Examination Paper: Marketing Management
IIBM Institute of Business Management 1
IIBM Institute of Business Management
Examination Paper MM.100
International Marketing Management
Section A: Objective Type (30 marks)
Part One:
Multiple choices:
1. International marketing includes activities that direct the flow of goods from
a. One country to one country
b. One country to another country
c. One country to multiple country
d. All of the above
2. ETC stands for
a. Expert trading companies
b. Essential trading companies
c. Export trading companies
d. None of the above
3. Till 1950-56 there was no clear exim policy and no _________ restrictions of any kind
a. Import
b. Export
c. Both a) & b)
d. None of the above
4. Tariffs have been
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Difference between domestic marketing and international marketing
As explained earlier, both domestic as well as international marketing refer to the same marketing principles. However, there are glaring dissimilarities between the two.
Scope – The scope of domestic marketing is limited and will eventually dry up. On the other end, international marketing has endless opportunities and scope.
Benefits – As is obvious, the benefits in domestic marketing are less than in international marketing. Furthermore, there is an added incentive of foreign currency that is important from the point of view of the home country as well.
Sharing of technology – Domestic marketing is limited in the use of technology whereas international marketing allows use and sharing of latest technologies.
Political relations – Domestic marketing has nothing to do with political relations whereas international marketing leads to improvement in political relations between countries and also increased level of cooperation as a result.
Barriers – In domestic marketing there are no barriers but in international marketing there are many barriers such as cross cultural differences, language, currency, traditions and customs.
2. Write a short note on World trade organization (WTO).
The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January
Marketing or sale a product globally, would need a research and thorough analysis. Many companies have their own international marketing CEO’s and separate department who handles, how to launch or market a product in certain countries, by considering so many factors, including country related governance policies,
8 The only difference between the definitions of domestic marketing and international marketing is that marketing activities:
1. The benefits and obstacles of globalization for Natura Globalization can be described as the process of the increasing worldwide interconnectedness in many areas such as economics, politics, culture, communication, environment, etc. The consolidation of the global relations occurs on the level of individuals, societies, institutions and countries. The digital revolution, the technical advance in general and especially in regard to communication- and transport technologies as well as the political decisions to promote liberalization of world trade can be mentioned as main drivers
The importance of international marketing increased in the last years in a context in which market saturation and competition broke out within different branches. The analysis of foreign markets became more important for enterprises, because of the increasing internationalization of the business activity. While at the beginning of the internationalization, standardization and differentiation just considered domestic markets, today market segmentation is taken on global extent because of intensified individualisation of behaviour 's demand of the consumers. It can happen, that consumers of different countries due to increased mobility, assimilation of demographic structure and better communication and information technologies, show more
Companies over the world are striving to become multinationals. Globalisation and corresponding developments in transport and communication technologies have helped companies achieve this objective and find worldwide markets. Needless to say, aspiring companies need research and knowledge about markets to back their willingness to expand to foreign markets. All markets are different and pose different challenges to operate. For instance, each product has its own unique selling preposition and a one-size-fits-all strategy is not applicable across the global markets. It is important to have knowledge about factors such as people’s potential to buy the product,
The literature on international marketing presents a confrontation between two mainstream schools of thought regarding international marketing. The one supports the standardization approach and argues that multinational companies’ behavior should be uniform to minimize total costs and promote a global corporate image. The other argues for the need for adaptation to fit the unique dimensions of each local market. This research investigates companies’ practical level of adaptation and standardization in international markets. It identifies
Before any company embarks on the process of international marketing and selling its products in foreign countries, it is proper that it does a sort of strategic analysis to examine the feasibility and its scope for success. The whole marketing mix sometimes needs to be
According to Isobele (2008), in the book, International Marketing Strategy, International Marketing is defined as the movement of a firm’s marketing strategy that uses one or more marketing mix decisions across national boundaries. It involves the firm in establishing manufacturing or production facilities around the world and coordinating marketing strategies across the globe. Where the marketing activities of an organization include activities, interests or operations in more than one country and where there is some kind of influence or control of marketing activities from outside the country in which the goods or services will actually be sold. Sometimes markets are typically perceived to be independent and a profit center in their own
In order to globally connect with the target market and successfully market products internationally, it is important for a company to know the market, recognize cultural values, localize the marketing campaign, and take into consideration the language barriers.
When companies decide to enter the international business market they can do so via two different strategies, the multinational and global strategies. These two may seem like they are the same but in reality each strategy is very different. The multinational strategy’s main purpose is to adjust the product being offer to better appeal to the people or place to where it is being offer, while the global strategy does not make that distinction. Using the global strategy means that the same market strategy used in one country can also be used in another country without regard to the place, people or their culture. It may perhaps sound like an unreasonable strategy but when the product you must sell is standard the most important factor is cost; the global strategy succeeds in this regard.
International marketing - marketing of goods and services outside the country of deployment of the company 's head office (Cant et al, 2007).
To conduct this research I have used research Exploratory Method to analyse primarily through Secondary data collection methods that is through Books, Internet and Journals. This method is used as there are thousands of books, journals and articles are polished about global and domestic marketing .This gives a clear view about the topic and helps us to reach a hypothesis. Authors like Boyd.W, Westfall.R,& Stasch.F (2004), Bush and Burns (2006) support this argument.
The literature on standardization of international marketing strategy has rapidly increased in amount since Levitt (1983) suggested the main concept that business strategies and their influences on firm performance should be universal through national markets which are very much alike culturally, economically and politically, in spite of limited empirical evidence focused directly on this topic. He pointed out that world markets are becoming more and more identical and therefore a standardized approach to company operations, productions, marketing and other functions is feasible and advisable. This review focuses
International marketing is marketing carried out by firms overseas or across national borderlines. This strategy is an extension of the marketing techniques applied in the domestic market to meet the different demands, buying patterns, demographics and market segments of overseas customers.
This report is basically concerned with the phenomenon of International marketing. At its simplest level it can be said that