The Global Marketplace By Gavin, Lisbeth, Maura, Orlando, Trixie.
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Transcript of The Global Marketplace By Gavin, Lisbeth, Maura, Orlando, Trixie.
![Page 1: The Global Marketplace By Gavin, Lisbeth, Maura, Orlando, Trixie.](https://reader035.fdocuments.us/reader035/viewer/2022062423/56649ea05503460f94ba2ab7/html5/thumbnails/1.jpg)
The Global Marketplace
By Gavin, Lisbeth, Maura, Orlando,
Trixie
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Agenda
Looking at global
marketing environment
Whether to go
global
Which markets to enter and
how
Deciding on the global marketing
program and organization
McDonalds
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The International Trade System
• Trade System Regulations
• Tariffs/Quotas/Exchange Controls/Nontariff Trade Barriers
• The World Trade Organization (WTO)
• General Agreement on Tariffs and Trade (1947)
• WTO (1955)
• Regional Free Trade Zone
• Economic Communities (Free Trade Zones)
• European Union (EU)
• North American Free Trade Agreement (NAFTA)
• Central American Free Trade Agreement (CAFTA)
• Union of the South American Nations (UNASUR)
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Cultural Environment
The Impact of Culture on Marketing Strategy
The Impact of Marketing Strategy on Cultures
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Political-Legal Environment
• Attitude towards International Buying and Selling
• Political Stability
• Government Bureaucracy
• Monetary Regulations
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Economic Environment
• Industrial Structures
• Subsistence Economies
• Raw Material Exporting Economies
• Emerging Economies
(Industrializing Economies)
• Industrial Economies
• Income Distribution
• Low/Medium/High Income Households
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Deciding Whether to Go Global
Local
• Advantages: Easier and safer
• Disadvantage: Increase competition
Global
• Advantages: Opportunity for growth
• Disadvantages: “One-size-fits-all” approach
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Deciding Which Markets to Enter• How Many Countries to Enter?
• What types of countries To Enter
• Products
• Geography
• Population
• Income
• Political Climate
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Deciding How to Enter the Market • Exporting
• Indirect and Direct exporting
• Joint Venturing
• Licensing
• Contract Manufacturing
• Management Contracting
• Joint Ownership
• Direct Investment
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Deciding on the Global Marketing
Product• Three strategies are used for adapting a product:
1. Straight product extension – marketing a product without making
any changes to it• Pros: Involves no additional product development costs, manufacturing
changes or promotion changes
• Cons: Can be costly in the long-run if products fail to satisfy consumers in
a specific global market
2. Product adaptation – adapting a product to meet local conditions,
needs, or wants
3. Product invention – creating a new product or service to match the
local environment
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PROMOTION•Communication Strategy
•Home Market Use
•Localized Marketing
•Cultural Adjustments
•Communication Adaptation
•Differentiation Among Ads
•Media Internationally
Deciding on the Global Marketing
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Deciding on the Global Marketing Organization
Price•Poor countries (High vs Low Prices)
•Additional costs
•Modified products
•New brands with affordable price
•Internet Global Pricing
Steve Madden Steve Madden: Madden Girl
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Deciding on the Global Marketing Program
Distribution Channels• Whole Channel View• Global Value Delivery Network
• Nation to Nation Variations• Intermediaries• New Distribution Structures
International seller
Channels between nations
Channels within
nations
Final user or buyer
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1. Companies manage international marketing in three steps:2. Organize an Export Department 3. Create an Internal Division 4. Become a Global Organization
• Geographical organizations - Country managers are responsible for sales people, sales branches, distributors, and licensees in their respective countries.
• World product groups - Each operating unit is responsible for worldwide sales of different product groups.
• International subsidiaries - Each unit is responsible for their own sales and profits.
Deciding on the Global Marketing Organization
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MCDONALDS
•Product
•Promotion
•Price
•Distribution Channels
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