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6 Cards in this Set
- Front
- Back
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Rationale For Going International
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Slow growth and increased competition
Growth and profit opportunities overseas Economies of scale reduce costs Diversity risk Recognition of global mobility of customers |
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Advantages of Global Marketing Programs
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in general, the most standardized the marketing program, the less it varies from country to country. The more of the following _______ will actually be realized.
- Economies of scare in production and distribution - Lower marketing costs - Power and scope - Consistently in brand image - Quick and efficient leverage of good ideas - Uniformity of marketing practices |
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Disadvantages of Global Marketing Programs
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Ignore difference across countries and cultures
Unimaginative and ineffective strategies geared to the lowest common denominator - difference in consumer needs, wants, and usage patterns - differences in consumer responses to marketing mix - difference in brand and product development and the competitive environment - difference in legal environment - difference in marketing institutions - difference in administrative procedures |
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Standardization versus Customization
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Many firms tailor products and marketing programs sue to difference in consumer behavior across countries.
Blend global objectives with local or regional concerns. Make global plans, replant for each region, execute locally |
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Global Brand Strategy
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To build brand equity, we often must create different marketing programs to satisfy different marketing segments.
1. Identify difference in consumer behavior 2. Adjust the brand program accordingly through the choice of brand elements, marketing program and secondary associations |
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Global Customer-Based Brand Equity
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1. Understanding similarities and difference in the global branding lanscapes
2. Dont take shortcuts in brand building 3. Establish marketing infrastructure 4. Embrace integrating marketing communications 5. Cultivate brand partnerships 6. Balance standardization and customization 7. Balance global and local control 8. Establish operable guidelines 9. Implement a global brand equity measurement system 10. Leverage brand elements |
