The document outlines the objectives and details of an international marketing management course. The course aims to help students understand major concepts of international marketing like globalization and develop critical skills for effective international marketing strategies. It will cover topics like international market entry decisions, product strategies for different markets, and promotional decisions across borders. The course will provide perspectives on challenges unique to marketing in India and capabilities for handling international marketing management tasks.
The document introduces concepts in global marketing. It discusses how marketing has evolved from a product focus to emphasizing customer value and differentiation. It also outlines three principles of marketing: creating customer value, differentiation, and focus. Additionally, it examines management orientations in global marketing and driving and restraining forces that impact global integration and marketing.
International marketing involves recognizing different needs across global markets and adapting marketing strategies accordingly. While some companies use consistent global branding and products, it is important to understand regional differences. Advances in technology and trade have made international business more accessible, but companies still face challenges like access to financing, policy instability, and cultural differences. The document provides an overview of international marketing concepts and strategies.
This document provides an overview and objectives of a course on global marketing management. It discusses key concepts like the meaning of marketing and global marketing. It explains the strategic concept of marketing has evolved from a product focus to a customer focus to a strategic focus considering external factors. The three principles of marketing are creating customer value, achieving competitive advantage, and concentrating on customer needs. It also discusses the transition from domestic to international to global marketing. Driving forces for international marketing include market needs, technology, and costs pressures to achieve economies of scale globally.
This chapter discusses international marketing and globalization trends. It explains that national markets are becoming more international due to imports and foreign investments. Global sourcing and production sharing has increased, with companies outsourcing parts of their supply chain to other countries. Developing countries are gaining economic power and will account for a larger share of global output in the future. The chapter also outlines different levels of international orientation that companies can take, from domestic to multinational. It analyzes drivers and barriers of globalization as well as participants in the international market.
Aussi-Lifestyle is an Australian luggage and bag company with strong brand loyalty and customer-oriented products. To expand globally, the company plans to use market segmentation and adaptation strategies. For the large Indian market, Aussi-Lifestyle will develop high-quality yet affordable products tailored to Indian customers' basic needs and travel behaviors. The company will also focus on strong branding, product development, pricing frameworks, and ethical business practices in international markets.
International Marketing Management PowerPoint Presentation Slides SlideTeam
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
International Marketing, Trade, Business, Modes of entry, Internal & External, Political, Economic, Legal and Regulatory Environment, Cultural, Demographic, Technological Environment, World Bank, IMF, WTO,
The document outlines the objectives and details of an international marketing management course. The course aims to help students understand major concepts of international marketing like globalization and develop critical skills for effective international marketing strategies. It will cover topics like international market entry decisions, product strategies for different markets, and promotional decisions across borders. The course will provide perspectives on challenges unique to marketing in India and capabilities for handling international marketing management tasks.
The document introduces concepts in global marketing. It discusses how marketing has evolved from a product focus to emphasizing customer value and differentiation. It also outlines three principles of marketing: creating customer value, differentiation, and focus. Additionally, it examines management orientations in global marketing and driving and restraining forces that impact global integration and marketing.
International marketing involves recognizing different needs across global markets and adapting marketing strategies accordingly. While some companies use consistent global branding and products, it is important to understand regional differences. Advances in technology and trade have made international business more accessible, but companies still face challenges like access to financing, policy instability, and cultural differences. The document provides an overview of international marketing concepts and strategies.
This document provides an overview and objectives of a course on global marketing management. It discusses key concepts like the meaning of marketing and global marketing. It explains the strategic concept of marketing has evolved from a product focus to a customer focus to a strategic focus considering external factors. The three principles of marketing are creating customer value, achieving competitive advantage, and concentrating on customer needs. It also discusses the transition from domestic to international to global marketing. Driving forces for international marketing include market needs, technology, and costs pressures to achieve economies of scale globally.
This chapter discusses international marketing and globalization trends. It explains that national markets are becoming more international due to imports and foreign investments. Global sourcing and production sharing has increased, with companies outsourcing parts of their supply chain to other countries. Developing countries are gaining economic power and will account for a larger share of global output in the future. The chapter also outlines different levels of international orientation that companies can take, from domestic to multinational. It analyzes drivers and barriers of globalization as well as participants in the international market.
Aussi-Lifestyle is an Australian luggage and bag company with strong brand loyalty and customer-oriented products. To expand globally, the company plans to use market segmentation and adaptation strategies. For the large Indian market, Aussi-Lifestyle will develop high-quality yet affordable products tailored to Indian customers' basic needs and travel behaviors. The company will also focus on strong branding, product development, pricing frameworks, and ethical business practices in international markets.
International Marketing Management PowerPoint Presentation Slides SlideTeam
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
International Marketing, Trade, Business, Modes of entry, Internal & External, Political, Economic, Legal and Regulatory Environment, Cultural, Demographic, Technological Environment, World Bank, IMF, WTO,
This chapter is an introduction to International marketing. It covers the need for International Marketing, Difference between Domestic and International Marketing, The EPRG frame work, Challenges for International Marketing.
