Go Global !Global Economic Environment :Global Economic Environment :Market SegmentationMarket Segmentation

By

Stephen OngStephen OngEdinburgh Napier University Business School

chong@mail.tarc.edu.myVisiting Professor, College of Management, Shenzhen

University9 September 2012

AgendaAgenda

1.1. Market SegmentationMarket Segmentation2.2. TargetingTargeting3.3. PositioningPositioning4.4. Perceptual MappingPerceptual Mapping5.5. Market entry strategiesMarket entry strategies

Learning Objectives

To understand and explain the principles of market segmentation

To identify criteria for effective segmentation of consumer and organisational markets

To understand targeting strategies

To explain what positioning means and how it is achieved

Introduction

• How to identify like groups of potential customers?

• How to chose the groups to target?

• How to segment those groups?

• How to position the brand in the mind of the customer?

Market SegmentationRepresents an effort to identify and

categorize groups of customers and countries according to common characteristics

77.5 million dogs are owned in the U.S.

Who owns whom?

Targeting

• The process of evaluating segments and focusing marketing efforts on a country, region, or group of people that has significant potential to respond

• Focus on the segments that can be reached most effectively, efficiently, and profitably

Positioning• Positioning is required to differentiate the

product or brand in the minds of the target market.

Global Market Segmentation

• Defined as the process of identifying specific segments—whether they be country groups or individual consumer groups—of potential customers with homogeneous attributes who are likely to exhibit similar responses to a company’s marketing mix.

Contrasting Views of Global Segmentation

• Conventional Wisdom– Assumes heterogeneity

between countries– Assumes homogeneity

within a country– Focuses on macro level

of cultural differences– Relies on clustering of

national markets– Less emphasis on

within-country segments

Unconventional Wisdom Assumes emergence of

segments that transcend national boundaries

Recognizes existence of within-country differences

Emphasizes micro-level differences

Segments micro markets within and between countries

Global Market Segmentation

• Demographics• Psychographics• Behavioral

characteristics• Benefits sought

Skiing became a sport in Norway where it was invented 4,000 years ago.

Demographic Segmentation

• Income• Population• Age distribution• Gender• Education• Occupation

What are the trends?

Demographic Facts and Trends

• In India the number of people under the age of 14 is greater than the entire US population

• In the EU, the number of consumers aged 16 and under is rapidly approaching the number of consumers aged 60-plus

• Asia is home to 500 million consumers aged 16 and under

• Half of Japan’s population will be age 50 or older by 2025

• A widening age gap exists between the older populations in the West and the large working-age populations in developing countries

• In the European Union, the number of consumers aged 16 and under is rapidly approaching the number of consumers aged 60-plus

• Asia is home to 500 million consumers aged 16 and under

• Half of Japan’s population will be age 50 or older by 2025

Demographic Segmentation

Segmenting by Income and Population• Income is a valuable segmentation variable

–2/3s of world’s GNP is generated in the Triad but only 12% of the world’s population is in the Triad

• Do not read into the numbers

–Some services are free in developing nations so there is more purchasing power

• For products with low enough price, population is a more important variable

Per Capita Income

10 Most Populous Countries

Age Segmentation

• Global Teens-between the ages of 12 and 19

– A group of teenagers randomly chosen from different parts of the world will share many of the same tastes

• Global Elite–affluent consumers who are well traveled and have the money to spend on prestigious products with an image of exclusivity

Gender Segmentation

In focusing on the needs and wants of one gender, do not miss opportunities to serve the other

Companies may offer product lines for both gendersNike, Levi Strauss

Psychographic Segmentation

Grouping people according to attitudes, values, and lifestyles SRI International and VALS 2

Porsche exampleTop Guns (27%): Ambition,

power, control Elitists (24%): Old money, car is

just a carProud Patrons (23%): Car is

reward for hard workBon Vivants (17%): Car is for

excitement, adventureFantasists (9%): Car is form of

escape

Psychographic Segmentation

The Euroconsumer:Successful Idealist–Comprises from 5% to

20% of the population; consists of persons who have achieved professional and material success while maintaining commitment to abstract or socially responsible ideals

Affluent Materialist– Status-conscious up-up-and-comersand-comers’’– many of whom are business professionals – use conspicuous consumption to communicate their success to others

Psychographic SegmentationThe Euroconsumer:

