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    Tapping Into Global Markets

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    RifatVanPersie

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    Tapping Into Global Markets

    Uploaded by

    RifatVanPersie
    80 views33 pages

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    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    80 views33 pages

    Tapping Into Global Markets

    Uploaded by

    RifatVanPersie

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 33

    1

    21
    Tapping into
    Global Markets
    Chapter Questions
     What factors should a company review before
    deciding to go abroad?
     How can companies evaluate and select
    specific foreign markets to enter?
     What are the differences between marketing in
    a developing and a developed market?
     What are the major ways of entering a foreign
    market?

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-2


    Chapter Questions
     To what extent must the company adapt its
    products and marketing program to each
    foreign country?
     How do marketers influence country-of-origin
    effects?
     How should the company manage and
    organize its international activities?

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-3


    What is a Global Firm?
    A global firm is one that operates in more
    than one country and captures R&D,
    production, logistical, marketing, and financial
    advantages in its costs and reputation that are
    not available to purely domestic competitors.

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-4


    Major Decisions in
    International Marketing
     Deciding whether to go
     Deciding which markets to enter
     Deciding how to enter
     Deciding on the marketing program
     Deciding on the marketing organization

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-5


    Reasons for Pursuing
    Global Markets
     Better profit opportunities
     Larger customer base to achieve economies
    of scale
     Less dependence on any one market
     Desire to counterattack global competitors in
    their home markets
     Customers require international service

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-6


    Risks to Going Abroad
     Lack of knowledge of foreign culture
     Lack of understanding of foreign needs
     Lack of understanding of foreign regulations
     Lack of managers with international expertise
     Changes in the country environment

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-7


    Four Stages of Internationalization

     Stage 1: No regular export activities


     Stage 2: Export via independent agents
     Stage 3: Establish sales subsidiaries
     Stage 4: Establish production facilities abroad

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-8


    Markets to Enter

    Waterfall Approach

    Sprinkler Approach

    Born Global

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-9


    Local Dynamos

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-10


    Regional Free Trade Zones
     European Union
     NAFTA
     MERCOSUL
     APEC
     ASEAN

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-11


    Key Emerging Markets
     Brazil  China
     Russia  Indonesia
     India  South Africa

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-12


    Five Modes of Entry
    into Foreign Markets
     Indirect exporting
     Direct exporting
     Licensing
     Joint ventures
     Direct investment

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-13


    Indirect Exporting Methods

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-14


    Direct Exporting Methods
     Domestic-based export department
     Overseas sales branch or subsidiary
     Traveling export sales representatives
     Foreign-based distributors or agents

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-15


    Licensing

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-16


    Joint Ventures

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-17


    Direct Investment

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-18


    Table 21.2 Global Marketing
    Advantages Disadvantages
     Economies of scale  Differences in
     Lower marketing costs consumer needs,
     Power and scope wants, usage patterns
     Consistency in brand  Differences in
    image consumer response to
     Ability to leverage marketing mix
     Uniformity of marketing  Differences in brand
    practices development process
     Differences in
    environment

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-19


    Cultural Dimensions
     Individualism vs. collectivism
     Masculine vs. feminine
     High vs. low power distance
     Weak vs. strong uncertainty avoidance

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-20


    What Marketing Aspects Might Be
    Adapted for International Marketing?
     Product features  Brand name
     Labeling  Packaging
     Colors  Advertising
     Materials execution
     Sales promotion  Prices
     Advertising media  Advertising themes

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-21


    Commandments of Global Branding

     Understand similarities and differences in the


    global branding landscape
     Do not take shortcuts in brand building
     Establish a marketing infrastructure
     Embrace integrated marketing
    communications
     Establish brand partnerships

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-22


    Commandments of Global Branding

     Balance standardization and customization


     Balance global and local control
     Establish operable guidelines
     Implement a global brand-equity measurement
    system
     Leverage brand elements

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-23


    Figure 21.3 Five International
    Product and
    Communication Strategies

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-24


    Product Adaptation
     Straight extension vs Product Adaptation
     Production of regional product versions
     Production of country versions
     Production of city versions
     Production of retailer versions

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-25


    Communication Adaptation
     Advertisement message
     Advertisement theme
     Brand endorsement
     Use of consumer insights
     Use of media (TV Channels, Print Media)
     Mobile marketing
     Personal selling

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-26


    Price Choices
     Set a uniform price everywhere
     Set a market-based price in each country
     Set a cost-based price in each country

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-27


    What is a Gray Market?

    A gray market consists of branded


    products diverted from normal or authorized
    distributions channels in the country of
    product origin or cross international
    borders; dealers in lower priced countries
    sell products in higher priced countries

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-28


    Whole-Channel Concept for
    International Marketing
     Seller
     International headquarters
     Channels between nations
     Channels within nations
     Final buyers

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-29


    Country of Origin Effects

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-30


    The Marketing Organization

    Export Departments

    International Divisions

    Global Organization

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-31


    For Review
     What factors should a company review
    before deciding to go abroad?
     How can companies evaluate and select
    specific foreign markets to enter?
     What are the differences between marketing
    in a developing and a developed market?
     What are the major ways of entering a
    foreign market?

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-32


    For Review
     To what extent must the company adapt its
    products and marketing program to each
    foreign country?
     How do marketers influence country-of-origin
    effects?
     How should the company manage and
    organize its international activities?

    Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 21-33

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