This document provides an overview of international marketing. It defines international marketing as identifying goods and services customers outside the home country want and providing them at the right price and place. Benefits include survival, overseas market growth, sales/profits, and diversification. Factors influencing internationalization include domestic market saturation, trade deficits, foreign competition, and new market opportunities. Market segmentation allows adjusting the marketing mix to meet different market segments based on demographics, geography, culture, and psychology. Companies must decide whether to standardize or adapt their marketing mix across countries. Major international marketing activities include market assessment, entry method selection, and developing an international marketing mix for product, place, promotion, and price.
This document provides an overview of international marketing management. It discusses the significance of global markets and the challenges of designing international marketing strategies. Key points covered include:
- Reasons for international trade include access to products, comparative advantage, and potential demand in foreign markets.
- Factors affecting international trade include technology, consumer preferences, trade barriers, and marketing capability.
- Structures for operating in foreign markets range from low involvement like exporting to high involvement like wholly owned subsidiaries.
- Designing the international marketing mix requires considering market research, product adaptation, pricing strategies, and promotional adaptations for different countries and cultures.
Basecamp International is expanding into Peru with volunteer and hostel programs. Their marketing plan targets students and mid-life adults. Competition includes large global volunteer networks and smaller in-country organizations. Basecamp will advertise through their website and partner organizations while maintaining competitive pricing and service quality. Challenges include Peru's developing economy, corruption and safety issues, which require careful consideration for successful implementation.
This document discusses international marketing and related concepts. It defines international marketing as marketing activities that cross national boundaries. It describes the key elements of international marketing as identifying customer needs in foreign markets and making marketing mix decisions for diverse international customers and markets. It also outlines the characteristics, scope, objectives, reasons for going international, and challenges of international marketing.
Global marketing involves promoting and advertising a company's products internationally to increase sales in foreign markets. There are several benefits to global marketing such as increased profits, broader customer reach, longer product lifecycles, and improved brand reputation. However, companies must take precautions like understanding local customs, laws, currency risks, and competitors when entering new global markets. Common strategies for entering markets include standardized or adapted marketing approaches, extending existing products or developing new customized products, and using methods like direct exports, indirect exports, licensing, joint ventures, or mergers.
The document discusses several key concepts related to culture and international marketing:
- It defines culture and explains that culture consists of learned behaviors and mental programming shared by a group. It influences human behavior.
- It outlines several manifestations of culture including symbols, heroes, rituals, values, and norms.
- There are differences between explicit and implicit culture, and technical, formal, and informal cultural norms.
- Cultural diversity exists both externally in markets and internally in multinational companies.
- Culture can be transferred between generations through socialization or between adults through acculturation.
International advertising and promotionsJo Castillo
The document discusses key considerations for international advertising and promotional decisions. It identifies several factors that influence such decisions, including the economic, political/legal, cultural, and demographic environments in different countries. It also outlines steps in the international advertising process, from organization and agency selection to creative decisions, media selection, and coordination. The goal is to think globally but act locally by standardizing some elements while adapting messages to local conditions.
Controllable and uncontrollable factors of international marketingGurleen Kaur
This document discusses controllable and uncontrollable factors in marketing, with a focus on globalization and the role of multinational corporations (MNCs). It provides examples of political, economic, socio-cultural, technological, and legal uncontrollable environmental factors. It then examines McDonald's controllable marketing mix strategies for the Indian market, including customized products, widespread locations, and varied pricing. Finally, it outlines how globalization has facilitated international trade and the growth of MNCs, providing benefits but also drawbacks to home and host countries.
This chapter introduces the key concepts of global marketing and the different strategic orientations firms can take when expanding internationally. It discusses the development of global marketing from domestic to export to international and multinational strategies. Finally, it addresses the biggest challenge in global marketing as designing marketing strategies that work across multiple country markets while allowing for local adaptation, and the importance of focus, value creation and competitive advantage for global success.
Global segmentation divides markets into segments that cross national borders based on common needs. Regional segmentation groups countries with similar preferences into a segment. Unique segmentation identifies segments within a single country to fully localize for products like news or specialty foods. International market segmentation follows a two-step hierarchy - macro segments of individual or groups of countries are first identified, then micro-segments within each macro segment are defined based on consumer characteristics. This allows targeting of specific sub-markets.
Global marketing - Success, Failures and StrategyOrly Ballesteros
Global marketing - Success, Failures and Strategy. Global Marketing is the ultimate game plan a company aspire to but to navigate it successfully you need to study the landscape of your market.
This document discusses global marketing management and regional market characteristics. It covers different regions around the world like Western Europe, Eastern and Central Europe, North America, Asia-Pacific, Japan, China, India, Latin America, Africa, the Middle East, and transitional/less developed countries. For each region it provides key statistics and insights into their economic profiles, marketing environments, challenges, and opportunities. It also discusses Rogers' diffusion of innovation theory and factors that affect the rate of adoption of new products.
The document discusses the international marketing mix and whether companies should standardize or customize their approach across different markets. It covers the key elements of the marketing mix - product, place, price, and promotion. While standardization can reduce costs, customization may be necessary when consumer tastes and regulations vary significantly between countries. The document provides several examples of companies that have both standardized and customized their marketing mix internationally.
