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    International Marketing C1

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    phiht224022c
    1. While globalization is increasing integration and standardization across borders, markets still differ significantly in tastes and preferences due to cultural differences. Effective international marketing requires adapting to local conditions rather than a purely standardized global approach. 2. Technology and transportation improvements increase access to foreign markets but government policies and economic conditions still vary greatly between countries, adding risks and complexity to international operations. 3. Some large multinational companies take a more standardized global marketing strategy but most firms still use an adapted multi-domestic approach sensitive to local customs in different regions and countries. A purely geocentric strategy remains difficult to implement fully

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    International Marketing C1

    Uploaded by

    phiht224022c
    12 views24 pages
    1. While globalization is increasing integration and standardization across borders, markets still differ significantly in tastes and preferences due to cultural differences. Effective international marketing requires adapting to local conditions rather than a purely standardized global approach. 2. Technology and transportation improvements increase access to foreign markets but government policies and economic conditions still vary greatly between countries, adding risks and complexity to international operations. 3. Some large multinational companies take a more standardized global marketing strategy but most firms still use an adapted multi-domestic approach sensitive to local customs in different regions and countries. A purely geocentric strategy remains difficult to implement fully

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    1. While globalization is increasing integration and standardization across borders, markets still differ significantly in tastes and preferences due to cultural differences. Effective international marketing requires adapting to local conditions rather than a purely standardized global approach. 2. Technology and transportation improvements increase access to foreign markets but government policies and economic conditions still vary greatly between countries, adding risks and complexity to international operations. 3. Some large multinational companies take a more standardized global marketing strategy but most firms still use an adapted multi-domestic approach sensitive to local customs in different regions and countries. A purely geocentric strategy remains difficult to implement fully

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    12 views24 pages

    International Marketing C1

    Uploaded by

    phiht224022c
    1. While globalization is increasing integration and standardization across borders, markets still differ significantly in tastes and preferences due to cultural differences. Effective international marketing requires adapting to local conditions rather than a purely standardized global approach. 2. Technology and transportation improvements increase access to foreign markets but government policies and economic conditions still vary greatly between countries, adding risks and complexity to international operations. 3. Some large multinational companies take a more standardized global marketing strategy but most firms still use an adapted multi-domestic approach sensitive to local customs in different regions and countries. A purely geocentric strategy remains difficult to implement fully

    Copyright:

    © All Rights Reserved
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    of 24

    Chapter 1

    An Overview
    Objectives
    After completing this chapter, students can:
    1. Understand the concept and the role of IM
    2. Be able to analyze those uncontrollable elements in the foreign
    environment
    3. Identify IM orientations
    Content
    1. An overview of IM
    2. The differences between domestic marketing & IM
    3. The Orientation of IM
    4. IM process

    3
    1.1 The concept of IM
    38% of European SMEs are now 'internationally active’
    i.e. exporting products to at least one other country according to recent
    research
    International marketing focuses on the need to create, communicate
    and deliver value internationally (Czinkota and Ronkainen, 2012).

    International marketing is the performance of business activities


    designed to plan, price, promote, and direct the flow of a company’s
    goods and services to consumers or users in more than one nation for
    a profit. (Philip R. Cateora, 2015)
    Concepts
    “Foreign and domestic marketing are the same in that the purpose is to
    create and manage profitable exchange relationships between an
    organisation and its markets.

    This is done by satisfying the needs and wants of a particular market more
    efficiently than competitors.

