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.
Global marketing - products & services for consumersRECONNECT
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International Marketing Management - International Marketing Research & Segme...SOMASUNDARAM T
Breadth and scope of international marketing research; multicultural research - a special problem; responsibility for conducting marketing research; communicating with decision makers. Identifying foreign markets; classification based on demand, based on the stage of development and other bases for division of world markets
Slide chapter 1 : The Scope and Challenge of
International Marketing - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham.
International Marketing Management - IntroductionSOMASUNDARAM T
Definition; scope and challenges; difference between international marketing and domestic marketing; the dynamic environment of international trade; transition from domestic to international markets orientation of management and companies; international marketing environment.
Slide chapter 16 : Integrated Marketing Communications
and International Advertising - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham
Global firms plan, operate and coordinate their activities on a worldwide basis.The firm will price its products appropriately worldwide, nationally and locally, and promote, deliver access and information to its customers in the most cost-effective way.,
The firm will price its products appropriately worldwide, nationally and locally, and promote, deliver access and information to its customers in the most cost-effective way.,
It operates in more than one country and captures R & D, production, logistical, marketing, and financial advantages not available to purely domestic competitors.
Marketing Plan, Financial Requirements, Organization Strategy, and
Strategic Options when expanding to the international arena. This report tackles the key aspects MNCs need to consider as they enter new international markets.
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.
Global marketing - products & services for consumersRECONNECT
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
International Marketing Management - International Marketing Research & Segme...SOMASUNDARAM T
Breadth and scope of international marketing research; multicultural research - a special problem; responsibility for conducting marketing research; communicating with decision makers. Identifying foreign markets; classification based on demand, based on the stage of development and other bases for division of world markets
Slide chapter 1 : The Scope and Challenge of
International Marketing - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham.
International Marketing Management - IntroductionSOMASUNDARAM T
Definition; scope and challenges; difference between international marketing and domestic marketing; the dynamic environment of international trade; transition from domestic to international markets orientation of management and companies; international marketing environment.
Slide chapter 16 : Integrated Marketing Communications
and International Advertising - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham
Global firms plan, operate and coordinate their activities on a worldwide basis.The firm will price its products appropriately worldwide, nationally and locally, and promote, deliver access and information to its customers in the most cost-effective way.,
The firm will price its products appropriately worldwide, nationally and locally, and promote, deliver access and information to its customers in the most cost-effective way.,
It operates in more than one country and captures R & D, production, logistical, marketing, and financial advantages not available to purely domestic competitors.
Marketing Plan, Financial Requirements, Organization Strategy, and
Strategic Options when expanding to the international arena. This report tackles the key aspects MNCs need to consider as they enter new international markets.
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.
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
Introduction To be successive in the global market,.docxvrickens
Introduction
To be successive in the global market, each organization need to have a global marketing mix and global mindset. In other words, multinational and national organizations require structuring their process such that they meet the global standards to compete effectively with others. The initiative considers marketing within an integrated economy, which is stateless and with minimal restrictions. According to De Mooij (2018), global marketing involves understanding the different cultural paradoxes to achieve global competitiveness. Although the state of globalization is low for developing countries, the developed countries are making well-integrated markets. The global marketing activities must be integrated at a global level (Gillespie, & Riddle, 2015). One critical consideration is that there is a need to address the forces of globalization and localization. As a marketer, there is the need to think strategically since the global market present different challenges, and as such, the need to respond decisively to the competitive market. The marketing strategies need to be defined to enhance cost reduction to achieve profitability at the worldwide market. From the performance of different multinational companies, it is clear that real change has been taking place within the business planning focus (Gluck, Kaufman, &Walleck, n.d.). In the marketing, initiative organization needs to be committed to building a strong brand name, which will be recognized worldwide to overcome these barriers.
Globalization has changed the way of doing business, especially in developed countries such as the US. Managers need to be oriented to other cultures in their way of doing business to achieve alternative benefits. The ability to adapt and use the style which is most acceptable to the particular country market is a characteristic of having a global mindset. The world economies have been transformed significantly, and hence, all organizations need to be proactive in using diversity. For leaders to influence the multicultural world and business environment, they need to have a global mindset. The unicultural lens that initially helped employees to interpret and understand their surroundings is now a critical obstacle in performing business today, especially in the developed countries (Javidan, 2010 May 19). This paper is based on the discussion of global marketing strategies, globalization, and the need to have a global mindset. A global strategy such as a global mindset and global marketing strategies are crucial for survival in the current international market since there is a critical transformation of the worldwide economies through global connectedness.
(2) Global Marketing Mix
The global marketing strategies refer to the initiatives to coordinate the marketing efforts from different regions of the world. For all the elements of the marketing mix such as product, place, price, and promotion, the marketer reconsider the need to include ch ...
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The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
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Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
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How to Make a Field invisible in Odoo 17Celine George
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4. International Product Life Cycle (cont.)
Export strength is evident by innovator country:
(Introduction)
The product is innovated in the developed countries because they possess
the resources to do so. The firms have the technological know how and
sufficient capital to invest on the research and development activities. The
need of adaptation and modification also forces the production activities
to be located near the market to respond quickly to the changes.
(Standardization or Adaptation)
5. International Product Life Cycle (cont.)
Foreign production starts: (Growth)
The importing firms in the middle income country realise the demand
potential of the product in the home market. The manufacturers also
become familiar in producing the goods. The growing demand of the
products attracts the attention of many firms. They are tempted to start
production in their country and gradually start exporting to the low
income countries.
