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