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Marketing (4th Edition) by Grewal & Levy, McGraw-Hill - Irwin, 2014.

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Principles of Marketing MKT3010 Chapter 8 Global Marketing Patricia Knowles, Ph.D. Associate Professor Clemson University 1
2 Principles of Marketing MKT3010 2 Global Marketing These are the learning objectives guiding the chapter and will be explored in more detail in the following slides. Describe the components of a country market assessment. Understand the marketing opportunities in BRIC countries. Identify the various market entry strategies. Highlight the similarities and differences between a domestic marketing strategy and a global marketing strategy. LO1 LO2 LO3 LO4
33 Assessing Global Markets Any entry into a new market, especially into a new country, requires careful planning. A formal market assessment prevents firms from making costly mistakes. Principles of Marketing MKT3010 General economic environment Market size and population growth Real income Economic analysis using metrics Transportation Channels Communication Commerce Infrastructure and technology Tariff Quota Exchange control Trade agreement Government actions Power distance Uncertainty avoidance Individualism Masculinity Time orientation Sociocultural analysis
44 Economic Analysis: General Economic Environment Principles of Marketing MKT3010 Each of these standardized measures allow for comparisons across countries. The use of each depends on specific circumstances. Many reports now feature GNI rather than GDP, because it includes the economic impact of firms that earn income from their global operations, unlike GDP, which dramatically undercounts the impact of those activities on the economy of the firms home markets. The human development index is interesting to students. Gross domestic product Gross national income Purchasing power parity Human development index
55 Evaluating Market Size and Population Growth Rate Principles of Marketing MKT3010 Population 2002 Population 2050 REUTERS/Arko Datta/Corbis.
66 Evaluating Real Income Principles of Marketing MKT3010 Firms can make adjustments to an existing product or change the price to meet the unique needs of a particular country market. NarinderNanu/AFP/GettyImagesREUTERS/FayzaKabli
77 Analyzing Infrastructure and Technological Capabilities Principles of Marketing MKT3010 A firms ability to conduct business in a particular country is in large measure determined by that countrys infrastructure. Communication Commerce Transportation Distribution Channel Stockdisc 息MIXA/PunchStock Royalty-Free/CORBIS PhotoLink/GettyImages
88 Analyzing Government Actions Principles of Marketing MKT3010 This category includes not just the impact of governmental actions but also those of non- governmental organizations (NGOs). Government actions Quota Exchange control Trade agreement Tariff
99 Principles of Marketing MKT3010 Analyzing Sociocultural Factors Perhaps no other aspect of globalization has posed more difficulties to marketers than culture. Outsiders often have trouble understanding the detailed meanings associated with proper communication in a foreign culture. CulturePower distance Uncertainty avoidance Individualism Masculinity Time orientation
1010 Principles of Marketing MKT3010 Check Yourself 1. What are key metrics that can help analyze the economic environment of a country? 2. What types of government actions should we be concerned about as we evaluate a country? 3. What are five important cultural dimensions? 4. Why are each of the BRIC countries viewed as potential candidates for global expansion?
1111 Choosing a Global Entry Strategy Principles of Marketing MKT3010 Risk Control Direct Investment Export Joint Venture Strategic Alliance Franchising
1212 Check Yourself Principles of Marketing MKT3010 1. Which global entry strategy has the least risk and why? 2. Which global entry strategy has the most risk and why?
1313 Choosing a Global Marketing Strategy: Target Market (STP) Principles of Marketing MKT3010 Adjusting the marketing mix and positioning strategy to meet the needs of a new market may represent the most complex topic for global marketing. Cultural nuances Subcultures View of product and consumer role Different positioning Adaptation Single positioning strategyCourtesy Ford India Pvt. Ltd.
