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International marketing - the global marketplace
International marketing - the global marketplace
1.1 Global marketplace
TNC & MNC
R&D
Production
Marketing
Financial advantages (costs & reputation)
Domestic competitors
sees the world as one market
Economic & government instability
Different legislative restrictions
Trade barriers
Diverse cultural preference & practices
Research & intelligence
Modes of entry
Indirect exporting
Direct exporting
Joint ventures
Strategic alliances
Global strategic partnerships
Licensing
Franchising
Contract manufacturing
Management contracting
Direct investment
2.1 Globalisation vs customisation
Ingredients
Brand name
Marketing communications
Mind set
Thinking globally act locally
Adapting
offerings
communications to local preferences
conditions
local adaptation of marketing mix
Social & cultural trends.
Both Macro & micro environments.
Tailoring to cultural conventions & national contexts
Three main market segment
Premium
Middle-market
Low-end
Difficult to compete
Encourage innovation
Challenages
Lack of operational infrastructure
Weak legal protection for intellectual property
LTD capabilities among suppliers
Unpredictable customers behaviour
Weakening the premium brand image
Ethical issuess
Advertising regulations
Triggers for international expansion
Saturated domestic markets .
Small domestic markets
Low-growth domestic markets
Customer drivers
Competitive forces
Cost factors
Portfolio balance
The micro environment
Market's size & growth rate
Competition
Cost of serving the market
Profit potential
Market access
organisation capabilities
Skills
Resources
Product adaptation
Competitive advantage
Macro environment
STEEPLE factors
Socio-cultural
Technology
Economic
Political & legal
Ethical
Trading systems
Protect domestic
Control trade & raise revenues
Tariffs or duties
Currency exchanges
Regulations
Free trade zones EU
Free trade agreements US