- Discuss the concept of international marketing. How is international marketing difference from domestic marketing?
Answer: The concept of International Marketing primarily involves an application of marketing tools and techniques to develop and manage trade across international boundaries. The principle of international marketing in its simplest meaning is based upon an understanding of the consumer needs in global markets. Therefore,
- Explain Hofstede’s cultural dimension. Discuss the main elements of culture with examples
A Elements Hofstede’s cultural dimension
Elements of culture
Answer: Hofstede’s cultural dimensions
Power distance: The term “power distance” refers to the degree of inequality among people who are viewed equal. Power distance implies the ways through which people develop interpersonal relationship in a society. The hierarchy of relationships is of two kinds, namely, vertical and horizontal. In vertical hierarchy, there is a
- Define international marketing research approach? Discuss the international research process.
A International marketing research approach
Discuss the various steps in the process
Answer: International marketing research deals with the analysis of the market, information regarding the nature, size, organisation, profitability of different markets, changes in the market and various factors – economic, social and political – affecting those changes. International markets are characterised by rapid technology change and knowledge obsolescence. Due to this, the processes of production and the products become
- Discuss the various steps in the process of product development. Describe international product life cycle.
A Discuss the various steps in process of product development.
Describe international product life cycle
Answer: Product Development Process
Identifying new product ideas: The starting point for an effective worldwide new-product programme is an information system that seeks new-product ideas from all potentially useful sources and channels. Those ideas relevant to the company undergo screening at decision centres within the organisations. There are many
- Write short notes on:
- a) export documentation
- b) export import procedure
Answer: Export Documentation
Documentation protects the interests of both the exporter and importer and also helps in fulfilling the legal requirements of the two countries. The banks deal with documents and not with goods; therefore, to facilitate the flow of goods and payments, the export documents should be prepared with due diligence. An exporter has to prepare a list of documents for a shipment. Below is a list of documents required in an export
- Define ethical problems in international Marketing? Explain the 4ps of international marketing?
A Define ethical problems in IM
Explain 4ps of International marketing
Answer: Ethical Problems in International Marketing
The moral question of what is right or appropriate poses many dilemmas for domestic marketers. Even within a country, ethical standards are frequently not defined or always clear. The problem of business ethics is infinitely more complex in international markets, because value judgements differ widely among culturally diverse groups. That which is commonly accepted as right in one country may be completely unacceptable in
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