This document provides an overview of international trade and the dynamic global environment. It discusses several topics:
1) The establishment of world trade following WWII and the importance of balance of payments and protectionism.
2) The various types of trade barriers such as tariffs and nontariff barriers used by countries.
3) International organizations that shaped global trade such as GATT and the World Trade Organization, as well as the IMF and World Bank.
This document provides an overview of international marketing management and marketing research. It discusses key concepts such as the definition of international marketing, differences between domestic and international marketing environments, factors that drive international expansion, and levels of international marketing involvement. It also covers topics like the balance of payments, trade barriers, and the scope and process of conducting international marketing research. The document is intended to provide a framework for understanding international marketing management and how marketing research supports decision making in foreign markets.
This document provides an overview of global marketing. It begins with definitions of global marketing and discusses reasons for internationalization such as accessing new markets and increasing competitiveness. It then covers factors that determine entry mode decisions and various entry mode strategies. The document also discusses deciding on the global marketing program and organization. Key topics covered include scanning the global marketing environment, reactive and proactive motives for internationalization, and conducting marketing research in global markets.
This document provides an overview of key concepts in international marketing. It defines international marketing as finding and satisfying global customer needs better than competitors. Companies engage in international marketing to expand sales, acquire resources, diversify sales sources, and minimize risk. Firms can carry out international operations through exports, imports, and foreign investments. Reasons for growth in international marketing include technology expansion, liberalized trade policies, and increased global competition. Challenges include differing political, cultural, and competitive environments across countries. The document also discusses international marketing orientation approaches and factors that influence product planning and decisions in international markets.
This document discusses integrated marketing communications and international advertising. It covers several topics: integrated marketing communications and their components; sales promotions and public relations in global markets; factors that affect global and modified advertising; the communication process and potential misfires; and the effects of regulations on advertising budgets. It also provides exhibits on top global advertisers and spending categories as well as challenges of international advertising like cultural differences, media limitations, and lack of market data.
Unit 3 international marketing and intelligenceVipul Kumar
international marketing and intelligence
International Marketing – Nature, comparison with domestic marketing, benefits from international marketing; Major Activities - Market assessment, An overview of product decisions, promotion, decisions, pricing decisions, distribution decisions and product life cycle in international context. Marketing, Research: Information required, sources of information; International Marketing Information System.
The document provides an overview of the topics covered in four units of an International Marketing course. Unit 1 discusses definitions, theories, reasons for internationalization, and market entry strategies. Unit 2 covers political, legal, and economic factors of the international environment. Unit 3 focuses on India's export and import policies and procedures. Unit 4 addresses international product, pricing, distribution, communication policies and case studies. Reference books are also provided. The document outlines the key concepts and issues to be addressed in each unit of an International Marketing course.
This chapter is an introduction to International marketing. It covers the need for International Marketing, Difference between Domestic and International Marketing, The EPRG frame work, Challenges for International Marketing.
This document provides an overview of international marketing. It defines international marketing as identifying goods and services customers outside the home country want and providing them at the right price and place. Benefits include survival, overseas market growth, sales/profits, and diversification. Factors influencing internationalization include domestic market saturation, trade deficits, foreign competition, and new market opportunities. Market segmentation allows adjusting the marketing mix to meet different market segments based on demographics, geography, culture, and psychology. Companies must decide whether to standardize or adapt their marketing mix across countries. Major international marketing activities include market assessment, entry method selection, and developing an international marketing mix for product, place, promotion, and price.
This document provides an overview of international marketing management. It discusses the significance of global markets and the challenges of designing international marketing strategies. Key points covered include:
- Reasons for international trade include access to products, comparative advantage, and potential demand in foreign markets.
- Factors affecting international trade include technology, consumer preferences, trade barriers, and marketing capability.
- Structures for operating in foreign markets range from low involvement like exporting to high involvement like wholly owned subsidiaries.
- Designing the international marketing mix requires considering market research, product adaptation, pricing strategies, and promotional adaptations for different countries and cultures.
Basecamp International is expanding into Peru with volunteer and hostel programs. Their marketing plan targets students and mid-life adults. Competition includes large global volunteer networks and smaller in-country organizations. Basecamp will advertise through their website and partner organizations while maintaining competitive pricing and service quality. Challenges include Peru's developing economy, corruption and safety issues, which require careful consideration for successful implementation.
This document discusses international marketing and related concepts. It defines international marketing as marketing activities that cross national boundaries. It describes the key elements of international marketing as identifying customer needs in foreign markets and making marketing mix decisions for diverse international customers and markets. It also outlines the characteristics, scope, objectives, reasons for going international, and challenges of international marketing.
Global marketing involves promoting and advertising a company's products internationally to increase sales in foreign markets. There are several benefits to global marketing such as increased profits, broader customer reach, longer product lifecycles, and improved brand reputation. However, companies must take precautions like understanding local customs, laws, currency risks, and competitors when entering new global markets. Common strategies for entering markets include standardized or adapted marketing approaches, extending existing products or developing new customized products, and using methods like direct exports, indirect exports, licensing, joint ventures, or mergers.
