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Master of Business Administration - MBA Semester 4
MK0018-International Marketing
(Book ID: B1699)
Assignment (60 Marks)
Note: Answer all questions must be written within 300 to 400 words each.
Each Question carries 10 marks 6 X 10=60.
Q1. Differentiate between GATT and WTO.
Answer. General Agreement on Tariff and Trade (GATT):
The GATT, was established on a provisional basis after the Second World War in the
wake of other new multilateral institutions dedicated to international economic
cooperation notably the Britton Woods institutions now known as the World Bank
and the International Monetary Fund.
The original 23 GATT countries were among over 50 which agreed a draft Charter for
an International Trade Organization (ITO) a new specialized agency of the United
Nations. The Charter was intended to provide not only world trade disciplines but also
contained rules relating to employment, commodity agreements, restrictive business
practices, international investment and services.

Q2. Write short notes on the following:

A. International franchising
B. International contract manufacturing
Answer. a. International franchising: Franchising is the practice of the right to use
a firm's business model and brand for a prescribed period of time. The word
"franchise" is of Anglo-French derivationfrom franc, meaning freeand is used both
as a noun and as a (transitive) verb. For the franchisor, the franchise is an alternative
to building "chain stores" to distribute goods that avoids the investments and liability
of a chain. The franchisor's success depends on the success of the franchisees. The

franchisee is said to have a greater incentive than a direct employee because he or

she has a direct stake in the business.
Thirty three countriesincluding the United States and Australiahave laws that
explicitly regulate franchising, with the majority of all other countries having laws
which have a direct or indirect impact on franchising. Franchising is also used as a
foreign market entry mode.

Q3. What are the stages in which international markets are screened and
Answer. The five steps are Country Identification, Preliminary Screening, In-Depth
Screening, Final Selection and Direct Experience. Lets take a look at each step in
In-Depth Screening
The countries that make it to stage three would all be considered feasible for market
entry. So it is vital that detailed information on the target market is obtained so that
marketing decision-making can be accurate. No one can deal with not only microeconomic factors but also local conditions such as marketing research in relation to
the marketing mix i.e. what prices can be charged in the nation? How

Q4. What is counter-trade? Describe the various types of counter-trade.

Answer. Countertrade means exchanging goods or services which are paid for, in
whole or part, with other goods or services, rather than with money. A monetary
valuation can however be used in counter trade for accounting purposes. In dealings
between sovereign states, the term bilateral trade is used.
Countertrade also occurs when countries lack sufficient hard currency, or when other
types of market trade are impossible.

Q5. Discuss the role of sales promotion and personal selling in international
Answer. Sales promotions
Sales promotions have the specific purpose of driving short-term sales of products or
services. Because they are highly effective in triggering short-term sales, they play a
vital role in most marketing managers' arsenal of tools to drive demand. As
companies expand into international markets, marketers usual rely on the same tools

that serve them well in the domestic market. However, some sales promotions may

Q6. 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. Bill of Exchange:
A written, unconditional order by one party (the drawer) to another (the drawee) to
pay a certain sum, either immediately (a sight bill) or on a fixed date (a term bill), for
payment of goods and/or services received. The drawee accepts the bill by signing it,
thus converting it into a post-dated check and a binding contract.
A bill of exchange is also called a draft but, while all drafts are negotiable instruments,
only "to order" bills of exchange can be negotiated. According to the 1930 Convention
Providing A Uniform Law For Bills of Exchange and Promissory Notes held in Geneva
(also called Geneva Convention) a bill of exchange

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