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|These are the Important Question of IBO-02
|Explain the key decisions in international marketing communications.
Answer: International marketing communications mein kuchh important decisions hote hain:
Target Audience: Sabse pehle, target audience ko decide karna zaroori hai. Isse pata chalta hai ki aap kis desh ya region mein apne products ya services ko promote karna chahte hain aur usme kaun se log interested honge.
Message: Message ya communication ko decide karna bhi bahut zaroori hai. Isme aapko decide karna hai ki aap kis language mein apne message ko convey karenge aur usme kaun se cultural references add karenge.
Channels: Promotion ke liye kis channels ka use karna hai bhi ek important decision hai. Different countries mein alag-alag channels popular hote hain jaise TV, radio, print media, digital media etc. Aapko inme se kaun sa channel use karna hai, usse bhi decide karna zaroori hai.
Budget: International marketing communications mein budget bhi ek important decision hai. Different countries mein alag-alag rates hote hain, isliye aapko apne marketing campaign ke liye kitna budget allocate karna hai, usse decide karna hoga.
Timing: Marketing campaign ko kab launch karna hai bhi important decision hai. Different countries mein different cultural festivals aur events hote hain, jinhe target karke aap apne products ya services ko promote kar sakte hain. Isliye, timing ko decide karna bhi zaroori hai.
In sabhi decisions ko carefully consider karna bahut zaroori hai, taaki aapka international marketing campaign successful ho sake.
|“International marketing research in full of complexities.” Discuss
Answer: Antarrashtriya marketing research kaafi complex hota hai. Isme kuchh challenges hote hain, jinhe handle karna kaafi mushkil ho sakta hai. Kuchh complexities jo isme aati hain, unke baare mein discuss karte hain:
Language Barrier: Alag-alag countries mein alag-alag languages ka use hota hai. Isliye, survey forms ko translate karna aur respondents ke saath communication karna kaafi challenging ho sakta hai.
Cultural Differences: Alag-alag countries mein alag-alag cultural differences hote hain. Isliye, kuchh survey questions aur research methodologies ek country mein work karte hain, lekin doosre country mein kaam nahi karte hain. Cultural differences ko samajhna aur unhe handle karna complex hota hai.
Data Collection: Data collection kaafi difficult ho sakta hai, kyunki alag-alag countries mein alag-alag laws aur regulations hote hain. Kuchh countries mein data privacy laws bahut strict hote hain, jinke against koi bhi data collect karna illegal hai. Isliye, data collection kaafi challenging ho sakta hai.
Market Dynamics: Alag-alag countries mein alag-alag market dynamics hote hain. Isliye, ek research methodology jo ek country mein work karti hai, doosre country mein kaam nahi karti hai. Market dynamics ko samajhna aur unhe handle karna bhi complex hota hai.
Sample Selection: Respondents ko select karna kaafi complex ho sakta hai. Alag-alag countries mein alag-alag demographic aur geographic factors hote hain, jinke according sample selection karna important hota hai.
In sabhi complexities ko handle karna kaafi challenging ho sakta hai, isliye antarrashtriya marketing research kaafi complex hota hai.
|“EPRG framework identifies four types of orientation towards internationalisation of business operations.” Discuss how this EPRG orientation leads to different marketing strategies of a firm.
Answer: EPRG framework, international business operations ke chaaron types ke orientations ko identify karta hai: Ethnocentric, Polycentric, Regiocentric aur Geocentric. Ye orientations, firms ke international marketing strategies ko influence karte hain. Is baare mein discuss karte hain:
Ethnocentric Orientation: Ethnocentric orientation mein, firm apni domestic marketing strategies ko international market ke liye use karta hai. Isme, firm ke management believe karte hain ki unki domestic marketing strategies bahut effective hain aur woh international market mein bhi kaam karenge. Isliye, is orientation ke firms, global market mein apne domestic products ko sell karte hain. Is strategy mein, product aur promotion ka standardization hota hai.
Polycentric Orientation: Polycentric orientation mein, firm apne international marketing strategies ko local market ke hisaab se customize karta hai. Isme, firm ke management believe karte hain ki har country ka market unique hota hai aur har country mein alag-alag marketing strategies ka use karna chahiye. Isliye, is orientation ke firms, local market mein apne local products ko sell karte hain. Is strategy mein, product aur promotion ka localization hota hai.
Regiocentric Orientation: Regiocentric orientation mein, firm ek particular region ke liye marketing strategies ko develop karta hai. Isme, firm ke management believe karte hain ki ek particular region ke market dynamics similar hote hain aur unke liye ek particular marketing strategy ka use karna effective hota hai. Isliye, is orientation ke firms, particular region mein apne products ko sell karte hain. Is strategy mein, product aur promotion ka regionalization hota hai.
Geocentric Orientation: Geocentric orientation mein, firm globally consistent marketing strategies ka use karta hai. Isme, firm ke management believe karte hain ki global market mein ek particular marketing strategy ka use karna effective hota hai. Isliye, is orientation ke firms, globally consistent products aur promotion ka use karte hain. Is strategy mein, product aur promotion ka standardization aur customization ka combination hota hai.
