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ASSIGNMENT
DRIVE SPRING 2017
PROGRAM MBADS (SEM 4/SEM 6) MBAFLEX/ MBA (SEM 4)
SUBJECT CODE & NAME MK0018– International Marketing
BK ID B 1811
Credit & Marks 4 CREDIT, 60 MARKS
Note: Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
Question.1. Differentiate between GATT and WTO
Answer:The General AgreementonTariffsandTrade (GATT) wasa multilateral agreementregulating
internationaltrade.Itwascreatedin1948andlasteduntil 1993.WorldTrade Organization(WTO) was
formed as a replacement for GATT in 1995 with the purpose of supervising and liberalizing
international trade. WTO has a more permanent structure compared to GATT. WTO also monitors
trade inservicesandtrade-relatedaspectsof intellectual propertyrights,inadditiontotrade ingoods.
There are various bodies or agreements that have
Question.2. Write short notes on the following:
A. International franchising
Answer: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 derivation—fromfranc, meaning
free—and is used both as a noun and as a (transitive) verb. For the franchisor, the franchise is an
alternative tobuilding"chainstores"todistributegoodsthatavoidsthe investmentsandliabilityof a
chain. The franchisor's success depends on the
B. International contract manufacturing

2. Answer:Contractmanufacturingisthe outsourcingof part of the manufacturingprocessof a product
to a third-party. More specifically, contract manufacturing is an outsourcing of certain production
activities that were previously performed by the manufacturer to a third-party. A company may
outsource the manufacture of certaincomponentsfor the product or outsource the assemblyof the
product. Nowadays, outsourcing companies have
Question.3. What are the stages in which international markets are
screened and analysed?
Answer:The International MarketingEntryEvaluationProcessisa five stage process,andits purpose
is to gauge which international market or markets offer the best opportunities for our products or
services to succeed. The five steps are Country Identification, Preliminary Screening, In-Depth
Screening, Final Selection and Direct Experience.
Question.4. What is counter-trade? Describe the various types of
counter-trade.
Answer:Countertrade meansexchanginggoodsorserviceswhichare paidfor, in whole orpart, with
other goods or services, rather than with money. A monetary valuation can however be used in
countertrade for accountingpurposes.Indealingsbetweensovereignstates,the termbilateral trade
isused.OR "Anytransaction involving exchange of goods or service for something of equal value."
Question.5. Briefly discuss the role of sales promotion and personal
selling in international marketing.
Answer:Personal selling is the processof communicating with a potential buyer (or buyers) face-to-
face with the purpose of selling a product or service. The main thing that sets personal selling apart
fromothermethodsof sellingisthatthe salespersonconductsbusinesswiththe customerinperson.
Thoughpersonal sellingismore likely tobe effective withcertaintypesof productsorservices,ithas
important applications for nearly all kinds of small businesses. In fact, most of history's successful
entrepreneurs have been
Question.6. Write short notes on the following:
a. Bill of Exchange

3. Answer:Billsof exchangeare similartochecksandpromissorynotes.Theycanbe drawnbyindividuals
or banksand are generallytransferablebyendorsements.The difference betweenapromissorynote
and a bill of exchange isthat this product is transferable andcan bind one party to pay a third party
that wasnotinvolvedinitscreation.If thesebillsare issuedbyabank,theycanbe referredtoasbank
drafts. If they are issued by
b. Packing list
Answer:The Universal Packing List is a tool that provides a custom travel check list.
Packing mishaps range from merely inconvenient (headingto the Caribbean without your favorite
swimsuit) todownrightdisastrous(findingyou’ve leftthe countrywithoutyourwalletormedication)
but most are
c. Air way bill
Answer:Anairwaybill (AWB) orairconsignmentnoteisareceiptissuedbyaninternationalairline for
goodsandanevidence of thecontractof carriage,butitisnotadocumentof titletothe goods.Hence,
the air waybill is non-negotiable.
The air waybill is the most important document issued by a carrier either directly or through its
authorised agent. It is a non-
d. Certificate of origin
Answer:A certificate of origin (often abbreviated to C/O, COO or CoO) is a document used in
international trade. In a printed form or as an electronic document, it is completed by the exporter
and certified by an recognized issuing body,attesting that the goods in a particular export shipment
have been produced, manufactured or processed in a particular country.
The origin of the product does not refer to the
e. Consular invoice
Answer: A consularinvoice alsohasa copyof the commercial invoice inthe language of the country,
givingfulldetailsof themerchandiseshipped.Ingeneral,the purposeistoprovidethe foreigncustoms
authority with a complete, detailed description of the goods so that the correct import duty can be
levied.
In international law, consularization is the act of authenticating any legal document by the consul
office, by the consul signing and

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