TYBCOM Export Marketing Important Questions 2022
TYBCOM Export Marketing Important Question of Mumbai University
If you are searching for an Important question about Export marketing I must say you are right place. If you see below the syllabus and Question paper pattern of the Export marketing module wise three questions will be asked from each module and the module is divided into three sections in the form of (a), (b), and (c) see below.
- Features of export marketing
- Importance of export marketing
- Factors influencing export marketing
- The risk involved in export marketing
- Agreement of WTO TRIMs, TRIPs, GATS, AOA
- The positive and negative impacts of economic integration/trading blocs
- Determination/ factors of foreign marketing selection
- The implication of FTP foreign trade policy 2015-20
- Role of DGFT ( directorate general of foreign trade)
- Negative list of Exports
- Benefits to status holders ( MCQ + long answers)
- ASIDE Scheme and IRMAC scheme
- Incentive and scheme for Indian exporters
- Duty drawback
- Export Promotion Council (EPC)
- Indian Institute of foreign trade (IIFT)
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How to write long answers to theory papers:
(1)Start with an introduction (2) draw a diagram or mind mapping of points (3) explain the points (4) conclusions
According to B. S. Rathor “Export marketing includes the management of marketing activities for products which cross the national boundaries of a country”.
“Export marketing means the marketing of goods and services beyond the national boundaries”.
The main important features of export marketing are as follows.
- Systematic process: The systematic process of developing and distributing goods and services in international markets is referred to as export marketing. Market research, product design, branding, packaging, price, and promotion are all responsibilities of the export marketing manager. To carry out the different marketing operations, the export marketing manager must acquire relevant data from reliable sources, properly analyze it, and then make systematic export marketing decisions.
- Export marketing is normally done on a large scale. Exporters can determine the competitive pricing in international marketplaces due to large-scale economies. Exporting small amounts of commodities is costly due to high shipping costs and other regulations.
- Export marketing is dominated by multinational corporations (MNCs) from the United States, Europe, and Japan. They establish global contacts through their network and operate their business efficiently and cost-effectively. They produce high-quality things on a large scale at a reasonable cost.
- Competition: Exporters face three-sided competition in export markets, which includes competition from domestic producers in the importing country, other providers in the exporter’s country, and exporters from competing countries.
- Documentation: There is a variety of documentation needed for export marketing. Exporters must submit a variety of documentation to different authorities, including customs, the port trust, and others. Shipping Bill, Consular Invoice, Certificate of Origin, etc.
- Trading blocs have an impact on export trade, certain nations form trading blocs for mutual gain and economic progress. Important trading blocs such as NAFTA, the European Union, and ASEAN should be well understood by Indian exporters. Non-members face difficulty in trading with members of a trading bloc.
- Customers satisfaction: The customer is at the center of export marketing. Export must identify the customers’ needs and wants and produce accordingly to help the export to plan and develop appropriately. Customer focus will increase sales in international markets and also improve the company’s reputation.
- Market Research: Global market is so competitive, so it is necessary to do market research in the form of market surveys, product surveys, product research, and product creation. International marketing analysis will help to face the different challenges in export marketing, which includes recognizing the needs and wants of international buyers.
- Export marketing helps in the distribution of company risks. Export businesses generally sell their goods in a range of international markets. If they are affected by risks (losses) in one market, they may be able to diversify their company’s risks by investing in higher-returning markets.
- Reputation: Export marketing helps to build a reputation and gives the export company a name and goodwill in the international market. In addition, the country of origin gains a reputation. The export firm’s reputation allows it to control high sales in both the domestic and export markets.