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GLOBAL MARKETTING
submitted by:HEENAL S. MARU
ROLL NO. 8
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OBJECTIVES OF GLOBAL
MARKETING
o Exploit Market Potential and Growth
Gain Economies of Scale and Scope
Learn from the Leading Market
Pressuring Competitors
Diversifying Markets
Learning How to do Business Abroad
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INTRODUCTION TO TOPIC
The chapter starts by looking at theevolution of a firm's orientation fromprimarily a domestic producer to a
global player.
It then goes on to describe the majorfactors that have led to global
marketing, including both economicand social.
Finally the chapter examines the
planning mechanism necessary to
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WIDER SCOPE OPERATION APPROACH
DIVERSITIES AND DIFFERENCES IN CULTURE MARKETTING STRATEGY INTERNATIONAL BUSINESS EVOLUTIONARY PROCESS
MEANING OF GLOBALMARKETING
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DEFINITION
THE OXFORD UNIVERSITY PRESSDEFINES GLOBAL MARKETTING AS
MARKETTING ON A WORLDWIDESCALE RECONCILING OR TAKINGCOMMERCIAL ADVANTAGE OFGLOBAL OPERATIONAL
DIFFFERENCES, SIMILARITIES AND
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ENGAGE IN GLOBAL
MARKETING?1. To Survive and Grow2. Learn to satisfy consumers in diverseconditions
3. Manage marketing tasks moreefficiently and effectively
4. Preempt or counter competitiveattacks in more than one market
5. Expand customer base to includedeveloped and developing nations
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WORLDWIDE COMPETITION
AUTOMOTIVE SALES
INTERNATIONAL MARKETS
TECHNOLOGICAL CHANGE
FOREIGN COMPETITION
DOMESTIC MARKETSMARKET BASED AND SUPERIOR VALUETO CUSTOMERS
KNOWLEDGE ACCUMULATION AND
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The advantages of global market we canintroduce our product by using advertising
Economies of scale in production anddistribution
Lower marketing costsPower and scopeConsistency in brand image
Ability to leverage good ideas quickly andefficiently
Uniformity of marketing practicesHelps to establish relationships outside of
the "political arena"
ADVANTAGES OF GLOBALMARKETING
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Differences in consumer needs, wants, andusage patterns for products
Differences in consumer responseto marketing mix elements
Differences in brand and productdevelopment and
the competitive environmentDifferences in the legal environment, someof which may conflict with those of the homemarket
Differences in the institutions available,
DISADVANTAGES OFGLOBALMARKETING
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FEATURES OF GLOBALMARKETING
REACH
SCOPE
INRERACTIVITYIMMEDIACY
DEMOGRAPHICS AND TARGETTING
ADAPTIVITY AND CLOSED LOOPMARKETTING
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Select & Implement Foreign Market Entry Select Countries, Mode of Entry etc
Perform Local Marketing Abroad
Promote Products and ServicesConduct Market Research
Manage Advertising Campaign
Manage Global Operations
Roles of a Global Manager
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Foreign Competitors : Foreign Firms are themost direct competitors of a Globalizing firm.
Foreign Competitors from the same countrycan be analyzed as a separate StrategicGroup.
E.g: Samsung, LGFirms from the same country follow similar
strategyRegional Trade Blocs also help Foreign
Competitors.
Foreign Competitors
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Pioneering Costs
Customer Tastes & Preferences are unknown
New Distribution Channel may have to be setup
Customers have to be educated
Advertising Expenses, Promotion expenseswill be high
Few Firms tend to be Followers SecondMover Advantage
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GLOBAL
MARKETTING MIX PRODUCT PRICE
PLACEMENT
PROMOTION
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STRATEGIES OF GLOBAL MARKETTING
Treating the global market as the domestic market.
Creating a global marketing mix, which at the
same time recognizes regional and nationaldifferences, such as differences in language andtastes.
Creating global production and distributionsystems, e.g. super factories covering major areasof the world.
Concentrating on power brands - the most
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FACTORS PROMOTINGGLOBAL MARKETTING
INFORMATION, COMMUNICATIONSTECHNOLOGY
STANDARDISATION
THE TRANSFORMATION OF INDUSTRIALECONOMIES
TRANSFORMATION OF BUSINESS
ENTRERPRISES GLOBAL CULTURE
THE EMERGING DIGITAL FIRM
SUPPLY CHAIN MANAGEMENT
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IMPETUS TO GLOBALMARKETTING INVOLVEMENT
Foreign customers
Importers
Intermediaries
Other sources
QUESTIONNAIRE
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Q.1 What are the principal differences between marketing domestically and internationally orglobally?
An: Essentially there is no difference between the two. Both require the identification of
product/market objectives, an analysis of the internal and external environment and theorganizing, planning, implementation and control of an effective marketing strategy. Thedifferences lie in the degree of market similarities and differences, and the extent to which theproduct to be marketed is environmentally sensitive or insensitive
Q.2What factors have led to the growth of "Internationalism" since World War II? Discuss which you
think are the most important and why
An: Factors include:
1.Theoretic - comparative advantage, the Product Trade Cycle and Perl mutter's businessorientation. Market forces - market clusters, technology, cost/volume considerations, shrinkingof transport and communication gaps, international leverage.
2. The International System - development of economic blocs, growth in domestic economies, theInternational Monetary Framework, global peace, communication and transport technology,global corporation growth, GATT.
3. Others - impetus through global experience, attitudes (Cavusgil), behavior, context and theinternational infrastructure.
Q.3 Which concepts and techniques are available to aid marketers isolate differences and
QUESTIONNAIRE
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Going global will stretch and mold companyresources into a globally effective marketingorganization.
Global Managers will have to select the rightentry strategies, decide on trade - offsbetweenlocalization or global standardization toachieve the optimal local responsiveness andglobal scale of economies.
When Going global, it is better to take helpfrom experts for market entry, market
research & international Financing
CONCLUSION
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BIBILOGRAPHY
WWW.GOOGLE.COM
REFERENCE BOOKS
EXPERTS
NEWSPAPERS