In chaaron orientations ke according, firms ke international marketing strategies alag-alag ho sakte hain. Isliye, firms ko in orientations ke baare mein samajhna aur unke hisaab se apne international marketing strategies ko develop karna important hai.
|Discuss the importance of services in world trade. Critically evaluate the opportunities for India in international marketing of services.
Answer: Duniya bhar mein services world trade ke liye kaafi important hote hain. Services, world trade ka ek significant component hai, jiska size aur scope continuously grow kar raha hai. Services ke importance ke baare mein discuss karte hain aur opportunities for India ke baare mein bhi critically evaluate karte hain:
Economic Contribution: Services world trade mein ek important economic contributor hai. Services ki value chain mein bahut saare industries hote hain, jisme IT, finance, education, healthcare, tourism, transportation, logistics, engineering, architecture, aur legal services shaamil hote hain. Ye industries, employment aur income generate karte hain aur overall economic growth ko promote karte hain.
Innovation: Services, innovation ko encourage karte hain. Innovative services, businesses ko competitive advantage provide karte hain aur new markets create karte hain. Digital services, jaise ki e-commerce, mobile banking, online education, telemedicine, aur cloud computing, bahut innovative services hain, jinke demand continuously increase kar rahi hai.
Trade Surplus: Services, trade surplus create karte hain. High-value services, jaise ki IT services, engineering services, aur business process outsourcing, mein India world leader hai. India, aise services ko high quality aur low cost mein provide karta hai, jiske wajah se India ka services trade surplus continuously increase kar raha hai.
Globalization: Services, globalization ko promote karte hain. Globalization ke wajah se, services mein international trade opportunities increase hote hain. India, apne high-skilled labour force aur low cost of labour ke wajah se, global services market mein ek important player hai.
Opportunities for India in international marketing of services:
IT Services: India, IT services mein world leader hai. Indian IT firms, globally recognized hote hain aur bahut saare global firms ke liye IT services provide karte hain. Indian IT firms, innovation, quality aur low cost ke wajah se globally competitive hain.
Healthcare Services: India, affordable aur high-quality healthcare services provide karne ke liye globally known hai. Medical tourism, India mein continuously increase kar raha hai, jiske wajah se India mein bahut saare foreign patients treatment ke liye aate hain.
Education Services: India, globally recognized education services provide karta hai. India ke educational institutes, high-quality education provide karte hain aur bahut saare foreign students India mein aate hain.
Financial Services: India, globally recognized financial services provide karta hai. Indian banks, globally recognized hote hain aur bahut saare global clients ke liye financial services provide karte hain.
In sabhi services mein, India ke opportunities bahut hain. Isliye, India ko apne high-skilled labour force aur low cost of labour ke wajah se, apne services ko globally promote karna chahiye.
|Evaluate the advantages and disadvantages of various international branding strategies.
Answer: International branding strategies ke kai advantages aur disadvantages hote hain, jinhe hum discuss karte hain:
Global Branding: Global branding ka advantage ye hai ki ek global brand, ek common brand identity create karta hai, jiske wajah se brand awareness increase hoti hai aur customer loyalty bhi increase hota hai. Lekin, global branding ke disadvantage ye hai ki culture, language, aur market ki differences ki wajah se, brand positioning aur marketing strategy adapt karna difficult ho jata hai.
Local Branding: Local branding ka advantage ye hai ki ye local customer preferences aur cultural nuances ko consider karta hai, jiske wajah se local market mein easily adapt ho jata hai. Lekin, local branding ka disadvantage ye hai ki brand consistency, global recognition aur economies of scale ko compromise karna padta hai.
Regional Branding: Regional branding ka advantage ye hai ki ye ek group of countries ko target karta hai, jiske wajah se language aur cultural differences ko consider karna easy ho jata hai. Lekin, regional branding ka disadvantage ye hai ki brand recognition aur economies of scale ko compromise karna padta hai.
Hybrid Branding: Hybrid branding ka advantage ye hai ki ye local preferences ko consider karta hai, lekin global brand identity ko maintain karta hai. Is branding strategy mein, local brand naam aur logo ke saath global brand naam aur logo bhi use kiye jaate hain. Lekin, hybrid branding ka disadvantage ye hai ki brand recognition aur economies of scale ko compromise karna padta hai.
Umbrella Branding: Umbrella branding ka advantage ye hai ki ye ek parent brand ke saath multiple product lines ko cover karta hai. Is branding strategy mein, product lines ke brand naam ke saath parent brand ka naam bhi use kiya jaata hai. Lekin, umbrella branding ka disadvantage ye hai ki ek product line ki failure, parent brand image ko bhi affect kar sakti hai.
In sabhi international branding strategies ke advantages aur disadvantages hote hain, aur in strategies ko choose karna depend karta hai on brand objectives, target market, aur company’s resources.
|What is primary data in international marketing research ? Discuss various methods of collecting primary data
Answer: International marketing research mein primary data, wo data hota hai jo khud se collect kiya gaya hai, market research ke through, aur is data ke collected hone ke baad, ye data first time use hone ke liye ready hota hai.
