SUBJECT

PROGRAM - MBA
CODE & NAME - MK0018 International
Marketing

1. Differentiate between GATT and WTO

Difference between GATT and WTO
The General Agreement on Tariffs and Trade (GATT) was based on conventions
and not considered as an international institution. It was set up in 1947. At that
time, it comprised only 23 countries. Negotiations for the GATT started in the
late 1940s with an aim to reconstruct a multilateral system of world trade
through the elimination of discrimination, the reduction of tariffs and the
dismantlement of other trade barriers. These negotiations were deliberated in
order to increase the economic activities to compensate the damages of World War
II. The GATT was a subsidiary agreement under the International Trade Organisation
(ITO) Charter.
The most important GATTs round was the Uruguay Round on Multilateral Trade
Negotiations concluded in 1994, in which the scope of multilateral trade
negotiations on goods, services and

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2. Write short notes on the following:
A. International franchising
B. International contract manufacturing
A. International franchising

Franchising is a special form of licensing in which the franchisor makes a total

marketing programme available, including the brand name, logo, products and
method of operation. Franchising is defined by International Franchising
Association as the contractual relationship between the franchisor and the
franchisee in which the franchisor offers a continuing interest in the business of
the franchisee in such areas as know-how and training and where the franchisee
operates under a common trade name, format and/or procedure, owned or
controlled by the franchisor and in which
the franchisee has or will make a substantial capital investment in his/her
business from his/her

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3.
What are the stages in which international
markets are screened and analysed?
A four-stage processing for screening and analysing international markets is as
below:

Preliminary screening
Estimating market potential
Estimating sales potential
Identifying segments in target markets

Preliminary screening
After determining the criteria for market selection, the
international market selection process is to conduct
the markets. The objective of the preliminary
eliminate the markets, which obviously do not
revealed by a cursory research.

most important step in the

a preliminary screening of
screening process is to
have enough potential as

The parameters used for preliminary screening may vary from product to
product. Other parameters like the size of the population, per capita income,
structure of the economy, infrastructural factors, political conditions, etc., are very
often considered in the selection of overseas markets.

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4. What is counter-trade? Describe the various
types of counter-trade.
Counter-Trade
Counter-trade is one of the oldest forms of trade wherein the buyer pays
something other than money for purchase of goods and services. It is a
practice that requires a seller as a condition of sale to commit contractually to
reciprocate and undertake certain business initiatives that compensate and
benefit the buyer.
Counter-trade has been on the rise, primarily due to its inherent advantages vis-vis monetary transaction, such as:

It provides a trade financing alternative to those countries that have an

international debt and liquidity problems.
It helps to access new markets where payment problems exist.
It helps promote bilateral trade agreements between the governments.

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5. Briefly discuss the role of sales promotion and
personal selling in international marketing.
Sales promotion
Sales promotion is an important tool of marketing communication because it is
directed at consumers, and it involves such activities like couponing,
sampling, premiums, consumer education and demonstration activities, centsoff packages, point-of-purchase materials and direct mail. Sales promotion
directed at intermediaries known as trade promotion includes activities like
trade shows and exhibits, trade discounts and co-operative advertising. For
example, attendance at an appropriate trade shows is one of the best ways to
make contracts with government officials and decision makers, or to work with
present intermediaries or attract new ones.
Objectives of sales promotions
Promotion includes providing information about the attributes of the product and
communicating messages aimed at satisfying its shareholders, government
dealers and the like. The main

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6. Write short notes on the following:
a. Bill of Exchange
b. Packing list

c. Air way bill

d. Certificate of origin
e. Consular invoice
a. Bill of Exchange
A Bill of Exchange (B/E) is an unconditional order in writing by the exporter to the
importer asking the importer to make the payment of a certain amount. The
exporter is called the drawer and the importer is called the drawee here. When
a draft bill is drawn on a foreign firm, it is termed as a foreign draft or bill
of exchange. It is prepared either in an international currency or Indian rupee
depending
on the terms of the contract. Accordingly, the bill is known by the name of the
currency in which it is drawn. For example, the bill drawn in US dollars is known as
Dollar Bill and when prepared in rupees it is termed as Rupee Bill.
A B/E or draft is of two types (a) Sight Draft and (b) Usance Draft or Usance
Bill. When a drawer, that is, exporter, expects the drawee, that is, importer, to
make the payment immediately after the

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