This document discusses the key elements of developing an international marketing strategy. It identifies five major areas to consider: market assessment, product decisions, promotion strategies, pricing decisions, and place/distribution strategies. For market assessment, it outlines a five step process involving screening of markets based on import policies, production, demographics, financial/economic conditions, political/legal forces, sociocultural forces, and competition. It then discusses approaches for product strategies, promotion including advertising and personal selling, factors influencing pricing, and considerations for choosing distribution systems in foreign markets.

1. Slide 9.1
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
Marketing strategy
Chapter 11

2. Slide 9.2
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
Introduction
• International marketing is the process of identifying
the goods and services that customers outside the
home country want and then providing them at the
right price.
• Process is similar to that carried out at home but with
some modifications to adapt marketing efforts to the
needs of the specific country or region.

3. Slide 9.3
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
• These changes fall into five major areas
– Market assessment
– Product decisions
– Promotion strategies
– Pricing decisions
– Place/Distribution strategies

4. Slide 9.4
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
International Market Assessment
• An evaluation of the goods and services that the
firm can sell in the global marketplace
• Involves five steps
• Initial screening: Determining the basic need and
potential of the MNEs goods and services in foreign
markets.
– Examine current import policies of other countries
– Determining local production
– Examining demographic changes in the country
• Second screening: Financial and economic
conditions

5. Slide 9.5
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
• Third screening: Political and legal forces
– Entry barriers
– Stability of Govt.
– Protection offered for patents, copyrights and
trademarks
• Fourth screening: Sociocultural forces
• Fifth screening: Competitive environment
• Final selection
– On-site visit

6. Slide 9.6
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
Product Strategies
• Little or no modification
• Moderate to high modification: Depends on a number of
factors
– Economics
– Culture
– Local laws
– Product life cycle

7. Slide 9.7
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
Promotion
• The process of stimulating demand for a company’s
goods and services. Specific approach used depends on
the nature of the product.
• Four variations used in this regard
– Identical product and identical message
– Identical product but different message
– Modified product but same message
– Modified product and modified message

8. Slide 9.8
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
• Advertising
– A non personal form of promotion in which a firm
attempts to persuade consumers of a particular point of
view.
• Personal selling
– A direct form of promotion used to persuade customers
of a particular product

9. Slide 9.9
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
Pricing
• Influenced by a number of factors
– Government controls
• Minimum and maximum price
• Dumping
– Market diversity
• Varying consumer tastes and demands
• Perceived quality of product
– Currency fluctuations
– Price escalation forces

10. Slide 9.10
Alan M Rugman and Simon Collinson, International Business, 5th
Edition, © Pearson Education Limited 2009
Place
• Distribution is the course that goods take between
production and the final consumer.
• Different distribution systems
• Choosing the best distribution system
– Financial strength of the distributor
– Is the distributor well connected?
– Number of product lines the distributor carries