standardization is not possible because of cultural and economic differences among nations, trade barriers, and differences in product and technical standards.. 185[r]
(1)International Business
9e
By Charles W.L Hill
(2)Chapter 18
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What Is The Marketing Mix?
The marketing mix is comprised of
1. Product attributes
2. Distribution strategy
3. Communication strategy
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Changed For Each Market?
Question: Are markets and brands becoming global?
Theodore Levitt argued that world markets were
becoming increasingly similar making it unnecessary to localize the marketing mix
Question: Is Levitt right? Probably not!
The current consensus is that while the world is
moving towards global markets, global
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What Is Market Segmentation?
Market segmentation - identifying distinct groups of consumers whose purchasing behavior differs from others in important ways
can be segmented by geography, demography,
socio-cultural factors, and psychological factors
When there are differences between countries in the structure of market segments a unique
marketing mix to appeal to a certain segment in a given country may be necessary
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Influence Marketing Strategy?
A product is like a bundle of attributes - products sell
well when their attributes match consumer needs
Consumer needs depend on
1 Culture - tradition, social structure, language, religion, education
2 Level of economic development - consumers in highly developed countries tend to demand a lot of extra
performance attributes, while consumers in less
developed nations tend to prefer more basic products Product and technical standards - national differences
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How Does Distribution
Influence Marketing Strategy?
Distribution strategy - the means the firm chooses for delivering the product to the consumer
How a product is delivered depends on the firm’s market entry strategy
firms that produce locally can sell directly to the consumer, to the retailer, or to the wholesaler
firms that produce outside the country have the same