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UNIVERSITY OF NORTHAMPTON SCHOOL OF BUSINESS FOREIGN TRADE UNIVERSITY HO CHI MINH CITY CAMPUS *** *** MID-MODULE ASSIGNMENT Module: GLOBAL MARKETING Code: MKT3040 PORTFOLIO – TASKS FOR EXAMINERS ONLY Student: HA THU UYEN Student ID: 1945515717 Cohort: K57NO Semester: I Academic year: 2021-2022 Headteacher: Ho Thi Hai Thuy Submission date: 23 November 2021 Student’s signature: Grade (in number): ……………… Grade (in words): ……………… Examiner (Signature & Fullname) ……………… Examiner (Signature & Fullname) ……………… Ho Chi Minh City, December 2021 UNIVERSITY OF NORTHAMPTON SCHOOL OF BUSINESS FOREIGN TRADE UNIVERSITY HO CHI MINH CITY CAMPUS *** *** END-MODULE ASSIGNMENT Module: GLOBAL MARKETING Code: MKT3040 PORTFOLIO – TASKS Student’s fullname: HÀ THU UYÊN Student ID: 1945515727 Cohort: K57NO Semester: I Academic year: 2021-2022 Lecturer: Assoc HO THI HAI THUY “MKT 3040 S1” “TABLE OF CONTENTS 1.DECRIBE THE GLOBAL FRAMEWORK IN DETAILS……………………………………………3 1.1 GLOBALIZATION’S DEFINITION …………………………………………………….3 1.2 BENEFITS……………………………………………………………………………………3 1.3 UNIQLO……………………………………………………………………………… 2.THINK GLOBALLY, ACT LOCALLY……………………………………………………………… 2.1 DEFINITION………………………………………………………………………………….3 3.EXAMPLES……………………………………………………………………………………………….3 3.1 VINAMILK……………………………………………………………………………….5 3.2 NETFLIX………………………………………………………………………… RUSSIA 4.1 INTRODUCTION…………………………………………………………… 4.2 Political dangers 4.2.1.Risks……………………………………………………………….7 4.2.2 Risks associated with ownership ……………………………………………….7 4.2.3 Operating possibilities……………………………………………… 4.2.4 Transferr dangers………………………………………………….7 4.3 Economic situation………………………………………………………………9 4.4 The CAGE model……………………………………………………………….10 5.Vinamilk Company 5.1 Motives…………………………………………………………… 11 5.2 Triggers……………………………………………………………….11 6.Compare waterfall method and shower technique……………… 13 7.References………………………………………………………………………….”14 Porfolio 1: According to Hollosen, Globalization and localisation are not mutually exclusive concepts in global marketing under the concept of 'glocalization Globilization is a term that refers to the process of contact and integration between individuals, businesses, and governments on a global scale, which combines glocalization with globalization Incorporation of global and localization This optimize the balance between standardization and homogenization against adaptation and customization this pay attention to the variations in customers across markets while also maximizing the benefits of similarities Interdependence between corporate headquarters and subsidiaries that is always changing assuring regional adaptability while reaping the advantages of global integration and efficiency (eg economies of scales) Securing worldwide dispersion of innovation (product/service produced and disseminated internationally Global technology that is shared by everyone) Product performance that is improved in a variety of usage environments Accommodate users/consumers in the local market by expanding your market penetration Observe and meet local needs and norms, such as local laws, traditions, and customer preferences An increased level of interest among the general public Good public image in the community This fast-paced minimalist fashion company has risen in popularity in recent years, with over 1,500 locations spanning Europe, Asia, and the United States And, although the brand's origins (and headquarters) are in Asia, it maintains a deliberate approach to social media content creation for its expanding variety of schools Uniqlo's Facebook page is country-specific Thus, it is easy to tailor their advertising to each location Thus, if the marketing team required simultaneous promotion of a winter coat product in Australia and a new summer clothing line in Macau, they could simply it Q2: The key to international expansion is to keep your brand consistent worldwide while still reaching local markets Just as consumers and suppliers demand the same experience and surroundings every time they visit a brand, future workers and local market customers expect a more localised experience In order to achieve global branding, foreign offices must be responsive to local markets Q3 Netflix, a video streaming service since 1997, has recently expanded outside of North America With over 130 million customers, Netflix is present in approximately 190 countries worldwide With just 50 countries supported as of 2015, this is a huge growth Unlike other firms, Netflix must “ensure content partnerships by location and occasionally by region,” according to the Harvard Business Review Netflix also confronts several national regulatory limitations, such as those limiting local market content availability Netflix has to build a complete localization program to handle local language content and programs for users in each nation as a means of promoting its worldwide growth ambitions This entails developing a strategy program with translated subtitles, localized voiceover interfaces, and services for current shows In more recent times, the content strategy has grown to include the production of unique programs in 17 various markets This is the kind of material