Đang tải... (xem toàn văn)
Chapter 12 - Global marketing management: Planning and organization. After studying this chapter you will be able to understand: How global marketing management differs from international marketing management, the need for planning to achieve company goals, the important factors for each alternative marketentry strategy, the increasing importance of international strategic alliances.
International Marketing 15th edition Philip R. Cateora, Mary C. Gilly, and John L. Graham Global Marketing Management • The trend back toward localization – Caused by the new efficiencies of customization – Made possible by the Internet – Increasingly flexible manufacturing processes • From the marketing perspective customization is always best • Global markets continue to homogenize and diversify simultaneously – Best companies will avoid trap of focusing on country as the primary segmentation variable Roy Philip Benefits of Global Marketing • When large market segments can be identified – Economies of scale in production and marketing – Important competitive advantages for global companies • Transfer of experience and knowhow – Across countries through improved coordination and integration of marketing activities • Marketing globally – Ensures that marketers have access to the toughest customers – Market diversity carries with it additional financial benefits – Firms are able to take advantage of changing financial circumstances Roy Philip International Planning Process Exhibit 12.1 Roy Philip Alternative MarketEntry Strategies (1 of 2) • An entry strategy into international market should reflect on analysis – Market characteristics • Potential sales • Strategic importance • Strengths of local resources • Cultural differences • Country restrictions – Company capabilities and characteristics • Degree of nearmarket knowledge • Marketing involvement • Management commitment Roy Philip Alternative MarketEntry Strategies Exhibit 12.2 Roy Philip Alternative MarketEntry Strategies (2 of 2) • Companies most often begin with modest export involvement • A company has four different modes of foreign market entry – – – – Exporting Contractual agreements Strategic international alliances Direct foreign investments Roy Philip Contractual Agreement (1 of 2) • Contractual agreements – Longterm, – Nonequity association between a company and another in a foreign market • Licensing – A means of establishing a foothold in foreign markets without large capital outlays – A favorite strategy for small and mediumsized companies – Legitimate means of capitalizing on intellectual property in a foreign market Roy Philip Contractual Agreement (2 of 2) • Franchising – Franchiser provides a standard package of products, systems, and management services – Franchise provides market knowledge, capital, and personal involvement in management – Expected to be the fastestgrowing marketentry strategy • Two types of franchise agreements – Master franchise • Gives the franchisee the rights to a specific area with the authority to sell or establish subfranchises – Licensing Roy Philip Strategic International Alliances • Four characteristics define joint ventures: – JVs are established, separate, legal entities – The acknowledged intent by the partners to share in the management of the JV – There are partnerships between legally incorporated entities such as companies, chartered organizations, or governments, and not between individuals – Equity positions are held by each of the partners Roy Philip 10 Strategic International Alliances • Consortia – Similar to joint ventures and could be classified as such except for two unique characteristics • Typically involve a large number of participants • Frequently operate in a country or market in which none of the participants is currently active – Consortia are developed to pool financial and managerial resources and to lessen risks Roy Philip 11 Direct Foreign Investment • Factors that influence the structure and performance of direct investments – Timing – The growing complexity and contingencies of contracts – Transaction cost structures – Technology transfer – Degree of product differentiation – The previous experiences and cultural diversity of acquired firms – Advertising and reputation barriers Roy Philip 12 ... Firms are able to take advantage of changing financial circumstances Roy Philip International? ?Planning Process Exhibit? ?12. 1 Roy Philip Alternative MarketEntry Strategies (1 of 2) • An entry strategy into? ?international? ?market should reflect ... Company capabilities and characteristics • Degree of nearmarket knowledge • Marketing? ?involvement • Management commitment Roy Philip Alternative MarketEntry Strategies Exhibit? ?12. 2 Roy Philip Alternative MarketEntry Strategies (2 of 2)... country as the primary segmentation variable Roy Philip Benefits of Global? ?Marketing • When large market segments can be identified – Economies of scale in production and? ?marketing – Important competitive advantages for global companies