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 firms must consider both global and local competitors when developing strategies. Competitors can be addressed through cross-country subsidization, counterattacking in other markets, or globally coordinated new products. Local firms can compete effectively against large multinationals through defender, extender, or contender strategies. Understanding competitors is difficult when they operate across different countries and cultures with varying competitive environments.
This PPT is designed with the objective of giving insights into marketing elements (Product, Price, Place & Promotion) in International Marketing, entry modes, and other related topics.
The other major topics discussed are mentioned below. This PPT is designed with simple words for the benefit of UG and PG students
International Marketing-Motives, Characteristic and advantages, Transitional stages in international Marketing,Management orientation in International Marketing
Global Marketing Information System, International Marketing research, International Marketing Entry Stages
Product Decisions, New Product Development, Geographic Expansions, Strategic Alternatives
International pricing Objectives and strategies, Transfer pricing, International Marketing Channel, Channel Terminology, Physical Distribution and Logistics, Global Advertising and Branding, Public Relation, Personel Selling, Sales Promotion , Direct Marketing, Trade Shows and Exhibitions
egional economic integration
,
levels of economic integration
,
free trade area b) customs union c) common marke
,
the political case for regional integration
,
the economic case for regional integration
,
mercosur
,
regional economic integration in europe
,
evolution of the european union
,
impediments to integration
,
the case against regional integration
,
the andean community
,
classroom performance system
,
the north american free trade agreement
,
asia-pacific economic cooperation
,
regional economic integration elsewhere
,
regional trade blocs in africa
,
political structure of the european union
,
enlargement of the european union
,
the single european act
,
the establishment of the euro
,
central american common market and caricom
The document discusses key concepts in international marketing, including:
1. Using the SLEPT framework to analyze social, legal, economic, political, and technological factors in foreign markets.
2. The differences between domestic, export, international, and global marketing approaches.
3. Understanding how uncontrollable external factors and controllable marketing variables differ significantly across international markets.
Concept and scope of international and global marketing, Stages of International Marketing Involvement, Importance of international and global marketing, opportunities and challenges of international and global markets, participants in international and global marketing, Historical and Geographical perspective in Global business, Dynamics of Global Population Trends
6. International Marketing, Market Selection, Modes of Entry in International...Charu Rastogi
This presentation defines international marketing, international marketing decisions, challenges of international marketing, and driving and restraining forces of international marketing. It goes on to discuss the process of market selection, firm related, market related and other factors effecting market selection. It also reflects on various modes of entry into foreign markets such as exporting (commercial strategy, commercial mode), foreign direct investment (industrial strategy, integrated modes) and associated or contractual modes (contractual strategy, competitive alliances). The presentation closes with a case study on the experience of Proctor and Gamble (P&G) in various international markets like Japan, China and India.
International marketing involves planning and conducting transactions across national borders to satisfy organizational and individual objectives. There are opportunities such as integrating global knowledge and expanding long-term production, but also challenges like dealing with international logistics and increased political/economic instability. Small businesses can also engage in international marketing, as 50% of German exports come from firms with 19 or fewer employees. When expanding internationally, companies must consider adapting to each local market, incorporating differences into a global strategy, or making no special provisions depending on factors like regulations, customer characteristics, and economic development in the target markets.
Global firms must consider both global and local competitors when developing strategies. Competitors can be addressed through cross-country subsidization, counterattacking in other markets, or globally coordinated new products. Local firms can compete effectively against large multinationals through defender, extender, or contender strategies. Understanding competitors is difficult when they operate across different countries and cultures with varying competitive environments.
This PPT is designed with the objective of giving insights into marketing elements (Product, Price, Place & Promotion) in International Marketing, entry modes, and other related topics.
The other major topics discussed are mentioned below. This PPT is designed with simple words for the benefit of UG and PG students
International Marketing-Motives, Characteristic and advantages, Transitional stages in international Marketing,Management orientation in International Marketing
Global Marketing Information System, International Marketing research, International Marketing Entry Stages
Product Decisions, New Product Development, Geographic Expansions, Strategic Alternatives
International pricing Objectives and strategies, Transfer pricing, International Marketing Channel, Channel Terminology, Physical Distribution and Logistics, Global Advertising and Branding, Public Relation, Personel Selling, Sales Promotion , Direct Marketing, Trade Shows and Exhibitions
egional economic integration
,
levels of economic integration
,
free trade area b) customs union c) common marke
,
the political case for regional integration
,
the economic case for regional integration
,
mercosur
,
regional economic integration in europe
,
evolution of the european union
,
impediments to integration
,
the case against regional integration
,
the andean community
,
classroom performance system
,
the north american free trade agreement
,
asia-pacific economic cooperation
,
regional economic integration elsewhere
,
regional trade blocs in africa
,
political structure of the european union
,
enlargement of the european union
,
the single european act
,
the establishment of the euro
,
central american common market and caricom
The document discusses key concepts in international marketing, including:
1. Using the SLEPT framework to analyze social, legal, economic, political, and technological factors in foreign markets.
2. The differences between domestic, export, international, and global marketing approaches.
3. Understanding how uncontrollable external factors and controllable marketing variables differ significantly across international markets.
Concept and scope of international and global marketing, Stages of International Marketing Involvement, Importance of international and global marketing, opportunities and challenges of international and global markets, participants in international and global marketing, Historical and Geographical perspective in Global business, Dynamics of Global Population Trends
6. International Marketing, Market Selection, Modes of Entry in International...Charu Rastogi
This presentation defines international marketing, international marketing decisions, challenges of international marketing, and driving and restraining forces of international marketing. It goes on to discuss the process of market selection, firm related, market related and other factors effecting market selection. It also reflects on various modes of entry into foreign markets such as exporting (commercial strategy, commercial mode), foreign direct investment (industrial strategy, integrated modes) and associated or contractual modes (contractual strategy, competitive alliances). The presentation closes with a case study on the experience of Proctor and Gamble (P&G) in various international markets like Japan, China and India.
International marketing involves planning and conducting transactions across national borders to satisfy organizational and individual objectives. There are opportunities such as integrating global knowledge and expanding long-term production, but also challenges like dealing with international logistics and increased political/economic instability. Small businesses can also engage in international marketing, as 50% of German exports come from firms with 19 or fewer employees. When expanding internationally, companies must consider adapting to each local market, incorporating differences into a global strategy, or making no special provisions depending on factors like regulations, customer characteristics, and economic development in the target markets.
