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CUSTOMER_CODE SMUDE DIVISION_CODE SMUDE EVENT_CODE JAN2016 ASSESSMENT_CODE BB0024_JAN2016 QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 32566 QUESTION_TEXT Explain the different political risks with which marketers must contend. SCHEME OF EVALUATION 1. Confiscation: it is the process of a governments taking ownership of a property without compensation. For example of confiscation is the Chinese governments seizure of American property after the Chinese communits took power in 1949. (2 marks) 2. Expropriation: It differs from confiscation in that there is some compensation. (2 marks) 3. Nationalisation: It involves government ownership and it is the government that operates the business being taken over. (2 marks) 4. Domestication: in the case of domestication foreign companies relinguish control and ownership either completely or partially, to the nationals. (2 marks) 5. Creeping expropriation: it is defined as a set of actions whose cumulative effect is to deprive investors of their fundamental rights in the investments. (2 marks) QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 32567 QUESTION_TEXT Explain the basic forms of intellectual property. SCHEME OF EVALUATION 1. Patent 2. Trade mark 3. Copy right 4. Trade secret (2.5 × 4 = 10 marks) QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 32569 QUESTION_TEXT Explain the main types of Bills of Exchange SCHEME OF EVALUATION 1. 2. 3. 4. 5. 6. Clean bill of exchange (2 marks) Documentary bill of exchange (2 marks) Sight or demand bill of exchange (2 marks) Usance or Time bill of exchange (2 marks) After sight usance bill (1 mark) After date usance bill (1 mark) QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 73477 QUESTION_TEXT Explain the Benefits of International Marketing. a. SCHEME OF EVALUATION Survival: Most countries lack market size, resources and opportunities and hence they must trade with others to survive b. Growth of Overseas Markets: Developing countries in spite of economic and marketing problems, are excellent markets. The world market is four times larger than the US market. c. Sales and Profits: Foreign markets constitute a large share of the total business of many firms that have wisely cultivated markets abroad. d. Employment: Trade restriction in US in 1930s contributed significantly to the great depression and caused widespread unemployment. Unrestricted trade, on the other hand, improves the world’s GNP and enhances employment generally for all nations. e. Diversification: Demands for most products is affected by such cyclical factors as recession and such seasonal factors as climate. The unfortunate consequence of these variables is sales fluctuations, which can frequently be substational enough to cause layoffs of personnel. One way to diversify a company’s risk is to consider foreign markets as a solution for variable demand. f. Inflation and Price Moderation: Imports can also be highly beneficial to a country because they constitute reserve capacity for local economy. Without imports, there is no incentive for domestic firms to moderate their prices. The lack of imported product alternatives forces consumers to pay more, resulting in inflation and excessive profits for local firms. g. Standard of Living: Trade affords countries and their citizens higher standard of living than otherwise possible. Without trade, product shortages force people to pay more for less. Trade also makes it easier for industries to specialize and gain access to raw materials, while at the same time fostering competition and efficiency. QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 73480 QUESTION_TEXT What are the factors that influence the standardization potential of marketing programmes? SCHEME OF EVALUATION QUESTION_TYPE The factors that influence the standardization potential of marketing programmes are: 1. Macro environment: The important macro-environmental forces that affect a firm in standardization of marketing programmes are political, legal, cultural and geographic. When a product is politically sensitive in a particular country-market an adapted marketing campaign is called for. If legal regulations concerning taxes, patent and trademark protection, product liability, etc., in the country-markets served by a company are similar, marketing programme standardization is facilitated. In a market with unique cultural characteristics, a standardised strategy from another culture is likely to be unsuccessful. Variations in geography, such as climate may make it necessary to adapt either a product or its distribution or promotion for different country-markets. 2. The market: If a standardised marketing programme is to succeed, the country-markets of interest must have certain characteristics in common, at least to some degree. An important factor influencing the standardization of marketing programmes is the stage of product life cycle a market is in. the degree to which a market is urbanized is another important factor in deciding whether to standardise a marketing programme. The structure of distribution system available in most international consumer product markets is far from being similar. Hence standardization of distribution for consumer product is very difficult. When the customers in a market are mainly interested in the technology of a product, a higher degree of marketing programme standardization is possible. 3. The product: Product is another important factor influencing the decision regarding standardization of marketing programmes. Industrial products are said to be marketed relatively easier with standardised marketing programmes than consumer goods. Which in turn, allow more standardised marketing programmes than services. However, in business practices many consumer products have maintained standardised marketing programmes. Many food products, in particular those with high cultural specificity must be marketed through adopted programmes in other countries where the cultural background is different. 4. Internal environment: The amount of international experience a firm’s management has accumulated will influence their attitudes. An experienced firm is likely to seek a close match between its current offerings and the demand of new country-markets, so that only minimal adaptation of the marketing mix is required. Internationally more experienced managers will have a higher degree of flexibility and acceptance of change that may support more adaptation of marketing programmes. (2.5 marks each) DESCRIPTIVE_QUESTION QUESTION_ID 118135 QUESTION_TEXT Explain the main parties involved in a Bill of Exchange. 1. The Drawer(with explanation 2 marks) 2. The Drawee(with explanation 2 marks) SCHEME OF EVALUATION 3. The Payee(with explanation 2 marks) 4. The endorser(with explanation 2 marks) 5. The Endorsee(with explanation 2 marks)