The document discusses several key concepts related to culture and international marketing:
- It defines culture and explains that culture consists of learned behaviors and mental programming shared by a group. It influences human behavior.
- It outlines several manifestations of culture including symbols, heroes, rituals, values, and norms.
- There are differences between explicit and implicit culture, and technical, formal, and informal cultural norms.
- Cultural diversity exists both externally in markets and internally in multinational companies.
- Culture can be transferred between generations through socialization or between adults through acculturation.
International advertising and promotionsJo Castillo
The document discusses key considerations for international advertising and promotional decisions. It identifies several factors that influence such decisions, including the economic, political/legal, cultural, and demographic environments in different countries. It also outlines steps in the international advertising process, from organization and agency selection to creative decisions, media selection, and coordination. The goal is to think globally but act locally by standardizing some elements while adapting messages to local conditions.
Controllable and uncontrollable factors of international marketingGurleen Kaur
This document discusses controllable and uncontrollable factors in marketing, with a focus on globalization and the role of multinational corporations (MNCs). It provides examples of political, economic, socio-cultural, technological, and legal uncontrollable environmental factors. It then examines McDonald's controllable marketing mix strategies for the Indian market, including customized products, widespread locations, and varied pricing. Finally, it outlines how globalization has facilitated international trade and the growth of MNCs, providing benefits but also drawbacks to home and host countries.
This chapter introduces the key concepts of global marketing and the different strategic orientations firms can take when expanding internationally. It discusses the development of global marketing from domestic to export to international and multinational strategies. Finally, it addresses the biggest challenge in global marketing as designing marketing strategies that work across multiple country markets while allowing for local adaptation, and the importance of focus, value creation and competitive advantage for global success.
Global segmentation divides markets into segments that cross national borders based on common needs. Regional segmentation groups countries with similar preferences into a segment. Unique segmentation identifies segments within a single country to fully localize for products like news or specialty foods. International market segmentation follows a two-step hierarchy - macro segments of individual or groups of countries are first identified, then micro-segments within each macro segment are defined based on consumer characteristics. This allows targeting of specific sub-markets.
Global marketing - Success, Failures and StrategyOrly Ballesteros
Global marketing - Success, Failures and Strategy. Global Marketing is the ultimate game plan a company aspire to but to navigate it successfully you need to study the landscape of your market.
This document discusses global marketing management and regional market characteristics. It covers different regions around the world like Western Europe, Eastern and Central Europe, North America, Asia-Pacific, Japan, China, India, Latin America, Africa, the Middle East, and transitional/less developed countries. For each region it provides key statistics and insights into their economic profiles, marketing environments, challenges, and opportunities. It also discusses Rogers' diffusion of innovation theory and factors that affect the rate of adoption of new products.
The document discusses the international marketing mix and whether companies should standardize or customize their approach across different markets. It covers the key elements of the marketing mix - product, place, price, and promotion. While standardization can reduce costs, customization may be necessary when consumer tastes and regulations vary significantly between countries. The document provides several examples of companies that have both standardized and customized their marketing mix internationally.
This document provides an overview of international trade and the dynamic global environment. It discusses several topics:
1) The establishment of world trade following WWII and the importance of balance of payments and protectionism.
2) The various types of trade barriers such as tariffs and nontariff barriers used by countries.
3) International organizations that shaped global trade such as GATT and the World Trade Organization, as well as the IMF and World Bank.
This document provides an overview of international marketing management and marketing research. It discusses key concepts such as the definition of international marketing, differences between domestic and international marketing environments, factors that drive international expansion, and levels of international marketing involvement. It also covers topics like the balance of payments, trade barriers, and the scope and process of conducting international marketing research. The document is intended to provide a framework for understanding international marketing management and how marketing research supports decision making in foreign markets.
This document provides an overview of global marketing. It begins with definitions of global marketing and discusses reasons for internationalization such as accessing new markets and increasing competitiveness. It then covers factors that determine entry mode decisions and various entry mode strategies. The document also discusses deciding on the global marketing program and organization. Key topics covered include scanning the global marketing environment, reactive and proactive motives for internationalization, and conducting marketing research in global markets.
This document provides an overview of key concepts in international marketing. It defines international marketing as finding and satisfying global customer needs better than competitors. Companies engage in international marketing to expand sales, acquire resources, diversify sales sources, and minimize risk. Firms can carry out international operations through exports, imports, and foreign investments. Reasons for growth in international marketing include technology expansion, liberalized trade policies, and increased global competition. Challenges include differing political, cultural, and competitive environments across countries. The document also discusses international marketing orientation approaches and factors that influence product planning and decisions in international markets.
This document discusses integrated marketing communications and international advertising. It covers several topics: integrated marketing communications and their components; sales promotions and public relations in global markets; factors that affect global and modified advertising; the communication process and potential misfires; and the effects of regulations on advertising budgets. It also provides exhibits on top global advertisers and spending categories as well as challenges of international advertising like cultural differences, media limitations, and lack of market data.
Unit 3 international marketing and intelligenceVipul Kumar
international marketing and intelligence
International Marketing – Nature, comparison with domestic marketing, benefits from international marketing; Major Activities - Market assessment, An overview of product decisions, promotion, decisions, pricing decisions, distribution decisions and product life cycle in international context. Marketing, Research: Information required, sources of information; International Marketing Information System.