that Netflix may use to attract new local subscribers But it also draws in new fans because of its worldwide reach Porfolio Russia, whose full name is the Russian Federation, is a federal republic located in the north of the Eurasian continent, this is the largest country in the world by area Russia is a federal republic with 85 federal entities Part of Russia's transition from a centralized to a decentralized market economy is privatization Russia joins APEC and EEU (EAEU) Politicians face a similar threat.Because Russia lacks a viable legal framework and relies heavily on unwritten laws and practices, it fosters informal practices Delaying its flagship USD 360 billion National Projects initiative until 2024 Ownership risk : The 2020 Accounts Chamber of Russia claims that the country's official registries and databases offer conflicting information on how many state-owned entities there are Operation risk : Russia has made it impossible for foreign investors to operate free of bureaucratic constraints Transfer risk: The threat of fresh Western sanctions over the alleged poisoning of opposition figure Alexei Navalny also weakened the rouble The euro may fall again if the oil market recovers more slowly than projected Since 2011, Russia has surpassed all other countries as the world's leading producer Economic growth in Russia is expected to be moderate in 2021 Exchange Rate : Gross Domestic Product (GDP) GNP per capital In the United States, the Gross Domestic Product (GDP) is referred to as GDP Inflation Administration for Occupational Safety and Health (OSHA) (The office of Occupational Safety and Health (OSHA)) Trade The Vietnam-Eurasian Economic Union Free Commercial Agreement (EAEU), signed in October 2016, boosted trade and economic ties Last year, Russian exports to Vietnam more than quadrupled In return, we will purchase Russian iron, steel, coal, and fertilizers Russia supplies most CIS nations' needs for oil, gas, timber, machinery, and equipment Most CIS nations still trade with Russia Advantages OFFICIAL LANGUAGE: “Russian”, in addition to Disadvantages A reliance on a variety of minority languages Resources Natural resources (oil, gas, and metals) and attempts to diversify 142 million-strong population Russians make about 77% of the population Geographical distances The combined area of the United States and Europe The scale of the market and the availability of highly-trained workers Strong public and external accounts that are able to withstand external threats are necessary for macroeconomic stability Digitalization and the ability to create new products and services hydrocarbon prices; Demographics are aging Outside of the nearby region, no trade agreements exist reliance on foreign technology Investing in infrastructure has aggravated the situation proclivity towards casualness U and European Union sanctions limit the availability of offshore oil resources Weaknesses in the institutions and the governance (insolvency treatment, property rights, corruption) Increased commercial focus and global integration The global economic crisis has disproportionately harmed the economy -Oil prices fell 10 -Foreign funding is scarce 11 -Slowed the ruble's rise by investing $200 billion on liquidity and business aid 12 9.3% of crime, theft, and disorder Porfolio Vietnam Dairy Products Joint Stock Firm, often known as Vinamilk, is a Vietnamese company that produces and trades dairy products and associated mechanical equipment Motives: Profit and growth goals Short-term profit is vital for SMEs who are just starting out in exporting The desire for expansion may also be important for the firm's first export The more a corporation wants to develop, the more activities it creates, including looking for new ways to grow and profit For example, the sort of feedback will eventually impact the Vinamilk development mindset from previous attempts help them to understand the market and supply more quality products Triggers: Market Demands : Demand for certain firms' goods grows in foreign markets, driving manufacturers to internationalize their products as well For instance, Vinamilk expanded foreign markets as global demand for their products grew They joined China's market before it was lucrative, but the business was developing fast, encouraging Vinamilk to expand internationally Porfolio 4: Water fall : Waterfall payment schemes require higher-tiered creditors to receive interest and principal payments first, with lower-tiered creditors receiving principal payments following Typically, debtors prioritize the highest-principal debts first since they are also the most costly Money is represented by water, and creditors by buckets The first bucket fills first First bucket full, second bucket empty As water pours, additional buckets fill in sequence As the water recedes, the size of the bucket (debt) shrinks Insolvency risk is reduced by paying off huge debts, which frees up resources for operations, capital expenditures, and investments This plan is ideal for companies repaying several loans Imagine this corporation has three operational loans with varying rates The corporation pays both principle and interest on the most