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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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