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INTERNATIONAL MARKETING MANAGEMENT

INTERNATIONAL MARKETING MANAGEMENT. SESSION 14: DEVELOPING GLOBAL MARKETING STRATEGY: FOCUSED STRATEGIES. 1. Global Strategy Geographic Scope Market Scope (Segmentation) Product Lines Degree of Strategy Integration. Benefits/ Costs of Globally Integrated Strategy.

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INTERNATIONAL MARKETING MANAGEMENT

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  1. INTERNATIONAL MARKETING MANAGEMENT SESSION 14: DEVELOPING GLOBAL MARKETING STRATEGY: FOCUSED STRATEGIES 1

  2. Global Strategy • Geographic Scope • Market Scope (Segmentation) • Product Lines • Degree of Strategy Integration Benefits/ Costs of Globally Integrated Strategy Position and Resources of Business and Parent Company • Industry Globalization Drivers • Market • Economic • Environment • Competitive Organization’s Ability to Implement a Global Strategy A FRAMEWORK FOR GLOBAL STRATEGY 2

  3. Market Factors • Homogeneous market needs • Global customers • Shortening product lifecycle • Transferable brands and advertising • Internationalizing distribution channels EXTERNAL DRIVERS OF INDUSTRY POTENTIAL FOR GLOBALIZATION Economic Factors Environmental Factors • Worldwide economies of scale in manufacturing or distribution • Steep learning curve • Worldwide sourcing efficiencies • Significant differences in country costs • Rising product development costs • Falling transportation costs • Improving communications • Government policies • Technology change Potential for Global Strategy • Competitive interdependence among countries • Global moves of competitor • Opportunity to preempt a competitor’s global moves 3 Competitive Factors

  4. ACHIEVING GLOBAL SYNERGIES LEVERAGING ASSETS AND POSITION STRATEGIC FLEXIBILITY • Production Shifting • Multiple Sourcing • Transfer Pricing • Managing Cash Flow • Scale Efficiencies • Coordination and Integration • Transfer of Ideas, Experience and Know-how Global Strategy 4

  5. Country Region Degree of Integration HYBRID Locally Responsive Globally Integrated Broad- Based MARKET SCOPE National Niche Global Segment Focused COMPETITIVE STRATEGIES IN A GLOBAL INDUSTRY 5

  6. CITY COUNTRY REGION WORLD CITY Urban COUNTRY Multi-Urban Domestic REGION Regional-Urban Restricted Multi-Domestic Regional WORLD International-Urban Multi-Domestic Multi-Region Global THE GEOGRAPHIC SCOPE OF THE MARKET Geographic Coverage Level of Market Integration 6

  7. FOCUSED SEGMENT STRATEGIES National Niche Strategies Global Segment Multiple Global Segments e.g. Rolex, Benetton e.g. L’Oreal e.g. Schweppes 7

  8. FOCUSEDSTRATEGIES ADVANTAGES • Customer Focused • Clearly Defined Position • Limited Resource Needs CHALLENGES • How to Grow • Remaining Focused • Responding to Market Changes 8

  9. IMPLICATIONS • Need to determine market scope and degree of strategy integration • Global focused strategies provide clear direction but pose growth issues • Broad-based strategies typically more complex and pose integration challenges 9

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