This chapter discusses the global economy and economic systems. It provides an overview of the stages of market development and the balance of payments. It describes the different types of economic systems including market capitalism, centrally planned socialism, and centrally planned capitalism. It also discusses groups like the G8, OECD, and concepts like economic freedom, saturation levels, and managing foreign exchange exposure.
The document provides an overview of international marketing. It defines international marketing as business activities that direct the flow of goods and services to consumers in more than one country. Key points made include:
- International marketing operations are more complex than domestic operations due to dealing with multiple countries and cultures.
- International marketing involves both controllable factors like product and price as well as uncontrollable factors like cultural and economic forces.
- Companies enter international markets through various modes including franchising, licensing, direct manufacturing, management contracts, and exporting.
The scope and challenge of international marketingluispachon
The document discusses the scope and challenges of international marketing. It identifies four trends driving global commerce: trading blocs, free market economies, technology, and environmental awareness. The challenge for marketers is developing strategic plans that are competitive in intensifying global markets. International marketing involves performing business activities like planning, pricing, promotion, and distribution across national borders for profit. It differs from domestic marketing in areas like foreign currency, multiple political/tax environments, long distances, and various languages. Marketers must adapt to different environments and be globally aware to avoid ethnocentrism.
In this presentation, we will discuss International Marketing Environment, the important factors that affect the environment, various trade barriers protecting domestic industries from foreign competitions and types of commodity agreement. Also state trading, role of GATT and other international trading aspects will be discussed in details.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
This document discusses political risk and political risk assessment. It defines political risk as the possibility of an unexpected politically-motivated event affecting an investment. The main types of political risks are expropriation, terrorism, selective intervention, restrictions on transfers, taxation concerns, investment restrictions, operating restrictions, and non-neutral legal environments. Political risk can be analyzed using empirical relationships identified in past studies, forecasting techniques like expert opinions and econometrics, and by examining rational actors and political bargaining. Managing political risks involves tools like insurance, joint ventures, lobbying, and structuring investments to make costs to governments high for undesirable actions.
The document discusses various considerations for extending marketing internationally, including deciding whether to enter global markets, which specific markets to target, and how to enter those markets through options like exporting, licensing, joint ventures, or direct investment. It also covers adapting the marketing mix of product, price, promotion, and place for different cultural and economic environments in international 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.
GLOBALIZATION CHAPTER 1 INTERNATIONAL BUSSINES BBA 5TH UOGRashid Gorsi
This document provides an overview of globalization and international business. It discusses the benefits of international business such as increased profits and employment opportunities. However, it also notes hurdles such as differing laws and regulations between countries. Globalization is defined as the interdependence and interrelation of the world economy. Key factors driving globalization include the fall of trade barriers, advances in telecommunications and transportation technologies, and the rise of the internet. Several global institutions that promote globalization are also discussed, including the WTO, IMF, World Bank, and UN.
Global strategy formulation involves defining a company's approach to international markets. There are four main types of global strategies - multinational, international, global, and transnational - depending on the degree of standardization and localization needed. Key dimensions to consider include market participation, standardization vs localization, activity concentration, coordination, and non-market factors. Effective global strategies require analyzing industry drivers, entry strategies, target regions or countries, and the appropriate mode of entry.
The document discusses international strategy and provides frameworks for assessing internationalization potential, sources of competitive advantage, types of international strategies, market selection, entry modes, performance impacts, and subsidiary roles. Key factors in internationalization include drivers of globalization, Porter's Diamond model of national advantages, and the four main international strategies. Markets should be evaluated based on attractiveness, distance, and retaliation risk. Common entry modes are exporting, licensing, joint ventures, and foreign direct investment. Internationalization may follow an inverted U-shape performance relationship.
Slide chapter 1 : The Scope and Challenge of
International Marketing - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham.
This document provides an overview of international marketing and pricing strategies. It discusses topics such as international pricing objectives, approaches to setting international prices including full cost versus variable cost and skimming versus penetration pricing. It also covers pricing issues like dumping, transfer pricing strategies, and factors that influence pricing decisions including costs, competition, demand, and the experience curve effect. The document provides examples and definitions of concepts like price escalation, countertrade, and various pricing methods used in international business.
The document discusses various topics related to international business and globalization. It defines key terms like globalization, multinational corporations, and modes of entering international business such as exporting, licensing, franchising, mergers and acquisitions. It also covers the organization structure of multinational companies and debates the pros and cons of globalization.
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 chapter introduces global marketing and discusses key concepts. Global marketing involves marketing activities outside a company's home country. It discusses adapting versus standardizing the marketing mix across countries. Different orientations for global strategies are reviewed, from ethnocentric to geocentric. Forces driving and restraining global integration are examined, including technology, trade agreements, and national controls. The book overview previews contents on the global marketing environment, strategy, marketing mix, and integrating dimensions of global marketing.
The document discusses international market segmentation. It states that countries vary greatly in their economic, cultural, and political characteristics, so international firms must group world markets into segments with distinct consumer needs and behaviors. It identifies geographical, economic, political, legal, and cultural factors as bases for market segmentation. While segments traditionally consist of clusters of countries, new technologies now allow marketers to define segments of like-minded consumers across national borders through inter-market segmentation.
With export entry modes a firm’s products are manufactured in the domestic market or a third country and then transferred either directly or indirectly to the host market. Export is the most common mode for initial entry into international markets. Sometimes an unsolicited order is received from a buyer in a foreign country, or a domestic customer expands internationally and places an order for its international operations. This prompts the firm to consider international markets and to investigate their growth potential.
Exporting is thus typically used in initial entry and gradually evolves towards foreign-based operations. In some cases where there are substantial scale economies or a limited number of buyers in the market worldwide (e.g. for aerospace), production may be concentrated in a single or a limited number of locations, and the goods then exported to other markets.
Exporting can be organized in a variety of ways, depending on the number and type of intermediaries. As in the case of wholesaling, export and import agents vary considerably in the range of functions performed. Some, such as export management companies, are the equivalent of full-service wholesalers and perform all functions relating to export. Others are highly specialized and handle only freight forwarding, billing or clearing goods through customs.
In establishing export channels a firm has to decide which functions will be the responsibility of external agents and which will be handled by the firm itself.While export channels may take many different forms, for the purposes of simplicity three major types may be identified: indirect, direct and cooperative export marketing groups.
