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©2004 Prentice Hall16-1 Chapter 16: International Marketing International Business, 4 th Edition Griffin & Pustay
©2004 Prentice Hall16-2 Chapter Objectives_1 Characterize the nature of marketing management in international business Discuss the basic kin of product policies and decisions made in international business Identify pricing issues and evaluate pricing decisions in international business
©2004 Prentice Hall16-3 Chapter Objectives_2 Identify promotion issues and evaluate promotion decisions in international business Discuss the basic kinds of distribution issues and decisions in international business
©2004 Prentice Hall16-4 Marketing Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individuals and organizational objectives
©2004 Prentice Hall16-5 Figure 16.1 International Marketing as an Integrated Functional Area Operations Management Finance Human Resource Management Accounting Marketing
©2004 Prentice Hall16-6 Marketing Mix How to develop the firms product(s) How to price those products How to sell those products How to distribute those products to the firms customers
©2004 Prentice Hall16-7 Figure 16.2 The Elements of the Marketing Mix for International Firms ProductPlacePromotionPricing Marketing Mix
©2004 Prentice Hall16-8 Key Decision-Making Factors Standardization versus customization Legal forces Economic factors Changing exchange rates Target customers Cultural influences Competition
©2004 Prentice Hall16-9 Standardization versus Customization Should the firm adopt an ethnocentric approach? Should it adopt a polycentric approach? Should it adopt a geocentric approach?
©2004 Prentice Hall16-10 Table 16.1 Standardized International Marketing Advantages Reduces marketing costs Facilitates centralized control of marketing Promotes efficiency in R&D Results in economies of scale in production Reflects the trend toward a single global marketplace Disadvantages Ignores different conditions of product use Ignores local legal differences Ignores differences in buyer behavior patterns Inhibits local marketing initiatives Ignores other differences in individual markets
©2004 Prentice Hall16-11 Table 16.1 Customized International Marketing Advantages Reflects different conditions of product use Acknowledges local legal differences Accounts for differences in buyer behavior patterns Promotes local marketing initiatives Accounts for other differences in individual markets Disadvantages Increases marketing costs Inhibits centralized control of marketing Creates inefficiency in R&D Reduces economies of scale in production Ignores the trend toward a single global marketplace
©2004 Prentice Hall16-12 Prices of these t-shirts in Rome converted from several hundred lira to less than 13 Euro
©2004 Prentice Hall16-13 Pricing Policies Standard price policy Two-tiered pricing Market pricing
©2004 Prentice Hall16-14 Figure 16.3a Determining the Profit- Maximizing Price
©2004 Prentice Hall16-15 Figure 16.3b Determining the Profit- Maximizing Price
©2004 Prentice Hall16-16 Conditions for Market Pricing Firm must face different demand and/or cost conditions in the countries in which it sells its products Firm must be able to prevent arbitrage
©2004 Prentice Hall16-17 Risks to Market Pricing Complaints about dumping Damage to its brand name Development of a gray market for its products Consumer resentment against discriminatory prices
©2004 Prentice Hall16-18 Promotion Mix Advertising Personal Selling Sales Promotion Public Relations
©2004 Prentice Hall16-19 Factors affecting Advertising Strategy The message it wants to convey The media available for conveying the message The extent to which the firm wants to globalize its advertising effort
©2004 Prentice Hall16-20 A customer entering this domino parlor in Egypt encounters no language barriers in knowing that the establishment serves Coke
©2004 Prentice Hall16-21 Advantages of Personal Selling for International Firms Local sales representatives understand local culture, norms, and customs Personal selling promotes close, personal contact with customers Personal selling makes it easier for firm to adopt valuable market information
©2004 Prentice Hall16-22 Distribution Issues Physically transporting its goods and services from where they are created to the various markets in which they are to be sold Selecting the means by which to merchandise its good in the markets it wants to serve
©2004 Prentice Hall16-23 Table 16.2 Advantages and Disadvantages of Different Modes of Transportation for Exports ModeAdvantagesDisadvantagesSample Products TrainSafe, reliable, inexpensive Limited to rail routes, slow Automobiles, grains AirplaneSafe, reliable, fast Expensive, limited access Jewelry, medicine TruckVersatile, inexpensive Small sizeConsumer goods ShipInexpensive, good for larger products Slow, indirectAutomobiles, furniture Electronic Media FastUnusable for many products Information
©2004 Prentice Hall16-24 Basic Parts of a Distribution Channel The manufacturer A wholesaler The retailer The actual customer
©2004 Prentice Hall16-25 Figure 16.4 Distribution Channel Options
Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Need to View the Globe International Business.
Chapter Global Marketing and R&D 17. McGraw-Hill/Irwin International Business, 5/e © 2005 The McGraw-Hill Companies, Inc., All Rights Reserved Case:
Understanding Organizational Markets and Buying Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.
Copyright 2013, Pearson Education Global Marketing Communications Decisions II: Sales Promotions & Personal Selling Chapter 14.
PART SIX MANAGING INTERNATIONAL OPERATIONS International Business Chapter Sixteen Marketing Globally.
Part Seven Promotion Decisions 18 Integrated Marketing Communications.
Marketing Channels and Supply Chain Management Chapter 13.
International Business 9e By Charles W.L. Hill McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
Copyright © 2006 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Chapter 6 Business-to- Business (B2B) Marketing.
© 2011 South-Western | Cengage Learning Our Global Economy Economics and Decision Making Basics of Economics Economic Systems 2-4.
Managing Transnational Corporations Global Marketing and R & D.
International business, 5 th edition chapter 11 international strategic management.
Chapter 9- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Nine New-Product Development and Product Life-Cycle Strategies.
1. 2 Part 1 Marketing Dynamics Chapter 1 Marketing Is Dynamic!
Integrated Promotion Decisions Chapter 13 McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.
Copyright 2004 McGraw-Hill Australia Pty Ltd PPTs t/a Marketing 4/e by Quester, McGuiggan, Perreault and McCarthy 15–1 Part 3: The marketing mix Chapter.
Section 21.1 Distribution Chapter 21 channels of distribution Section 21.2 Distribution Planning.
Prentice Hall, Inc. © STRATEGIC MANAGEMENT & BUSINESS POLICY 10 TH EDITION THOMAS L. WHEELEN J. DAVID HUNGER CHAPTER 1 Basic Concepts of Strategic.
MARKETING STRATEGY-AN OVERVIEW 1 MARKETING STRATEGY AN OVERVIEW.
1 MARKETING CHANNELS (Place) Distribution Channels and Logistics Management.
The Manager as a Planner and Strategist McGraw-Hill/Irwin Contemporary Management, 5/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved.
1 Channel Management / Distribution. 2 STUDENTS WILL…. Understand the concepts and processes needed to identify, select, monitor, and evaluate sales channels.
Essentials of Marketing Chapter 13 Promotion – Introduction to Integrated Marketing Communication McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill.
Advertising, Sales Promotion, and Public Relations Chapter 19 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights.
Chapter 2- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Two Company and Marketing Strategy Partnering to Build.
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall CHAPTER 8 The Buying Process and Buyer Behavior.
Understand marketing’s role and function in business to facilitate economic exchanges with customers.
© Prentice Hall, 2005 Business In Action 3eChapter Developing Distribution and Promotional Strategies.
© 2007 Prentice Hall Business Publishing Principles of Economics 8e by Case and Fair Prepared by: Fernando & Yvonn Quijano 12 Chapter General Equilibrium.
Marketing Indicator 1.01 Understand marketing’s role and function in business to facilitate economic exchanges with customers.
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