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Marketing 4

Marketing 4. Global Marketing. Developing a Global Vision - 4. Importance of global marketing Impact of multinational firms The International Environment Level of involvement in International Markets Developing a Global Marketing Mix. Global Marketing I. Global Vision

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Marketing 4

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  1. Marketing 4 Global Marketing

  2. Developing a Global Vision - 4 • Importance of global marketing • Impact of multinational firms • The International Environment • Level of involvement in International Markets • Developing a Global Marketing Mix 4.1

  3. Global Marketing I • Global Vision • Recognize/React to global opportunities & threats • Use global distribution networks effectively 4.2

  4. Global Marketing II • Importance of Global Markets • World Trade $7 TRILLION • 12% of US GDP • 20% of US industrial production exported • 1/3 of US farm products exported • $731 Billion/Year US to World • International trade and foreign investments account for nearly 1/3 of US corporate profits 4.2

  5. Global Marketing III • Globalization • Negative effects • Lost jobs • Fear of losing job • Leverage against employees’ salary expectations • Positive effects • ↑ Economic freedom • ↑ Competition • ↑ Productivity • ↑Standard of living 4.2

  6. Global Marketing IV • Impact of Terrorism • ↑ insurance costs • ↑ security costs • Tougher border inspections • slower cargo movement • more paperwork/red tape • Tighter immigration 4.2

  7. Levels of Globalization • Export: marketing products to customers in other countries • Licensing: License another firm to use forms of proprietary knowledge • Joint Venture: buy or partner with a company to form a new entity • Multinational Corporation: company with operations and activities in more than one country • Global Corporation: organization that has markets worldwide 4.6

  8. MNC: Four Stages to Global Business Development • Operate in one country/sell in another. • Establish foreign subsidiaries to sell in another country. • Operate an entire line of business in another country. • Virtual corporation/structure not limited by geography

  9. Promotion Product Price Distribution Single Marketing Mix World as One Market Promotion Price Product Distribution Promotion Price Product Distribution Tailored Marketing Mixes World as Many Markets Global vs. Customized Strategies Standard Global Strategy Customized Strategies 4.7

  10. Strategic Decisions Based on: • Target Market • Firm Capabilities • Market Potential 4.8

  11. External Environment for Global Marketing • Culture • Preferences • What is Acceptable • Language • Translation NOVA • Images • Political/Legal • Government Policies  (In) Efficiencies • Tariff; Quota; Boycott; Exchange Control; Trade Alliance; Trade Agreement 4.3

  12. External Environment for Global Marketing • Economic Development • Technology Development • Political • WTO (Formerly GATT) • Dropping Trade Barriers • NAFTA; Mercosur; FTAA • EU (USE?) • World Bank & IMF 4.4

  13. External Environment for Global Marketing • Demographic Makeup • Population • Urban/Rural (Belgium vs. Kenya) • Age • Education • Standard of Living • Natural Resources • Export Excess • Import Deficiencies 4.5

  14. Five Methods for Entering Global Marketplace • Export (Low Risk/Low Return) • Licensing • Contract Manufacturing • Joint Venture • Direct Investment (High Risk/High Return)

  15. The Global Marketing Mix • Product and Promotion • One product, one message • Product innovation • Product adaptation • Message adaptation

  16. The Global Marketing Mix • Distribution • Pricing • Exchange rates • Purchasing power • Dumping

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