Comfortable Belongers25% to 50% of a

country’s population

conservative most comfortable

with the familiar content with the

comfort of home, family, friends, and community

Disaffected Survivorslack power and

affluenceharbour little hope for

upward mobility tend to be either

resentful or resigned concentrated in high-

crime urban inner cityattitudes tend to

affect the rest of society

Psychographic Segmentation:Sony’s U.S. Consumer Segments

Behaviour Segmentation

• Focus on whether people purchase a product or not, how much, and how often they use it

• User status• Law of disproportionality/Pareto’s Law–

80% of a company’s revenues are accounted for by 20% of the customers

Benefit Segmentation

Benefit segmentation focuses on the value equation

Value=Benefits/Price

Based on understanding the problem a product solves, the benefit it offers, or the issue it addresses

Ethnic Segmentation

• The population of many countries includes ethnic groups of significant size

• Three main groups in the U.S. include African-Americans, Asian-Americans, and Hispanic Americans

Hispanic Americans50 million Hispanic

Americans (14% of total pop.) with $978 billion annual buying power

“$1 trillion Latina” 24 million Hispanic women: 42% single, 35% HOH, 54% working

Assessing Market Potential

Be mindful of the pitfallsTendency to overstate the size and short-

term attractiveness of individual country markets

The company does not want to ‘miss out’ on a strategic opportunity

Management’s network of contacts will emerge as a primary criterion for targeting

Assessing Market Potential

• Three basic criteria:– Current sizesize of the segment and

anticipated growth potentialgrowth potential– Potential competitioncompetition– Compatibility with company’s overall

objectives and the feasibilityfeasibility of successfully reaching the target audience

Current Segment Size and Growth

• Is the market segment currently large enough to present a company with the opportunity to make a profit?

• If the answer is ‘no’, does it have significant growth potential to make it attractive in terms of a company’s long-term strategy?

Potential Competition

• Is there currently strong competition in the market segment?

• Is the competition vulnerable in terms of price or quality?

Feasibility and Compatibility

• Will adaptation be required? If so, is this economically justifiable in terms of expected sales?

• Will import restrictions, high tariffs, or a strong home country currency drive up the price of the product in the target market currency and effectively dampen demand?

Feasibility and Compatibility

• Is it advisable to source locally? Would it make sense to source products in the country for export elsewhere in the region?

• Is targeting a particular segment compatible with the company’s goals, brand image, or established sources of competitive advantage?

Framework for Selecting Target Markets

• DemographicDemographic information is a starting point but not the decision factor

• Product-MarketProduct-Market must be considered– Market defined by product category

• Marketing model Marketing model drivers must be considered– Factors required for a business to take root and

grow

• Are there any enabling conditions enabling conditions present?– Conditions whose presence or absence will

determine success of the marketing model

9 Questions for Creating a Product-Market Profile

1.1. WhoWho buys our product?

2. Who does not buy it?

3.3. WhatWhat needneed or function does it serve?

4. Is there a market need that is not being met market need that is not being met by current product/brand offerings?

5.5. What problem What problem does our product solve?

6. What are customers buying to satisfy customers buying to satisfy the need for which our product is targeted?

7. What priceprice are they paying?

8.8. WhenWhen is the product purchased?

9.9. Where Where is it purchased?

Target Market Strategy Options

Standardized global marketingMass marketing on a global scale

Undifferentiated target marketing

Standardized marketing mix

Minimal product adaptation

Intensive distribution

Lower production costs

Lower communication costs

Target Market Strategy Options

• Concentrated global marketing– Niche marketing– Single segment

of global market– Look for global

depth rather than national breadth

– Ex.: Chanel, Estee Lauder

Differentiated global marketing Multi-segment targeting

Two or more distinct markets

Wider market coverage

Ex.: P&G markets Old Spice and Hugo Boss for Men

Positioning

• Locating a brand in consumers’ minds over and against competitors in terms of attributes and benefits that the brand does and does not offer– Attribute or Benefit– Quality and Price– Use or User– Competition

Positioning Strategies

• Global consumer culture positioning– Identifies the brand as a symbol of a

particular global culture or segment– High-touch and high-tech products

• Foreign consumer culture positioning

– Associates the brand’s users, use occasions, or product origins with a foreign country or culture

Beer is associated with this German’s culture; the symbol on his shirt is not German!

Positioning Strategies

• Local consumer culture positioning– Identifies with local

cultural meanings– Consumed by local people– Locally produced for local

people– Used frequently for food,

personal, and household nondurables

– Ex.: Budweiser is identified with small-town America

Clydesdale = Which Beer?

