Managing marketing in the global economy
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Managing Marketing in the Global Economy. Key Concepts. Global Firm. Operates in two or more countries and captures R&D, production, logistics, marketing, and finance advantages not available to purely domestic competitors. Breakthrough Marketing: Samsung.

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Presentation Transcript

Global firm
Global Firm

Operates in two or more countries and captures R&D, production, logistics, marketing, and finance advantages not available to purely domestic competitors.


Breakthrough marketing samsung
Breakthrough Marketing: Samsung

  • Samsung has invested more that $6 billion in marketing to upgrade its image!


Major decisions in international marketing
Major Decisions in International Marketing


Deciding whether to go abroad
Deciding Whether to Go Abroad

Factors drawing companies into the international arena:

  • Higher profit opportunities

  • Need a larger customer base to achieve economies of scale or want to reduce dependence on any one market

  • To counterattack global competitors

  • Customers are going abroad and require international service


Deciding whether to go abroad1
Deciding Whether to Go Abroad

Risks:

  • Might not understand foreign preferences and could fail to offer a competitively attractive product

  • Might not understand the other country’s business culture or know how to deal with foreign regulations

  • May lack managers with international experience

  • Other country might change its commercial laws, devalue its currency, or undergo a political revolution and expropriate foreign property


Deciding which markets to enter
Deciding Which Markets to Enter

Product

Geography

Income and population

Political climate

Other factors



Deciding on the marketing program

Standardized marketing mix

Adapted marketing mix

Deciding on the Marketing Program


For discussion
For Discussion

Discuss whether these products should standardize or adapt when selling in the United States:

  • British automobiles

  • French wine

  • South African diamonds

  • Australian clothing



Price and distribution
Price and Distribution

  • Price escalation—must add the cost of transportation, tariffs, importer margin, wholesaler margin, and retailer margin to the product’s factory cost.

  • Gray market—branded products are diverted from normal or authorized distribution channels in the country of product origin or across international borders.


Country of origin effects
Country-of-Origin Effects

Country-of-origin perceptions

Distinct attitudes and beliefs about brands or products from particular countries.


Internal marketing
Internal Marketing

Requires that everyone in the organization buy into the concepts and goals of marketing and engage in choosing, providing, and communicating customer value.


Organizing the marketing department
Organizing the Marketing Department

  • Functionally

  • Geographically

  • Product or brand

  • Market

  • Matrix

  • Corporate/division


Relations with other departments
Relations with Other Departments

  • Marketing vice president, or CMO, tasks:

    • Coordinate the company’s internal marketing activities

    • Coordinate marketing with finance, operations, and other company functions to serve the customer


Managing the marketing process
Managing the Marketing Process

Marketing implementation

The process that turns marketing plans into action assignments and ensures that they accomplish the plan’s stated objectives.


Marketing metrics
Marketing Metrics

Sales metrics

Customer readiness to buy metrics

Customer metrics

Distribution metrics

Communication metrics



The marketing audit
The Marketing Audit

A comprehensive, systematic, independent, and periodic examination of a company’s (or business unit’s) marketing environment, objectives, strategies, and activities to identify problems and opportunities and to recommend improvements.


The marketing audit1
The Marketing Audit

  • Examines six major marketing components:

    • Macro-environment and task environment

    • Marketing strategy

    • Marketing organization

    • Marketing systems

    • Marketing productivity

    • Marketing function


Socially responsible marketing

Legal behavior

Ethical behavior

Social responsibility behavior

Socially Responsible Marketing


Socially responsible marketing1

Cause-related marketing

Sustainability

Socially Responsible Marketing


Marketing skills cause related marketing
Marketing Skills:Cause-Related Marketing

  • Choose a cause that fits the company’s or brand’s image and be meaningful to employees and other stakeholders.

  • Prepare to brand the program, perhaps with a new self-branded organization associated with the cause.

  • Plan and manage it as carefully as all other marketing activities.


Reflection
Reflection

Think of other examples of cause-related marketing.

Reflect on the case of Cabbages & Condoms campaign in Thailand


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