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International marketing
 

International marketing

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    International marketing International marketing Presentation Transcript

    • Introduction to International Marketing Presentor - Neeraj Bali
      • The Basics
        • Basics of marketing
          • Segmentation, Targeting and Positioning
          • Marketing Mix with reference to International marketing.
        • Definition of international marketing
        • Difference between international trade and international marketing.
        • Difference between Marketing and Sales
    • MEANING OF INTERNATIONAL MARKETING
      • “ The marketing of goods and services across national frontiers,could also be Marketing in an internationally competitive environment , no matter whether the market is home or foreign”
      • Example-Nirma has competition with P&G,unilever etc in India.
    • INTERNATIONAL ORIENTATION
      • Ethnocentrism(home country orientation)
      • Example- Surplus food grains are exported.
      • Polycentrism(host country orientation)
      • Example- Mc donald has launched burgers with indian flavors.
      • Regiocentrism(regional orientation)
      • Example- sarees-kanchipuram silk saree.
      • Geocentrism(world orientation)
    • Basic concepts-
      • Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
    • The Complete Process Market Segmentation Identify and describe market segments Market Targeting Evaluate segments and decide which to go after Market Positioning Design a product or service to meet a segment’s needs and develop a marketing mix that will create a competitive advantage in the minds of the selected target market
    • Market Segmentation
      • Identifying distinct groups of c onsumers whose purchasing behavior differs from other in important ways.
      • Marketing mix adjusted to reflect differing purchasing patterns in segments.
        • Geography
        • Demographics
        • Socio-cultural factors
        • Psychological factors
    • Market Targeting and Positioning
      • Marketers TARGETS the attractiveness of each potential segment and decide which of these groups they will try to turn into customers
        • Mass
        • Differentiated
        • Concentrated
        • Custom
      • Developing a marketing strategy aimed at influencing how a particular market segment perceives a product or service in comparison to the competition
        • 4 common positioning errors
          • Underpositioning: lack of differentiation
          • Overpositioning: too narrow
          • Confused: too many things to too many people
          • Doubtful: consumer just doesn’t believe it
    • Marketing Mix
    • Product Price Place Promotion Consumers Marketing Mix
    • Marketing Mix: Product
    • Product Attributes
      • A product is a bundle of attributes. If consumer needs were the same all over, a firm could simply sell the same product worldwide. Unfortunately, differences in the three following areas often necessitate adaptations
        • Cultural differences
        • Economic differences
        • Product and technical standards
    • Cultural Differences
      • Range of dimensions:
        • Social structure
        • Language
        • Religion
        • Education
      • Most important - the impact of tradition
    • Economic Differences
      • Consumer behavior is influenced by economic development
        • Consumers in highly developed countries tend to have extra performance attributes in their products
        • Consumers in less developed countries tend not to demand these extra performance attributes
      • Government standards can prevent the introduction of global products
      • Different technical standards impede global markets, as well
        • Come from idiosyncratic decisions made long ago
      Product and Technical Standards
    • Marketing Mix: Place
    • Distribution Strategy
      • Three different distribution systems:
        • Retail concentration: number of retailers
          • Cost/benefit of each alternative vary from country to country
        • Channel length: levels of channel members
          • Longer the channel in a country, the higher the price
          • Shorter channel in a country, lower price
        • Channel exclusivity: access
          • Match to positioning of product in country
    • A Typical Distribution System Manufacturer Inside the Country Manufacturer Outside the Country Import Agent Wholesale Distributor Retail Distributor Final Customer
    • Marketing Mix: Price
    • Pricing Strategy
      • Price discrimination
      • Strategic pricing
      • Regulatory factors
    • Pricing Strategy
      • Price discrimination: Different prices, different countries, same product
        • Charging what the market will bear
        • Two factors:
          • Must keep national markets separate
          • Different price elasticities
      • Arbitrage: Charging different prices in different countries for same product
        • Doesn’t always work
        • Sometimes it does
      • Income level and competitive conditions determine elasticity
        • Elasticity (price) tends to be be greater in countries with low income levels
        • Elasticity (demand) tends to be greater in countries where there are many competitors
    • Strategic Pricing
      • Predatory pricing:
        • Using price as a competitive weapon
      • Multipoint pricing strategy:
        • When two or more international firms compete against each other in two or more national markets
        • A firm’s pricing strategy in one market may impact a rival in another market
    • Regulatory Influences on Prices
      • Antidumping regulations:
        • Selling a product for a price that is less than the cost of producing it
          • Predatory pricing pricing may violate regulations
      • Competition Policy:
        • Promote competition
        • Restrict monopoly practices
        • Can limit the prices a company can charge in a given country
    • Marketing Mix: Promotion
    • Communications Strategy
      • Effectiveness of international communications can be impacted by:
        • Cultural barriers
          • Need to develop cross-cultural literacy
    • Communications Strategy
      • Effectiveness of international communications can be impacted by:
      • Self reference criterion
      • Example-P&G in Japan.
        • Cultural barriers
          • Need to develop cross-cultural literacy
        • Source and country of origin effects
          • Receiver of the message evaluates it based upon the status of the sender
        • Country of origin effects:
          • Emphasize/de-emphasize foreign origin
    • Communications Strategy
      • Effectiveness of international communications can be impacted by:
        • Cultural barriers.
          • Need to develop cross-cultural literacy
        • Source and country of origin effects
          • Receiver of the message evaluates it based upon the status of the sender
        • Country of origin effects:
          • Emphasize/de-emphasize foreign origin
        • Noise levels
          • Tends to reduce the effectiveness of a message
          • Developed countries - high
          • Less developed countries - low
        • Push versus Pull:
          • Push emphasizes personal selling
          • Pull depends on mass media advertising
      • ANY QUESTIONS?