INTERNAL INFLUENCESINTERNAL INFLUENCES

Consumer Behaviour In The Consumer Behaviour In The News…News…

Can you guess what is happening to advertising Can you guess what is happening to advertising clutter on the internet?clutter on the internet?

IncreasingIncreasing

DecreasingDecreasing

Staying the SameStaying the Same

Source: A. Klaassen, “Some Respite for Consumers as Ad Clutter Clears on Web,” Advertising Age, October 27, 2008, p. 1/26.

Consumer Behaviour In The Consumer Behaviour In The News…News…

If you answered If you answered decreasingdecreasing you were correct. you were correct.

A recent ComScore study shows a A recent ComScore study shows a 12 percent 12 percent decrease.decrease.

Trend Good for Marketers: Trend Good for Marketers: A 15% A 15% boostboost in online in online ads leads to a 10% decline in click-through.ads leads to a 10% decline in click-through.

Nielson even has an online clutter metric which it Nielson even has an online clutter metric which it sells to clients to help them manage this aspect.sells to clients to help them manage this aspect.

Source: A. Klaassen, “Some Respite for Consumers as Ad Clutter Clears on Web,” Advertising Age, October 27, 2008, p. 1/26.

The Nature of PerceptionThe Nature of Perception

1. Perception

The process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world

Elements of PerceptionSensationAbsolute thresholdDifferential thresholdSubliminal perception

43

1.1 Sensation

Sensation is the immediate and direct response of the sensory organs to stimuliA stimulus is any unit of input to any of

the senses.

The absolute threshold is the lowest level at which an individual can experience a sensation.

Chapter Six Slide

1.2 Differential Threshold (Just Noticeable Difference – j.n.d.)

Minimal difference that can be detected between two similar stimuli

Weber’s lawThe j.n.d. between two stimuli is not an

absolute amount but an amount relative to the intensity of the first stimulus

The stronger the initial stimulus, the greater the additional intensity needed for the second stimulus to be perceived as different.

45

1.2.1 Marketing Applications of the J.N.D.

Marketers need to determine the relevant j.n.d. for their productsso that negative

changes are not readily discernible to the public

so that product improvements are very apparent to consumers

46

1.3 Subliminal Perception

Stimuli that are too weak or too brief to be consciously seen or heard They may be strong enough to be

perceived by one or more receptor cells.

Is it effective?Extensive research has shown no

evidence that subliminal advertising can cause behaviour changes

Some evidence that subliminal stimuli may influence affective reactions

47

2. Aspects of Perception

48

2.1 Perceptual Selection

49

Selection Depends Upon:

Why Are ConsumersLikely to Notice This Ad?

50

The The Attention-Attention-

Getting Getting Nature of a Nature of a Dramatic Dramatic

ImageImage

2.2 Perceptual SelectionImportant Concepts

51

2.3.1 Organization

Figure and ground

Grouping

Closure

People tend to organize perceptions into figure-and-ground relationships.

The ground is usually hazy.

Marketers usually design so the figure is the noticed stimuli.

Principles

52

2.3.2 Organization

Figure and ground

Grouping

Closure

People group stimuli to form a unified impression or concept.

Grouping helps memory and recall.

Principles

53

2.3.3 Organization

Figure and ground

Grouping

Closure

People have a need a need for closure and for closure and organize organize perceptions to perceptions to form a form a complete complete picture.picture.

Will often fill in missing pieces

Incomplete messages remembered more than complete

Principles

54

What Element of Perceptual

Organization Is Featured in This Ad?

55

ClosurClosuree

2.4.1 Interpretation

People hold meanings related to stimuli

56

2.4.2 Interpretation

Positive attributes of people they know to those who resemble them

Important for model selection

57

2.4.3 Interpretation

Verbal messages reflect stereotypes

58

How Does This Ad Depict Perceptual Interpretation?

59

It Contrasts the It Contrasts the Powerful Durango Powerful Durango with Less Rugged with Less Rugged Referred to in the Referred to in the Ad as the “Land Of Ad as the “Land Of

Tofu.”Tofu.”

2.4.4 Interpretation

First impressions are lasting

The perceiver is trying to determine which stimuli are relevant, important, or predictive

60

2.4.5 Interpretation

Consumers perceive and evaluate multiple objects based on just one dimension

61

3. Product Positioning

Establishing a specific image for a brand in the consumer’s mind in relation to competing brands

Conveys the product in terms of how it fulfills a need

Successful positioning creates a distinctive, positive brand image

62

Brand Image and Product Brand Image and Product PositioningPositioning

Brand imageBrand image refers to the schematic memory of a brand.

