Description

SESSION	April2024
PROGRAM	BACHELOR of business administration (BBA)
SEMESTER	IV
course CODE & NAME	DBB2205 – INTERNATIONAL MARKETING

 

 

Assignment Set – 1

 

 

1. What is International Marketing? Differentiate it with Domestic Marketing.

Ans:

International Marketing

“International marketing is defined as the performance of business activities designed to plan, price, promote and direct the flow of a company’s goods and services to customers or users, in more than one nation, for a profit”. – Philip R Cateora.

Applying marketing principles to more than one country is referred to as international marketing. Yet, there can be a crossover between international marketing, which is a common

 

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2. Write a detailed note on Economic Environment to International Marketing. Also, to discuss constituents of Economic Environment in detail.

Ans 2.

Economic Environment in International Marketing The economic environment is a crucial factor influencing international marketing, shaping the strategies and operations of businesses across borders.

It encompasses various economic conditions and factors that affect consumer behaviour, purchasing power, market potential, and the overall viability of conducting business in a foreign market. Understanding the economic environment helps companies tailor their

 

 

3. Discuss any two trade theories of your choice related to international trade.

Ans 3.

David Ricardo’s Theory of Comparative

Advantage Economist David Ricardo in his ‘theory of comparative advantage’ discovered further the Adam Smith’s theory of absolute advantage. He visualised a situation as to what might happen, when one country has an absolute advantage, in the production of all goods. If Adam Smith’s theory is applied, a country having absolute advantage in the production of all the goods may not derive any advantage when it involves in international trade.

David Ricardo in his book Principles of Political Economy (1817) mentioned that it makes sense for a country to specialise in the production of those goods which they most efficiently

 

 

Assignment Set – 2

 

 

4. With the help of suitable example, discuss the process of Global Product Planning.

Ans 4.

Global Product Planning involves taking vital decisions based on a variety of inputs in the following areas like:

• Products to be introduced in the market
• Brand names to be used
• Pattern of packaging
• Guarantees and warranties to be offered
• After sales services to be offered
• Right time to enter the market.

In the international marketing endeavour, the needs of a global market must be analysed using market research, keeping in mind the long-term interest of the business firm. A

 

5. What are advantages and disadvantages of exporting? Discuss in detail.

Ans 5.

Advantages of exporting

1. Exporting helps companies to increase overall sales volume, improve market share and generate profit margins that are often more favourable than in the domestic country.
2. It reduces dependence on the domestic market.
3. Exporting helps to sustain and stabilise sales associated with economic cycles or seasonality of demand. For example, woollen products can be exported to other countries even on off-season months.

 

6. As International Firm, how you will promote your product abroad? Explain.

Ans 6.

Strategies for Promoting a Product Abroad as an International Firm

Promoting a product abroad requires an international firm to implement a strategic approach that adapts to the diverse cultural, economic, and legal landscapes of the target markets. This approach typically involves a combination of market research, localized marketing strategies, strategic partnerships, and leveraging digital marketing platforms. Here’s a detailed exploration of these strategies:

Market Research and Localization: The first step in promoting a product abroad is