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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
MARKETING CHANNELS (Place)
pricing concepts for establishing value
Strategic Planning and the Marketing Process
international strategic management
Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Need to View the Globe International Business.
CHAPTER 1 Basic Concepts of Strategic Management
Objectives Know why companies use distribution channels and understand the functions that these channels perform. Learn how channel members interact and.
CHAPTER 4 Environmental Scanning and Industry Analysis
International Business 9e
Jeopardy Q 1 Q 6 Q 11 Q 16 Q 21 Q 2 Q 7 Q 12 Q 17 Q 22 Q 3 Q 8 Q 13
Understanding Organizational Markets and Buying Behavior
CHAPTER 8 The Buying Process and Buyer Behavior.
McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc
© Prentice Hall, 2005 Business In Action 3eChapter Developing Distribution and Promotional Strategies.
Essentials of Marketing 13e
Integrated Marketing Communications
Advertising, Sales Promotion, and Public Relations Chapter 19 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights.
Products, Services, and Brands Building Customer Value
MARKETING INFORMATION AND RESEARCH
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