ManufacturerManufacturerMarketer Marketer

CharacteristicsCharacteristics

UsersUsers Usage SituationsUsage Situations

BenefitsBenefits

Perceived Product Perceived Product AttributesAttributes

Brand ImageBrand Image

Which Concepts of Perception Are Which Concepts of Perception Are Applied in These Ads?Applied in These Ads?

64The Principle Of The Principle Of Contrast Contrast

Brand Image and Product Brand Image and Product PositioningPositioning

Product positioningProduct positioning is a decision by a marketer to try to achieve a defined brand image relative to competition within a market segment.

An important component of brand image is the appropriate usage situations for the product or brand.

Perceptual mappingPerceptual mapping offers marketing managers a useful technique for measuring and developing a product’s position.

3.1 Packaging as a Positioning Element

Packaging conveys the image that the brand communicates to the buyer.

Color, weight, image, and shape are all important.

Repositioning might be necessary because:Increased competition

Changing consumer tastes

66

3.2 Perceptual Mapping

An analytical technique that enables marketers to plot graphically consumers’ perceptions concerning product attributes of specific brands

67

Perceptual Perceptual MappingMapping

68

Perceptual Map for Chocolate CandyPerceptual Map for Chocolate Candy

DimensionsDimensions

1.1.Economical/ Economical/ Common vs Common vs Expensive/ChicExpensive/Chic

2.2. Adventurous & Adventurous & Fun vs SeriousFun vs Serious

Products

1.1.CadburyCadbury

2.2.DoveDove

3.3.GhiradelliGhiradelli

4.4.GodivaGodiva

5.5.Hershey’s BarHershey’s Bar

6.6.Hershey’s KissesHershey’s Kisses

7.7.Kit KatKit Kat

8.8.M&M’sM&M’s

9.9.Nestle Crunch BarNestle Crunch Bar

Perceptual Map for Perceptual Map for Chocolate CandyChocolate Candy

Product RePositioningProduct RePositioning

Product repositioningProduct repositioning refers to a deliberate decision to significantly alter the way the market views a product. This can involve

level of performance

the feelings it evokes

the situations in which it should be used, or

who uses the product

3.3 Positioning of Services

Image is a key factor for services

Services often want a differentiated positioning strategy to market several versions of their service to different markets.

72

Which Elements of This Ad

Convey the Restaurant’s Perceptual

Position and How?

73

The Steak Knife The Steak Knife and the Reference and the Reference

to Vegetarians to Vegetarians Convey The Convey The

Position of the Position of the Restaurant as a Restaurant as a Well-Established Well-Established

SteakhouseSteakhouse

3.4 Perceived Price and Perceived Quality

Reference prices – used as a basis for comparison in judging another priceInternal

External

Perceived Quality of ProductsIntrinsic vs. Extrinsic Cues

3.4.1 Three Pricing Strategies Focused on Perceived Value

75

3.4.2 Measuring Perceptions of Brand Luxury

76

3.4.3 Perceived Quality of Services

Difficult due to characteristics of servicesIntangibleVariablePerishableSimultaneously Produced and Consumed

SERVQUAL scale used to measure gap between customers’ expectation of service and perceptions of actual service

77

3.5 Price/Quality Relationship

The perception of price as an indicator of product quality (e.g., the higher the price, the higher the perceived quality of the product.)

78

How Can This Ad Affect the Service’s Perceived Quality?

79

It Uses a Process It Uses a Process Dimension in Dimension in

Advertising a Newly-Advertising a Newly-Formed Business Formed Business

Class on an AirlineClass on an Airline

Which of the Ad’s Elements Conveys the Product’s Quality?

80

The Slogan on The Slogan on the Ad’s the Ad’s

Bottom Left Bottom Left Reads Reads

“Perfection “Perfection Has Its Price”Has Its Price”

3.6 Retail Store Image

81

3.6.1 Manufacturer’s Image

Favourable image tied to new product acceptance

Companies sponsor community events to enhance images

Product and institutional images

82

3.7 Perceived Risk

The degree of uncertainty perceived by the consumer as to the consequences (outcome) of a specific purchase decision

TypesFunctional RiskPhysical RiskFinancial RiskSocial RiskPsychological RiskTime Risk

83

3.7.1 How Consumers Handle Risk

1. Seek Information

2. Stay Brand Loyal

3. Select by Brand Image

4. Rely on Store Image

5. Buy the Most Expensive Model

6. Seek Reassurance

84

In Terms of Consumer Learning, Are In Terms of Consumer Learning, Are These New Products Likely to These New Products Likely to

Succeed? Succeed?

