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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Managing Marketing in the Global Economy

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Managing marketing in the global economy

Managing Marketing in the Global Economy

Key Concepts


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


Five modes of entry into foreign markets

Five Modes of Entry into Foreign Markets


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


International product and communication strategies

International Product and Communication Strategies


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 control process

The Control Process


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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