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Marketing Mix (4 Ps)

Marketing Mix (4 Ps). Product Exporter/licensor/JV/Strategic Alliance principal usually has success in home or other international markets Product modification required? Localization, approvals and certificates, packaging & labeling, measures, etc. Marketing Mix (4 Ps). Promotion Pricing

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Marketing Mix (4 Ps)

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  1. Marketing Mix (4 Ps) • Product • Exporter/licensor/JV/Strategic Alliance principal usually has success in home or other international markets • Product modification required? Localization, approvals and certificates, packaging & labeling, measures, etc

  2. Marketing Mix (4 Ps) • Promotion • Pricing • Place (Distribution) • These elements of the marketing mix usually require local knowledge

  3. Mattel’s 1990s Internationalization of Barbie Strategic Analysis • Cost Control • Global Product Focus Country Analysis • Japanese market opportunities getting easier

  4. Mattel’s 1990s Barbie Internationalization Market Analysis • Large market • Few strong competitors • Distribution difficult • High prices • Heavy advertising needed Entry Mode • Wholly owned subsidiary • Import Barbie • Distribute and advertise Barbie

  5. Mattel’s 1990s Internationalization of Barbie Business Plan • Open up sales to specialty discounters • Price aggressively • Listen to customer

  6. Market Size and Potential (STP) Market Segment = Girls Target Market Segment = Dolls for Girls Product Positioning = Barbie

  7. Barbie Doll Advertising Strategies • Encourage purchase of toys: stimulates primary demand for toys, toys for girls and thus sales of Barbie

  8. Active Market Entry • Country Analysis Report • Market Analysis

  9. Marketing - Entry Mode Analysis Promotional Mix: Foreign importer familiar with practices, language and regulations DISTRIBUTION:THIS IS THE KEY! All of the above issues depend upon channel(s) needed in the market

  10. The communication process Fields of experience Noise Channel of Message Communication Receiver Source Encode Decode Noise Feedback loop Noise

  11. Export Pricing Policy Issues • Channel length: longer channels than domestic markets, drives up end user prices   • Price influence: less influence over decisionsby channel members • Price-setting authority: How much pricing authority should be given to agents or to subsidiary?

  12. Foreign Sales Pricing Strategies - uniform global price to reduce gray/parallel market activity vs. pricing to market. - pricing to attract and holdintermediaries - pricing to establish a product position (e.g. high priced “foreign luxury item”) - test pricing to learn market

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