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Competing in a global context (Globalisation :star: (Are big cities the…
Competing in a global context
Economic and financial flows in a globalised world
:star:
Transfer pricing
:star:
Arm's length principle
Alternative approaches
Unitary taxation with profit apportionment
three obstacles
Path dependancy
Vested interest
Technical issues
Country-by-country reporting
Transfer mispricing :!?:
Exchange rate
:star:
Foreign exchange (forex) :pen:
Supply and demand
Changes in supply and demand
Government intervention :!?:
Protecting countries currency
Speculators
Investments
Fluctuations
Problems
Planning
PESTLE factor :pen:
Admin costs
Financial regulation
:star:
Different jurisdictions
Different local rules
Reporting
IFRS Standards :pen:
IAS Standards :pen:
Information for investors
Taxation :!:
Imperialism :pen:
Balance of payments
:star:
The current account
The capital account
The financial account
competition
between countries
Tax havens :!?:
global investments
Globalisation :star:
Are big cities the new countries? :question:
Do they have more in common then countries?
Sustainability
Regulation
:star:
Different countries
e.g. China :
Foreign media banned from publishing online
Google returning
Adhering to China's requests
Facebook
Making China censorship tool
For Political content
Different rules
Selective globalisation
:star: (Kapferer 2012):pen:
Global brands
Adapting to local needs
Economies of scale
:star:
Three recommendations, (Krell, 2014. p.12) :pen:
Engaging in cultural
immersion
Finding and leveraging influencers
Using global frameworks with local relevance
Ethical issues
:star:
Crane and Matten (2016) :pen:
Differing standards of customer protection
The exporting of consumerism and increase in cultural homogenisation
The targeting of marketing at lower-income consumers in developing countries
Geographical segregation of business operations
Shrinking world :pen:
Competition
:star:
The five forces of competition (Porter, 1980) :pen:
Global Marketing
:star:
Triggers for internation expansion
:star:
Satuarted domestic markets
Small domestic markets
Low-growth domestic markets
Customer drivers
Competitive forces
Cost factors
Portfolio balance
What country to operate within?
:question:
The macro environment
:pen:
STEEPLE :pen:
Trading systems
Soci-cultural considerations
Technological considerations
Economic considerations
Political and Legal considerations
Ethical considerations
The micro environment
:pen:
The market size and growrth rate
Competition
Cost of serving the market
Profit potential
Market access
Skills
Resorurces
Product adaption
Competitive advantage
International Marketing
:star:
Modes of entry
Indirect exporting
Direct exporting
Joint ventures
Strategic alliances
Global strategic partnerships
Licensing
Franchising
Contract manufactoring
Management contracting
Direct investment
Globalisation versus customisation
:pen:
Standardisation
Adaption
Target market segments?
Premium segment
Middle-market segment
Low-end segment
Global Brands and Branding
:star:
Brand identity
:star:
Kapferer's brand identity prism :pen:
Concise, sharp and interesting
Interntal formulation
Customer loyalty
Ispire
Trust
Satisfaction
Architecture and naming
Five types (Kohli et al., 2005, p.1507) :pen:
Coined
Arbitary
suggestive
Descriptive
Generic
Five steps (Kohli and Labahn, 1997) :pen:
Specifying the objectives of branding
Creation of candidates brand names
Evaluation of candidate brand names
Choice of a brand name
Trademark registration
Logo
Tribes and communities
:star:
The tribal clover : (Cova and Cova, 2001):pen:
Brand reputation
:star:
External evaluation
Individual perception
People aspire to consume
Brand equity
:star:
Accounting goodwill
Created over time
Recognition
Spontaneous recall of the brand
Consumption
Buyer's consideration
Other brands will consider purchasing
Brand Content
:star:
"What does the brand have to say when its not talking about its products" (Kapferer, 2012, p. 142) :pen:
Corporate social responsibility (CSR)
Ethics