The document provides an overview of the topics covered in four units of an International Marketing course. Unit 1 discusses definitions, theories, reasons for internationalization, and market entry strategies. Unit 2 covers political, legal, and economic factors of the international environment. Unit 3 focuses on India's export and import policies and procedures. Unit 4 addresses international product, pricing, distribution, communication policies and case studies. Reference books are also provided. The document outlines the key concepts and issues to be addressed in each unit of an International Marketing course.
The document discusses various strategies for international marketing operations and foreign market selection. It outlines four broad orientations - ethnocentric, regiocentric, geocentric, and polycentric - that determine a firm's level of involvement and control over foreign marketing activities. When selecting foreign markets, firms determine objectives, collect market information, analyze data, create shortlists, conduct in-depth research, and select markets that offer the best long-term potential. Positioning involves strategically developing a unique and advantageous position for a brand in the minds of consumers.
This document provides an introduction to international marketing. It discusses that international marketing is similar to domestic marketing in terms of technical attributes but differs in social aspects due to differences in customer behavior and societal characteristics between countries. It then defines international marketing according to several experts and discusses the nature, characteristics, benefits, and challenges of international marketing. Finally, it briefly introduces the organizational structure of international marketing.
This document discusses various aspects of international marketing, including differences from domestic marketing. It covers reasons for firms to engage in international business, such as market saturation or trade deficits domestically. Multinational corporations play a key role through foreign direct investment and operations in other countries. Common entry strategies include exporting, contractual agreements, joint ventures, and manufacturing subsidiaries abroad.
International marketing refers to marketing activities carried out across national borders. It involves applying the same marketing principles used domestically but on a global scale. International marketing is more complex than domestic marketing due to differing legal, cultural, political, and economic factors between countries. The key functions of international marketing include choosing market entry strategies, selecting target markets and products, and developing appropriate pricing, distribution, and communications strategies for foreign audiences.
This document provides an overview of key marketing concepts and factors affecting market decisions. It discusses definitions of market and marketing, outlines the marketing process, and explores factors like understanding customer needs that contributed to Renault Duster's success in India. The document also covers Nokia's failure to understand changing customer tastes. It identifies internal factors like company departments and external factors like demographic, economic, technological, political and cultural forces that influence marketing environment and decisions.
1. Globalization and International BusinessBhatt83
This document provides an overview of key concepts related to international business and globalization. It discusses what globalization and international business are, including the different formats that international business can take. It also outlines several key drivers of globalization, including technological, political, market, cost, and competitive drivers. Several frameworks for international management orientations are introduced, including the EPRG framework. Common reasons for why companies engage in international business are presented. The document concludes by discussing some of the main differences between international business and domestic business.
International marketing involves the exchange of goods and services across national borders. It refers to planning, pricing, promoting, and distributing a company's products internationally. The key aspects of international marketing are that it occurs across national boundaries, involves all marketing functions, and facilitates the flow of goods and services between countries. The overall goal of international marketing is to bring countries closer through trade to encourage globalization and economic development.
This document provides an overview of key marketing concepts and factors affecting market decisions. It discusses what a market is, today's market scenario, and defines marketing as identifying, satisfying, and retaining customers. The marketing process and what smart companies do is explained. Factors influencing market decisions include internal environment forces within a company and its suppliers, customers, and competitors, as well as external environment forces such as demographic, economic, technological, political, natural, and cultural factors beyond a company's control.
the article I have written is all about the International Marketing. In this article Innovations are made in International Marketing are described. This article is also published by National Conference Magazine named as Innovative Practices in Business Management and Information Technology in New Millennium which ISBN no is 978-93-83587-12-4.
This document discusses the role of promotional mix elements in international marketing. It addresses four main elements: product, promotion, price, and place. For each element, it notes that companies must consider adapting their strategy to local needs and conditions versus standardizing globally. For product, it gives examples of how McDonald's and Coca-Cola adapt offerings in different countries. For promotion, it emphasizes adapting messages and strategies to local cultures, languages, and media environments. Pricing requires considering transportation costs, tariffs, exchange rates, and local incomes. Distribution or 'place' involves understanding different local distribution chains and partners in overseas markets. The document also provides brief definitions of sales promotion, public relations, and digital media as promotional mix tools
This document discusses factors to consider for international advertising and promotion. It provides an overview of reasons for international importance including stagnating domestic markets, growth opportunities, and economic necessity. It also outlines various environmental factors like economic, demographic, cultural, and political/legal that influence international marketing and promotional decisions. Finally, it discusses considerations for decisions areas in international advertising such as organization style, creative strategy, agency selection, research, and media strategy.
