Bmgt 205 chapter_8

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Bmgt 205 chapter_8

  1. 1. BMGT 205: PRINCIPLES OF MARKETING Chapter 8: Global Marketing
  2. 2. LO1 Describe the components of a country market assessment. LO2 Understand the marketing opportunities in BRIC countries. LO3 LO4 Identify the various market entry strategies. Highlight the similarities and differences between a domestic marketing strategy and a global marketing strategy. GLOBAL MARKETING Learning Objectives
  3. 3. Some Global Marketing Mistakes
  4. 4. HTTP://WWW.YOUTUBE.COM/WATCH? V=6OGUZTKO8N0
  5. 5. Transportation Channels Communication Commerce General economic environment Market size and population growth Real income Infrastructure and technology Economic analysis using metrics ! Power distance Uncertainty avoidance Individualism Masculinity Time orientation Sociocultural analysis Government actions Assessing Global Markets ! ! Tariff Quota Exchange control Trade agreement
  6. 6. Gross domestic product Gross national income Human development index Purchasing power parity 1. ECONOMIC ANALYSIS
 GENERAL ECONOMIC ENVIRONMENT
  7. 7. 1. Economic Analysis Evaluating Market Size 
 and Population Growth Rate • 36% of the worlds population lives in China and India • What would be better: a 3% market share in the US or a 1% market share in India?
  8. 8. 1. Economic Analysis Evaluating Real Income • Firms can make adjustments to an existing product or change the price to meet the unique needs of a particular country market.
  9. 9. Transportation Distribution Channel Communication Commerce 2. ANALYZING INFRASTRUCTURE 
 AND TECHNOLOGICAL CAPABILITIES
  10. 10. Government actions Quota Exchange control Trade agreement Tariff 3. ANALYZING GOVERNMENT ACTIONS
  11. 11. Individualism Uncertainty avoidance Power distance Masculinity Culture Time orientation 4. ANALYZING SOCIOCULTURAL FACTORS
  12. 12. Chapter Check In 1. 2. 3. 4. What are key metrics that can help analyze the economic environment of a country? What types of government actions should we be concerned about as we evaluate a country? What are five important cultural dimensions? Why are each of the BRIC countries viewed as potential candidates for global expansion?
  13. 13. Choosing a Global Entry Strategy Direct Investment Joint Venture Control Strategic Alliance Franchising Export Risk
  14. 14. Choosing a Global Marketing Strategy: Target Market (STP) Cultural nuances Subcultures View of product and consumer role Different positioning Adaptation Single positioning strategy
  15. 15. The Global Marketing Mix: 
 Product or Service Strategies Sell the same product or service in both the home country market and host country Sell a product or service similar to that sold in home country but include minor adaptations Sell totally new products or services
  16. 16. Global Marketing Mix: 
 Pricing Strategies Anti-dumping Policies Economic Conditions Quotas Tariffs Price Competitive factors
  17. 17. Global Marketing Mix: Global Communication Strategies Literacy levels vary by country Firms choose whether to adapt to language differences Cultural and religious differences also matter
  18. 18. Chapter Check In 1. 2. What are the components of a global marketing strategy? What are the three global product strategies?
  19. 19. Global Marketing Mix: 
 Global Distribution Strategies • Some global channels are very long and complex. • Consumer shop local small local stores. • Suppliers must be creative in delivering to these outlets.
  20. 20. Key Terms • A boycott pertains to a group’s refusal to deal commercially with some organization to protest against its policies. • Cultural imperialism is the belief that one’s own culture is superior to that of other nations. • Exchange control refers to the regulation of a country’s currency exchange rate, the measure of how much one currency is worth in relation to another.
  21. 21. Key Terms • The purpose of the General Agreement on Tariffs and Trade (GATT) was to lower trade barriers such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders. • Infrastructure is the basic facilities, services, and installations needed for a community or society to function.
  22. 22. Key Terms • A quota designates the maximum quantity of a product that may be brought into a country during a specified time period. • A tariff is a tax levied on a good imported into a country. • A trade agreement is an intergovernmental agreement designed to manage and promote trade activities for a specific region.

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