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3-1. Chapter Ten Local Marketing in Emerging Markets. MKT568 Global Marketing Management Dr. Fred Miller. Scenario.

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chapter ten local marketing in emerging markets
3-1

Chapter Ten Local Marketing in Emerging Markets

MKT568

Global Marketing Management

Dr. Fred Miller

scenario
Scenario

Castillo Tools SA is an Spanish manufacturer of small electrical hand tools (drills, small saws, screwdrivers, etc.) . The firms offers several types of products with multiple models in each line. Each line includes wired and cordless tools as well as sets of tools using the same battery recharging system. Separate promotional efforts focus on professional and do-it-yourself markets, but both convey product durability, reliabilty and the benefits each model for its target segment. Prices vary from discount to expensive in each line, but are slightly above competitors’ prices at each product level. The firm sells across Euope through hardware stores, hypermarkets and online retailers. In international markets the firm wishes to exploit its patent-protected produces by reaching new customers in new markets

global marketing decisions in this chapter
Global Marketing Decisions in this Chapter
  • What social and market conditions are dominant in emerging markets? What marketing research tools, strategy and tactics are most appropriate?
  • What general marketing approaches are most effective in emerging markets?
  • How should these strategies be adapted to:
    • China
    • India
an optimal entry mode matrix
An Optimal Entry Mode Matrix

Product/Market Situation

Exhibit 6.3

three marketing environments
Three Marketing Environments

Product/Market situation

Exhibit 9.1

dominant marketing dimensions
Dominant Marketing Dimensions

Product/Market Situation

Exhibit 9.2

dominant marketing dimensions9
Dominant Marketing Dimensions

Product/Market Situation

Task Emerging New Growth

Mature

Marketing strategy:

Strategic focus

Market

Participation

Compete for share

development

in growth

Lead/follow

Domestic/foreign

Strengths/

Competitive Focus

weaknesses

Low end

Limited

Wide

Product line

Basic

Advanced

Adapted

Product design

Rare

Selective

Fast

New product

intro

Affordable

Status

Value

Pricing

Awareness

Image

Value-added

Advertising

Build-up

Penetrate

Convenience

Distribution

Awareness

Trial

Value

Promotion

Extra

Desired

Required

Service

Exhibit 9.2

cont.

global marketing decisions in this chapter10
Global Marketing Decisions in this Chapter
  • What social and market conditions are dominant in emerging markets? What marketing research tools, strategy and tactics are most appropriate?
  • What general marketing approaches are most effective in emerging markets?
  • How should these strategies be adapted to:
    • China
    • India
local marketing in emerging markets
Local Marketing in Emerging Markets
  • Market analysis
    • marketing infrastructure, income levels, currency convertibility
  • Product strategy
    • simplified, low-cost line; some high-end opportunities
  • Pricing
    • balance between skimming and penetration, innovation required
  • Promotion
    • limited media, less clutter, importance of visual images
  • Distribution and Service
    • key factor, imagination required, personal service available
emerging markets success strategies
Emerging Markets: Success Strategies
  • Seek compatible objectives
  • Help develop local industry
  • Be sensitive to local cultures and values
  • Provide training across functional areas
  • Contribute to social development
  • Document contributions
  • Adopt long term perspective
global marketing from emerging markets
Costa Rican

Gourmet Coffee

Direct from Grower

World

Art

From

Novica

Chinese Jade Seller:

From eBay to

seller’s site

Global Marketing from Emerging Markets?
global marketing decisions in this chapter15
Global Marketing Decisions in this Chapter
  • What social and market conditions are dominant in emerging markets? What marketing research tools, strategy and tactics are most appropriate?
  • What general marketing approaches are most effective in emerging markets?
  • How should these strategies be adapted to:
    • China
    • India
marketing in china
Marketing in China
  • Market trends
    • Huge market potential tied to economic development
    • Barriers - import licenses, tariffs, currency controls, trading companies
    • Joint venture, Special Economic Zone opportunities
    • Role of Hong Kong’s trading companies
    • Importance of establishing personal relationships - guanxi
  • Market analysis
    • Segmentation: geographic and urban/rural segments
    • Positioning: acceptance of global brands, localization of names
marketing in china17
Marketing in China
  • Marketing strategy
    • Product: positive view of well known, foreign brands, 4 big things
    • Price: high price sensitivity, but imports commonly higher
    • Distribution: weak national infrastructure, regional rollouts, many intermediaries state-owned
    • Promotion: government control, limited media penetration, authenticity
global marketing decisions in this chapter18
Global Marketing Decisions in this Chapter
  • What social and market conditions are dominant in emerging markets? What marketing research tools, strategy and tactics are most appropriate?
  • What general marketing approaches are most effective in emerging markets?
  • How should these strategies be adapted to:
    • China
    • India
marketing in india
Marketing in India
  • Market trends
    • Huge market potential tied to development of middle class
    • Socialist era (1950-80) of market control
    • Liberalization (1980-present), political risk
    • Dual market, large emerging middle class
    • Resurgence of domestic brands
  • Market analysis
    • Segmentation: urban middle class, poor rural population
    • Positioning: growing acceptance of global brands, more demanding
marketing in india21
Marketing in India
  • Marketing strategy
    • Product: full product line, significant first move effects
    • Price: value orientation in middle class, especially for unknown brands
    • Distribution: weak infrastructure, requires greater attention/investment
    • Promotion: linguistic/cultural localization, no direct attacks
women s bank of bangladesh video
Women’s Bank of Bangladesh Video
  • What economic statistics are used to portray Bangladesh in this video?
  • How does the Women’s Bank initiative respond to these conditions? What elements of controversy does it generate? How does the bank address them?
  • What lessons might a brewer exporting to Bangladesh learn from the strategies of the Women’s Bank?
women s bank of bangladesh video24
Women’s Bank of Bangladesh Video

Update:

  • Mohammed Yunus and Grameen Bank shared the 2006 Nobel Peace Prize,
  • Grameen now has 6 million borrowers worldwide
  • Microlending and microfranchising have been widely adopted by other organizations.
chinese management modern china videos
Chinese Management & Modern China Videos
  • Explain the role of the following in traditional Chinese management style and practices
    • Family relationships and quanxi
    • Harmony and loyalty
    • Span of control and operational responsibility
    • Respect for superiors and creativity
  • How are these values related to the traditions covered in the Legacy of China video?
  • How are these values related to Hofstede indices for China?
    • High Power Distance, Low Uncertainty Avoidance
    • Collective, Masculine
  • How have state-owned enterprises, rural populations and private enterprises been affected by economic reform?
chapter ten local marketing in emerging markets26
3-1

Chapter Ten Local Marketing in Emerging Markets

MKT568

Global Marketing Management

Dr. Fred Miller

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