Global Marketing
Svend Hollensen
Fifth Edition
A decision-oriented approach
INTERNATIONAL ENTRY MODES
Criteria for Country selection :
Choosing Product to trade in International markets
Global Product Strategies
Strategy for new product launch
STANDARDIZATION VS ADAPTATION
FOREIGN MARKET ENTRY MODES
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 discusses various factors that influence international pricing strategies and decisions. It outlines analytical dimensions like production costs, exchange rates, and competition that managers consider. It also presents different pricing objectives such as market penetration or market skimming. The document then examines pricing policies like uniform pricing or market-by-market pricing. Finally, it analyzes environmental influences and provides alternatives for global pricing approaches.
Session 7 cross cultural negotiation bookboomingbookbooming
The document discusses different aspects of cross-cultural negotiation including how cultural factors like power distance, individualism, masculinity, and time orientation can impact negotiation behavior. It also provides tips for negotiating with Americans, Chinese, and Japanese by understanding their different cultural styles and priorities around aspects like directness, relationships, and process versus outcomes. Cultural analysis is presented as important for navigating differences in values, communication, and decision-making between parties in international business negotiations.
The document discusses various frameworks for analyzing and classifying culture, including:
1) Hofstede's dimensions of cultural values which includes individualism/collectivism, power distance, uncertainty avoidance, and masculinity/femininity.
2) Kluckhohn and Strodtbeck's framework which analyzes variations in values orientations around concepts like time, human nature, and relationships.
3) Trompenaars' seven dimensions of culture which examines universalism vs particularism, individualism vs communitarianism, and achievement vs ascription.
4) The frameworks provide tools for understanding differences in cultural values but also have limitations as cultures are complex and constantly changing.
This chapter discusses the global economy and economic systems. It provides an overview of the stages of market development and the balance of payments. It describes the different types of economic systems including market capitalism, centrally planned socialism, and centrally planned capitalism. It also discusses groups like the G8, OECD, and concepts like economic freedom, saturation levels, and managing foreign exchange exposure.
The document provides an overview of international marketing. It defines international marketing as business activities that direct the flow of goods and services to consumers in more than one country. Key points made include:
- International marketing operations are more complex than domestic operations due to dealing with multiple countries and cultures.
- International marketing involves both controllable factors like product and price as well as uncontrollable factors like cultural and economic forces.
- Companies enter international markets through various modes including franchising, licensing, direct manufacturing, management contracts, and exporting.
The scope and challenge of international marketingluispachon
The document discusses the scope and challenges of international marketing. It identifies four trends driving global commerce: trading blocs, free market economies, technology, and environmental awareness. The challenge for marketers is developing strategic plans that are competitive in intensifying global markets. International marketing involves performing business activities like planning, pricing, promotion, and distribution across national borders for profit. It differs from domestic marketing in areas like foreign currency, multiple political/tax environments, long distances, and various languages. Marketers must adapt to different environments and be globally aware to avoid ethnocentrism.
In this presentation, we will discuss International Marketing Environment, the important factors that affect the environment, various trade barriers protecting domestic industries from foreign competitions and types of commodity agreement. Also state trading, role of GATT and other international trading aspects will be discussed in details.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
This document discusses political risk and political risk assessment. It defines political risk as the possibility of an unexpected politically-motivated event affecting an investment. The main types of political risks are expropriation, terrorism, selective intervention, restrictions on transfers, taxation concerns, investment restrictions, operating restrictions, and non-neutral legal environments. Political risk can be analyzed using empirical relationships identified in past studies, forecasting techniques like expert opinions and econometrics, and by examining rational actors and political bargaining. Managing political risks involves tools like insurance, joint ventures, lobbying, and structuring investments to make costs to governments high for undesirable actions.
The document discusses various considerations for extending marketing internationally, including deciding whether to enter global markets, which specific markets to target, and how to enter those markets through options like exporting, licensing, joint ventures, or direct investment. It also covers adapting the marketing mix of product, price, promotion, and place for different cultural and economic environments in international 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.
GLOBALIZATION CHAPTER 1 INTERNATIONAL BUSSINES BBA 5TH UOGRashid Gorsi
This document provides an overview of globalization and international business. It discusses the benefits of international business such as increased profits and employment opportunities. However, it also notes hurdles such as differing laws and regulations between countries. Globalization is defined as the interdependence and interrelation of the world economy. Key factors driving globalization include the fall of trade barriers, advances in telecommunications and transportation technologies, and the rise of the internet. Several global institutions that promote globalization are also discussed, including the WTO, IMF, World Bank, and UN.
Global strategy formulation involves defining a company's approach to international markets. There are four main types of global strategies - multinational, international, global, and transnational - depending on the degree of standardization and localization needed. Key dimensions to consider include market participation, standardization vs localization, activity concentration, coordination, and non-market factors. Effective global strategies require analyzing industry drivers, entry strategies, target regions or countries, and the appropriate mode of entry.
The document discusses international strategy and provides frameworks for assessing internationalization potential, sources of competitive advantage, types of international strategies, market selection, entry modes, performance impacts, and subsidiary roles. Key factors in internationalization include drivers of globalization, Porter's Diamond model of national advantages, and the four main international strategies. Markets should be evaluated based on attractiveness, distance, and retaliation risk. Common entry modes are exporting, licensing, joint ventures, and foreign direct investment. Internationalization may follow an inverted U-shape performance relationship.
Slide chapter 1 : The Scope and Challenge of
International Marketing - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham.
This document provides an overview of international marketing and pricing strategies. It discusses topics such as international pricing objectives, approaches to setting international prices including full cost versus variable cost and skimming versus penetration pricing. It also covers pricing issues like dumping, transfer pricing strategies, and factors that influence pricing decisions including costs, competition, demand, and the experience curve effect. The document provides examples and definitions of concepts like price escalation, countertrade, and various pricing methods used in international business.
The document discusses various topics related to international business and globalization. It defines key terms like globalization, multinational corporations, and modes of entering international business such as exporting, licensing, franchising, mergers and acquisitions. It also covers the organization structure of multinational companies and debates the pros and cons of globalization.
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 chapter introduces global marketing and discusses key concepts. Global marketing involves marketing activities outside a company's home country. It discusses adapting versus standardizing the marketing mix across countries. Different orientations for global strategies are reviewed, from ethnocentric to geocentric. Forces driving and restraining global integration are examined, including technology, trade agreements, and national controls. The book overview previews contents on the global marketing environment, strategy, marketing mix, and integrating dimensions of global marketing.