Kuch primary data collection methods hain:
Surveys: Surveys ka use karke, respondents se direct feedback collect kiya jaata hai, jo ki quantitative aur qualitative dono types ke ho sakte hain. Survey method mein, questionnaires ya interviews ka use kiya jaata hai, aur ye method flexible aur cost-effective hota hai.
Focus groups: Focus groups, ek group of respondents se feedback collect karne ka ek method hai. Ek focus group mein, usually 8-10 log hote hain, jo ek particular topic ke baare mein discuss karte hain. Focus groups, qualitative data collect karne ke liye best hote hain, aur ye method customer feedback aur market trends ko understand karne mein helpful hota hai.
Observational research: Observational research method mein, researchers directly observe karte hain, aur jo data collect hota hai wo qualitative hota hai. Is method ka use, product testing, store layout design, aur customer behavior ke study ke liye kiya jaata hai.
Experiments: Experiments, marketing research ke liye, ek controlled environment mein feedback collect karne ka method hai. Is method ka use, product testing, pricing strategies, aur marketing campaigns ke effects ke study ke liye kiya jaata hai.
Field trials: Field trials, real-life scenarios mein products aur services ka testing karne ka method hai. Is method ka use, product launch se pehle, aur market response ke study ke liye kiya jaata hai.
In sabhi primary data collection methods ke through, researchers direct feedback collect karte hain, aur is data ko use karke, market trends aur customer preferences ke baare mein insights gain kiye jaate hain.
|Explain the concept of product life cycle and discuss various life cycle stretching strategies.
Answer: Product life cycle, ek product ka journey hai, jise development, introduction, growth, maturity aur decline ke phases mein divide kiya jaata hai. Ye product ka sales, revenue aur profit ke changes ko bhi track karta hai.
Kuch life cycle stretching strategies hain:
Adding new features or upgrading the product: Ek product mein new features add karna, existing product ko refresh karta hai, jiske wajah se customer retention aur acquisition increase hota hai. Is strategy ko use karne se, product maturity aur decline phases ko stretch kiya ja sakta hai.
Expanding the target market: Existing product ki target market ko expand karne se, product ki sales aur revenue growth ke chances increase hote hain. Is strategy ko use karne se, product introduction aur growth phases ko stretch kiya ja sakta hai.
Geographical expansion: Ek product ki geographical reach ko expand karna, new markets mein growth ke opportunities create karta hai. Is strategy ko use karne se, product growth aur maturity phases ko stretch kiya ja sakta hai.
Pricing strategies: Pricing strategies ke through, product life cycle ko stretch kiya ja sakta hai. Pricing strategies include discounts, promotions, aur bundling, jisse existing customers retention ke saath new customers acquisition bhi increase hota hai.
Diversification: Diversification, ek new product launch ke through kiya jaata hai, jisse existing product ke saath product line expand kiya jaata hai. Diversification strategy ko use karne se, product introduction aur growth phases ko stretch kiya ja sakta hai.
Ye life cycle stretching strategies, product life cycle ke different phases mein product ke sales aur revenue growth ko stretch karne mein helpful hote hain. Ye strategies ko use karne se, product ke life cycle ke different stages mein company ki performance ko improve karne ke opportunities create kiye ja sakte hain.
|What is international marketing communication ? Discuss the key issues in international marketing communication
Answer: International marketing communication, global audiences ke saath communication ke liye design kiya gaya ek process hai, jo ek brand ya product ke international growth ke liye essential hai. Ye communication process, ek company ke messages ko global level par convey karna, aur target audience ke saath effective communication ko ensure karna include karta hai.
Kuch key issues in international marketing communication hain:
Language barriers: Different countries aur cultures mein different languages aur dialects hote hain, jisse communication barrier create ho sakta hai. Isliye, international marketing communication ke liye, effective translation aur localization strategy ka use kiya jaana chahiye.
Cultural differences: Different countries mein cultural norms, values, aur beliefs different hote hain, jisse communication message ko convey karna difficult ho sakta hai. Isliye, international marketing communication ke liye, cultural awareness aur sensitivity ko consider karna important hai.
Media consumption habits: Different countries mein media consumption habits bhi different hote hain. Kuch countries mein, traditional media, jaise newspapers aur television, ka use jyada hota hai, jabki kuch countries mein digital media ka use jyada hota hai. Isliye, international marketing communication strategy ko target audience ke media consumption habits ko consider karke design kiya jaana chahiye.
Legal and regulatory issues: Different countries mein different laws, regulations, aur policies hote hain, jisse communication message ko convey karna difficult ho sakta hai. Isliye, international marketing communication strategy ke design ke liye, legal aur regulatory compliances ko consider karna important hai.
Brand consistency: Different countries mein ek brand ki perception aur positioning different ho sakti hai, jisse brand consistency ka issue create ho sakta hai. Isliye, international marketing communication strategy ke design ke liye, brand consistency ko maintain karna important hai.
Ye key issues, international marketing communication ke design ke liye consider kiye jaane wale important factors hain. Ye issues ko overcome karne ke liye, effective communication strategy, market research, aur cultural awareness ka use kiya jaana chahiye.
|Discuss the steps involved in carrying international marketing research. Explain with examples.
