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R21: International Marketing - entering & operating in international…
R21: International Marketing - entering & operating in international markets
Modes of Entry
Global strategic partnerships
Franchising
Joint ventures
Equity
Contractual
Licensing
Temporary sale of rights in exchange for royalty payments
Direct Exporting
Direct Investment
Indirect Exporting
Management contracting
Contract manufacturing
3 Main market segments
Middle-market
Attractive proposition for MNCs
Low-end
Innovation opportunities
Premium
Shrinking
Globalisation -v- customisation
Considerations
Degree of standardisation
Adaption to foreign markets
BALANCE
Think globally, act locally
Adapt marketing mix
Adapt offerings and communications to local conditions and preferences
Adverts
Language & accents
Regulations
Cultural differences
Distribution networks
Local customs
Infrastructure
Developing & emerging markets
Challenges
Weak legal protection
Infrastructure
Ethical issues
Unpredictable customer behaviour