The document discusses international market segmentation. It states that countries vary greatly in their economic, cultural, and political characteristics, so international firms must group world markets into segments with distinct consumer needs and behaviors. It identifies geographical, economic, political, legal, and cultural factors as bases for market segmentation. While segments traditionally consist of clusters of countries, new technologies now allow marketers to define segments of like-minded consumers across national borders through inter-market segmentation.
With export entry modes a firm’s products are manufactured in the domestic market or a third country and then transferred either directly or indirectly to the host market. Export is the most common mode for initial entry into international markets. Sometimes an unsolicited order is received from a buyer in a foreign country, or a domestic customer expands internationally and places an order for its international operations. This prompts the firm to consider international markets and to investigate their growth potential.
Exporting is thus typically used in initial entry and gradually evolves towards foreign-based operations. In some cases where there are substantial scale economies or a limited number of buyers in the market worldwide (e.g. for aerospace), production may be concentrated in a single or a limited number of locations, and the goods then exported to other markets.
Exporting can be organized in a variety of ways, depending on the number and type of intermediaries. As in the case of wholesaling, export and import agents vary considerably in the range of functions performed. Some, such as export management companies, are the equivalent of full-service wholesalers and perform all functions relating to export. Others are highly specialized and handle only freight forwarding, billing or clearing goods through customs.
In establishing export channels a firm has to decide which functions will be the responsibility of external agents and which will be handled by the firm itself.While export channels may take many different forms, for the purposes of simplicity three major types may be identified: indirect, direct and cooperative export marketing groups.
Global Marketing
Svend Hollensen
Fifth Edition
A decision-oriented approach
INTERNATIONAL ENTRY MODES
Criteria for Country selection :
Choosing Product to trade in International markets
Global Product Strategies
Strategy for new product launch
STANDARDIZATION VS ADAPTATION
FOREIGN MARKET ENTRY MODES
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 discusses various factors that influence international pricing strategies and decisions. It outlines analytical dimensions like production costs, exchange rates, and competition that managers consider. It also presents different pricing objectives such as market penetration or market skimming. The document then examines pricing policies like uniform pricing or market-by-market pricing. Finally, it analyzes environmental influences and provides alternatives for global pricing approaches.
Session 7 cross cultural negotiation bookboomingbookbooming
The document discusses different aspects of cross-cultural negotiation including how cultural factors like power distance, individualism, masculinity, and time orientation can impact negotiation behavior. It also provides tips for negotiating with Americans, Chinese, and Japanese by understanding their different cultural styles and priorities around aspects like directness, relationships, and process versus outcomes. Cultural analysis is presented as important for navigating differences in values, communication, and decision-making between parties in international business negotiations.
The document discusses various frameworks for analyzing and classifying culture, including:
1) Hofstede's dimensions of cultural values which includes individualism/collectivism, power distance, uncertainty avoidance, and masculinity/femininity.
2) Kluckhohn and Strodtbeck's framework which analyzes variations in values orientations around concepts like time, human nature, and relationships.
3) Trompenaars' seven dimensions of culture which examines universalism vs particularism, individualism vs communitarianism, and achievement vs ascription.
4) The frameworks provide tools for understanding differences in cultural values but also have limitations as cultures are complex and constantly changing.
This document discusses the scope and challenges of international marketing. It covers several topics:
1) The increasing globalization and internationalization of business as seen in the large percentage of revenues multinational companies generate from foreign markets and the foreign ownership of many well-known U.S. brands.
2) The complex and uncertain international marketing environment that marketers must navigate, which includes political, economic, cultural and other uncontrollable factors in both domestic and foreign markets.
3) The progression of involvement in international marketing, from no direct foreign marketing to global marketing approaches that treat the entire world as a single market.
1. The document discusses two insurance agents and which is more likely to succeed. The second agent is identified as being a specialist for teachers - having insured over 200 teachers in the city and developing a special insurance program for teachers.
2. It then discusses segmentation, target markets, and positioning in marketing. It provides examples of how to segment markets based on demographics, psychographics, behaviors, and other factors.
3. The key to success is identified as becoming a specialist in a unique target market segment. It emphasizes the need to deeply understand the segment's needs and behaviors to develop specialized products and services tailored specifically for that niche market.
This document discusses intercultural marketing and advertising across cultures. It examines how culture influences international marketing approaches, advertising strategies and execution. Key aspects that are localized for different cultures include language, symbols, appeals, information content and visual elements. Examples show how direct translations can miscommunicate messages if the cultural context is not considered. Standardizing advertising strategy, execution or language across cultures risks misunderstandings without accounting for differences in cultural values and norms.
The document discusses market segmentation and target marketing. It defines market segmentation as dividing a market into groups with different needs that may require tailored products or messaging. Various ways to segment markets are described, including geographic, demographic, psychographic, and behavioral factors. The document also defines target markets as the specific segments an organization aims to reach. Market positioning is presented as how a product is defined in a customer's mind relative to competitors. The overall document provides an overview of segmenting customers, targeting specific groups, and positioning offerings for marketing purposes.
This chapter discusses consumer behavior in online exchanges. It outlines the technological, social/cultural, and legal context of internet exchanges. Individual characteristics like age, income, education, and goals affect online behavior. Consumers seek outcomes like connecting with others, enjoyment, learning, and trading when participating in online exchanges.
Nestle Purina PetCare wanted to understand the impact of their online advertising and websites on offline sales. They analyzed online and offline panel data and found that (1) banner clickthrough was low at 0.06% but (2) 31% of subjects exposed to both online and offline ads mentioned Purina, and (3) those with high exposure mentioned Purina more. Companies are using vast amounts of online and offline data through marketing information systems and knowledge management to guide business decisions.
The document discusses segmentation and targeting strategies for e-marketing. It outlines how market segmentation involves grouping individuals based on characteristics like geography, demographics, behaviors, and interests. This allows companies to better target customer segments. The document provides examples of common segmentation bases used by e-marketers and describes several usage segments like millennials, ethnic groups, and influentials. It also discusses four targeting strategies and how segmentation can increase customer retention, sales, and repeat orders.
Global marketing - global economic environmentRECONNECT
This is the lecture of course "Global Marketing"
This slideshare network of RECONNECT will provide all the presentation related to case studies, project presentations, educational, motivational slides & much more.
