1. Global Marketing

2. What is global marketing?
It is the process of focusing the resources and objectives of a company on global marketing opportunities. Companies engage in global marketing to take advantage of marketing opportunities, and to survive.

3. Decisions in Global Marketing
Why go abroad?
Which markets to enter?
How to enter?
What marketing program?
What marketing organization?

4. Why go abroad? Higher profit opportunities
Achieving economies of scale
Reducing vulnerabilities
Countering competition
Higher customer expectations in terms of service and products
Competitive advantage

5. Risks involved
Knowledge of the new market and preferences of customers
Culture of foreign markets
In-house availability of personnel able to operate in foreign markets
Environmental constraints that could affect business eg. laws, regulations, political turmoil, etc

6. World View of Personnel
An ethnocentric person believes that his way of life is the best and therefore finds other ways of life as odd.
A geocentric person sees similarities and differences in the way of life in different nations
A polycentric person sees each and every nation as unique and differently
A regiocentric person sees similarities within the region and differences across the rest of the world

7. Companies feel their way into new foreign markets
Limited exports through an agent
Having their own office
Establishing subsidiaries
Having your own production unit

8. Which markets to enter? What kind of business you are in?
What kind of potentials exist ?
Waterfall approach – entering countries in sequence
Sprinkler approach – entering countries simultaneously

9. Nomenclature of global markets
Developed
Developing
BRIC, NAFTA, SAFTA,EU, APEC, ASEAN, etc.
WTO

10. How to enter? Domestic based export department Overseas subsidiary
International sales organization
Foreign based agents
Licensing
JVs
Direct investment

11. Global Marketing Programs
Standardized marketing mix
‘Think global, act local’
‘Think local, act global’
‘Glocalised’ marketing mix

12. Leveraging Country-of -origin
Japan – automobiles, consumer electronics
USA – soft drinks, jeans, high-tech gadgets
Germany – engineering, beer,
France – perfumes, wines
Italy – clothes, fashion
Switzerland – chocolates, banking
India – spices, gems and jewellery