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Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall
16-1
International Business
Environments & Operations
14e
Daniels ● Radebaugh ● Sullivan
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall
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Chapter 16
Marketing Globally
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Learning Objectives To understand a variety of international product policies
and their appropriate circumstances To be aware of product alterations when deciding between
standardized and differentiated marketing programs among countries
To appreciate the pricing complexities when selling in foreign markets
To be familiar with country differences that may necessitate alterations in promotional practices
To comprehend the different branding strategies companies may employ internationally
To discern effective practices and complications of international distribution
To perceive why and how emphasis within the marketing mix may vary among countries
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Introduction Marketing principles in foreign markets are
similar to those in domestic markets Product Price Promotion Place
However, some or all elements may need to be adapted to better fit local markets
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IntroductionMarketing as a Means of Pursuing an International Strategy
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Marketing Strategies Marketing strategy depends on marketing
orientation Production Sales Customer Strategic marketing Social marketing
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Marketing Strategies Firms can segment and target markets
By country By global segment Using multiple criteria
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Product PoliciesLearning Objective 1: To understand a variety of international product policies and their appropriate circumstances
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Product PoliciesLearning Objective 2: To be aware of product alterations when deciding between standardized and differentiated marketing programs among countries
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Why Firms Alter Products Firms alter products for
Legal reasons Cultural reasons Economic reasons
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The Product Line: Extent and Mix
Product line decisions depend on Sales and cost considerations Product life cycle considerations
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Pricing StrategiesLearning Objective 3: To appreciate the pricing complexities when selling in foreign markets
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Pricing Strategies Potential obstacles in international pricing
Government intervention Set minimum or maximum pricing Prohibit certain pricing practices
Market diversity Consumers may be willing to pay higher
prices
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Pricing Strategies Pricing tactics
Skimming strategy Penetration strategy Cost-plus strategy
Export price escalation Fluctuations in currency value
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Pricing StrategiesWhy Cost-Plus Pricing Pushes Up Prices
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Pricing Strategies Gray market or product diversion
the selling and handling of goods through unofficial distributors
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Pricing StrategiesNegotiating Import-Export Prices
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Promotion StrategiesLearning Objective 4: To be familiar with country differences that may necessitate alterations in promotional practices
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Promotion Strategies Promotion
the presentation of messages intended to help sell a product or service
Push-pull mix Push
uses direct selling techniques Pull
relies on mass media
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Promotion Strategies Advantages of standardized advertising
lower cost better quality at local level common global image rapid entry into multiple countries
However, firms could have problems with translation legalities market needs
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Branding StrategiesLearning Objective 5: To comprehend the different branding strategies companies may employ internationally
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Branding Strategies Brand
an identifying mark for a product or service
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Branding Strategies Advantages of a worldwide brand
global image global player identification
Problems with global brands language brand acquisition country-of-origin generic and near-generic names
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Distribution StrategiesLearning Objective 6: To discern effective practices and complications of international distribution
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Distribution Strategies Distribution
the course – physical path or legal title – that goods take between production and consumption
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Distribution Strategies Deciding whether to standardize
Distribution can vary substantially among countries
Distribution can be difficult to change
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Distribution Strategies When choosing distributors and channels
firms must consider whether internal handling is feasible which distributors are qualified the reliability of after-sales service
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Distribution Strategies Distributors choose which products to
handle To get a distributor to work for them,
companies may have to give incentives use successful products as bait for new ones convince distributors that their product and
company are viable
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Distribution Strategies Factors that can contribute to distribution
cost differences among countries include Infrastructure conditions The number of levels in the distribution system Retail inefficiencies Size and operating hour restrictions Inventory stock-outs
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Distribution Strategies E-commerce and the Internet
Opportunities can replace traditional sales methods faster customer service
Problems cannot differentiate sales programs between
countries still must comply with local laws
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Managing the Marketing Mix
Learning Objective 7: To perceive why and how emphasis within the marketing mix may vary among countries
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Managing the Marketing Mix
Gap analysis a method for estimating a company’s potential
sales by identifying prospective customers it is not serving adequately
Usage Product line Distribution Competitive
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Managing the Marketing Mix
Gap Analysis
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Evolving Challenges to Segment Markets
Disparities between “haves” and “have-nots” will increase
Companies will have conflicting opportunities to serve both “haves” and “have-nots”
Attitudinal differences will continue to affect demand
Materialism, cosmopolitanism, and consumer ethnocentrism
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All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.