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Chapter 16: International MarketingInternational Business, 4th Edition Griffin & Pustay ©2004 Prentice Hall
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 Hall
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 Hall
Marketing Process of planning and executingthe conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individuals and organizational objectives ©2004 Prentice Hall
Figure 16.1 International Marketing as an Integrated Functional AreaOperations Management Accounting Marketing Finance Human Resource Management ©2004 Prentice Hall
Marketing Mix How to develop the firm’s product(s)How to price those products How to sell those products How to distribute those products to the firm’s customers ©2004 Prentice Hall
Figure 16.2 The Elements of the Marketing Mix for International FirmsProduct Pricing Promotion Place ©2004 Prentice Hall
Key Decision-Making FactorsStandardization versus customization Legal forces Economic factors Changing exchange rates Target customers Cultural influences Competition ©2004 Prentice Hall
Standardization versus CustomizationShould the firm adopt an ethnocentric approach? Should it adopt a polycentric approach? Should it adopt a geocentric approach? ©2004 Prentice Hall
Table 16.1 Standardized International MarketingAdvantages 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 Hall
Table 16.1 Customized International MarketingAdvantages 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 Hall
Prices of these t-shirts in Rome converted from several hundred lira to less than 13 Euro©2004 Prentice Hall
Pricing Policies Standard price policy Two-tiered pricingMarket pricing ©2004 Prentice Hall
Figure 16.3a Determining the Profit-Maximizing Price©2004 Prentice Hall
Figure 16.3b Determining the Profit-Maximizing Price©2004 Prentice Hall
Conditions for Market PricingFirm 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 Hall
Risks to Market PricingComplaints about dumping Damage to its brand name Development of a gray market for its products Consumer resentment against discriminatory prices ©2004 Prentice Hall
Promotion Mix Advertising Personal Selling Sales PromotionPublic Relations ©2004 Prentice Hall
Factors affecting Advertising StrategyThe 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 Hall
A customer entering this domino parlor in Egypt encounters no language barriers in knowing that the establishment serves Coke ©2004 Prentice Hall
Advantages of Personal Selling for International FirmsLocal 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 Hall
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 Hall
Table 16.2 Advantages and Disadvantages of Different Modes of Transportation for ExportsSample Products Train Safe, reliable, inexpensive Limited to rail routes, slow Automobiles, grains Airplane Safe, reliable, fast Expensive, limited access Jewelry, medicine Truck Versatile, inexpensive Small size Consumer goods Ship Inexpensive, good for larger products Slow, indirect Automobiles, furniture Electronic Media Fast Unusable for many products Information ©2004 Prentice Hall
Basic Parts of a Distribution ChannelThe manufacturer A wholesaler The retailer The actual customer ©2004 Prentice Hall
Figure 16.4 Distribution Channel Options©2004 Prentice Hall
International business, 5 th edition chapter 16 international marketing.
16-1 chapter 16 International Marketing International Business, 6th Edition Griffin & Pustay Copyright 2010 Pearson Education, Inc. publishing as Prentice.
©2004 Prentice Hall16-1 Marketing Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services.
Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Need to View the Globe International Business.
© McGraw Hill Companies, Inc., 2000 The Strategy of International Business Chapter 12.
Marketing Channels and Supply Chain Management Chapter 13.
25 seconds left….. 24 seconds left….. 23 seconds left…..
Chapter Fifteen The Global Marketplace. Roadmap: Previewing the Concepts Copyright 2007, Prentice Hall, Inc Discuss how the international trade.
© 2005 Prentice Hall12-1 Chapter 12 Global Marketing Channels and Physical Distribution Power Point by Kristopher Blanchard North Central University.
International Business 9e By Charles W.L. Hill McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
MMIT session 6. Distribution Channels 1. What are supply networks and channels of distribution? 2. How should marketers design supply networks and channels.
Chapter 10 - slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Ten Pricing: Understanding and Capturing Customer Value.
Jeopardy Topic 1Topic Q 1Q 6Q 11Q 16Q 21 Q 2Q 7Q 12Q 17Q 22 Q 3Q 8Q 13Q 18Q 23 Q 4Q 9Q 14Q 19Q 24 Q 5Q 10Q 15Q 20Q 25 Final Jeopardy.
Advertising, Sales Promotion, and Public Relations Chapter 19 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights.
Topic to be covered this week: F International marketing (Chapter 16)
D. Marketing a Small Business 6.00 Explain the fundamentals of marketing in a small business Explain marketing and its importance.
Chapter 8 - slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Eight Products, Services, and Brands Building Customer.
© Prentice Hall, 2005 Business In Action 3eChapter Developing Distribution and Promotional Strategies.
Chapter 1- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter One Creating and Capturing Customer Value.
Designing and Managing Integrated Marketing Channels Marketing Management, 13 th ed 15.
Chapter 9- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Nine New-Product Development and Product Life-Cycle Strategies.
Understanding Organizational Markets and Buying Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.
Part Six Distribution Decisions 15 Marketing Channels and Supply Chain Management.
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Copyright © 2005 Pearson Education Inc. The Global Marketplace Chapter 18 PowerPoint slides Express version Instructor name Course name School name Date.
Foundations of Chapter M A R K E T I N G Copyright © 2003 by Nelson, a division of Thomson Canada Limited. Global Marketing 20.
CHAPTER 15 Creating Value Through Supply Chain Management: Channels of Distribution, Logistics, and Wholesaling M A R K E T I N G Real People, Real Choices.
MARKETING CHANNELS (Place)
Prentice Hall, Inc. © STRATEGIC MANAGEMENT & BUSINESS POLICY 10 TH EDITION THOMAS L. WHEELEN J. DAVID HUNGER CHAPTER 1 Basic Concepts of Strategic.
Essentials of Marketing Chapter 13 Promotion – Introduction to Integrated Marketing Communication McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill.
The Global Marketplace Global Marketing in the 21 st Century The world is shrinking rapidly with the advent of faster communication, transportation,
Foundations of Chapter M A R K E T I N G Copyright © 2003 by Nelson, a division of Thomson Canada Limited. Managing the Pricing Function 14.
1 Chapter 13 Organization, Implementation, and Control.
Chapter 26 Pricing Strategies 1 Marketing Essentials Chapter 26 Pricing Strategies Section 26.2 Setting Prices.
Global E-Commerce Back to Table of Contents. Going Global The Impact of E-Commerce on International Trade 2 Global E-Commerce Section 4-1 Section 4-2.
Chapter foundations of Chapter M A R K E T I N G Marketing Strategy and the Marketing Plan 5.
Marketing Basics. What is Marketing? Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas,
Chapter 2- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Two Company and Marketing Strategy Partnering to Build.
Business Markets and Business Buyer Behavior 6 Principles of Marketing.
Chapter Monopoly 15. Why Monopolies Arise Monopoly – Firm that is the sole seller of a product without close substitutes – Price maker – Barriers to entry.
10-1 Pricing Factors Affecting Price Decisions.
Copyright ©2005 by South-Western, a division of Thomson Learning. All rights reserved. Introduction to Marketing.
Part Seven Promotion Decisions 18 Integrated Marketing Communications.
© 2011 South-Western | Cengage Learning Our Global Economy Economics and Decision Making Basics of Economics Economic Systems 2-4.
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Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall CHAPTER 8 The Buying Process and Buyer Behavior.
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