expensive loan and just interest on the other two So after the most costly debt is paid off, the corporation may go on to the next most expensive loan The cycle repeats until all loans are paid Creditors A, B, and C Creditor A is the highest-tiered creditor, while Creditor C is the lowesttiered The corporation owes each creditor as follows: Creditor A owes $5,000,000 in interest and $10,000,000 in principle Creditor B owes $3,000,000 in interest and $8,000,000 in principle Creditor C owes $1,000,000 in interest and $5,000,000 in principle Assume the first year's revenue is $17 million Creditor A is then repaid in full, leaving it with $2 million to pay off other obligations Due to the priority arrangement, this $2 million must go to Creditor B Assume the corporation pays $1 million in interest and $1 million in principle to Creditor B After one year, the outcome is: Payment to creditor A Creditor B owes $2,000,000 in interest and $7,000,000 in principle Creditor C owes $1,000,000 in interest and $5,000,000 in principle If the firm makes $13 million in year two, it may pay off Creditor B and start paying Creditor C After two years, the outcome is: Creditor A gets paid in full Creditor B is paid in full Creditor C owes $200,000 in principle Shower method:Like the waterfall approach, it considers the time required to penetrate diverse markets while also identifying the advantages that each nation has to offer at the same time Despite their lesser size, certain nation-groupings may be allowed first Short product cycles need greater expenditure in R&D, thus the firm has less time to amortize these outlays As a consequence, this sort of approach might be complex The shower approach has the following characteristics: • Rapid expansion into several markets • Quick market entry • Different entry times due to operational concerns • Benefits of setting up a subsidiary firm For short product and technology cycles, market entrance ("amortization") (e.g semiconductors, computers) o lengthy R&D cycles (R&D) Possible market obstacles against competitors (for example, by establishing an image profile) insufficient time to create coordinating instruments “ References” Vietnamese companies in Forbes Asia’s Top 200 listing VNExpress [Online] Available at: https://e.vnexpress.net/news/business/companies/7-vietnamese-companies-in-forbesasia-s-top-200-listing-3974928.html [Accessed 27 January 2021] Advantages & Disadvantages of a Multinational Firm Small Business [Online] Available at: https://smallbusiness.chron.com/advantages-disadvantages-multinationalfirm-20243.html [Accessed 27 January 2022] Biong, H., 2006 Extendedness as a Relationship Governance Mechanism for Securing Cooperation in Marketing Relationships Journal of Business-to-Business Marketing, [online] 13(2), pp.29-66 Available at: [Accessed 28 January 2022] Casier, T., 2017 The different faces of power in European Union–Russia relations Cooperation and Conflict, [online] 53(1), pp.101-117 Available at: [Accessed 28 January 2022] E-commerce in Vietnam - statistics & facts, 2021 Statista [Online] Available at: https://www.statista.com/topics/5321/e-commerce-in-vietnam/ [Accessed 22 January 2022] HEINEKEN VIETNAM BREWERY - DA NANG LIMITED COMPANY VietnamCredit [Online] Available at: https://vietnamcredit.com.vn/products/companies/heineken-vietnam-brewery-da-nang-limited-company_8242 [Accessed 27 January 2022] M, P., 2022 Global Marketing Vs International Marketing - Difference and Comparison - The Investors Book [online] The Investors Book Available at: [Accessed 28 January 2022] Parnell, J., 2022 REASSESSING THE “THINK GLOBAL, ACT LOCAL” MANDATE: EVALUATION AND SYNTHESIS [online] Sjm06.com Available at: [Accessed 28 January 2022] The Globalization of Markets Hbr [Online] Available at: https://hbr.org/1983/05/the-globalization-of-markets [Accessed 27 January 2022] The World Bank In Vietnam, 2021 The World Bank [Online] Available at: https://www.worldbank.org/en/country/vietnam/overview [Accessed 27 January 2022] Understanding Localization and Globalization in Marketing Language Network USA [Online] Available at: https://www.languagenetworkusa.com/blog/understanding-localization-andglobalization-in-marketing#:~:text=Globalization%20Marketing%20Approach&text=In %20other%20words%2C%20it%20is,and%20parts%20of%20the%20world / [Accessed 27 January 2022] Waterfall Methodology, 2020 Word Front [Online] Available at: https://www.workfront.com/project-management/methodologies/waterfall [Accessed 27 January 2022] What Is a Global Corporation? Small Business [Online] Available at https://smallbusiness.chron.com/global-corporation-63267.html [Accessed 27 January 2022] ... *** *** END -MODULE ASSIGNMENT Module: GLOBAL MARKETING Code: MKT3040 PORTFOLIO – TASKS Student’s fullname: HÀ THU UYÊN Student ID: 19 455 157 27 Cohort: K57NO Semester: I Academic... M, P., 2022 Global Marketing Vs International Marketing - Difference and Comparison - The Investors Book [online] The Investors Book Available at: ... [Accessed 28 January 2022] The Globalization of Markets Hbr [Online] Available at: https://hbr.org/1983/ 05/ the-globalization-of-markets
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