These Ads Might Induce These Ads Might Induce Learning Due to the Familiar Learning Due to the Familiar

NamesNames

8. Measures of Consumer Learning Brand Loyalty

Recognition and Recall Measures

Brand Loyalty

8686

8.1 Measures of Consumer Learning Brand Loyalty

Brand Equity – the value inherent in a well-known brand name

87

Learning Objectives

• Trade barriers are falling around the world

• Companies need to have a strategy to enter world markets

• Starbucks has used direct ownership, licensing, and franchising for shops and products

In 2010, Starbucks had 12,000 cafes in 35 countries and sales of $10.8 billion. Its goal is to reach 40,000 units worldwide.

Investment Cost of Marketing Entry Strategies

Which Strategy Should Be Used?

It depends on:

Vision

Attitude toward risk

Available investment capital

How much control is desired

Licensing

A contractual agreement whereby one company (the licensor) makes an asset available to another company (the licensee) in exchange for royalties, license fees, or some other form of compensation

Patent

Trade secret

Brand name

Product formulations

Advantages to Licensing

1. Provides additional profitability with little initial investment

2. Provides method of circumventing tariffs, quotas, and other export barriers

3. Attractive ROI4. Low costs to implement5. License agreements should have

cross-technology agreements to inequities

Disadvantages to Licensing

1. Limited participation2. Returns may be lost3. Lack of control4. Licensee may become competitor5. Licensee may exploit company

resources

Special Licensing Arrangements

• Contract manufacturing– Company provides technical specifications to a

subcontractor or local manufacturer– Allows company to specialize in product design while

contractors accept responsibility for manufacturing facilities

• Franchising– Contract between a parent company-franchisor and a

franchisee that allows the franchisee to operate a business developed by the franchisor in return for a fee and adherence to franchise-wide policies

Special Licensing Agreements

• Contract Manufacturing – Companies provide technical specifications to a subcontractor or local manufacturer. The subcontractor then oversees production. Such arrangements offer several advantages. The licensing firm can specialize in product design and marketing, while transferring responsibility for ownership of manufacturing facilities to contractors and subcontractors.

• Franchising is another variation of licensing strategy. A franchise is a contract between a parent company-franchiser and a franchisee that allows the franchisee to operate a business developed by the franchiser in return for a fee and adherence to franchise-wide policies and practices.

Franchising Questions

• Will local consumers buy your product? • How tough is the local competition? • Does the government respect trademark and franchiser rights? • Can your profits be easily repatriated? • Can you buy all the supplies you need locally? • Is commercial space available and are rents affordable? • Are your local partners financially sound and do they understand

the basics of franchising?

Investment

• Partial or full ownership of operations outside of home country

–Foreign Direct Investment (FDI)

• Forms– Joint ventures– Minority or majority

equity stakes– Outright acquisition

IKEA, with affordable furniture and housewares, spent $2 billion in Russia.

Joint Ventures

• Entry strategy for a single target country in which the partners share ownership of a newly-created business entity

• Builds upon each partner’s strengths

• Examples: Budweiser and Kirin (Japan), GM and Toyota, GM and Russian government, Ericsson’s cell phones and Sony, Ford and Mazda, Chrysler and BMW

Joint Ventures

• Advantages

– Allows for risk sharing–financial and political

– Provides opportunity to learn new environment

– Provides opportunity to achieve synergy by combining strengths of partners

– May be the only way to enter market given barriers to entry

• Disadvantages

– Requires more investment than a licensing agreement

– Must share rewards as well as risks

– Requires strong coordination

– Potential for conflict among partners

– Partner may become a competitor

Investment viaDirect Foreign Investment

• Start-up of new operations– Greenfield operations or – Greenfield investment

• Merger with an existing enterprise• Acquisition of an existing enterprise• Examples: Volkswagen, 70% stake in

Skoda Motors, Czech Republic (equity), Honda, $550 million auto assembly plant in Indiana (new operations)

Examples of Market Entry & Expansion by Joint Venture

Examples of Equity Stake

Examples of Investment to Establish New Operations

Examples of Acquisitions

Global Strategic Partnerships

Possible terms:Collaborative

agreements

Strategic alliances

Strategic international alliances

Global strategic partnerships

The Star Alliance The Star Alliance is a GSP made up is a GSP made up

of six airlines.of six airlines.

