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©2004 Prentice Hall16-1 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 Hall16-2 Marketing Mix How to develop the firm’s products How to price those products How to sell those products How to distribute those products to the firm’s customers Who is the Target Market?
©2004 Prentice Hall16-3 The Elements of the Marketing Mix for International Firms ProductPlacePromotionPricing Marketing Mix
©2004 Prentice Hall16-4 Key Decision-Making Factors Standardization versus customization Legal forces Economic factors Changing exchange rates Target customers Cultural influences Competition
©2004 Prentice Hall16-5 Standardization versus Customization Should the firm adopt an ethnocentric approach? Should it adopt a polycentric approach? Should it adopt a geocentric approach?
©2004 Prentice Hall16-6 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 Hall16-7 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 Hall16-8 Product Life Cycle IntroGrowthMaturityDecline Profit Sales
©2004 Prentice Hall16-9 Break Even Analysis Units $ Cost Curve = Fixed Costs + Variable Costs Total Revenue Curve = Selling Price X Units BE = Total Fixed Costs/Price – Variable Costs
©2004 Prentice Hall16-10 Pricing Policies Standard price policy Two-tiered pricing Market pricing
©2004 Prentice Hall16-11 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 Hall16-12 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 Hall16-13 Promotion Mix Advertising Personal Selling Sales Promotion Public Relations
©2004 Prentice Hall16-14 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 Hall16-15 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 Hall16-16 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 Hall16-17 Basic Parts of a Distribution Channel The manufacturer A wholesaler The retailer The actual customer
©2004 Prentice Hall16-18 Distribution Channel Options
©2004 Prentice Hall16-19 Using E-Commerce http://www.prettygarlic.com and disintermediation.
Chapter 16: International Marketing
Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Need to View the Globe International Business.
International Business 9e
© 2005 Prentice Hall1-1 Chapter 1 Introduction to Global Marketing Power Point by Kristopher Blanchard North Central University.
Unit Eight Global Marketing. Unit 8 Vocabulary Consumer Market International Marketing Marketing Environment Marketing Plan Marketing Process Organizational.
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Pricing Strategy Considerations for a New Business A Macro Overview of Setting & Influencing Prices Class 26 Marketing Pricing Strategies Tuesday November.
© 2004 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
1 Chapter 14 Marketing. 2 Learning Objectives Suggest how markets for international expansion can be selected, their demand assessed, and appropriate.
PowerPoint Presentation by Charlie Cook Copyright © 2005 Prentice Hall, Inc. All rights reserved. Chapter 10 Understanding Marketing Processes and Consumer.
McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 1 An Overview of Contemporary Marketing.
C H A P T E R © 2007 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin An Overview of Contemporary Marketing 1.
1 The syllabus of Principles of Marketing. 2 Principles of Marketing,11 edition, （影印版） 清华大学出版社， 2007 年 6 月.
Copyright © Houghton Mifflin Company. All rights reserved. 1–11–1 Marketing Deals with Products, Price, Distribution, and Promotion The Marketing Mix –Four.
© 2012 McGraw-Hill Ryerson Ltd. Suunto t-Series Training Pack 0 LO 1.
Chapter Two Advertising’s Role in Marketing. Prentice Hall, © Marketing is considered to be: a) The way a product is advertised among target.
1 Chapter 19 The Global Marketplace. 2 Global Marketing into the Twenty-First Century The world is shrinking rapidly with the advent of faster communication,
chapter 16 International Marketing International Business, 6th Edition
©2007 Prentice Hall 11-1 Distribution and Customer Communication Chapter 11.
1-1Copyright 2000 Prentice Hall Chapter 1 Welcome to the World of Marketing.
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