Global Marketing

Global Marketing An Overview

Reasons & Objectives

Environment of International Marketing  International Marketing Environment  PEST - Political - Economic - Social-cultural - Technology  Tariff and Non-tariff Barriers  Licensing  Trademark licensing  International Franchise Expansion

Transnational Marketing  Definition Transnational marketing involves entering foreign markets with a solid marketing plan that helps a company create a positive brand presence and resonates with residents of the foreign country.

 Explain with a skit: Company A, B & C - Significance - Function - Types - Benefits - Effects  Examples:

Domestic To Global  Domestic Marketing E.g.  Export Marketing E.g.  International Marketing E.g. Global Marketing

 Multinational Marketing E.g. Multinational Marketing

 Global Marketing E.g. International Marketing

Export Marketing

Domestic Marketing

EPRG Framework  About the framework  E: Ethnocentric Orientation E.g.: Nissan  P: Polycentric Orientation E.g. Grey Worldwide  R: Regiocentric Orientation E.g. HUL  G: Geocentric Orientation E.g. McDonalds  Benefits

International Market Entry Evaluation

Foreign Market Entry Modes  The Internet  Exporting (Direct & Indirect)  Contractual Agreement  Joint Ventures  Full Ownership  Strategic Alliances

Forces Affecting Global Integration & Global Marketing

Driving Forces  Technology  Regional economic agreements  Market needs and wants  Transportation and communication improvements  Product development costs  Quality  World economic trends  Leverage  The Global/ Transnational Corporation

Restraining Forces  Management myopia  Organizational culture  National controls & Barriers (Home and Abroad)  Company resources

Advantages  Economies of scale in production and distribution Eg:  Lower marketing costs Eg:  Power and scope Eg:  Consistency in brand image Eg:  Ability to leverage good ideas quickly and efficiently Eg:  Uniformity of marketing practices Eg:  Helps to establish relationships outside of the "political arena“ Eg:  Helps to encourage ancillary industries to be set up to cater for the needs of the global player Eg:

Disadvantages  Differences in consumer needs, wants, and usage patterns for products Eg:  Differences in consumer response to marketing mix elements Eg:  Differences in brand and product development and the competitive environment Eg:  Differences in the legal environment, some of which may conflict with those of the home market Eg:  Differences in the institutions available, some of which may call for the creation of entirely new ones Eg: infrastructure  Differences in administrative procedures Eg:  Differences in product placement Eg: