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ASSIGNMENT
| DRIVE | SUMMER 2015 |
| PROGRAM | BBA |
| SUBJECT CODE & NAME | BBA 403 – International marketing |
| SEMESTER | 4 |
| BK ID | B1714 |
| 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.1 Explain the meaning, need and significance of international marketing.
Ans : Meaning of international marketing :
International Marketing can be defined as exchange of goods and services between different national markets involving buyers and sellers.
According to the American Marketing Association, “International Marketing is the multi-national process of planning and executing the conception, prices, promotion and distribution of ideal goods and services to create exchanges that satisfy the individual and organizational objectives.”
It is concerned with the micro aspects of a market and takes the company as a unit of analysis. The purpose is to find out as to why and how a product succeeds or fails in a foreign country and how marketing efforts influence the results of international marketing.
Need:
Global marketing is the process of conveying a final product worldwide with the hopes of reaching the international marketing community. Some of the important facts about global marketing are futures markets offer highly liquid and standardized contracts to large and small market participants alike, markets require robust participation and rely on a mix of commercial participants and liquidity providers, and it is the presence of many market
Q3. Assessing political environment plays an important role in taking business decisions. Discuss this statement. What risks could arise due to political environment?
Answer: Environmental analysis is a strategic tool. It is a process to identify all the external and internal elements, which can affect the organization’s performance. The analysis entails assessing the level of threat or opportunity the factors might present. These evaluations are later translated into the decision-making process. The analysis helps align strategies with the firm’s environment.
The political factors take the country’s current political situation. It also reads the global political condition’s effect on the country and business. When conducting this step, ask questions like “What kind of government leadership is impacting decisions of the firm?”
Some political factors that you can study are:
Q.4 Explain the meaning and need of secondary research in international marketing.
Answer: Meaning of secondary research in international marketing:
Market research is an essential part of any business plan, whether a fledgling business or a multinational organisation. Knowing that there is a sustainable market for your product and understanding what your audience expects from you is vital to a successful business launch. Market research can generally be split into two categories; primary and secondary market research.
Secondary research makes use of existing data from whatever sources are available. There are government censuses, Mintel surveys, and many private market research agencies that allow access to their data; some of it for free. It can be
Q.5 What is the mode of entry adopted by McDonalds? Discuss the various modes of entry in international business.
Ans : Mode of entry by McDonalds:
The attractiveness of a country as a potential market for an international business depends on balancing the benefits, costs, and risks associated with doing business in that country. The long-run economic benefits of doing business in a country are a function of factors such as the sixe of the market, the present wealth of consumers in that market, and the likely future wealth of consumers, which depends upon economic growth rates. While some markets are very large when measured by number of consumers, it is also important to look at the living standards and economic growth.
Franchisation mode :
The entry mode chosen by McDonald’s to have presence in
Q.6 Write short notes on:
- a) Product diversification
Answer: A product diversification strategy is a form of business development. Small businesses that implement the strategy can diversify their product range by modifying existing products or adding new products to the range. The strategy provides opportunities to grow the business by increasing sales to existing customers or entering new markets.
Objectives
- b) Product customization
Answer: Sellers of everything from dress shirts to handbags and even consumer packaged goods are discovering the value of letting customers create their own unique products. Retailers use Big Data to present a personalized set of products to their customers—it’s been a driving force behind Amazon’s success. Now brands are taking personalization a big step forward into mass customization. They are
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