Follow Reconnect on slide share.
Official fb page: facebook.com/reconnectt
Official fb group: facebook.com/groups/reconnecting.tech/
Rights are reserved for this presentation. Please inbox 1st to get permission to use this
This is a revision presentation on international competitiveness designed for A level economics students.
Students will be expected to
Consider measures of competitiveness: For example: relative unit labour costs and relative export prices.
Understand factors influencing competitiveness such as the exchange rate; productivity; wage and non- wage costs; regulation.
Examine government policy to increase international competitiveness. For example: measures to improve education and training; incentives for investment; deregulation.
Kannur University MBA slides 3rd Semester, Training Need Analysis, Training and Development Class note for the students
details about the TNA is discussed
This document discusses strategic management concepts related to international business strategies. It covers several key points:
1. It outlines learning outcomes related to assessing international market potential, identifying sources of competitive advantage, distinguishing international strategy types, and evaluating market entry options.
2. It introduces frameworks for international strategy and the difference between international versus global strategies.
3. It discusses strategic motives for entering foreign markets such as accessing new customers, exploiting core competencies, achieving lower costs, and spreading business risk.
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.
The document discusses various concepts related to global marketing, including different approaches to entering international markets, adapting marketing mixes for other countries, and the three major forms of international marketing organization. It also provides examples of how companies like Coca-Cola have successfully expanded globally by balancing standardization with local adaptation. The overall roadmap previews how international trade systems, economic, political-legal, and cultural factors influence global marketing decisions.
Global marketing - global cultural environamental & buying behaviorRECONNECT
This is the lecture of course "Global Marketing"
This slideshare network of RECONNECT will provide all the presentation related to case studies, project presentations, educational, motivational slides & much more.
Follow Reconnect on slide share.
Official fb page: facebook.com/reconnectt
Official fb group: facebook.com/groups/reconnecting.tech/
Rights are reserved for this presentation. Please inbox 1st to get permission to use this
Effects of politics on international businesstaniajavaid
The political environment of the countries in which international businesses operate can significantly impact their operations. Governments have sovereignty over allowing or restricting foreign firms and impose various political factors such as differing laws, trade restrictions, and policies regulating business. These political factors vary across countries and can change unpredictably, presenting risks. Therefore, international businesses must consider how a nation's political system, policies, and stability or instability may affect their activities.
This document discusses the debate between standardization and customization in global marketing. It notes that while standardization allows companies to achieve economies of scale, full standardization may not be appropriate given variations across markets in customer preferences and regulations. Companies must determine the best combination of global and local activities. The document provides several examples of companies that take different approaches, such as McDonald's using a global brand but some localized products, and concludes that adjusting strategies to account for market variations enhances success.
This document provides an overview of the FMCG sector in India including a SWOT analysis. It begins with definitions of FMCG and describes key segments. India has a large FMCG market, expected to reach $33.4 billion by 2015. The top strengths are low costs, established distribution networks, and strong brands. Weaknesses include lower technology investment and counterfeiting. Opportunities include the large untapped rural market and rising incomes. Threats include increased competition and high taxes. The document proposes strategies like expansion, improved distribution, innovation, and addressing issues in tax policy.
International marketing refers to marketing activities that cross national borders. It involves identifying foreign markets, selecting market entry strategies, and developing marketing mixes tailored to compete abroad. The main approaches are exporting, joint ventures, and foreign direct investment like assembly or manufacturing plants. Effective international marketing requires understanding differences in cultures, laws, and economies between countries while maintaining a consistent global brand. It presents new opportunities but also challenges of adapting to varied international consumer behaviors and business environments.
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 strategy and provides an overview of key concepts. It covers motives for international diversification, factors influencing international business strategies, and three types of international corporate strategies: multidomestic, global, and transnational. It also examines opportunities and outcomes of international strategies, including higher returns and innovation. Risks of international diversification like political and economic risks are also outlined.
Michael Porter is a professor at Harvard Business School.
A firm’s success in strategy rests upon how it positions itself in respect to its environment.
The document describes a man's morning routine that highlights the global nature of modern consumer goods. He uses products from many different countries for basic tasks like making coffee, watching news, grooming, and communicating. Even relatively simple daily activities rely on an intricate global supply chain. The summary emphasizes how the man's routine illustrates our deep integration into the global economy through the widespread international sources of common consumer items.
The document describes a man's morning routine that highlights the global nature of modern consumer goods. He uses products from many different countries for basic tasks like making coffee, watching news, grooming, and communicating. Even mundane daily activities rely on an intricate global supply chain that seamlessly integrates economies worldwide. The passage emphasizes how international trade has interconnected global markets and made nationality largely irrelevant for many consumer brands.
This document discusses international product policy and planning. It begins by outlining the international product life cycle, from innovation in developed countries to import competition from developing countries. It then discusses standardization versus adaptation of products for international markets. The document also covers international marketing segmentation and influences on international marketing plans and budgets, including internal factors like finances and external factors like competitor actions. It concludes that international product policy and planning is crucial for successful global marketing operations and requires adapting products to meet customer needs in different markets.
More communication and technological advances have made it possible than ever for companies to offer their services and products internationally. Today, to achieve success, even the smallest businesses ought to plan on their global marketing strategies in order to attract consumer interests outside of their local markets. You can learn more by visiting our blog. https://www.laowaicareer.com/blog/contrast-global-marketing-strategies/
This document discusses international strategy and opportunities for firms. It covers traditional motives for international diversification like accessing larger markets and resources. It also discusses three levels of international strategy - multinational, global, and transnational. Key risks of internationalization include political risks from government instability and economic risks from currency and inflation rate fluctuations. Modes of entering foreign markets addressed include exporting, licensing, strategic alliances, acquisitions, and new wholly-owned subsidiaries.
1. The document discusses the increasing globalization of markets and importance of understanding international marketing. It outlines theories of international trade and the evolution of global marketing strategies from domestic to multinational and global approaches.
2. Key points covered include the growth of emerging Asian and Latin American markets, factors driving companies to look beyond domestic markets, and how marketing strategies must adapt from ethnocentric to geocentric approaches over time.
3. Theories of comparative advantage, international product cycles, and internalization are presented in the context of international trade and investment strategies. Stages in the evolution of global marketing and examples of each stage are also summarized.