Answer: International marketing research ek critical process hai, jiske through companies apne target market aur audience ke baare mein information collect karte hain, jisse effective marketing strategy ko design kiya ja sakta hai. Ye research process kuch steps include karta hai:
Identify the research problem: Research ka starting point, ek specific problem ko identify karna hota hai, jisse research ko focus mil sake. For example, ek company jo apne products ke sales ko increase karna chahti hai, unhe target market aur consumer behaviour ke baare mein research kar sakti hai.
Determine research design: Research design ko determine karna important hai, jisse research question ka answer mil sake. Research design ka choice, research problem aur available resources ke based par kiya jata hai. For example, ek company jo apni target market ke demographic aur psychographic information ke baare mein research karna chahti hai, unhe survey research design ka use kar sakti hai.
Collect data: Research design ke based par, data collection ke liye appropriate methods ka use kiya jata hai. Ye methods include surveys, interviews, observation, aur experiments. For example, ek company jo apne product ke market mein competition ke baare mein information collect karna chahti hai, unhe competitors ke products aur pricing information ka analysis kar sakte hain.
Analyze data: Data ko analyze karke, insights ko collect kiya jaata hai. Data analysis ke liye, statistical techniques ka use kiya jata hai, jisse data ko interpret kiya ja sake. For example, ek company jo apne product ke features aur benefits ke baare mein research kar rahi hai, unhe data analysis ka use karke, target market ke preferences aur needs ka pata laga sakte hain.
Present findings: Research ke findings ko presentation ke through, communicate kiya jaata hai. Ye findings, company ke marketing strategies ko design karne mein helpful hote hain. For example, ek company jo apni international marketing communication strategy ko design kar rahi hai, unhe research findings ka use karke, effective marketing messages aur media channels ka selection kiya ja sakta hai.
Ye international marketing research ke steps, effective research ke liye important hote hain. In steps ko follow karke, companies apne target market aur audience ke baare mein valuable insights collect kar sakte hain, jisse effective marketing strategies design kiya ja sakta hai.
|Describe the process of developing new product for the international markets.
Answer: New product development process for international markets, kuch steps include karta hai:
Market research: New product development process ke starting point, market research hai. Ye process, target market ke needs aur preferences ko understand karne mein helpful hota hai. Companies, apne target market ke demographics, psychographics aur consumer behaviour ke baare mein research karke, product ki conceptualization kar sakte hain.
Product conceptualization: Market research ke based par, product ki conceptualization ki jaati hai. Product conceptualization, product ki specifications aur features ko define karne mein helpful hota hai. Companies, product design, product features, aur product packaging ke baare mein brainstorming karte hain, jisse ek product concept banaya jaata hai.
Product development: Product conceptualization ke baad, product development process shuru hota hai. Product development, product ke design aur testing ko involve karta hai, jisse final product design ko improve kiya ja sake. Companies, product development ke liye research, engineering, design aur testing teams ka use karte hain.
Manufacturing: Product development ke baad, product ko manufacture kiya jaata hai. Manufacturing process, product ki specifications aur quality standards ke based par hota hai. Companies, product manufacturing ke liye supply chain aur logistics ka use karte hain.
International market testing: Product ko international markets ke liye design kiya jaata hai, jisse international market ke preferences aur needs ko consider kiya ja sake. International market testing, product ki acceptability aur feasibility ko test karne mein helpful hota hai. Companies, product ko select international markets mein launch karke, product ki effectiveness aur customer response ko test karte hain.
Launch: Product ki final launch process, international markets ke liye hoti hai. Product launch, marketing strategies aur promotion campaigns ko involve karta hai. Companies, product launch ke liye effective marketing campaigns design karke, target market ke baare mein information collect karte hain.
Ye new product development process, international markets ke liye important hota hai. Companies, apne products ke international markets ke preferences aur needs ke based par design karte hain, jisse product ki effectiveness aur customer response ko improve kiya ja sake.
|Explain the different approaches to budgeting for international advertising.
Answer: International advertising budgeting ke liye, kuch different approaches hote hain:
Centralized budgeting: Centralized budgeting, parent company ya central headquarters se budgeting ko control karne wale approach ko refer karta hai. Is approach mein, parent company international advertising ko control karta hai, aur advertising budgeting ke liye centralized funds provide karta hai. Is approach mein, company ke different regions aur subsidiaries ka advertising budget central fund se distribute kiya jaata hai.
Decentralized budgeting: Decentralized budgeting, company ke different regions aur subsidiaries ko advertising budgeting ke liye responsibility deti hai. Is approach mein, regional aur local level pe advertising budgeting, regional aur local level ke management ke haath mein hota hai. Ye approach, regional aur local level pe advertising ko customize karne mein helpful hota hai.
Hybrid budgeting: Hybrid budgeting, centralized aur decentralized budgeting approach ko combine karta hai. Is approach mein, parent company ko centralized funds provide kiya jaata hai, lekin regional aur local level pe advertising budgeting, regional aur local level ke management ko assign kiya jaata hai. Is approach mein, centralized funds, regional aur local level pe customize advertising ko support karne ke liye use kiya jaata hai.
