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International marketing (Modes of entry (Joint ventures (Equity JV =…
International marketing
Triggers for international expansion
Customer drivers
Domestic markets
Small
Saturated
Low growth
Competitive forces
Cost factors
Portfolio balance
Macro - Global picture
Socio-cultural
Technological
Political
Economic
Environmental
Legal
Ethical
STEEPLE
Micro - Local picture
Market attractiveness
Market size and growth rate
Competition
Cost of serving market
Profit potential
Market access
Organisations capabilities
Skills
In-house already
Available to buy in
Resources
Production adaptability
Competetive advantage
Advantages/disadvantages
Organisation
Greater risks
Potential for greater profitability
Consumers
Erosion of own culture
Potential to meet needs
Lower prices
Separation from production
Marketing intermediatries
Opportunities for work
Regulation by MNC
Suppliers
Opportunities for orders
Regulation by MNC
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Competitors
Some consumers will value individuality and authenticity
Increased competition from MNC
Publics
Convergence of culture
Erosion of national culture
Modes of entry
Indirect exporting
Via a third party
Direct exporting
Straight to market
Internet?
Joint ventures
Equity JV = separate entity for partnership
Contractual JV's
Intensive
Strategic alliances
Similar to JVs
Different countries
Global strategic partners
Licensing
Franchising
Form of licensing
Contract manufacturing
Management contracting
Direct investment
Emerging markets
Middle market segments
Mid-level income
Value, good enough
Low end segment
Basic products
Meagre prices
Premium segments
High purchase power
Willing to pay for international brands
High end advanced products