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DRIVE
winter 2016
PROGRAM
MBADS (SEM 4/SEM 6)
MBAFLEX/
MBA (SEM
4)
SUBJECT
CODE & PGDMMN (SEM 2)
NAME
MK0018–
International Marketing
1 Differentiate
between GATT and WTO
GATT
WTO
Answer: GATT is a multilateral treaty among the member countries that lays down certain
agreed rules for conducting international trade. The member countries
contribute together to four-fifth of the total world trade. It is interesting
to note that underdeveloped countries form a sizable majority in GATT. The
basic aim of GATT is to liberalise world trade negotiations among members
countries and, for the last forty seven years, it has been concerned with
negotiations on the reduction, even the elimination of trade barriers – tariff
and non-tariff – between countries and improving trade
2 Write
short notes on the following:
A. International
franchising
B. International
contract manufacturing
Answer: a) Franchising is basically a specialized form of licensing in which the franchiser
not only sells intangible property to the franchisee, but also insists that the
franchisee agree to abide by strict rules as how it does business. The
franchiser will also often assist the franchisee to run the business on an ongoing
3 What
are the stages in which international markets are screened and analysed?
4 Stages
Answer: Step One – Country Identification
The World is
your oyster. You can choose any country to go into. So you conduct country
identification – which means that you undertake a general overview of potential
new markets. There might be a simple match – for example two countries might
share a similar heritage e.g. the United Kingdom and Australia, a similar
language e.g. the United States and Australia, or even a simi
4 What
is counter-trade? Describe the various types of counter-trade.
Explanation of
the concepts
Types
Answer: Counter trade constitutes an estimated 5-30 percent of total world
trade. Counter-trade greatly proliferated in the 80s. Counter-trade is one of
the oldest forms of trade in the government mandate to pay for goods and services
with something other than cash. It is a practice that requires a seller as a
condition of sale to commit contractually to reciprocate and undertake
5 Discuss
the role of sales promotion and personal selling in international marketing.
Sales promotion
Personal Selling
Answer: Sales promotion is one of the most important aspects of marketing.
Selling is as important as producing. Every manufacturer has to sell his
product in the market – domestic or international. Selling products in the
international market is more difficult than selling them in the domestic
market. The producer and the exporter cannot sell a bundle of physical
attributes known as product but it is the business of selling satisfaction to
their customers. This is particularly important in consumer goods. Thus, modern
marketing requires not only designing the right product, right price and
distribute effectively but also involves the task of designing and
6 Write
short notes on the following:
a.
Bill of Exchange
b.
Packing list
c.
Air way bill
d.
Certificate of origin
e.
Consular invoice
Answer: a) When a draft bill is drawn on a foreign firm, it is termed as a foreign
draft or bill of exchange. It is prepared either in an international currency
or Indian rupee depending on the terms of contract. Accordingly, the bill is
known by the name of currency in which it is drawn. For
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