Wednesday, March 13, 2013

MS-64 International Marketing



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ASSIGNMENT
Course Code : MS-64
Course Title : International Marketing

1. What do you mean by product standardization and adaptation in context of international marketing? Give examples of products that may require adaptation across different countries.

Answer : In order to meet the needs of international customers, you may need to adapt your product to suit individual or regional markets. You will also need to establish a brand that can be applied globally or tailored to fit into local markets.



2. As a newly appointed export manager, you have received an export order for export of Handicraft items to USA. Write down the steps you would take for executing the export order.
Answer : Export Readiness for the U.S. Market

This Trade Tool Kit Summary includes information which may be useful to companies in assessing export readiness and preparing their business to enter the export market.

Businesses should draw on their own resources to obtain information for production of their own tool kit, manual, or




3. Explain the concept of Marginal Pricing. What are its implications in international marketing?
Answer : In economics and finance, marginal cost is the change in the total cost that arises when the quantity produced changes by one unit. That is, it is the cost of producing one more unit of a good.[1] In general terms, marginal cost at each level of production includes any additional costs required to produce the next unit. For example, if producing additional vehicles requires building a new factory, the marginal cost of the



4. How does culture influence international marketing decisions? Explain with the help of suitable examples.

Answer : Companies that are growing are always on the lookout for new opportunities. Some of these opportunities present themselves in new countries. Product diversification and growth may demand a product to be introduced on a global level. To develop a successful marketing strategy, an organization must take into consideration



5. What is the relevance of conducting international marketing research? Explain the role of desk research in context of international marketing.

Answer : International Marketing Research plan

International Marketing Research follows the same path as domestic research, but there are a few more problems that may arise. Customers in international markets may have very different customs, cultures, and expectations from the same company. In this case, Marketing Research relies more on primary data rather than secondary information. Gathering the primary data can be hindered by language, literacy and access to



6. A small footwear manufacturer presently operating in domestic market only, wants to go international. What methods would you suggest to the organization to reach foreign markets and why?
Answer : Strategies for Reaching Global Markets

Many companies want to expand to the global market to increase overall market share and increase profits. In fact, some of the most successful businesses in the world have international market shares. While the product or service offering often changes to adapt to the foreign country needs or culture, the overall brand and product name remain the same.





7. Your company is planning to expand its operations in international markets. What pre -investment measures would you undertake to manage the political risk?

Answer : Companies decide to initiate international operations for a myriad of reasons including lower costs, new opportunities, and access to resources. Unfortunately, they come at the cost of increased risk to the business. A study done by PricewaterhouseCoopers’ Advisory and Eurasia Group found that 83% of respondents



8. Your company is a leading designer of bridal dresses, currently operating in local markets only. After getting huge success in the local markets, it wants to enter into Asian and US markets. Which approach of EPRG frame work would you follow and why?

Answer : The foreign marketing involvement of a manufacturing company may widely vary from a state of no direct involvement to a state of total involvement. Several types of involvement are generally observed, even though they are not mutually exclusive nor sequentially progressive.
Depending on the kind and degree of its

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