Ye different approaches, company ke international advertising budgeting ke liye use kiye jaate hain. Har approach ki apni pros aur cons hoti hain. Company, apne budgeting approach ko apne business requirements aur advertising goals ke based par select karti hai.
|“International marketing research is full of complexities.” Comment.
|Explain the key decisions in international marketing communications.
|Discuss the importance of services in world trade. Critically evaluate the opportunities for India in international marketing of services.
|“Compared with products, international marketing of services possess distinctive challenges.” Comment.
|Evaluate the advantages and disadvantages of various international branding strategies.
|What is primary data in international marketing research ? Discuss various methods of collecting primary data.
|Explain the concept of product life cycle and discuss various life cycle stretching strategies.
|What is international marketing communication ? Discuss the key issues in international marketing communication.
|hat do you understand by international marketing environment.
| Factors affecting international market Packaging Decisions
Packaging decisions are an important factor that can affect a company’s success in the international market. Some of the key considerations for international packaging include:
Cultural sensitivity: Packaging design must take into account cultural differences and avoid any designs that may be offensive to local consumers.
Local regulations: Packaging must comply with local laws and regulations regarding labelling, materials, and disposal.
Transportation and storage: Packaging must be designed to withstand the rigors of international transportation and storage, including temperature changes and rough handling.
Language: Packaging must be labelled in the language(s) of the target market and include all necessary information, such as ingredients, usage instructions, and warning labels.
Brand recognition: Packaging should reflect the company’s brand image and be consistent across all international markets to maintain brand recognition.
Overall, packaging decisions play a crucial role in the success of a product in the international market, as they can impact the product’s image, perceived value, and marketability.
|Question 3.Discuss various objectives of international 20 marketing communication. (December, 2011)
Answer International marketing communication refers to the process of promoting a company’s products or services in foreign markets through various communication channels. The main objective of international marketing communication is to effectively communicate the unique benefits of a product or service to the target audience, build brand awareness, and increase sales. Some of the specific objectives of international marketing communication include:
Building brand awareness: By communicating the unique features and benefits of a product or service, companies can build brand awareness among foreign consumers and establish a strong presence in international markets.
Increasing sales: Effective marketing communication can help increase sales by reaching potential customers and creating demand for a product or service.
Establishing brand loyalty: By creating a positive image of the company and its products, international marketing communication can help build brand loyalty among foreign consumers and create repeat business.
Overcoming cultural barriers: International marketing communication must take into account cultural differences and overcome any potential cultural barriers that may impact consumer behaviour.
Addressing consumer needs: International marketing communication must effectively communicate the unique benefits of a product or service that address the needs and preferences of foreign consumers.
Maintaining brand consistency: International marketing communication must maintain brand consistency across all international markets to ensure that the brand image is consistent and easily recognisable by consumers.
Overall, the objectives of international marketing communication are diverse and require careful consideration and planning to ensure that the communication is effective and supports the company’s goals and objectives in international markets.
|Explain the process of international marketing 20 research. (June, 2011 )
Answer :International marketing research is a critical component of the international marketing process, as it helps companies better understand the foreign market and develop effective marketing strategies. The process of international marketing research typically involves the following steps:
Define the research problem: The first step in the process is to clearly define the research problem, which is the gap in knowledge that the research is intended to fill. This step involves determining what information is needed to make informed marketing decisions.
Develop a research design: The next step is to develop a research design, which outlines how the research will be conducted. This step involves choosing the appropriate research methods, such as surveys, focus groups, or secondary data analysis.
Collect data: The next step is to collect data, which can be done through various methods, such as surveys, focus groups, or secondary data analysis. The choice of data collection method will depend on the research design and the research problem.
Analyse data: The next step is to analyse the data, which involves processing and interpreting the data to extract meaningful insights. This step may involve using statistical methods to process the data, or using qualitative methods to interpret the data.
Present findings: The final step is to present the findings, which may be done in the form of a report or a presentation. This step involves communicating the results of the research in a clear and concise manner.
Overall, the process of international marketing research is a systematic and systematic approach to understanding the foreign market and developing effective marketing strategies. Effective international marketing research can help companies make informed decisions and increase their competitiveness in the international market.
|Briefly discuss various barriers to international marketing of services. Explain how those barriers can be overcome with the implementation of GATS. (June, 2011 )
Regulatory restrictions: In some countries, there may be regulatory restrictions that prevent service providers from offering their services to local customers. These restrictions can be related to licensing, insurance, or other legal requirements.
Language and cultural differences: In some countries, language and cultural differences can pose a significant challenge to service providers. Service providers may need to adapt their services to local customs and traditions, and may need to invest in language training for their staff.
Lack of standardisation and recognition of qualifications: In some countries, there may be a lack of standardisation and recognition of qualifications in the service sector, which can make it difficult for service providers to operate effectively.
The General Agreement on Trade in Services (GATS) is a multilateral trade agreement that aims to remove barriers to trade in services and promote economic growth. The implementation of GATS can help to overcome barriers to international marketing of services by:
Promoting regulatory transparency: GATS promotes regulatory transparency, which can help service providers understand the legal requirements for offering their services in diff Barriers to international marketing of services can include regulatory restrictions, language and cultural differences, and lack of standardisation and recognition of qualifications in rent countries.
