CHAPTER GLOBAL MARKETING 07 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc....

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CHAPTER GLOBAL MARKETING 07 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

Transcript of CHAPTER GLOBAL MARKETING 07 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc....

Page 1: CHAPTER GLOBAL MARKETING 07 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

CHAPTER

GLOBALMARKETING

07

McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

Page 2: CHAPTER GLOBAL MARKETING 07 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

7-2

LEARNING OBJECTIVES

Global Marketing

LO1List the factors that aid in the growth of globalization.

LO2Describe the components of a country market assessment.

LO3Identify the various market entry strategies.

LO4Highlight the similarities and differences between a domestic marketing strategy and a global marketing strategy.

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7-3

Kraft

©Imaginechina Photo Agency

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Growth of Global Market

STR

/AFP

/Gett

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ag

es

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Hiring Overseas

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General Agreement on Tariffs and Trade (GATT)

WTO Website

PhotoLink/Getty Images

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7-7

Assessing Global Markets

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Economic AnalysisGeneral Economic Environment

NationMaster Website

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Evaluating Market Size and Population Growth Rate

Population 2002

Population 2050

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Evaluating Real Income

• Firms can make adjustments to an existing product or change the price to meet the unique needs of a particular country market.

Nari

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Nan

u/A

FP/G

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REU

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S/F

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li

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Analyzing Infrastructure and Technological Capabilities

Communication

Commerce

Transportation

Distribution Channel

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Analyzing Government Actions

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Both benefit domestically made products because they reduce foreign competitionBoth benefit domestically made products because they reduce foreign competition

Tariff and Quotas

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Boycott

Ethical Consumer Website

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pan

ies,

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Exchange Control

Exchange rate CountertradeImage Source/Alamy Stockbyte/Punchstock Images

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Trade Agreements

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The European Union (EU)

• Monetary and Trade Union

• Euro • Membership does

not consists of Croatia, Macedonia, Turkey and several others

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7-18

Analyzing Sociocultural Factors

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Country Clusters

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Spanish Ad

Courtesy Nestlé SA

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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?

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7-22

Choosing a Global Entry Strategy

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Check Yourself

1. Which global entry strategy has the least risk and why?

2. Which global entry strategy has the most risk and why?

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7-24

Choosing a Global Marketing Strategy: Target Market (STP)

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The Global Marketing Mix: Product or Service Strategies

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Global Marketing Mix: Pricing Strategies

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Global Marketing Mix: Global Distribution Strategies

• Some global channels are very long and complex.

• Consumer shop local small local stores.

• Suppliers must be creative in delivering to these outlets.

FedEx Commercial

Courtesy of CJ Tucker, NASA/GSFC

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Global Marketing Mix: Global Communication Strategies

Photo by Jeff Kravitz/FilmMagic/Getty Images

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7-29

Check Yourself

1. What are the components of a global marketing strategy?

2. What are the three global product strategies?


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