REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More...
-
Upload
homer-gray -
Category
Documents
-
view
220 -
download
2
Transcript of REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More...
![Page 1: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/1.jpg)
REACHING GLOBAL
MARKETS
CHAPTER
![Page 2: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/2.jpg)
Marketing that targets
customers throughout
the world.
More customers=more money. Good thing, right?
Global Marketing
![Page 3: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/3.jpg)
Protectionism
Hurts or Helps Domestically?
![Page 4: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/4.jpg)
How protectionism affects world trade
Quota Tariff
World Trade Organization (WTO)- “Referee” for global trade
![Page 5: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/5.jpg)
Lets Make “Domestic” Bigger!
• Economic community– An organization of nations formed to promote the free movement of resources and products among its members and to create common economic policies
![Page 6: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/6.jpg)
Examples of Economic Communities
MERCOSURNAFTA
OPEC
![Page 7: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/7.jpg)
Global Companies
• International Firm – each market is identical
• Multinational Firm - each market is unique
• Transnational Firm –emphasizes similarities,recognize differences
No Borders, New Rules
![Page 8: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/8.jpg)
Multi-domestic Marketing Strategy
Global Brand
Global Marketing Strategy
Global Companies & Marketing Strategies
![Page 9: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/9.jpg)
Things to Consider When Going Global
![Page 10: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/10.jpg)
Economic Considerations
Economic Infrastructure - Communications PowerDistributionMonetary systems
Consumer Income - Level AND buying power
![Page 11: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/11.jpg)
Political – Regulatory Climate
Political Stability
Trade Regulations-Its legal here, but is it legal there?HealthPromotionalEnvironmental
No private ownershipMinimal individual freedom
Little central governmentMaximum personal freedom
![Page 12: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/12.jpg)
GLOBAL MARKET-ENTRY STRATEGIES
RISK
ExportingJointVenture
DirectInvestment
Licensing &Contract Mfg
![Page 13: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/13.jpg)
SameSameProductProduct
One ProductOne MessageOne ProductOne Message
Product AdaptationProduct
Adaptation
MessageAdaptationMessage
AdaptationProduct InventionProduct Invention
SameSameMessageMessage
ChangeChangeMessageMessage
ChangeChangeProductProduct
Product and Promotion Strategies for Global Marketing
![Page 14: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/14.jpg)
Pricing Strategy
Hurts the local businesses
Gray Market or Parallel Importing – (individuals)
Dumping – (companies)
![Page 15: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/15.jpg)
Pricing Strategy
Countertrade - a form of trade in which the payment for goods and services is in the form of other goods and services
Hurts the local governments
![Page 16: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/16.jpg)
Protectionism
Protectionism is the practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas.
Protectionism is the practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas.
![Page 17: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/17.jpg)
Tariff
A tariff is a government tax on goods or services entering a country, primarily serving to raise prices on imports.
A tariff is a government tax on goods or services entering a country, primarily serving to raise prices on imports.
![Page 18: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/18.jpg)
Quota
A quota is a restriction placed on the amount of of a product allowed to enter or leave a country.
A quota is a restriction placed on the amount of of a product allowed to enter or leave a country.
![Page 19: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/19.jpg)
World Trade Organization
The World Trade Organization (WTO) is a permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions.
The World Trade Organization (WTO) is a permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions.
![Page 20: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/20.jpg)
Multidomestic Marketing Strategy
A multidomestic marketing strategy is used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.
A multidomestic marketing strategy is used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.
![Page 21: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/21.jpg)
Global Marketing Strategy
A global marketing strategy is used by transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
A global marketing strategy is used by transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
![Page 22: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/22.jpg)
Global Brand
A global brand is a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs.
A global brand is a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs.
![Page 23: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/23.jpg)
Exporting is producing goods in one country and selling them in another country.
Exporting is producing goods in one country and selling them in another country.
Exporting
![Page 24: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/24.jpg)
A joint venture is when a foreign country and a local firm invest together to create a local business.
A joint venture is when a foreign country and a local firm invest together to create a local business.
Joint Venture
![Page 25: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/25.jpg)
A gray market is a situation where products are sold through unauthorized channels of distribution. Also called parallel importing.
A gray market is a situation where products are sold through unauthorized channels of distribution. Also called parallel importing.
Gray Market
![Page 26: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/26.jpg)
Direct investment entails a domestic firm actually investing in and owning a foreign subsidiary or division.
Direct investment entails a domestic firm actually investing in and owning a foreign subsidiary or division.
Direct Investment
![Page 27: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/27.jpg)
Direct investment entails a domestic firm actually investing in and owning a foreign subsidiary or division.
Licensing is the legal process allowing the use of manufacturing, patents and/or knowledge.
Licensing
![Page 28: REACHING GLOBAL MARKETS C HAPTER. Marketing that targets customers throughout the world. More customers=more money. Good thing, right? Global Marketing.](https://reader036.fdocuments.net/reader036/viewer/2022070409/56649e905503460f94b951e4/html5/thumbnails/28.jpg)
Dumping is when a firm sells aproduct in a foreign country belowits domestic price or below its actual cost.
Dumping is when a firm sells aproduct in a foreign country belowits domestic price or below its actual cost.
Dumping