The Nature of Global Strategic Partnerships

The Nature of Global Strategic Partnerships

• Participants remain independent following formation of the alliance

• Participants share benefits of alliance as well as control over performance of assigned tasks

• Participants make ongoing contributions in technology, products, and other key strategic areas

Five Attributes of True Global Strategic Partnerships

1. Two or more companies develop a joint long-term strategy

2. Relationship is reciprocal

3. Partners’ vision and efforts are global

4. Relationship is organized along horizontal lines (not vertical)

5. When competing in markets not covered by alliance, participants retain national and ideological identities

Success Factors of Alliances

• Mission: Successful GSPs create win-win situations, where participants pursue objectives on the basis of mutual need or advantage.

• Strategy: A company may establish separate GSPs with different partners; strategy must be thought out up front to avoid conflicts.

• Governance: Discussion and consensus must be the norms. Partners must be viewed as equals.

Success Factors (Con’t)

• Culture: Personal chemistry is important, as is the successful development of a shared set of values.

• Organization: Innovative structures and designs may be needed to offset the complexity of multi-country management.

• Management: Potentially divisive issues must be identified in advance and clear, unitary lines of authority established that will result in commitment by all partners.

Examples of Global Strategic Alliances

Alliances with Asian Competitors

• Four common problem areas1. Each partner had a different dream2. Each must contribute to the alliance

and each must depend on the other to a degree that justifies the alliance

3. Differences in management philosophy, expectations, and approaches

4. No corporate memory

Cooperative Alliance in Japan: Keiretsu

• Inter-business alliance or enterprise groups in which business families join together to fight for market share

• Often cemented by bank ownership of large blocks of stock and by cross-ownership of stock between a company and its buyers and non-financial suppliers

• Keiretsu executives can legally sit on each other’s boards, share information, and coordinate prices

Cooperative Strategies in South Korea: Chaebol

• Composed of dozens of companies, centered around a bank or holding company, and dominated by a founding family– Samsung– LG– Hyundai– Daewoo

21st Century Cooperative Strategies: Targeting the Digital Future

Alliances between companies in several industries that are undergoing transformation and convergenceComputers

Communications

Consumer electronics

Entertainment

Beyond Strategic Alliances

Next stage of evolution of the strategic allianceSuper-alliance

Virtual corporation

Market Expansion Strategies

• Companies must decide to expand by:– Seeking new markets in existing countries– Seeking new country markets for already

identified and served market segments

ConclusionConclusion

►“Brand equity reflects brand loyalty… one of the most important applications of learning theory... to teach consumers that their product is best, to encourage repeat purchase, and to develop loyalty to the brand name and brand equity for the company.” Schiffman

Casestudy : SAB-MILLERCasestudy : SAB-MILLER

1.1. Read and prepare the Read and prepare the Casestudy on SAB MILLER Casestudy on SAB MILLER (Johnson, Whittington & (Johnson, Whittington & Scholes (2011)) for Scholes (2011)) for discussion and discussion and presentation next week. presentation next week.

2.2. Identify and evaluate the Identify and evaluate the global marketing global marketing challenges facing SAB challenges facing SAB MILLER by conducting MILLER by conducting External Environment, External Environment, Industry, Competitor Industry, Competitor analysis, SWOT, global analysis, SWOT, global Marketing Mix strategies Marketing Mix strategies and Gap Analysis.and Gap Analysis.

Core ReadingCore Reading

Juleff, L, Chalmers, A.. and Harte, P. (2008) Juleff, L, Chalmers, A.. and Harte, P. (2008) Business Economics in a Global Environment, Business Economics in a Global Environment, Napier University EdinburghNapier University Edinburgh

Keegan, W.J. and Green, M.C. (2013) Global Keegan, W.J. and Green, M.C. (2013) Global Marketing, 7Marketing, 7thth edition, Pearson edition, Pearson

Solomon, M. Solomon, M. (2013) Consumer Behaviour, 10(2013) Consumer Behaviour, 10thth Edition, Edition, PearsonPearson

Schiffman, L. and Kanuk,L. (2010) Consumer Schiffman, L. and Kanuk,L. (2010) Consumer Behaviour, 10Behaviour, 10thth Edition, Pearson Edition, Pearson