Encouraging mutual recognition of qualifications: GATS encourages mutual recognition of qualifications, which can help to overcome the lack of standardisation and recognition of qualifications in the service sector.
Providing a framework for dispute resolution: GATS provides a framework for dispute resolution, which can help service providers resolve disputes with foreign customers or regulatory authorities.
Overall, the implementation of GATS can help to overcome some of the key barriers to international marketing of services, and can provide a more level playing field for service providers in the international market.
|Question 12.”Poor presentation of the marketing research 20 report may undo the entire market research exercise”, Discuss. (December, 2011)
Answer: The presentation of a marketing research report is critical to the success of the entire market research exercise. A poor presentation of the report can undermine the efforts made during the research phase and result in the research findings not being taken seriously by stakeholders.
A poorly presented report can be confusing, difficult to understand, and unappealing to read, which can make it difficult for stakeholders to understand the findings and insights. This can result in the report not being used to inform business decisions and the entire market research exercise being seen as a waste of time and resources.
Additionally, a poor presentation can also damage the reputation of the market research team and the organisation as a whole. If stakeholders are unable to understand the report, they may question the competence of the research team, which can impact their credibility and future opportunities for conducting market research.
In order to avoid these negative consequences, it is important for the marketing research report to be presented in a clear, concise, and visually appealing manner. This includes using clear and easy-to-understand language, providing clear and meaningful charts and tables, and ensuring that the report is well-organised and easy to navigate.
In conclusion, a well-presented marketing research report can help to ensure that the findings and insights are taken seriously by stakeholders, while a poor presentation can undermine the entire market research exercise. Companies need to pay close attention to the presentation of their marketing research reports in order to effectively communicate their findings and insights to stakeholders.
|Discuss important methods of pricing in international marketing. (December, 2011)
Answer:Pricing is a critical component of international marketing, as it can have a major impact on a company’s success in foreign markets. There are several important methods of pricing in international marketing, including:
Cost-plus pricing: Cost-plus pricing involves determining the cost of producing a product or providing a service, and then adding a markup to determine the selling price. This method is often used in international markets, as it provides a straightforward way of setting prices that covers costs and generates a profit.
Market-oriented pricing: Market-oriented pricing involves setting prices based on market demand and competition. Companies may use market research to gather information on customer preferences, competition, and other factors, and then use this information to set prices that are competitive and appealing to target customers.
Value-based pricing: Value-based pricing involves setting prices based on the value that customers perceive in a product or service. Companies may use marketing research and customer feedback to understand customer needs and preferences, and then set prices that reflect the value that customers see in the product.
Dynamic pricing: Dynamic pricing involves adjusting prices in response to market conditions, such as changes in demand, competition, or supply chain disruptions. Companies can use software and algorithms to monitor market conditions and adjust prices in real-time, which can help them to maximise profits and remain competitive.
Psychological pricing: Psychological pricing involves setting prices that have a psychological impact on customers, such as using odd or rounded numbers, or offering discounts and promotions. Companies can use psychological pricing to influence customer behaviour and increase sales.
In conclusion, there are several important methods of pricing in international marketing, including cost-plus pricing, market-oriented pricing, value-based pricing, dynamic pricing, and psychological pricing. Companies need to carefully consider their pricing strategy when entering new markets, as the right pricing approach can help to increase sales, build customer loyalty, and achieve success in foreign markets
|What are the risks involved in the new product development ? Briefly explain the process of the new product development. (December, 2012)
Answer Risks involved in new product development:
Market risk: The new product may not be well received by the target market, leading to poor sales and financial losses.
Technical risk: The new product may face technical challenges during development or production, leading to delays and increased costs.
Financial risk: The cost of developing a new product can be substantial, and there is always the risk that the product will not generate enough revenue to cover these costs.
Legal risk: There is a risk that the new product may infringe on existing patents or trademarks, leading to legal challenges and financial penalties.
Competition risk: Competitors may launch similar products, which could negatively impact sales and market share.
Process of new product development:
Ideation: Generating new product ideas through internal brainstorming sessions, market research, or customer feedback.
Concept development: Refining the product idea and developing a preliminary concept of the product.
Market research: Conducting market research to determine the feasibility of the product and to identify the target market.
Prototype development: Developing a working prototype of the product to test and refine its features and design.
Test marketing: Launching a limited market test of the product to gather feedback and data on its performance.
Commercialisation: Launching the product on a larger scale and ramping up production and marketing efforts.
Monitoring and evaluation: Continuously monitoring the product’s performance and making adjustments as needed to optimise its success in the market.
|Explain the concepts of consumer promotion, trade promotion and business promotion. Also discuss the main tools used for consumer promotion. (June, 2013)
Answer Consumer promotion refers to the use of various marketing tactics aimed at increasing consumer demand for a particular product or service. This can include discounts, coupons, sweepstakes, contests, and other incentives. The goal of consumer promotion is to encourage customers to make a purchase, or to increase the frequency of their purchases.
