Lecture M: Marketing (4/e) - Chapter 8: Global marketing

Chapter 8: Global marketing. In this chapter you will learn: Describe the components of a country market assessment, understand the marketing opportunities in BRIC countries, identify the various market entry strategies, highlight the similarities and differences between a domestic marketing strategy and a global marketing strategy.

chapter eight global marketing Copyright © 2015 McGraw­Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw­Hill Education LEARNING OBJECTIVES LO 8-1 Describe the components of a country market assessment LO 8-2 Understand the marketing opportunities in BRIC countries LO 8-3 Identify the various market entry strategies LO 8-4 Highlight the similarities and differences between a domestic marketing strategy and a global marketing strategy 8­2 General Agreement on  Tariffs and Trade (GATT) PhotoLink/Getty Images WTO Website 8­3 Assessing Global Markets General economic environment Market size and population growth Real income Power distance Uncertainty avoidance Individualism Masculinity Time orientation Transportation Channels Communication Commerce Economic analysis using metrics Infrastructure and technology Sociocultural analysis Government actions Tariff Quota Exchange control Trade agreement 8­4 Economic Analysis General Economic Environment NationMaster Website 8­5 Evaluating Market Size  and Population Growth Rate Population 2002 Population 2050 REUTERS/Arko Datta/Corbis 8­6 Firms can make adjustments to an existing product or change the price to meet the unique needs of a particular country market REUTERS/Fayza Kabli • Narinder Nanu/AFP/Getty Images Evaluating Real Income 8­7 Communication Royalty-Free/CORBIS PhotoLink/Getty Images Transportation ©MIXA/PunchStock Stockdisc Analyzing Infrastructure  and Technological Capabilities Distribution Channel Commerce 8­8 Analyzing Government Actions 8­9 Tariff and Quotas Both benefit domestically made products because they reduce foreign competition 8­10  check yourself • • Which global entry strategy has the least risk and why? Which global entry strategy has the most risk and why? 8­18 Choosing a Global Marketing Strategy:  Target Market (STP) Courtesy Ford India Pvt Ltd 8­19 The Global Marketing Mix:  Product or Service Strategies 8­20 Global Marketing Mix:  Pricing Strategies Anti-dumping Policies Economic Conditions Quotas Tariffs Price Competitive factors 8­21 Global Marketing Mix:  Global Distribution Strategies • • • Some global channels are very long and complex Consumer shop local small local stores Suppliers must be creative in delivering to these outlets Courtesy of CJ Tucker, NASA/GSFC FedEx Commercial 8­22 Global Marketing Mix: Global  Communication Strategies Photo by Jeff Kravitz/FilmMagic/Getty Images 8­23  check yourself • • What are the components of a global marketing strategy? What are the three global product strategies? 8­24 Glossary A boycott pertains to a group’s refusal to deal commercially with some organization to protest against its policies Return to slide 8­25 Glossary Cultural imperialism is the belief that one’s own culture is superior to that of other nations Return to slide 8­26 Glossary Exchange control refers to the regulation of a country’s currency exchange rate, the measure of how much one currency is worth in relation to another Return to slide 8­27 Glossary The purpose of the General Agreement on Tariffs and Trade (GATT) was to lower trade barriers such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders Return to slide 8­28 Glossary Infrastructure is the basic facilities, services, and installations needed for a community or society to function Return to slide 8­29 Glossary A quota designates the maximum quantity of a product that may be brought into a country during a specified time period Return to slide 8­30 Glossary A tariff is a tax levied on a good imported into a country Return to slide 8­31 Glossary A trade agreement is an intergovernmental agreement designed to manage and promote trade activities for a specific region Return to slide 8­32 ... Product or Service Strategies 8­20 Global Marketing Mix:  Pricing Strategies Anti-dumping Policies Economic Conditions Quotas Tariffs Price Competitive factors 8­21 Global Marketing Mix:  Global Distribution Strategies... risk and why? Which global entry strategy has the most risk and why? 8­18 Choosing a Global Marketing Strategy:  Target Market (STP) Courtesy Ford India Pvt Ltd 8­19 The Global Marketing Mix:  Product or Service Strategies...LEARNING OBJECTIVES LO 8-1 Describe the components of a country market assessment LO 8-2 Understand the marketing opportunities in BRIC countries LO 8-3 Identify the various market entry strategies LO 8-4 Highlight