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