1414 The Global Marketing Mix: Product or Service Strategies Principles of Marketing MKT3010 Sell the same product or service in both the home country market and host country Sell a product or service similar to that sold in home country but include minor adaptations Sell totally new products or services
1515 Global Marketing Mix: Pricing Strategies Principles of Marketing MKT3010 In addition to competitive, cost, and other considerations, global pricing involves additional dimensions that increase its complexity. PriceTariffs Quotas Anti-dumping Policies Economic Conditions Competitive factors
1616 Global Marketing Mix: Global Distribution Strategies Principles of Marketing MKT3010 Delivering products to local retailers can be incredibly difficult and frustrating. Infrastructure issues often prevent traditional distribution methods and require creative adjustments. Global firms must find distribution strategies that enable them to reach even really remote markets. For instance, Avon sells and delivers cosmetics to customers using canoes. This example could also prompt an ethical discussion on whether or not firms should be marketing hedonic products or services to consumers with very little disposable income. Courtesy of CJ Tucker, NASA/GSFC Some global channels are very long and complex. Consumer shop local small local stores. Suppliers must be creative in delivering to these outlets.
1717 Global Marketing Mix: Global Communication Strategies Principles of Marketing MKT3010 Literacy levels vary by country Firms choose whether to adapt to language differences Cultural and religious differences also matter Photo by Jeff Kravitz/FilmMagic/Getty Images
1818 Check Yourself Principles of Marketing MKT3010 1. What are the components of a global marketing strategy? 2. What are the three global product strategies?
1919 Glossary Principles of Marketing MKT3010 Boycott pertains to a groups refusal to deal commercially with some organization to protest against its policies. Cultural imperialism is the belief that ones own culture is superior to that of other nations. Exchange control refers to the regulation of a countrys currency exchange rate, the measure of how much one currency is worth in relation to another. General Agreement on Tariffs and Trade (GATT)s purpose was to lower trade barriers such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders. Infrastructure is the basic facilities, services, and installations needed for a community or society to function.
2020 Glossary Principles of Marketing MKT3010 Quota designates the maximum quantity of a product that may be brought into a country during a specified time period. Tariff is a tax levied on a good imported into a country. Trade agreement is an intergovernmental agreement designed to manage and promote trade activities for a specific region.

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Ppt Chapter 8

  • 1. Principles of Marketing MKT3010 Chapter 8 Global Marketing Patricia Knowles, Ph.D. Associate Professor Clemson University 1
  • 2. 2 Principles of Marketing MKT3010 2 Global Marketing These are the learning objectives guiding the chapter and will be explored in more detail in the following slides. Describe the components of a country market assessment. Understand the marketing opportunities in BRIC countries. Identify the various market entry strategies. Highlight the similarities and differences between a domestic marketing strategy and a global marketing strategy. LO1 LO2 LO3 LO4
  • 3. 33 Assessing Global Markets Any entry into a new market, especially into a new country, requires careful planning. A formal market assessment prevents firms from making costly mistakes. Principles of Marketing MKT3010 General economic environment Market size and population growth Real income Economic analysis using metrics Transportation Channels Communication Commerce Infrastructure and technology Tariff Quota Exchange control Trade agreement Government actions Power distance Uncertainty avoidance Individualism Masculinity Time orientation Sociocultural analysis
  • 4. 44 Economic Analysis: General Economic Environment Principles of Marketing MKT3010 Each of these standardized measures allow for comparisons across countries. The use of each depends on specific circumstances. Many reports now feature GNI rather than GDP, because it includes the economic impact of firms that earn income from their global operations, unlike GDP, which dramatically undercounts the impact of those activities on the economy of the firms home markets. The human development index is interesting to students. Gross domestic product Gross national income Purchasing power parity Human development index
  • 5. 55 Evaluating Market Size and Population Growth Rate Principles of Marketing MKT3010 Population 2002 Population 2050 REUTERS/Arko Datta/Corbis.