Impact of Marketing Strategy on Business Performance A Study of Selected Smal...IOSR Journals
This research paper investigates the impact of marketing strategy on business performance with special reference to the selected SMEs in Oluyole local government area Ibadan, Nigeria. The survey research design method was used in this study which involves using a self-design questionnaire in collecting data from one hundred and three (103) respondents. The instrument used in this study is a close-ended questionnaire that was designed by the researchers. Correlation coefficient and multiple regression analysis were used to analyze the data with the aid of statistical package for social sciences (SPSS) version 20. The results show that the independent variables (i.e Product, Promotion, Place, Price, Packaging and After sales service) were significant joint predictors of business performance in term of profitability, market share, return on investment, and expansion.(F(6, 97) = 14.040; R2 = 0.465; P< .05). The independent variables jointly explained 46.5% of variance in business performance. Subsequently, recommendation were made to SMEs operators to produce quality products; charge competitive prices, position appropriately, use attractive package for the product, engage in after sales service and provide other distinctive functional benefits to consumers.
This document provides an overview of international marketing. It begins by defining international marketing as marketing across national boundaries to satisfy human needs and wants. It discusses reasons why companies become involved in international markets, including to increase profits through economies of scale. It then describes major actors in international marketing, such as multinational corporations, exporters, and importers. The document outlines how the scope of international marketing has broadened to include industries like retail, services, and advertising. Finally, it discusses challenges in international marketing, including differences in market characteristics, cultural factors, political conditions, and industry conditions between countries. Adaptation may be needed to address these differences.
Over view of internationa lmarketing SIDDANNA M BALAPGOLSiddanna Balapgol
This document provides an overview of international marketing. It defines international marketing and discusses the major reasons companies become involved in international markets. It also describes the major actors in international marketing, including multinational corporations, exporters, importers, and service companies. Additionally, it covers the scope of international marketing and some of the challenges companies face, such as differences in market characteristics, cultural factors, political conditions, industry standards, marketing institutions, legal restrictions, and trade barriers across countries.
International promotion strategies consider both global and local promotion approaches. The type of promotion used depends on the distribution systems in foreign markets. A company's country brand image and consumer habits in foreign cultures are also important factors to consider. Common mistakes in international promotion include losing sight of objectives, inappropriate targeting of audiences, and failing to deliver promised benefits. Case studies show how companies like IKEA and Under Armour have adapted their promotion strategies when expanding into new international markets like China.
The document discusses various aspects of international marketing. It begins by defining international marketing as planning and conducting transactions across national borders to create exchanges that satisfy objectives. It then discusses reasons for companies to pursue global marketing such as growth and survival. The document outlines key international marketing decisions around whether, where, and how to enter foreign markets. It also discusses strategies like standardized vs adapted marketing mixes and creating international divisions or subsidiaries. Finally, it covers cultural considerations and examples of companies adapting their marketing approaches for different countries and regions.
This document discusses international marketing and provides definitions and explanations of key concepts. It defines international marketing as business activities that direct the flow of goods and services to consumers in more than one nation for profit (paragraph 1). It involves identifying foreign markets, selecting entry modes, and developing marketing strategies to compete abroad (paragraph 2). The document also discusses the differences between international and domestic marketing, with international marketing requiring consideration of various cultural, legal and economic differences across countries (paragraphs 7-8).
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An appraisal of marketing strategies of the multinational companies in nigeria
1. European Journal of Business and Management www.iiste.org
ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online)
Vol.6, No.22, 2014
18
An Appraisal of Marketing Strategies of the Multinational
Companies in Nigeria
Okokon Attih1
,David Adams Ph.D2
1.Faculty of Social and Management Sciences, Akwa Ibom State University, P. M. B 1167, Uyo Obio Akpa
Campus, Oruk Anam L. G. A., Akwa Ibom State, Nigeria
2.Faculty of Social Sciences University of Uyo, Uyo, Akwa Ibom State, Nigeria
Obattih2013@yahoo.com
Abstract
The purpose of this paper was to examine and identify the marketing strategies adopting by multinational
companies operating in Nigeria. The descriptive and inferential research designs was used for the study with the
finding that multinational companies operating in Nigeria embraces the adaptation marketing strategy by
adjusting its marketing elements of product, price, promotion and place for the market in order to meet the local
preferences and competitions. Recommendations made include the following: multinational companies operating
in Nigeria should embark on test marketing of products to identify consumers’ preference before any adaptation
strategy is adopted, multinational companies should embrace societal marketing policy and educate the
consumers in Nigeria on usage and safety of their products while pursuing corporate profit and government
should ensure that control mechanism and regulations are put in place to monitor the operations of the
multinational companies operation in Nigeria etc.
Keywords: Marketing strategies, multinational companies, Nigeria.
1. Introduction
Today, as a result of widespread international business activities, thousands of Multinational Corporation exist,
Multinational marketing is a complex form of international marketing in which a firm engages in marketing
efforts in many foreign nations. Multinational firms include Unilever, Shell, Exxon Mobil, Coca Cola, 7Up,
Sony etc.
The purpose of this study is to find out the marketing strategies adopted by the multinational companies in
Nigeria. Multinational companies are typically extremely large corporations, but not all large firms involved in
global business could literary be exporting and still not be a multinational corporation.