This document provides an overview of key concepts in global strategy formulation. It discusses factors that drive industry globalization and unique risks of operating globally. It examines different global strategies like standardized, tailored, and changed approaches. It also analyzes Walmart's transformation into a major global company through international expansion focused initially in Americas, then China. Walmart exploited buying power, domestic competencies, and learned through local adaptations in different market entries.
This document discusses key concepts in international brand management including:
1. Conditions for successful branding include products that are easy to identify, high quality, widely available, and can support branding through economies of scale and retail display.
2. Leading brands invest heavily in promotion and direct all efforts to supporting consistent branding strategies.
3. There are two main marketing strategies - multi-domestic which adapts to each market, and global which standardizes where possible. Most companies use a hybrid approach of global brand leadership.
4. Important elements of brand creation include positioning, naming, differentiation, and conditioning the market through promotional strategies.
International marketing involves planning and executing business activities to direct the flow of goods and services to consumers in more than one country. It considers both uncontrollable factors like politics, economics, and competition, as well as controllable factors such as price, product, promotion and channels. Firms can have different orientations when conducting international marketing such as polycentric, regiocentric, or geocentric. The benefits of international marketing include potential for growth, sales, profits, and understanding global business operations.
This document discusses various aspects of international marketing, including reasons for companies to engage in international business, differences between domestic and international marketing, and strategies for entering foreign markets. It notes that as more economies and competitors become global, US firms are increasingly engaging in international marketing through methods like foreign manufacturing, joint ventures, licensing, and imports. Competing globally allows companies to tap new markets and enhance long-term profits, but also adds complexity from dealing with different cultures, governments, and economic conditions.
Dole Foods is considering international expansion and must make several strategic decisions. It must determine which foreign markets to enter, when to enter them, how much resources to commit initially, and how to enter through options like exporting, licensing, joint ventures, or wholly owned subsidiaries. Key factors in these decisions include advantages and risks of early vs late entry, pressures for low costs vs local responsiveness, and whether to make or buy component parts through strategic alliances.
Dole Foods is considering international expansion and must make several strategic decisions. It must determine which foreign markets to enter, when to enter them, how much resources to commit initially, and how to enter through options like exporting, licensing, joint ventures, or wholly owned subsidiaries. Key factors in these decisions include advantages and risks of early vs late entry, pressures for low costs vs local responsiveness, and whether to make or buy component parts through strategic alliances.
The document discusses developing new products for global markets. It covers introducing products into foreign markets through extension, adaptation, or invention strategies. It also discusses developing global products through standardization or modularity. For new product development processes, a company can assign responsibilities to subsidiaries or head office. Sources of new development include lead markets, subsidiaries, purchasing R&D, importing, acquisitions, joint ventures, and alliances. Introducing new products globally requires test marketing and determining the target country and introduction timing.
The document discusses several topics related to global marketing management including:
- In the 1970s-1990s, companies debated between standardization vs. adaptation and globalization vs. localization when expanding globally.
- Today, forward-looking companies are able to both standardize and localize simultaneously to different markets.
- When expanding to new global markets, companies must carefully evaluate and adapt their marketing mix, including their products, to the target country by considering cultural and regulatory differences.
- Maintaining high product quality is essential for success in competitive global markets.
This presentation analyzes the different strategies adopted by multinational enterprises (MNEs) to coordinate their international operations. It describes international, multi-domestic, global, and transnational strategies, highlighting their strengths and weaknesses. As a case study, it examines Procter & Gamble's strategy over time, from initially using an international approach in the 1930s, to adopting multi-domestic and eventually transnational strategies as it expanded globally. The transnational strategy allows P&G to balance global efficiency with local responsiveness but also poses management challenges to coordinate decision-making across subsidiaries.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
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How to Fix the Import Error in the Odoo 17Celine George
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The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
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This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
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Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
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at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
2. Domestic marketing Export marketing International marketing Multinational marketing Global Marketing THE DEVELOPMENT OF GM
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6. Single country (domestic) marketing Dual country (Export) marketing Multicountry marketing Global marketing
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22. Arabic read right to left Chinese “ delicious/happiness” The faces of Coca-Cola around the world
23. Marketing Mix Element Standardization Localized Product Promotion Place Price Big Mac Brand name Advertising slogan “I’m Loving It” Free-standing Big Mac is $3.10 in U.S. and Turkey McAloo Tikka potato burger (India) Slang ’Macca’s (Australia) MakDo (Philippines) McJoy magazine, “Hawaii Surfing Hula” promotion (Japan) Home delivery (India) Swiss rail system dining cars $5.21 (Switzerland) $1.31(China) McDONALD ’ S GLOBAL MARKETING
56. Hall’S CONTEXT FRAMEWORK Low-Context High-Context Information and meaning are explicitly stated in the message Individual “internalizes” meaning and information, so that less is explicitly stated Values Individualism Values Group Sense Values direct verbal interaction and is less able to read nonverbal expressions Values indirect verbal interaction and is more able to read nonverbal expressions Tends to use “logic” to present ideas Tends to use more “feeling” in expressions Tends to emphasize highly structured messages, give details, and place great stress on words Tends to give simple, ambiguous, non-contexting messages Emphasizes linear logic Emphasizes spiral logic
57. What you say is what you think - “No, I really mean it…” Silent language’s role is LOW. What you say is not really what you think. “As I am sure you understand,…” Read between the lines. A b c d e f g h i j k l m n o p A b c d e f g h i j k l m n o p A b c d e f g h i j k l m n o p W b x d y e Silent language’s role is HIGH.
58. ZER DEFECTS CONFORMS TO STANDARDS & SPECIFICATIONS Luxury GERMANY : FRANCE : USA : It works. JAPAN : Rapaille: What is “Quality”?