6. International Product Life Cycle (cont.)
Foreign production becomes competitive in export
market : (Maturity)
The firms in low income country also realize the demand potential in the
domestic market. They start producing the products in their home country
by exploiting cheap labor. They gain expertise in manufacturing the
commodity.
7. International Product Life Cycle (cont.)
Import Competition begins (Decline):
The producers in the low income importing country gain sufficient
experience in producing and marketing the products. They attain the
economies of scale and gradually become more efficient than the
innovator country.
8. International Product Policy
A firm's product policy reflects its marketing orientation.
Following the framework of International Product Life Cycle, a
firm may begin exporting the products it sells in the domestic
market. Alternatively, it may recognize the significant
differences in customer needs, conditions of product use, etc.,
and may plan for exporting different products or product
versions to meet the specific needs of each of its different
global market segments. In the latter case, the exporting firm
would thus offer a large product mix.
9. Standardization
Standardization means an undifferentiated use of the same Marketing Mix
(4-7Ps) in all countries. In this case, the firm simply replicates, without any
changes, the same strategy in the different markets in which it operates. In
general, firms that adopt the standardization strategy are those that are
exporting for the first time, or those that focus on cost savings through
economies of scale and for whom an adaptation process could result very
costly.
10. Adaptation
Adaptation means that each country/market has its Marketing Mix. The
adaptation strategy is geared towards meeting the needs of the market,
planning all business activities with the aim of efficiently meeting the
specific needs and respecting the values of local consumers. We can take
as an example beer companies. When entering a new market we can see
that one country can prefer non-alcoholic beer. The company then has to
adapt to the situation and, for instance, decide to produce more beer
which results preferable for the chosen country/market.
14. International Approach to Marketing
Segmentation
Macro Segmentation
Dividing the market into subgroups based on overall characteristics of the
prospect organization. It identifies clusters of countries that demand
similar products. e.g. Geographic and Demographic Segmentation
Micro Segmentation
Dividing the market in to subgroups based on specific characteristics of
the decision-making process and buying structure of the prospect
organization, e.g. Psychographic and Behavioral Segmentation
15. Influences on Marketing Plan and
Budget
Internal Influences
Finances: This includes your profit objectives, your marketing budget, and your expectations for
a return on the money you spend.
Governance: This covers the guidelines that determine what your company can and cannot do.
It can include legal restrictions on what you can say in your advertising, how much you can
charge for your products, or policies set out by the board of directors.
Ethics and Culture: This is often unspoken in a small business, but every company has its own
culture based on shared values of the owners, managers and employees that affect how things
are done.
Pricing: The pricing strategy portion of the marketing plan involves determining how you will
price your product or service. Finding the ideal price means choosing a pricing strategy that’s
appropriate for your company’s circumstances.
16. Influences on Marketing Plan and
Budget
External Influences
Economic environment :The key factor in determining demand. E.g. many marketing objectives have been thwarted or
changed as a result of the recession. Factors such as exchange rates would also impact objectives concerned with
international marketing.
Competitor actions: Marketing objectives have to take account of likely / possible competitor response. E.g. an objective
of increasing market share by definition means that competitor response will not be effective
Market dynamics :The key market dynamics are market size, growth and segmentation. Changes in any of these
undoubtedly influence marketing objectives. A market whose growth slows is less likely to support an objective of
significant revenue growth or new product development
Technological change: Consumer and other markets are now affected by rapid technological change, shortening product
life cycles and creating great opportunities for innovation. These have to be taken into account when setting marketing
objectives.
Social & political change: Changes to legislation may create or prevent marketing opportunities. Change in the structure
and attitudes of society also have major implications for many markets.
17. International Services Marketing
Services are intangible products generally delivered through interactive channels. They are
offered either as primary products or as supplementary components. For example, legal
counseling is a primary service while computer networking is complimentary.
International service marketing looks to create awareness of new and existing services in
the target markets and public domains of foreign countries.
Social Media platforms such as Facebook, Twitter, and Instagram are the few examples of
services that are used internationally.
International Networks
Service businesses that build and maintain international networks build close relationships
with customers. This allows them to raise sales while expanding their market presence
abroad. Taking advantage of Internet-based promotional and networking platforms, such as
social media, lets them reap maximum benefits in market penetration strategies. Digital
platforms are particularly useful for small and medium-size service companies engaging in
international promotion because they are fairly affordable and easily accessible.
18. International Services Marketing
Promoting Differentiation
International service marketing is an important platform for brand
differentiation among service companies offering similar and related products
in foreign markets. Indeed, brand recognition enables service companies to
stand out and remain competitive. That makes promotional campaigns that
engages the audience while establishing brand awareness as critical as the
investment required to operate on an international basis.
19. Conclusion
International product policy and planning plays a crucial role in the
successful management of international marketing operations.
Aimed at seizing the market opportunity, it focuses on the basic
decision of whether to export the domestic standardized product or
to adapt or even develop a new product for the global markets.
Although global marketing of the standardized product is more
convenient and profitable, yet customer needs, competitive
pressures and legal considerations require the product to be
adapted-to even the newly developed needs.
Implementation of the product policy requires planning of the
width and depth of the product-mix.
