International Strategy Development. Developing a Marketing Strategy F Situation Analysis –Country Analysis u Economic u Political u Cultural u Legal u.

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Presentation transcript:

International Strategy Development

Developing a Marketing Strategy F Situation Analysis –Country Analysis u Economic u Political u Cultural u Legal u Technological –Market Analysis u Competitive Analysis u Consumer Behavior towards Product F Segmentation and Targeting F Marketing Objectives F Marketing Mix F Budget

7 The International Marketing Task Political/legal forces Economic forces 1 2 Environmental uncontrollables country market A Environmental uncontrollables country market B Environmental uncontrollables country market C Competitive structure Competitive Forces Level of Technology PriceProduct Promotion Channels of distribution Geography and Infrastructure Foreign environment (uncontrollable) Structure of distribution Economic climate Cultural forces Political/ legal forces Domestic environment (uncontrollable) (controllable)

Self-Reference Criterion (SRC) F An unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decisions

Creating Marketing Strategies for International Markets Standardization/ Globalization Adaptation/ Localization VS.

Advantages of Standardization F Economies of scale in production and distribution F Lower marketing and advertising costs F Ability to exploit good ideas on a worldwide basis F Consistent brand and/or company image in all markets F Simplification of coordination and control of marketing and promotional programs

Problems with Standardization F Differences in market and economic development, consumer needs, media availability and legal restrictions F Usage patterns and perceptions of a product may vary from one country to another F Cultural differences make advertising standardization difficult Slide 20-3

International Marketing Concepts Domestic Market Extension(Ethnocentric) Multi-Domestic Market(Polycentric) Global Marketing(Regio/Geocentric) ConceptEPRG Schema

Coca-Cola Global Marketing Strategy Think Globally Act Locally

Examples of Global Marketing Product Design Brand Name Product Positioning Packaging Advertising Strategy Sales Promotion Distribution Customer Service Canon photocopier/McDonalds/Toyota/Ford Marlboro/Coke/Pepsi/Mercedes/Caterpillar Colgate toothpaste/Unilever fabric softener Gillette razors Coca-Cola/British Airways/Benetton IBM Benetton/United Distillers American Express/Hertz