According to Daniels & Raderaugh (1989) as most international business operations involves abroad, marketing
strategies and decisions are consequently made within environment less familiar than the home front. Lack of
familiarity often leads to many available alternatives marketing strategies to the foreign market scene as well as
to assumptions predicated upon home operations not necessarily applicable abroad. However, the responsibility
of the multinational companies adopting marketing strategies in order to achieve its corporate objectives is very
crucial. Product is very important marketing mix element upon which other factors revolve. Viewed especially
from the multinational business perspective, product is one of the marketing components which absolute care
must be taken in arriving at a strategic option by management often the battle line is always drawn between
product standardization and adaptation strategies, either to a large or limited extent, worldwide (Okwandu 2003).
2. Conceptualizing Marketing Strategies and Multinational Companies
Marketing strategies and multinational companies as concepts have different definitions as put forward by
various authors and scholars of management sciences.
From the view point of marketing organizations Evans & Berman (1995) described marketing strategy as a plan
designed to influence exchanges to achieve organizational objectives.
Kotler & Armstrong (1996) viewed marketing strategy as the marketing logic by which the business unit hopes
to achieve its marketing objectives. It consists of specific strategies for target markets, positioning the marketing
mix, and marketing expenditure levels.
Aren (2004) describes marketing strategy as how the company plans to meet its marketing objectives. He pointed
out that a company’s marketing strategy has a dramatic impact on the organization’s overall attainment.
McCarthy & Perreault (1991) in their contribution see marketing strategy as a concept that specifies a target
market and related marketing mix. It is a “big picture” of what a firm does in some markets to achieve a success.
Onuoha (1991) defines multinational companies as companies that have subsidiaries and sales facilities
throughout the world. They are also considered to be companies having production and marketing facilities in
many countries depending on foreign income and being with a worldwide point of view.
Nickels et al (2002) viewed multinational company as an organization that manufactures and markets products in
many different countries; it has multinational stock – ownership and multinational management. They further
said that, the more nations in which a company operates, the more it attempts to avoid restriction from various
2. European Journal of Business and Management www.iiste.org
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governments.
Paliwoda (1988) describes multinational company as a corporation which owns (in whole or in part) controls and
manages income generating assets in more than a country. In so doing, it engages in international production,
sales and distribution of goods and services across boundaries financed by foreign direct investment.
However, the major business areas of multinational companies operating in Nigeria includes the following;
manufacturing of capital, intermediate and consumer goods, petroleum textile, banking, insurance,
transportation, management consultancy, and other technology based industries (Onuoha, 1991).
This study was therefore initiated to appraise the international marketing strategies adopting by some
multinational companies operating in Nigeria with the view to provide a basis for analysis and recommendations.
3. The Study location
Federal Republic of Nigeria is generally regarded as the giant nation of Africa, considering its size, population
over 140 million (NPC, 2006) and natural resources. Lying entirely within the tropics almost at the eastern end
of the West African littoral between latitudes 40
and 140
north of the Equator, and between longitudes 30
and 150
east of the Greenwich Meridian, Nigeria is bounded on the three sides by Francophone Africa – the Republic of
Cameroon on the east, the Republic of Benin on the west, and the Niger Republic on the north. To the south is
the Gulf of Guinea which forms the southern boundary of the country.
The total land area of Nigeria is 923,773 square kilometers, an area that is almost double the size of France and
more than triple that of the United Kingdom. This area ranks Nigeria thirteenth in size among all African
countries. The major rivers of Nigeria are the Niger, from which the country derives its name, and its tributary,
the Benue, which jointly divide the country into three unequal parts. Other important rivers of Nigeria are
Anambra, Cross, Congola, Imo, Ogun, Taraba and Sokoto rivers.
Physically, Nigeria is a land of great geographical contrasts. The swamp forests of the coastal belt, the high
forests of the middle south, and the savanna belts of the north represent the broad vegetation zones into which
the country is divided (Etuk, 2009).
5. Formulation of International Marketing Strategies
In formulating international marketing strategies, the following marketing mix elements strategy – product, price
promotion and place should be taken into consideration and ensure effective manipulation for a success in the
international market place.
5.1 Product Strategy
In international markets, product strategy will vary depending on the specific goods and the customers. The
product is very important and most crucial element in market because the purposes of marketing is to identify the
needs and wants of the target markets and produce products or render service to satisfy them. Based on this
Busch & Houston (1985) defined products as anything capable of satisfying a consumer need and want. Kotler
(1980) also defined a product as anything that can be offered to a market for attention, acquisition or
consumption. It includes physical goods, services, ideas, persons or places and organizations. In international
markets, some products can be sold in all countries without any modifications but some products and their
marketing strategy are required to be changed according to specific requirements of the market.
5.2 Price Strategy
In international markets, price will always vary from market to market. Price is a key marketing mix element and
it is a major competitive weapon in the market place (Attih, 2013). Therefore, Multinational Companies price
their product depends upon many limiting factors such as government regulations, price escalating factors, legal
forces etc. For example in some countries government fix the maximum and minimum selling price of a product.
For the purpose of this, price is described as the money paid in exchange for a product (good or services) (Attih,
2013).
5.3 Promotion Strategy
In international markets, promotion campaign can be standardized or adapted. Promotion is the process of
stimulating demand to company’s goods and services. Multinational companies promote their goods and services
in different countries through advertising, personal selling, sales promotion, publicity and public relations.
