hence, the air waybill is non-negotiable.

The air waybill is the most important document issued by a carrier either directly or through its authorised agent. It is a non-

d. Certificate of origin

Answer:A certificate of origin (often abbreviated to C/O, COO or CoO) is a document used in international trade. In a printed form or as an electronic document, it is completed by the exporter and certified by an recognized issuing body, attesting that the goods in a particular export shipment have been produced, manufactured or processed in a particular country.

The origin of the product does not refer to the

e. Consular invoice

Answer: A consular invoice also has a copy of the commercial invoice in the language of the country, giving full details of the merchandise shipped. In general, the purpose is to provide the foreign customs authority with a complete, detailed description of the goods so that the correct import duty can be levied. 

In international law, consularization is the act of authenticating any legal document by the consul office, by the consul signing and

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