Global Marketing Assignmnet - Nordstrom Global Marketing Plan
Global marketing
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Transcript of Global marketing
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Global Marketin
g
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In Hong Kong, a German businessperson is
driving a Lexus; he’s wearing Bruno Magli shoes, Irish
cashmere socks, an Armani suit, with a Gucci belt. He
has a Mont Blanc pen, in his Italian shirt. He’s going to
meet an American investor at a KFC restaurant, for a
Coke. After lunch, they stop for a Baskin-Robbins
(actually a foreign firm) ice cream sundae. --- OK,
that’s a stretch.
When he gets home, sitting on an ottoman, he has
an Absolut vodka nightcap, while listening to American
country western music.
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AMA’s Definition :
Conception
Pricing
Promotion
Distribution of Ideas, goods and Services
MarketingPlanning
and
Executing
To create exchanges that satisfy individual and organizational Objectives
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The coordinated performance of marketing activities to create exchanges across countries that satisfy individual, organizational , and societal objectives
Global marketing is conducted across countries (not domestic or foreign)
Global marketing coordinates activities across different country markets
Global marketing should be motivated by individual, organizational and societal goals
Global Marketing
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Core Business Strategy
CountryA
CountryB
CountryC
CountryD
Develop CoreBusiness Strategy
Internationalizethe Strategy
Globalizethe Strategy
Global Marketing Evolution
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What is Internationalization ?
• As the process of increasing involvement in international operations.
Why consider going international ?
• To increase overall customer base.• To offset seasonal fluctuations in local markets• To minimize risk of losing market share to clients who themselves use internet to find goods / services in overseas markets• To offset increasing costs of doing business at home• To gain prestige with customers at home .
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Internationalization
Advantage • Spreading business risk• Opportunity to exploit an existing
competitive edge in new markets• Expansion of brand awareness to
new audiences• Increased revenue generation• Possibility of accessing new
technologies / information• Business can be conducted via the
internet thus shortening the communication channels between customers and markets
Disadvantage • cultural and language
barriers• exchange rate fluctuations• religious beliefs• government regulations /
policy on profit repatriation• political instability• economic downturn.
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Major International Marketing Decisions
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RE-INTERNATIONALIZATION
Why Internationalization fail.
What is Re-Internationalization. - Network relation - Unique resource and capability - Change in management global.
Three main set which driven the Re-Internationalization.
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Strategy to enter into International Market.
• Export• Involves using domestic plants as a production base for exporting to
foreign markets.
• Licensing• Has valuable technical know-how or a patented product but does not have
international capabilities or resources to enter foreign markets
• Franchise• Often is better suited to global expansion efforts of service and retailing
enterprise by establishing franchise in particular country.
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• Strategic alliance• Through strategic alliance you can enter into international market.
• Global strategy• Pursue basic strategy world wide.• Sell the same products under the same brand• Production plants located local efficiencies • Best suppliers from anywhere• Coordinated marketing and distribution worldwide
• Multi country strategy• Production plants in each country
– Producing products for that country– Using local suppliers where possible
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CHALLENGES to enter International market
While choosing new markets, MNCs need to consider several factors:
1) Micro factor
2) Macro factor
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Micro factor
• Political/regulatory environment.Tariff barriers - taxes on imports paid to customs officials - include Nontariff barriers• Financial/economic environment.Exchange rate - price of one currency in relation to anotherFiscal policiesMonetary policy• Socio cultural issues and technological infrastructure.Understanding the local culture is the most profitable way of marketing
product and services.
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Macro factor• Competitive considerations.
• Local infrastructure such as transportation & logistics network.
• Availability of mass media for advertising is important.
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What
is
Channel Management ?
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CHANNEL MANAGEMENT involves the strategy; development and alignment of channels or customer inter faces, across your marketing, sales and services.
It is term that business or supplier of products uses various marketing techniques and sales strategy to reach the widest possible customer base.
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It creates the formulized programs for selling
servicing the customers within specific channels
can really impact your business. Customized a
channel management program which includes-
Goals
Policies
Products
Sales and marketing programs
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No longer can a business rely simply on good Customer relations or word of mouth to maintain or improve revenue.
Possibilities for marketing a product or service grow seemingly each day, and keeping track of all of these disparate marketing avenues is not an easy chore.
That is why the concept of channel management has become so prevalent in marketing.
- Restaurant marketing - Business start up tips
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Optimal channel management drives growth and profit- This program addresses the needs of consumer goods and services companies selling through wholesalers and retailers;
Business-to-business firms working through independent distributors and sales representative firms;
Retailers seeking to improve efficiency in an increasingly competitive marketplace; and
Intermediaries seeking to preserve their role in an increasingly fluid channel structure.
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Reduce cost
Improve customer relations
Increase revenue
Building the high performing
sales force
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Implementing Global Marketing
Success will come from a balance between local and regional / global concerns.
“Think globally, act locally” is the operative phrase for global marketers competing in country markets.
Product choices should consider individual markets as well as transfer products from one region to another.
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Localizing Global Marketing
Management processes - Enhance the global transfer of communications - Interchange personnel to gain experience abroad Headquarters should coordinate and leverage
resources Permit local managers to develop their own
programs within defined parameters
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Organization structures - The shift to global account management Corporate culture - The world is not one single market - Plan and execute programs on a worldwide basis - A global Identity favors no specific country
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Campus Overview
907/A Uvarshad, GandhinagarHighway, Ahmedabad – 382422.
Ahmedabad Kolkata
Infinity Benchmark, 10th Floor, Plot G1,Block EP & GP, Sector V, Salt-Lake, Kolkata – 700091.
Mumbai
Goldline Business Centre Linkway Estate, Next to Chincholi Fire Brigade, Malad (West), Mumbai – 400 064.
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Thank You