Depending upon the product and customers, multinational company use standardized promotion for image
purposes. The challenge is to get all the international properties to participate in the production programmes
which will promote a strong branch image worldwide.
There are also reasons for using non-standardized promotion. Many countries have distinctions that are not
addressed through single promotion campaign. These differences include customs, language, the meaning of
colours and symbols and illiteracy rate (Schiffman & kanuk 1988)
5.4 Place Strategy
In marketing, the location of any business is very important because it contributes immensely to the
achievement of the marketing objectives. Therefore, all necessary environmental factors must be taken into
3. European Journal of Business and Management www.iiste.org
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20
consideration before embark upon the international marketing, (Attih, 2013).
Multinational companies should always sell their products at a place that is most convenient for the customers’
patronage. Organizations should choose distribution channels according to the affordability and convenience of
the customers in the host country.
Table 1: Some Multinational Companies in Nigeria
s/n Name of Multinational Companies
1 Nestle
2 Glaxo Plc
3 Smith kine
4 S. C Johnson
5 Guarantee Trust Bank
6 Turner Wright
7 Uni-Lever
8 Total finaElf
9 Cadbury Plc
10 May and Baker
11 Pfizer Limited
12 Chevron
13 Exxon Mobil
14 Oando Oil
15 Conoil
16 Accenture
17 Ericson
18 Sony
19 Philip
20 L.G
21 Shell
22 Price Water House
23 Procter and Gamble
24 Globacom
25 Global Fleet Oil and Gas
26 MTN
27 Nokia
28 Guinness Plc
29 Beecham Plc
30 Heinemann Educational Book Ltd
31 U.A.C Plc
32 Elf Nig. Ltd
33 Dunlop Industries Plc
34 Agip Nig. Ltd
35 Air France
36 British Airways
37 IBTC – Stanbic Plc
38 7Up Plc
39 Coca – Cola
40 Texaco Nigeria Limited
Source: Onuoha (1991)
www.nairaland.com
6. Types of International Marketing Strategies
In international markets, two marketing strategies are available, adaptation and standardization.
6.1 Adaptation Marketing Strategy of Multinational Companies
Multinational Companies may embark upon marketing mix adaptation (modification) generally on the basis of
two considerations. Modification may either be mandatory or a result of other factors inherent in the market
(Paliwoda 1997).
According to him, mandatory product adaptation (modification) may arise as a result of the following:
4. European Journal of Business and Management www.iiste.org
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Vol.6, No.22, 2014
21
• Legal requirement
• Tariffs
• Climate
• Taxation
• Technical requirements
• Nationalism
Other factors influencing adaptation include:
• Customer tastes
• Low personal disposal income
• Poor maintenance standards may necessitate product change etc.
6.2 Standardization Marketing Strategy of Multinational Companies
International Companies can think of standardizing its marketing programmes across every country. That is
using the same product, the same price, the same promotion and the same distribution channel in every country it
operates. It involves not altering any of the marketing mix elements in their host countries.
In the case of the international marketing, adopting the standardized marketing strategy is very rare in practice.
However, standardization is most successful when the countries are alike specifically in culture but where there
are cultural differences among nations, then adaptation is the best international markets marketing strategy.
7. Discussion of Findings
The multinational companies operating in Nigeria in order to satisfy the needs and preferences of the host
country embraces the adaptation marketing strategy. The adaptation marketing strategy adopting by the
multinational companies in Nigeria is based on the effective manipulation of the marketing mix elements of
product, price, production and place to success in the international market place.
It is observed through the study that the major reasons while multinational companies in Nigeria adopting the
adaptation marketing strategies are because of the economics and cultural differences among the nations. For
example, cars sold among nations especially in less developed countries typically lack many of the features
found in the west.
However, based on the study, the multinational companies operating in Nigeria are affected with some problems
which includes, poor infrastructure facilities in some areas in the country, high cost of operation, inadequate
specialize manpower, stiff government regulations, high tariffs, customers preferences, lack/high cost of raw
materials in the host country, stiff competition with companies in the host country etc.
8. Conclusion
Marketing strategies adopting by the multinational companies in Nigeria is based on the organizations’ pre
determined corporate objective of satisfying the needs of the host country.
The study revealed that multinational companies operating in Nigeria mostly embracing the adaptation
marketing strategy by adjusting its marketing mix elements of product, promotion, price and place for foreign
markets. This is to meet the local preferences and competitions.
9. Recommendations
Based on findings from the study, the following recommendations are made:
• Multinational Companies operating in Nigeria should embark on test marketing of products to identify
consumers’ preference before any adaptation marketing strategy is adopted.
• Government should provide enabling environment to the multinational companies in Nigeria to ensure
smooth operation of their businesses.
• Government should make provision for tax holiday to the multinational companies operating in Nigeria
to attract their presence.
• Government should ensure effective control mechanism and regulations are put in place to monitor the
operation of the multinational companies in Nigeria.
• Multinational companies operating in Nigeria should embark on massive training of the available
manpower in the host country to overcome the problem of inadequate specialized manpower.
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Historical Research Letter HRL@iiste.org
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