Readings Block 2: Main Themes of Competing in a Global Context 🌍- Toby Noble

Global Trade Environment

WTO

Uruguay Round

1986-94 negotiations

Previously GATT

World

Trade

Organisation

Five Forces (Porter)

Suppliers

Substitutes

Buyers

Potential Entrants

Sunk costs (initial investment)

Competitors

Economic and Financial Flows 💹

Portfolio Investments

buying/selling

shares

Global imbalanaces

Surpluses

Defecits

Foreign Direct Investments (FDIs)

Investments by multinationals made in other countries

Aim to gain control of a market within a country

Balance of payments

Accounts

Current

Capital

Financial

Comparative position of countries

IFRS & IASB

International

Financial

Reporting

Standards

International

Accounting

Standards

Board

Goal

Transparency

Accountability

Efficiency

Unchanged since 2000

Standards

Items

Assets

Liabilities

Income

Expense

Measurement

Presentation

Disclosures

New standards

Research

recommendations

National advisors

ASAF

International Marketing 💹

Micro environment

Market size

Growth rate

Competition

Costs of serving market

Profit potential

Market access

Organisation capabilities

Skill

Resources

Product adaptation

Competitive advantage

Macro environment

STEEPLE

Trading systems

Socio-cultural considerations

Technological considerations

Economic considerations

Triggers

Saturated domestic market

Small domestic market

Low-growth domestic market

customer drivers

Competitive forces

Cost factors

Portfolio balance

Entry

Exporting

Direct

Indirect

Joint ventures

Strategic alliances

Global strategic partnerships

Licensing

Franchising

Contract manufacturing

Management Contracting

Direct investment

Branding

What?

Product 🎁

Service 🛠

Place 🗺

Experience 🎡

Person 🙋‍♂️

Community 👨‍👩‍👧‍👦

Names

Coined

Arbitrary

Suggestive

Descriptive

Generic

Facets

Physique

Personality

Culture

Relationship

Reflection

Self-image

Identity = Internal

Image = External

Brands

Global 🌎

Same

International 🗺

Differing

Local 🚩

Limited

Innovating

Innovation

Crucial for branding over time

Ethical marketing

Put people first

Standard above the law

Take responsibility

Ethical principles

Ethical Issues

geographical segregation

standards of consumer protection

lower controls

Could take advantage

Safety standards

marketing in lower-income developing areas

Marketing beyond reach of audience

Dissatisfaction

Exploitation

consumerism and cultural homogenisation

consumerism

increased likelihood of depression/anxiety

Environmental impact

Don't offend locals

CSR

Corporate Social Responsibility

conduct and impact of business