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Here are three reasons for the shift from domestic to global marketing as given by the authors of the textbook, Global Marketing Management—3rd Edition by Masaaki Kotabe and Kristiaan Helsen, 2004.
[1] Global Marketing Network is the worldwide membership association for marketing and business professionals. With Ashcroft International Business School at Anglia Ruskin University it offers a full validated UK Masters leading to an MSc Global Marketing Practice, designed to raise standards in marketing practice worldwide. More information at [2]
Given
the rapid internationalisation of business activities, understanding
of Global Marketing is becoming a requirement for a marketing or
general management career. This ten-week course is designed to introduce
students to the theory, nature and practice of marketing and consumer
behaviour. It addresses international marketing challenges facing
companies involved in foreign activities (exports, licensing, foreign
subsidiaries).
The
course focuses on the management response to parameters, which differ
from those in domestic marketing. The themes discussed during the
course include international marketing environment, international
marketing research, selection of international markets, international
product policy, selection and management of international distribution
partners, price discrimination/harmonisation, international communications,
strategic planning and organising for international marketing, and
entrepreneurial opportunities in international markets including
e-commerce.
Objectives
The
main objective of the course is to introduce the nature and basic
concepts of marketing in a global context. The role and importance
of marketing in modern business organisations will be discussed.
The essential elements of marketing mix as well as their relevance
and importance in defining business strategies are emphasised. In
more specific term, the course aims
To
provide understanding of the external factors that are shaping
the marketing manager's activities in the global economy
To
identify the mechanisms for creating and sustaining customer values
in international markets
To
develop a critical appreciation of the development and implementation
of marketing strategies and programmes in international contexts
To
provide understanding of the organisation of international marketing
operations
Learning
Outcomes
After
completing this course, students should be able:
To
understanding of models of culture.
To
understanding of models of comparative consumer behavior
To
understanding of regional effects on marketing
To
understanding of psychology of persuasion
Have
ability to apply theories of culture and persuasion to the development
of international marketing strategies
To
understand the marketing process and its underlying concepts;
To
have sufficient knowledge of the elements of the marketing mix
which is incorporated in the firms business strategy;
To
appreciate the role of essential environmental and organisational
factors in the development of a marketing plan.
To
apply both managerial judgement and analytical approaches to marketing
problems.
In the 1970s the market segmentation argument was framed as standardization versus adaptation. In the 1980s it was globalization versus localization and in the 1990s it was global integration versus local responsiveness. The fundamental question was whether the global homogenization of consumer tastes allowed global standardization of the marketing mix. The Internet revolution of the 1990s with its unprecedented global reach added a new twist to the old debate.
Even today, some companies are answering global as the way to go. For example, executive at Twix Cookie bars recently tried out their global campaign with a new global advertising agency, Grey Worldwide. With analysis, perhaps a global campaign does make sense for Twix. But look at the companies that are going in the other direction. Levi’s jeans have faded globally in recent years.
Ford has chosen to keep acquired nameplates such as Mazda, Jaguar, and Volvo. And perhaps the most global company of all, Coca-cola is peddling two brands in India – Coke and Thums Up. Coke’s CEO explained at the time, Coke has had to come to terms with a conflicting reality. In many parts of the world, consumers have become pickier more pennywise or a little more nationalistic and they are spending more of their money on local drinks whose flavors are not part of the Coca-Cola lineup.
Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy.[1] The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.[2]
Market Research is the key factor to get advantage over competitors. Market research provides important information to identify and analyze the market need, market size and competition.
Market research,as defined by the ICC/ESOMAR International Code on Market and Social Research, includes social and opinion research, [and] is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.[3]
Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes.[1]
Marketing research is often partitioned into two sets of categorical pairs, either by target market:
Consumer marketing research, and
Business-to-business (B2B) marketing research
Or, alternatively, by methodological approach:
Qualitative marketing research, and
Quantitative marketing research
Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns. The field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.[2]
Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing.[3]
A Market analysis is a documented investigation of a market that is used to inform a firm's planning activities particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company.
Marketing strategy[1][2] is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage[3]. A marketing strategy should be centered around the key concept that customer satisfaction is the main goal.
Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry. Achieving Competitive Advantage strengthens and positions a business better within the business environment.
International marketing (IM) or global marketing refers to marketing carried out by companies overseas or across national borderlines. This strategy uses an extension of the techniques used in the home country of a firm.[1] It refers to the firm-level marketing practices across the border including market identification and targeting, entry mode selection, marketing mix, and strategic decisions to compete in international markets.[2] According to the American Marketing Association (AMA) "international marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives."[3] In contrast to the definition of marketing only the word multinational has been added.[3] In simple words international marketing is the application of marketing principles to across national boundaries. However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term.
The intersection is the result of the process of internationalization. Many American and European authors see international marketing as a simple extension of exporting, whereby the marketing mix4P's is simply adapted in some way to take into account differences in consumers and segments. It then follows that global marketing takes a more standardised approach to world markets and focuses upon sameness, in other words the similarities in consumers and segments.
The business portfolio is the collection of businesses and products that make up the company. The best business portfolio is one that fits the company's strengths and helps exploit the most attractive opportunities.
The company must:
(1) Analyse its current business portfolio and decide which businesses should receive more or less investment, and
(2) Develop growth strategies for adding new products and businesses to the portfolio, whilst at the same time deciding when products and businesses should no longer be retained.
The two best-known portfolio planning methods are the Boston Consulting Group Portfolio Matrix and the McKinsey / General Electric Matrix (discussed in this revision note). In both methods, the first step is to identify the various Strategic Business Units ("SBU's") in a company portfolio. An SBU is a unit of the company that has a separate mission and objectives and that can be planned independently from the other businesses. An SBU can be a company division, a product line or even individual brands - it all depends on how the company is organised.
The McKinsey/GE Matrix overcomes a number of the disadvantages of the BCG Box. Firstly, market attractiveness replaces market growth as the dimension of industry attractiveness, and includes a broader range of factors other than just the market growth rate. Secondly, competitive strength replaces market share as the dimension by which the competitive position of each SBU is assessed.
The diagram below illustrates some of the possible elements that determine market attractiveness and competitive strength by applying the McKinsey/GE Matrix to the UK retailing market:
When your supply chain is well synchronized, your company operates flawlessly. Your costs go down, your service quality improves, your time to market decreases, and your customers are satisfied. BizConn keeps all products flowing smoothly and economically through BizLink Group's efficient global logistics channels in order to keep you satisfied.
The noun product is defined as a "thing produced by labor or effort"[1] or the "result of an act or a process",[2] and stems from the verb produce, from the Latin prōdūce(re) '(to) lead or bring forth'. Since 1575, the word "product" has referred to anything produced.[3] Since 1695, the word has referred to "thing or things produced". The economic or commercial meaning of product was first used by political economist Adam Smith.[4]
In marketing, a product is anything that can be offered to a market that might satisfy a want or need.[5] In retailing, products are called merchandise. In manufacturing, products are purchased as raw materials and sold as finished goods. Commodities are usually raw materials such as metals and agricultural products, but a commodity can also be anything widely available in the open market. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project.
In general, product may refer to a single item or unit, a group of equivalent products, a grouping of goods or services, or an industrial classification for the goods or services.
A related concept is subproduct, a secondary but useful result of a production process.
Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability.
Promotion is one of the four elements of marketing mix (product, price, promotion, distribution). It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision.[1]
The specification of five elements creates a promotional mix or promotional plan. These elements are personal selling, advertising, sales promotion, direct marketing, and publicity.[2] A promotional mix specifies how much attention to pay to each of the five subcategories, and how much money to budget for each. A promotional plan can have a wide range of objectives, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image. Fundamentally, however there are three basic objectives of promotion. These are: 1.) To present information to consumers as well as others 2.)To increase demand 3.)To differentiate a product.[3]
There are different ways to promote a product in different areas of media. Promoters use internet advertisement, special events, endorsements, and newspapers to advertise their product. Many times with the purchase of a product there is an incentive like discounts, free items, or a contest. This is to increase the sales of a given product.
The term "promotion" is usually an "in" expression used internally by the marketing company, but not normally to the public or the market - phrases like "special offer" are more common. An example of a fully integrated, long-term, large-scale promotion are My Coke Rewards and Pepsi Stuff. The UK version of My Coke Rewards is Coke Zone.
Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost, market place, competition, market condition, and quality of product. Pricing is also a key variable in microeconomic price allocation theory. Pricing is a fundamental aspect of financial modeling and is one of the four Ps of the marketing mix. The other three aspects are product, promotion, and place. Price is the only revenue generating element amongst the four Ps, the rest being cost centers.
Pricing is the manual or automatic process of applying prices to purchase and sales orders, based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple orders or lines, and many others. Automated systems require more setup and maintenance but may prevent pricing errors. The needs of the consumer can be converted into demand only if the consumer has the willingness and capacity to buy the product. Thus pricing is very important in marketing.
An organizational structure consists of activities such as task allocation, coordination and supervision, which are directed towards the achievement of organizational aims.[1] It can also be considered as the viewing glass or perspective through which individuals see their organization and its environment.[2]
Many organizations have hierarchical structures, but not all.
An organization can be structured in many different ways, depending on their objectives. The structure of an organization will determine the modes in which it operates and performs.
Organizational structure allows the expressed allocation of responsibilities for different functions and processes to different entities such as the branch, department, workgroup and individual.
Organizational structure affects organizational action in two big ways. First, it provides the foundation on which standard operating procedures and routines rest. Second, it determines which individuals get to participate in which decision-making processes, and thus to what extent their views shape the organization’s actions.[2]
Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and business organizations as a whole. Applied ethics is a field of ethics that deals with ethical questions in many fields such as medical, technical, legal and business ethics.
Business ethics can be both a normative and a descriptive discipline. As a corporate practice and a career specialization, the field is primarily normative. In academia descriptive approaches are also taken. The range and quantity of business ethical issues reflects the degree to which business is perceived to be at odds with non-economic social values. Historically, interest in business ethics accelerated dramatically during the 1980s and 1990s, both within major corporations and within academia. For example, today most major corporate websites lay emphasis on commitment to promoting non-economic social values under a variety of headings such as ethics codes and social responsibility charters. In some cases, corporations have redefined their core values in the light of business ethical considerations, for example, BP's "beyond petroleum" environmental tilt.
Political corruption is the use of legislated powers by government officials for illegitimate private gain. Misuse of government power for other purposes, such as repression of political opponents and general police brutality, is not considered political corruption. Neither are illegal acts by private persons or corporations not directly involved with the government. An illegal act by an officeholder constitutes political corruption only if the act is directly related to their official duties.
World map of the 2010 Corruption Perceptions Index by Transparency International, which measures "the degree to which corruption is perceived to exist among public officials and politicians". High numbers (blue) indicate less perception of corruption, whereas lower numbers (red) indicate higher perception of corruption.
The activities that constitute illegal corruption differ depending on the country or jurisdiction. For instance, certain political funding practices that are legal in one place may be illegal in another. In some cases, government officials have broad or poorly defined powers, which make it difficult to distinguish between legal and illegal actions. Worldwide, bribery alone is estimated to involve over 1 trillion US dollars annually.[1] A state of unrestrained political corruption is known as a kleptocracy, literally meaning "rule by thieves".
PolicyPitch seeks to hold politicians accountable for their actions by providing more transparency. It allows people to track and comment on local legislation, contact politicians, and propose your own policies.
SamuelGriffith.org.au, McGrath, Amy. Chapter Seven “One Vote, One Value: Electoral Fraud in Australia”. Proceedings of the Eighth Conference of The Samuel Griffith Society.
Basic Marketing is the market leading
principles text domestically. Basic Marketing offers a very
thorough integration of the latest marketing themes, topics,
and examples woven throughout the body of the text. This integration
of themes, topics, and examples is carefully blended with
the text's traditional strengths of clear, accessible communication,
a focus on management decision-making in marketing, and completely
integrated coverage of special topics such as technology,
ethics, international perspectives, relationship marketing,
and services. This is the first book to develop and present
the 4 P's framework when describing the components of the
marketing mix (Product, Price, Place, Promotion). Where most
principles of marketing texts have separate supplement authors,
Bill Perreault is the creator of every item in the package.
This unique involvement ensures quality, accuracy, and reliability.
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