Trade promotion refers to the marketing activities directed towards wholesalers, retailers, or other intermediaries with the aim of increasing their demand for a product. These promotions may include cooperative advertising, special sales programs, or incentives for stocking and displaying the product. The objective is to get the intermediaries to sell more of the product to end consumers.
Business promotion refers to the use of various marketing tactics aimed at increasing demand for a product or service from business customers. This can include trade shows, business-to-business advertising, and sales promotions directed at purchasing agents and other decision makers. The objective of business promotion is to encourage businesses to purchase the product for resale or for use in their operations.
The main tools used for consumer promotion are:
Coupons: discounts on specific products or services that can be redeemed by consumers.
Rebates: refunds given to consumers for purchasing a product.
Samples: small quantities of a product given away to consumers to try before they buy.
Contests and sweepstakes: games of chance that offer prizes to winners.
Loyalty programs: rewards offered to customers who make frequent purchases.
These tools can be used to attract new customers, retain existing customers, increase brand awareness, and drive sales. They can also be used to differentiate a product from its competitors and to encourage customer loyalty.
| State the reasons for a business firm to go international. (June, 2013)
Answer There are several reasons why a business firm may choose to go international:
Increased market size: Going international can provide access to new and larger markets, helping the firm to grow its customer base and increase its revenue.
Diversification: By operating in multiple countries, a business can reduce its dependence on a single market and spread its risk across multiple markets.
Competitive advantage: A business may choose to go international in order to gain a competitive advantage over its rivals. For example, it may gain access to lower cost production facilities or specialised knowledge in a particular market.
Access to new technologies and resources: Operating in multiple countries can provide a business with access to new technologies and resources that can be used to improve its products and services.
Economies of scale: By operating on a global scale, a business can achieve economies of scale and lower its costs through the aggregation of demand, the sharing of resources, and the development of specialised expertise.
Improved brand recognition: A global presence can help a business to increase its brand recognition and visibility, and to better serve its customers.
Compliance with regulations: Some industries may require a global presence in order to comply with regulations, such as those related to intellectual property or data protection.
Meeting customer demands: A business may choose to go international in order to better meet the demands of its customers who are located in multiple countries.
In conclusion, a business may choose to go international for a combination of these reasons in order to grow, diversify, and increase its competitiveness in the global market.
|“Selection of target markets is the first stage in 20 international marketing”. In the light of this statement explain the critical factors that influence international market selection. (June, 2013)
Answer :Selection of target markets is a critical first step in international marketing, as it determines which countries or regions a business will focus on for its international expansion. There are several factors that can influence the selection of target markets:
Market size and growth potential: Market size and growth potential are important factors that can influence the selection of target markets, as larger and growing markets are generally seen as more attractive for businesses looking to expand internationally.
Market similarity: Market similarity refers to the degree to which a target market is similar to the home market in terms of consumer behaviour, cultural norms, and regulations. Businesses may prefer to enter markets that are similar to their home market, as they are less likely to encounter unexpected challenges and can more easily adapt their marketing strategies to these markets.
Market accessibility: Accessibility refers to the ease with which a business can enter a target market, and includes factors such as infrastructure, regulations, and the availability of local partners. Markets that are difficult to access may be less attractive to businesses looking to expand internationally.
Market profitability: Market profitability is an important factor that can influence the selection of target markets, as businesses will typically prioritise markets that offer the highest potential for profitability.
Competition: The level of competition in a target market can also influence market selection, as businesses may prefer to enter markets where competition is less intense.
Political stability: Political stability is an important factor in international market selection, as businesses may be reluctant to enter markets that are politically unstable or prone to conflict.
Economic stability: Economic stability is another critical factor in international market selection, as businesses may be wary of entering markets that are economically unstable or prone to recession.
In conclusion, the selection of target markets is an important first step in international marketing, and the critical factors that influence this selection can include market size and growth potential, market similarity, market accessibility, market profitability, competition, political stability, and economic stability.
| Transfer Pricing
Answer Transfer pricing refers to the process of determining the value of goods and services that are traded between units within a multinational corporation. It is the practice of determining the price at which goods or services are sold from one division of a company to another division within the same company.
Tax planning: Transfer pricing can be used as a tool for tax planning, as multinational corporations can allocate profits and losses between divisions in different countries in order to minimise their tax liability.
Internal pricing: Transfer pricing helps multinational corporations to establish a consistent system of internal pricing that reflects the actual cost of producing goods and services within the company.
Management control: Transfer pricing can also be used to help multinational corporations manage their operations, as it provides a mechanism for tracking and comparing the performance of different divisions within the company.
Compliance with regulations: Transfer pricing is subject to regulations in many countries, and multinational corporations must ensure that their transfer pricing practices are in compliance with these regulations in order to avoid penalties or disputes with tax authorities.
Transfer pricing methodologies: There are several transfer pricing methodologies that multinational corporations can use, including the cost-plus method, the resale price method, and the comparable uncontrolled price method.
In conclusion, transfer pricing is an important aspect of multinational corporations’ operations, and it plays a key role in tax planning, internal pricing, management control, and compliance with regulations. Transfer pricing methodologies provide a mechanism for determining the value of goods and services traded between divisions within a multinational corporation.
|Political, economic and cultural environment.