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75. SWOT MATRIX Internal Factors External Factors Strengths (list key strengths) Weaknesses (list key weaknesses) Opportunities (list key opportunities) SO Strategies: strategies that use strengths to take advantage of opportunities WO Strategies: strategies that alleviate weaknesses and take advantage of opportunities Threats (list key threats) ST Strategies: strategies that use strengths to overcome threats WT Strategies: strategies that alleviate weaknesses and overcome threats
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77. The Buyer Decision Process Problem/need recognition information search alternative evaluation purchase post-purchase behavior Seeking Customers Meeting Customers Keeping Customers
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80. External Information Sources person publicity Advertising S/P Sales representative Word-of-Mouth Communication Mass media others firm media source
94. Segmentation criteria Segmentation and analysis on each segment Target market and marketing goals Competitiveness analysis and Positioning Positioning evaluation and repositioning S egmentation T argeting P ositioning STP STRATEGY
102. 0 .9 .8 ,7 .6 .5 .4 .3 .2 .1 0 -.1 -.2 -.1 0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1.0 • SOT • UKI NOR • • SWE • DEN FIN• • SWI • AUS • NET • GER • NEZ • BEL • AUT • COL • CHI • VEN • SPA • BRA • PER • MEX PUE • • FRA ITA• • ARG PHI • • THI • ISR • JAP • MAC • IND • PAK Factor VI Religion TUR • Protestant Catholic Factor III Standard of Living Macro-Segmentation on Standard of Living and Religion
104. TRADITIONALIST 18% HOMEBODY 14% RATIONALIST 23% PLEASURIST 17% STRIVER 15% TRENDSETTER 13% 6 PAN-EUROPEAN LIFESTYLE SEGMENTS Relative size of segments in percent, of the European Market, as developed by the RISC research agency Macro-Segmentation Based on Lifestyle
108. AIO 활동 activity 관심 interest 의견 opinion 일 취미 사회활동 휴가 오락 클럽회원활동 지역사회활동 쇼핑 스포츠 가족 가정 직업 지역사회 여가활동 유행 음식 대중매체 업적 자기자신에 대한 의견 사회적 이슈 정치 사업 경제 교육 상품 미래 문화
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111. Benefit Segmentation of the Snack Food Market Nutritional snakers Weight watchers Guilty snackers Party snackers Indiscriminate snackers Economical snackers % 22 14 9 15 15 18 Benefit sought Nutritious No artificial Low calorie Quick energy Good tasting Low calorie Good to serve Goes well with beverage Good tasting Satisfies hunger Low price Best value Demographics Have young children Younger single females nonurban teens Larger families Psychographics controlled Outdoor High anxiety sociable hedonistic Price-oriented Consumption light light heavy average heavy Average Types of snack Fruits vegetable Yogurt vegetables Yogurt Cookies candy Nuts Chips pretzels Candy Ice cream cookies No specific
112. Segmentation by Personality Factors Type of drinker Personality type Drinking patterns Reparative drinker Sensitive and responsive to needs of others, adapts to these needs by sacrificing own aspirations, well adjusted to this situation Drinks at end of day, usually with a few close friends, controlled drinker, seldom drunk, drinking is self reward for sacrifices made to others. Social drinker Driven by own ambitions, attempts to manipulate others to get what he wants, not yet attained level of aspirations, but expects to. Drinks heaviest on weekends, in larger groups in social settings, drinks as menas of acceptance of and by others, controlled drinker Indulgent drinker Considers self a failure, bales environment and others Heavy drinker, drinks in isolation as a form of escape Oceanic drinker Considers self a failure but blames own shortcomings Also heavy drinker and drink to escape recognition of shortcoming, doesn’t drink alone
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115. Fit to the firm Market size Competition Day time user 직장인의 휴식 Low Small High couple Low Big Extremely High Stay over Foreign tourist High Big Medium Local tourist High Small Medium 사교모임 , 유흥 , 취객 대상 High Small Medium Coffee shop Social purpose Low Big Extremely high Business purpose Low Medium Extremely High Sauna High Big High club regular Low Big Medium high Group users Low Big Medium high restaurant regular Low Big Extremely high Group users Low Big Extremely high Special occasion service 결혼식 , 가족 모임 , 사은회 , 세미나 , 연말 모임 등 Low Big Extremely high
123. Healthy drink Ionic drink Female drink Sports drink Thirst quencher masculine Product Space Map(Positioning Map) A B I 1 C I 2 D sporty masculine Size of a circle =market size healty feminine
128. Place Mix Product Mix Price Mix Promotion Mix Providing the best price Providing the best product Providing accessibility to target customers Provide product information and persuade customers
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131. sales cost profit MKT objectives product price low High cost per customer Negative Awareness and trial basic product cost-plus distribution selective distribution communication Increase awareness for early adopters and dealers Introduction stage
132. Rapid growth Cost per customers gets lower Profit increases Maximize market share product extensions, service, warranty Market penetration intensive distribution Increase awareness of mass market Growth stage sales cost profit MKT objectives product price distribution communication
133. The biggest lowest High profits Keep market share and maximize profit Diversify Brands and models competitive more intensive distribution Emphasize difference from your competitors Mature stage sales cost profit MKT objectives product price distribution communication
134. decreases lowest decreases milk the brand Remove weak items Keep or reduce price Select a few channels Keep hard-core loyal customers Decline stage sales cost profit MKT objectives product price distribution communication
139. PREFER REJECT Line shows likelihood of Purchase Uniform Localized Adapted + - Uniform vs Adapted Product
140. Fully standardized Fully adapted Incremental manufacturing cost Combined costs Cost of lost sales Optimal Level of Standardization
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142. EUROPE ASIA LATIN AMERICA NORTH AMERICA Honda City Honda Element Honda Fit Honda Stream Honda’s Non-Global Car Models
143. EUROPE ASIA LATIN AMERICA NORTH AMERICA Goodyear Eagle F1 Goodyear Eagle F1 Goodyear Eagle F1 Goodyear Eagle F1 Goodyear’s Globally Uniform Tires
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151. Desired Service Predicted/Expected Service Adequate Service (Perceived Service low) Surprise Acceptable Dissatisfaction Zone of tolerance Performance Gap Service Quality: The Gap and the Zone of Tolerance (Perceived Service high) Inadequate Service
168. Role of brands: cultural differences JAPAN US EUROPE IMAGE RISK REDUCTION RECOGNITION/ENVY “ FEEL GOOD” TIME SAVER ACHIEVEMENT EMOTIONAL PEER DOMINATION HIGH ASPIRATIONS “ BELONGING” DISTINCT PEER RECOGNITION INDIVIDUAL _________________________ ________________________ ______________________ “ VALUE ADDED” AFFECT CONVENIENT AND SURE CALCULATED SOCIAL VALUE __________________________ ________________________ ______________________ DEFINES THE GROUP IDENTIFIES THE INDIVIDUAL HIGH-LOW STATUS
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171. Advertising Global Marketing Communication Sales Promotion Public Relations Personal Selling Sponsorship Marketing Promotional Mix – Integrated Marketing Communication
195. Medium Newspaper T.V. D.M. Radio Magazine Outdoor Advantage Flexible, Timely, Local market Disadvantage Short life Few “pass-along” Good attention Wide reach Expensive Fleeting exposure Expensive “ Junk mail” image Audio only Fleeting exposure Long lead time No audience selectivity Very short exposure Audience selectivity Personalization Wide reach Low cost Audience selectivity Long life and “pass-along” Repeat exposure Low cost Advertising Medium
