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Global Marketing Management: Planning and Organization - Coggle Diagram
Global Marketing Management:
Planning and Organization
How global marketing management differs from international marketing management
Global markets continue to become homogeneous, smart companies focus on a common set of variables such as climate or language rather than looking at each country's market separately.
Benefits of Global
Marketing
:check: Economies of scale in production and marketing.
:check: Transfer of experience and knowledge between countries.
:check: Global diversity in marketing talent leading to new approaches.
:check:Global marketing ensures that marketers have access to the most demanding customers.
:check: Market Portfolio Distribution Provides Revenue And Operations Stability To Many Global Businesses
Planning for Global Markets
Planning is a systematic way of relating to the future. It is a commitment of resources for a country's market to achieve specific objectives.
Corporate planning
Strategic planning
Tactical planning
The need for planning to achieve company goals
The Planning process
Phase 1: Preliminary Analysis and Screening
Phase 2: Defining Target Markets and Adapting the Marketing Mix
Phase 3: Developing the Marketing Plan.
Phase 4: Implementation and Control
The important factors for each alternative market entry strategy
Exporting
Direct exporting:
the company sells to a customer in another country.
Indirect exporting:
the company sells to a buyer (importer or distributor) in the country of origin, which in turn exports the product
Contractual Agreements
They are long-term non-equity partnerships between one company and another in a foreign market.
Licensing: are a means to establish in foreign markets without large capital outlays.
Franchising is a rapidly growing form of license.
The increasing importance of international strategic alliances
An international strategic alliance (SIA) is a business relationship established by two or more companies to cooperate out of mutual need and share risks to achieve a common goal.
International Joint Ventures (IJVs) : It is a partnership of two or more participating companies that have come together to create a separate legal entity.
Direct foreign investment is direct investment within a foreign country
Organizational patterns for the headquarters activities of multinational companies generally fall into one of three categories:
Centralized
Regionalized
Decentralized