International Marketing Lecture 1

Front 1

The activity, set of institutions, and processes for creating communication, delivering, and exchanging offerings that have a value for customers, clients, partners, society at large.

Back 1

Marketing

Front 2

Focuses resources on global market opportunities and threats; refers to marketing activities across multiple country markets.

Back 2

International Marketing

Front 3

Surpass the competition at the task of creating perceived value for customers.

Back 3

Goal of Marketing

Front 4

what is the guide line value equation.

Back 4

Value = benefits/price (money, time, effort, etc)

Front 5

2 Reasons for International Marketing

Back 5

1. Grow
a. Access to new markets
b. Access to resources
2. Survival
a. Against competitors with lower cost (due to increased access to resources)

Front 6

Success over competition in the industry at value creation

Back 6

Competitive Advantage

Front 7

Competitive advantage achieved by integrating and leveraging operations on a worldwide scale.

Back 7

Competitive advantage achieved by integrating and leveraging operations on a worldwide scale.

Front 8

Competitive Advantage
_______ - concentration and attention on core business or competence.

Back 8

Requires Focus

Front 9

1. Target Market Strategy
2. Marketing Mix
a. Product
b. Price
c. Promotion
d. Place

Back 9

Single Country Marketing Strategy

Front 10

1. Global Market Participation
2. Marketing Mix Development
4ps; adapt or standardize
3. Concentration of Marketing Activities
4. Coordination of Marketing Activities
5. Integration of Competitive Moves

Back 10

International Marketing Strategy

Front 11

International Marketing ____ mean doing business in all of the 200-plus country markets

Back 11

does not

Front 12

International Marketing ____ mean widening business horizons to encompass the world in scanning for opportunity and threat

Back 12

does

Front 13

What strategy options does an international marketer have in designing a marketing mix for an existing domestic product to be sold in an international market to cope with the influence of the foreign uncontrollable environmental elements?

Back 13

1. Adapting or Standardizing the Marketing Mix (4Ps)
2. Price and Place (distribution) generally adapted
3. Product and Promotion can be adapted or standardized.
4. Can be many combinations

Front 14

Developing standardized products marketed worldwide with a standardized marketing mix.
*Essence of Mass Marketing

Back 14

Standardization

Front 15

Mixing standardization and customization in a way that minimizes cost while maximizing satisfaction.
*Essence of Segmentation

Back 15

Adaptation

Front 16

For ____ companies, 70% of total world market for goods and services is outside the country.

Back 16

United States

Front 17

*1-14
____ earns 75% of operating income and 2/3 of profits in North America

Back 17

Coca Cola

Front 18

for ___ companies, 90% of world market is outside the country.

Back 18

Japanese

Front 19

94% of market potential is outside of _______ for its companies.

Back 19

German

Front 20

2 forces affecting global integration and international marketing.

Back 20

1. Driving Forces
2. Restraining Forces

Front 21

1. Regional Economic Agreements
2. Market needs and wants
3. Technology
4. Transportation and communication improvements.
5. Product development costs
6. Quality
7. World economic trends
8. Leverage

Back 21

Driving Forces (8)

Front 22

1. Management Myopia
2. Organizational Culture
3. National Controls
4. Opposition to Globalization.

Back 22

Restraining Forces (4)

Front 23

What does EPRG stand for.

Back 23

Ethnocentric (orientation)
Polycentric (orientation)
Regiocentric (orientation)
Geocentric (orientation)

Front 24

1. Home country is superior to others
2. Sees only similarities in other countries
3. Assumes products and practices that succeed at home will be successful everywhere.
4. Leads to a standardized or extension approach

Back 24

Ethnocentric Orientation

Front 25

1. Each country is unique
2. Each subsidiary develops its own unique business and marketing strategies
3. Often referred as multinational
4. Leads to a localized or adaptation approach that assumes products must be adapted to local market conditions.

Back 25

Polycentric Orientation

Front 26

1. A region is the relevant geographic unit.
(ex: The NAFTA OR European Union Market)
2. Some countries serve markets throughout the world but on a regional basis
(ex: General motors had four regions for decades)

Back 26

Regiocentric Orientation

Front 27

1. Entire world is a potential market
2. Strives for integrated global strategies
* also known as a global or transnational company
3. Retains an association with the headquarters country
4. Pursues serving world markets from a single country or sources globally to focus on select country markets
5. Leads to a combination of extension and adaptation elements.

Back 27

Geocentric Orientation

Front 28

2 Needs for International Marketing?

Back 28

1. Growth
2. Survival

Front 29

Think Globally, act locally

Back 29

Think Globally, act locally

Front 30

Achieved by integrating and leveraging operations on a worldwide scale.

Back 30

Competitive Advantage