  • 6. 66 Evaluating Real Income Principles of Marketing MKT3010 Firms can make adjustments to an existing product or change the price to meet the unique needs of a particular country market. NarinderNanu/AFP/GettyImagesREUTERS/FayzaKabli
  • 7. 77 Analyzing Infrastructure and Technological Capabilities Principles of Marketing MKT3010 A firms ability to conduct business in a particular country is in large measure determined by that countrys infrastructure. Communication Commerce Transportation Distribution Channel Stockdisc 息MIXA/PunchStock Royalty-Free/CORBIS PhotoLink/GettyImages
  • 8. 88 Analyzing Government Actions Principles of Marketing MKT3010 This category includes not just the impact of governmental actions but also those of non- governmental organizations (NGOs). Government actions Quota Exchange control Trade agreement Tariff
  • 9. 99 Principles of Marketing MKT3010 Analyzing Sociocultural Factors Perhaps no other aspect of globalization has posed more difficulties to marketers than culture. Outsiders often have trouble understanding the detailed meanings associated with proper communication in a foreign culture. CulturePower distance Uncertainty avoidance Individualism Masculinity Time orientation
  • 10. 1010 Principles of Marketing MKT3010 Check Yourself 1. What are key metrics that can help analyze the economic environment of a country? 2. What types of government actions should we be concerned about as we evaluate a country? 3. What are five important cultural dimensions? 4. Why are each of the BRIC countries viewed as potential candidates for global expansion?
  • 11. 1111 Choosing a Global Entry Strategy Principles of Marketing MKT3010 Risk Control Direct Investment Export Joint Venture Strategic Alliance Franchising
  • 12. 1212 Check Yourself Principles of Marketing MKT3010 1. Which global entry strategy has the least risk and why? 2. Which global entry strategy has the most risk and why?
  • 13. 1313 Choosing a Global Marketing Strategy: Target Market (STP) Principles of Marketing MKT3010 Adjusting the marketing mix and positioning strategy to meet the needs of a new market may represent the most complex topic for global marketing. Cultural nuances Subcultures View of product and consumer role Different positioning Adaptation Single positioning strategyCourtesy Ford India Pvt. Ltd.
  • 14. 1414 The Global Marketing Mix: Product or Service Strategies Principles of Marketing MKT3010 Sell the same product or service in both the home country market and host country Sell a product or service similar to that sold in home country but include minor adaptations Sell totally new products or services
  • 15. 1515 Global Marketing Mix: Pricing Strategies Principles of Marketing MKT3010 In addition to competitive, cost, and other considerations, global pricing involves additional dimensions that increase its complexity. PriceTariffs Quotas Anti-dumping Policies Economic Conditions Competitive factors
  • 16. 1616 Global Marketing Mix: Global Distribution Strategies Principles of Marketing MKT3010 Delivering products to local retailers can be incredibly difficult and frustrating. Infrastructure issues often prevent traditional distribution methods and require creative adjustments. Global firms must find distribution strategies that enable them to reach even really remote markets. For instance, Avon sells and delivers cosmetics to customers using canoes. This example could also prompt an ethical discussion on whether or not firms should be marketing hedonic products or services to consumers with very little disposable income. Courtesy of CJ Tucker, NASA/GSFC Some global channels are very long and complex. Consumer shop local small local stores. Suppliers must be creative in delivering to these outlets.
  • 17. 1717 Global Marketing Mix: Global Communication Strategies Principles of Marketing MKT3010 Literacy levels vary by country Firms choose whether to adapt to language differences Cultural and religious differences also matter Photo by Jeff Kravitz/FilmMagic/Getty Images
  • 18. 1818 Check Yourself Principles of Marketing MKT3010 1. What are the components of a global marketing strategy? 2. What are the three global product strategies?
  • 19. 1919 Glossary Principles of Marketing MKT3010 Boycott pertains to a groups refusal to deal commercially with some organization to protest against its policies. Cultural imperialism is the belief that ones own culture is superior to that of other nations. Exchange control refers to the regulation of a countrys currency exchange rate, the measure of how much one currency is worth in relation to another. General Agreement on Tariffs and Trade (GATT)s purpose was to lower trade barriers such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders. Infrastructure is the basic facilities, services, and installations needed for a community or society to function.
  • 20. 2020 Glossary Principles of Marketing MKT3010 Quota designates the maximum quantity of a product that may be brought into a country during a specified time period. Tariff is a tax levied on a good imported into a country. Trade agreement is an intergovernmental agreement designed to manage and promote trade activities for a specific region.