    Essentially the same marketing principles, concepts and techniques are used
    internationally as are at home”

    (Toyne & Walters, 1989)


    1.2 Reasons for entering international
    markets
    Domestic market International market Other

    - small, fragmented, - large market size - suppliers follow their


    saturated - market expansion customers
    - slow growth - investment internationally
    - competitive pressure opportunities - extending PLC
    - excess capacity - benefits of
    - compete successfully internationalization
    - policies to promote - search for resources
    foreign
    GROWTH RATE
    PRODUCT UNIQUENESS
    SCALE EFFECTS

    MARKETING
    INTERNATIONAL MARKET
    OPPORTUNITIES
    PROFIT

    DISTRIBUTED RISK
    REDUCE R&D COSTS
    ACCESS TO INPUT
    SOURCES
    Requitements for implementing IM
    • Must maintain the market share and its position within the domestic
    market

    • Build global awareness

    - Cultural immersion
    - Knowledge of different cultures, histories, global market potential &
    economy, social and political trends

    • IM orientation
    IM task
    Marketing Decision Factors
    Controllable elements Uncontrollable elements
    - Marketing mix - Domestic environment
    - Firm characteristics (Political/legal forces, Economic climate,
    - Research Competitive structure)
    - Foreign environment
    (7 factors)
    The Self-Reference Criterion & Ethnocentrism
    • The SRC is an unconscious reference to one’s own cultural values,
    experiences, and knowledge as a basis for decisions.

    • Closely connected is ethnocentrism, that is, the notion that people


    in one’s own company, culture, or country know best how to do
    things.
    Analytical Framework to avoid errors in business
    decisions
    • Define the business problem or goal in home-country cultural traits,
    habits, or norms.
    • Define the business problem or goal in foreign-country cultural traits,
    habits, or norms through consultation with natives of the target country.
    Make no value judgments.
    • Isolate the SRC influence in the problem and examine it carefully to see
    how it complicates the problem.
    • Redefine the problem without the SRC influence and solve for the
    optimum business goal situation.
    Stages of IM Involvement
    No Direct Infrequent Regular Foreign International Global
    Foreign Foreign Marketing Marketing Marketing
    Marketing Marketing
    Do not Temporary Firm has - Fully committed - Treat the world
    actively surpluses permanent to IM activities as on market
    cultivate caused by productive - Seek markets all - market segments
    customers variations in capacity devoted over the world and are defined by
    outside production to the sell products for income levels,
    national levels or production of markets in various usage patterns, or
    boundaries demand goods and countries other factors that
    overseas services to be frequently span
    marketed in countries and
    foreign markets regions
    2. The differences between domestic
    marketing & IM
    Basis for comparison Domestic marketing International marketing
    Business operation In a single country More than one country
    Nature of customers Almost same Variation in customer tastes and
    preferences.
    Area served Small Large
    Government Less Comparatively high
    interference
    Risk factor Low Very high
    Capital requirement Less Huge
    Use of technology Limited Sharing and use of latest technology.
    Research Required but not to a Deep research of the market is required
    very high level. because of less knowledge about the foreign
    markets.
    Comparison of Single-Country Marketing
    Strategy & Global Marketing Strategy
    Single-Country Marketing strategy Global Marketing Strategy

    Target market strategy Global market participation


    MM development MM development
    - Product - Product (adaptation or standardization)
    - Price - Price (adaptation or standardization)
    - Place - Place (adaptation or standardization)
    - Promotion - Promotion (adaptation or standardization)
    Concentration of marketing activities
    Coordination of marketing activities
    Integration of competitive moves
    3. The Orientation of IM
    (Keegan & Green 2007, adapted from Permlutter 1969)
    Ethnocentric Polycentric Regiocentric Geocentric
    orientation orientation orientation orientation

    - do not adapt their - equal importance to - economic, cultural or - to target “global


    products to the needs every country’s domestic political similarities consumers” who have
    and wants of other market among regions similar tastes
    countries where they - believe in uniqueness of - to borrow from every
    have operations every market country what is best
    4. IM process
    Market &
    Select target Product/servic
    potential Develop Implement &
    markets & e planning and
    market marketing mix evaluate MM
    entry modes development
    analysis
    ?
    1. From a marketing perspective consider the evidence for and against
    the idea that we are moving towards a global world.

    2. Bring current international stories relating to organisations, countries


    or people

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