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Master of Business Administration- MBA Semester 3
IB0011/MK0018–International Marketing-4 Credits
(Book ID: B1199)
Assignment (60 marks)
Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.
Q1. Define multinational corporations. How is international marketing different from domestic marketing?
Answer. Economists are not in agreement as to how multinational or transnational corporations should be defined. Multinational corporations have many dimensions and can be viewed from several perspectives (ownership, management, strategy and structural, etc.) The following is an excerpt from Franklin Root (International Trade and Investment, 1994)
Ownership criterion: some argue that ownership is a key criterion. A firm becomes multinational only when the headquarter or parent company is effectively owned by nationals of two or more countries. For example, Shell and Unilever, controlled by British and Dutch interests, are good examples. However, by ownership test, very few multinationals are multinational. The ownership of most MNCs are unemotional. (see videotape
Q2. Differentiate between absolute advantage and comparative advantage theories.
Answer. An economic advantage is when one person or group can produce a given result with more economy than another. This is very general, and can be broken down into categories: labour advantage is when production can be carried out at lower labour cost (other things being equal); capital advantage, capital; rent/space advantage, rent. When aggregating costs in a group, we must be careful. The typical method for comparison is money accounting of wages, depreciation, and rent; this is appropriate when considering the subjective costs of the entrprepreneur/capitalist, since these are mainly aligned with money accounting costs.
The term absolute advantage emerges when considering multiple products. If A has an economic advantage against B at producing X, and A has an economic advantage against B at producing Y, then we say that A has an absolute advantage against B with respect to products X and Y. Notice that a claim such as “India has an absolute economic advantage against the US” is odd for two reasons. Firstly, such an advantage, unqualified,
Q3. Write a short note on International Advertising. How is it important for international marketing?
Answer. Get the most out of the Internet and put today’s technology to work for you. Advertising in general has changed dramatically in the recent past. What worked before just won’t cut it today. Your business must adapt to the new marketing trends. So if you’re willing to shift your gears a little, our expertise will take you beyond your greatest expectations.
Since 1984, International Advertising has provided its clients with access to the latest marketing trends such as today’s social media marketing and networking strategies. We offer advertising agency services of all aspects in various industries including advertising hospitality/travel, airspace, maritime, manufacturing/distribution, fashion and food. It is safe to say that we can guarantee excellent creativity and quality which allow us to deliver superior marketing tools within predetermined budgets and deadlines.
Q4. What are SEZs and what benefit they provide to the international trade and marketer?
Answer. Special Economic Zones (“SEZs”) are defined as geographical areas, governed by one oversight management body, that offer special trade incentives to firms who choose to physically locate within them. Many countries employ their own variations of these special enclaves, and in doing so use their own terminology to describe them. For example, Mexico refers to its zones as “maquiladoras,” Ghana, Cameroon, and Jordan have “industrial free zones,” the Philippines calls its economic zones “special export processing zones,” and Russia has “free economic zones.” Despite the differences in nomenclature, each SEZ operates to increase trade throughout its respective region by offering special trade incentives to stimulate local and foreign investment within the region.
Q5. What are the factors that affect the pricing strategy of an international firm? What different pricing strategies can the firms adopt?
Answer. Intelligent pricing is one of the most important elements of any successful business venture. Smart small business owners will weigh many marketplace factors before setting prices for their goods and services.
COST FACTORS AND PRICING
There are three primary cost factors that need to be considered by small businesses when determining the prices that they charge for their goods or services. After all, price alone means little if it is not figured within the context of operating costs.
LABOR COSTS
Labour costs consist of the cost of the work that goes into the manufacturing of a product or the execution of a service. Direct labour costs can be figured by multiplying the cost of labour per hour by the number of employee-hours required to complete the job. Business owners, however, need to keep in mind that the “cost of labour per hour” includes not only hourly wage or salary of the relevant employees, but also the costs of the
Q6. Write short notes on
(a) e marketing
Answer. Email marketing is directly marketing a commercial message to a group of people using email. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. It usually involves using email to send ads, request business, or solicit sales or donations, and is meant to build loyalty, trust, or brand awareness. Email marketing can be done to either cold lists or current customer database. Broadly, the term is usually used to refer to:
Sending email messages with the purpose of enhancing the relationship of a merchant with its current or
(b) Joint venture.
Answer. A joint venture (JV) is a business agreement in which parties agrees to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets. There are other types of companies such as JV limited by guarantee, joint ventures limited by guarantee with partners holding shares.
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