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197. Global Ad categories IDENTICAL ADS ads are identical, usually with localization only in terms of language voice-over changes & simple copy translations PROTOTYPE ADVERTISING the same ads, but the voice-over may be changed to avoid language & cultural problems, & the ad may be re-shot with local celebrities PATTERN STANDARDIZATION similar but less structured global approach, wherein the positioning theme is unified & some alternative creative concepts are planned, but execution differs between markets
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199. VISUAL PROCESSING Low literacy Younger Segments Low Involvement products High context societies VERBAL PROCESSING High Literacy Older segments High involvement products Low context societies TV commercials Magazines Newspapers Radio Ads Cultures and Visual vs Verbal Processing
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213. Unit sales Time in local market Profitability Time in local market Penetration price Penetration price Skimming price Skimming price Skimming vs. Penetration Pricing
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215. The Questions Cheap At what price on the scale would you consider the product or service to be cheap? 상품의 가격이 어느 정도면 적당히 싸다고 생각하십니까 ? Expensive At what price on the scale would you consider the product or service to be expensive? 상품의 가격이 어느 정도면 비싸지만 이용해볼 만하다고 생각하십니까 ? Too Expensive At what price would you consider the product or service to be so expensive that it is beyond considering buying? 상품의 가격이 어느 정도면 아무리 품질이 좋아도 너무 비싸서 이용하지 않겠다고 생각하십니까 ? Too Cheap At what price do you consider the product or service to be so cheap that you would question the quality? 상품의 가격이 어느 정도면 품질이 의심스러울 만큼 싸서 이용하지 않겠다고 생각하십니까 ?
216. Define Product Establish Baseline Price Range Survey 4 Questions Plot Cumulative Frequency Indifference Price Optimal Price Point Range of Acceptable Prices Process
Because countries and people are different, marketing practices that work in one country will not necessarily work in another. Customer preferences, competitors, channels of distribution, and communication may differ. Global marketers must realize the extent to which plans and programs may be extended or need adaptation. The way a company addresses this task is a reflection of its global marketing strategy (GMS). Standardization versus adaptation is the extent to which each marketing mix element can be executed in the same or different ways in various country markets. Concentration of marketing activities is the extent to which marketing mix activities are performed in one or a few country locations. Coordination of marketing activities refers to the extent to which marketing mix activities are planned and executed interdependently around the globe. Integration of competitive moves is the extent to which a firm ’ s competitive marketing tactics are interdependent in different parts of the world.
The discipline of marketing is universal. It is natural, however, that marketing practices will vary from country to country, for the simple reason that the countries and peoples of the world are different. These differences mean that a marketing approach that has proven successful in one country will not necessarily succeed in another country. Customer preferences, competitors, channels of distribution, and communication media may differ. An important task in global marketing is learning to recognize the extent to which marketing plans and programs can be extended worldwide, as well as the extent to which they must be adapted.
The design is basically the same but the name is frequently transliterated into local languages. The Arabic label is read right to left; the Chinese label translates “ delicious/happiness. ”
Ethnocentric orientation leads to a standardized or extension approach. Foreign operations are typically viewed as being secondary or subordinate to the country in which the company is headquartered. Sometimes valuable managerial knowledge and experience in local markets may go unnoticed. Manufacturing firms may view foreign markets as dumping grounds with little or no marketing research conducted, manufacturing modifications made or attention paid to customer needs and wants. Example: In Nissan ’ s early days of exporting to the United States, the company shipped cars for the mild Japanese winters. Executives assumed that when the weather turned cold, Americans would put a blanket over their cars just like Japanese would. Nissan ’ s spokesperson said, “ We tried for a long time to design cars in Japan and shove them down the American consumer ’ s throat. That didn ’ t work very well. ” Michael Mondavi, former CEO of the wine company said, “ Robert Mondavi was a local winery that thought locally, grew locally, produced locally, and sold globally. . . . To be a truly global company, I believe it ’ s imperative to grow and produce great wines in the world in the best wine-growing regions, regardless of the country or the borders. ”
At GM, executives were given considerable autonomy in designing autos for their regions. One result was the use of 270 different radios being installed around the world.
While this step is basically the SWOT analysis that many of us have become accustomed to hearing about, it is the engine which drives the strategic management and planning processes. It is impossible for a business to know where it wants to go if it doesn ’ t know where it is currently at in relation to itself, its products, and other businesses which affect it. These other businesses will not only include competitors, but will also include product substitutes, complementary businesses, etc.
Introduction. In this stage marketers spend heavily on promotions to inform the target market about the new product's benefits. Low or negative profits may encourage the company to price the product high to help offset expenses. companies can concentrate on skimming strategies to generate high profits now or on penetration strategies to build market share and dominant the market for larger profits once the market stabilizes. Product Life Cycle Strategies Product Life-Cycle Strategies This CTR relates to the material on pp. 289 and 293.
Product Life-Cycle Strategies This CTR relates to the material on pp. 289-290 and 293. Product Life-Cycle Strategies Growth. In this stage the company experiences both increasing sales and competition. Promotion costs are spread over larger volume and strategic decisions focus on growth strategies. Strategies include adding new features, improving quality, increasing distribution, and entering new market segments.
Product Life Cycle Strategies Maturity. In this stage the company must manage slower growth over a longer period of time. Strategic decisions made in the growth stage may limit choices now. Marketing managers must proactively seek advantage by either market modification to increase consumption, product modification to attract new users (quality, feature, and style improvements), or marketing mix modification in an attempt to improve competitive position. Product Life-Cycle Strategies This CTR relates to the material on pp. 290-292 and 293.
Product Life-Cycle Strategies This CTR relates to the material on pp. 292-293. Product Life Cycle Strategies Decline. In this stage the costs of managing the product may eventually exceed profits. Rate of decline is a major factor in setting strategy. Management may maintain the brand as competitors drop out, harvest the brand by reducing costs of support for short term profit increases, or drop the product (divest) altogether.