1. introduction- international marketing 1
TRANSCRIPT
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Session Plan Class Test 1: 10 marks. Will be held in our 5thlecture Attendance & class participation: 10 marks Group proect presentation: !0 marks. Will be held in o
t"o lectures. Pl note: 1. Proect details ha#e to be $i#en to me b% the 5thlec
e#aluation criteria "ill be discussed!. 'ot more than 5 members in one $roup
(. )ach $roup "ill $et !0 minutes to present *. +ne ,&W hard cop% "ith all presentations to be ha
o#er to me ,)-+) "e start the presentations this is -inal eamination 20 marks 1st3uestion is compulso
marks attempt * 6uestions out o4 a choice o4 2 each is 4or 10 marks. )ach 6uestion 4rom nos. !2 "ill ha#e
6uestions o4 5 marks each %ou ha#e to ans"er an% t"
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Toda%7s Session
8ntroduction to 8nternatio/arketin$
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Session +becti#es
To de9ne domestic international and $lomarketin$
To stud% its scope
To eplore the 4actors that impact market
To eamine the sta$es in the de#elopmenmarketin$ strate$%
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-rame"ork
8nternationalCustomer
Product
Price
Promotion istribution
8nternational )conomic 8nstitutionsand A$reements
)conomic )n#ironment Political;
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e9nitions
omestic marketin$ : encompasse9rm7s e=orts in its home countr% 8nternational marketin$: in#ol#es
marketin$ same $oods and ser#ices outsid
home countr% Global marketin$ : is an ad#anced 4
international marketin$ in "hich a 9rm ad$lobal customers markets and competitio
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,ene9ts
8t allo"s each countr% to maimi>e stren$ths and o=set its "eaknesses
Countries can optimi>e their compaad#anta$es
8t can etend the product li4e c%cledispose o4 discontinued items and 4or inno#ations
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T%pes o4 Trade estricti
Tarifs Em
Trade 3uotas
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Globali>ation -orces: Go#ernmenri#ers
eduction o4 tari= barriers eduction o4 nontari= barriers
Creation o4 ne" tradin$ blocs
ecline in the role o4 $o#ernment as
producers and consumers /arket liberali>ation and pri#ati>atio
Adoption o4 common standards
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Scope
)conomic
&
emo$raphic trends
Comparati#e
Ad#anta$e
Ta 8ncenti#es P
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/arketin$ Strate$% +pt
Domestic frm:8t restricts e=orts to home ma
Exporting frm: 8t epands sales be%ond its hborders
International frm: 8t modi9es products 4or 4omarkets or introduces ne" items
Multinational frm: While head6uartered in nation. 50@ o4 its sales;pro9ts are 4rom multipnations
Global frm: 8ts domestic sales are relati#el% lrelies more on 4orei$n transactions
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-actors to e#aluateCultural Environment
Standards o4 beha#ior
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The Cultural )n#ironmeA culture is a group o people sharing a distinctive
B 8nade6uate in4ormation about 4orei$n culture is a commo4 marketin$ errors
B e#elopin$ countries o4ten ha#e limited census data inpoor communication tools and limited technolo$ical ac
B
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Sta$es o4 )conomice#elopment
Industrialized Countries i$h literac% rate
/odern technolo$% i$h percapita GP
Developing Countri isin$ education 8mpro#in$ techn isin$ percapita
Less Developed Co
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Strate$ic e#aluation b% t%pe oor$anisation
Low
Medium
High
E%"or
Commitment&esource 'eeds
Control&isk
Pro(tPotential
)le%ibilit*
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/ethods o4 Product Plann
+traight E%tension: a 9rm makes and marsame product 4or domestic and 4orei$n sales
Product ,da"tation: domestic products armodi9ed to meet 4orei$n lan$ua$e needs cureli$ious belie4s taste pre4erences climates
electrical re6uirements la"s and;or other 4a -ackward Invention: a 9rm appeals to de#
and lessde#eloped nations b% makin$ producomple than it sells domesticall%
)orward Invention: a 9rm de#elops ne" p4or its international markets
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/arketin$ Plan +ption
Global ,""roach: A commmarketin$ plan is used 4or e
'on.standardi/ed ,""rocountr% is $i#en a separate plan
Glocal ,""roach(thinkgact local):This combinesstandardi>ed and nonstandplans and lets a 9rm $ain peIciencies ha#e a consisteha#e home oIce control asensiti#e and responsi#e to
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Promotion Plannin$
8t depends on the o#erlap o4audiences lan$ua$esimilarities and thea#ailabilit% o4 media
Campai$ns can be $lobal
nonstandardi>ed or $local
-irms sometimes $lobali>epromotions 4or ima$epurposes
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Pricin$ Plannin$
8tconsiders "hether prices shouldbe standardi>ed the le#el at "hichprices are set the currenc% in "hichprices are 6uoted and terms o4 sale
um"ing is in#ol#ed i4 a 9rm sellsa product in a 4orei$n countr% at aprice lo"er than that pre#ailin$ inits home market belo" the cost o4production or both. uties ma% bele#ied on JdumpedK products
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istribution Plannin$
istribution in each international market re6uires pl
8t encompasses the selection and use o4 resellers aph%sical mo#ement o4 products
Go#ernment restrictions costs transportation poor
conditions and other limitations ma% alter distribut
8n#entor% stora$e and reorderin$ ma% be a=ected "arehouse a#ailabilit%
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Session Summar%
This session de9ned domestic international a$lobal marketin$
We looked at the contet concept and scope ointernational marketin$
We e#aluated ho" the cultural economic politle$al and technolo$ical en#ironments impactinternational markets
We anal%>ed the sta$es in the de#elopment o4 international marketin$ strate$%
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An% 3uestions PleaseL