Answer : The political, economic, and cultural environment are three key components of the international marketing environment that can impact a company’s ability to do business in foreign markets.
Political environment: The political environment in a foreign market, including government policies and regulations, can have a significant impact on a company’s ability to operate in that market. For example, trade restrictions or political instability in a foreign market can make it difficult for a company to do business there.
Economic environment: The economic environment of a foreign market, including the level of consumer demand, the state of the local economy, and the exchange rate, can affect the viability of a company’s marketing strategies in that market. For example, if consumer demand is low in a foreign market, a company may need to revise its marketing strategies to better meet the needs of consumers in that market.
Cultural environment: The cultural environment of a foreign market, including the local customs, values, and beliefs, can impact a company’s ability to effectively communicate with and sell to consumers in that market. For example, cultural differences may make it difficult for a company to effectively market its products in a foreign market if those products are not seen as culturally appropriate.
In conclusion, the political, economic, and cultural environment are three key components of the international marketing environment that can have a significant impact on a company’s ability to do business in foreign markets. Understanding these components is critical for multinational corporations to successfully develop and implement marketing strategies in foreign markets.
Answer: Negative publicity refers to information about a company or product that is portrayed in a negative light. This can have a significant impact on a company’s reputation and brand image, as well as its sales and revenue.
Damage to Reputation: Negative publicity can damage a company’s reputation, causing consumers to view the company and its products in a negative light. This can make it more difficult for the company to attract and retain customers, and can impact its ability to do business effectively.
Decreased Sales and Revenue: Negative publicity can lead to decreased sales and revenue, as fewer consumers choose to buy the company’s products or use its services. This can result in lost market share and reduced profitability.
Loss of Trust: Negative publicity can cause consumers to lose trust in a company, making it more difficult for the company to build and maintain positive relationships with its customers. This can impact the company’s long-term success and growth prospects.
Legal Consequences: In some cases, negative publicity can result in legal consequences for a company, as regulators or consumer groups take action in response to negative information. This can result in fines, penalties, and other legal repercussions.
Difficulty in Re branding: Once a company has been associated with negative publicity, it can be difficult to rebrand and rebuild its reputation. Firms must work hard to mitigate the impact of negative publicity and rebuild consumer trust.
In conclusion, negative publicity is a major challenge for companies, as it can damage a company’s reputation, decrease sales and revenue, result in loss of trust, lead to legal consequences, and make it difficult to rebrand. To minimise the impact of negative publicity, companies must be proactive in managing their public image and responding to negative information in a timely and effective manner.
|Discuss the methods used in collecting primary data while conducting a Market Research Study. (December, 2015)
Answer Primary data is collected for a specific research purpose, and is considered more reliable and valuable than secondary data. The methods used to collect primary data in market research include:
Surveys: This involves administering a set of questions to a sample of individuals, either through online, paper-based, telephone, or in-person methods.
Focus Groups: This involves bringing together a group of individuals to discuss and share their opinions on a particular topic.
Interviews: This involves one-on-one interaction with individuals to gather information about their experiences, attitudes, and opinions. Interviews can be conducted in person or over the phone.
Observation: This involves observing the behaviour of individuals in a specific setting to gather data. It is useful in collecting data on consumer behaviour in a particular environment.
Experiments: This involves manipulating one or more variables to observe the effect on a dependent variable. This method tests causality and determines the impact of one variable on another.
Online Panels: This involves using a pre-recruited group of individuals who agree to participate in research studies in exchange for incentives. It is convenient and cost-effective for collecting data from a large sample.
Social Media Data: This involves analysing data from social media platforms such as Twitter and Facebook to gain insights into consumer opinions and preferences.
In conclusion, the method used for collecting primary data will depend on the research objective, budget, and target population. It is important to choose a method that provides accurate and relevant data for the research study.
|Managing Publicity in International Markets.
Answer Managing publicity in international markets is a critical aspect of successful international business operations. The following are some key considerations for managing publicity in foreign markets:
Cultural Awareness: It is important to be aware of and understand the cultural differences and values of a foreign market, as these can impact the way a company’s message is received by its target audience.
Local Laws and Regulations: Companies must be aware of and comply with local laws and regulations regarding advertising and publicity in a foreign market.
Adapting the Message: Companies may need to modify their message to better resonate with the local market and to comply with local laws and regulations.
Utilising Local Channels: Companies should consider utilising local media channels and influencers to reach their target audience in a foreign market.
Building Relationships with Local Stakeholders: Companies should aim to build strong relationships with local stakeholders, including government agencies, media outlets, and influencers, to enhance their public image in a foreign market.
Monitoring Reputation: Companies should closely monitor their public image in a foreign market, and respond quickly and effectively to any negative publicity or reputation issues.
Evaluating Effectiveness: Companies should regularly evaluate the effectiveness of their publicity efforts in a foreign market, and adjust their strategies as necessary to achieve their goals.
Managing publicity in international markets requires a careful and thoughtful approach, as cultural differences, local laws and regulations, and other factors can greatly impact the success of a company’s public relations efforts. By being aware of these considerations and proactively managing their publicity efforts, companies can build a strong and positive public image in foreign markets and achieve success in the global marketplace.
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