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International Marketing

International Marketing. Dr. Elmos Konis. The ‘natural’ way to growth and internationalisation. The ‘natural’ way to growth and internationalisation. Another way to grow:. A third way for company growth: New products. A fourth way to company growth.

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International Marketing

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  1. International Marketing Dr. ElmosKonis

  2. The ‘natural’ way to growth and internationalisation

  3. The ‘natural’ way to growth and internationalisation

  4. Another way to grow:

  5. A third way for company growth: New products

  6. A fourth way to company growth

  7. The three ways to view markets. Which is best for SME’s? • Aggregation • Segmentation

  8. The three ways to view markets • Customisation • And a fourth, mass customisation

  9. Which type of market should SME’s choose? • B2B (you need a specific audience to notice you) • Retail (you also need a specific audience to notice you!)

  10. What should SME’s do to go international? (The basic principles of marketing still hold true! Slide 12) • Is there a need for the product abroad? • Is there a niche? • Do we know the TM well? (stay focused!) • Who are the competitors? How powerful are they? Can there be an advantage? (e.g. personal relations) • Would local collaborations be a better bet? Do we have a network? Relationship marketing! • What are the difficulties (legal, political, cultural, technological) • If you can’t beat them join them. Large companies cooperate with SME’s • Do you have an established brand? If not, find another way. E.g…

  11. The International Marketing Mix 7 Foreign environment (uncontrollable) 1 Economic forces Political/legal forces Domestic environment (uncontrollable) 2 7 Competitive structure Political/ legal forces Competitive Forces (controllable) Cultural forces Environmental uncontrollables country market A Price Product 3 Channels of distribution Promotion Environmental uncontrollables country market B 6 Level of Technology Geography and Infrastructure Economic climate Environmental uncontrollables country market C 4 5 Structure of distribution

  12. Consider the perception of your country in the host country

  13. Seek information and help!

  14. Get help! • E.g. 09/11/2011 - ‘Small Business, Big World — a new partnership to help SMEs seize global opportunities’ The European Commission’s new strategy aimed at helping SME’s to expand their business outside the European Union: • Strengthening and mapping the existing supply of support services • Creating a single virtual gateway to information for SMEs • Making support schemes at EU level more consistent • Promoting clusters and networks for SME internationalisation • Rationalising new activities in priority markets • Leveraging existing EU external policies

  15. How does a small firm ‘fight its war’? • Attack • Defend • Guerilla

  16. The great ‘leveller’ • The internet! (Thanks Sir Tim Berners Lee for the WWW!)

  17. Today you can be ‘born global’ and succeed even if you are small How come? Access to and affordability of technology The information highway ‘Availability’ of innovation Ease of travel Ease of communication, building contacts

  18. Today you can be ‘born global’ and succeed even if you are small How come? Ease of entry in some industries Help from various sources Fewer barriers to trade Migration of talent Today, people do more research before buying

  19. Inherent strengths of SME’s • Flexibility and adaptability • Speed of response in developing markets • Niche marketing and ‘unique’ differentiation • Lower overheads • Today, the ‘quirky’ exotic image sells

  20. Deciding Whether to Go Global • Reasons to consider going global: • Foreign attacks on domestic markets • Foreign markets with higher profit opportunities • Stagnant or shrinking domestic markets • Need larger customer base to achieve economies of scale • Reduce dependency on single market • Follow customers who are expanding or moving

  21. A quick look at Cyprus

  22. So, what just happened to Cyprus?

  23. It’s a Free Market

  24. We can Learn from the big boys: e.g. Demonstrate that you can think globally! (And you understand different values)

  25. BUT, Avoid the big mistakes of big companies! Honda "Fitta" is a slang rather vulgar word used in Sweden, Finland, Denmark and Norway to designate the vxxxxa. Later, the Honda "Fitta" was renamed "Honda Jazz"

  26. In most Spanish-speaking countries, we associate "Pajero" with "pajear" which is the vulgar version of "mxxxxxxxxe". It was renamed "Mitsubishi Montero"

  27. In Portuguese-speaking countries, "Pinto" means "pxxxs“.

  28. It speaks for itself!

  29. ‘Fly in leather’:"Vuela en cuero," which means simply "Fly naked"

  30. Kekoukela" which means in some dialects "Mare stuffed with wax" or even "Toad stuffed with wax" . Characters changed to Kokoukole" or "Kekoukele" which means "Happiness in the mouth"

  31. The traditional "Finger lickin'good“, in Chinese, the slogan became: "We will cut your fingers" or "Eat your fingers"

  32. Puff in English slang is ‘gay’

  33. Hhm…

  34. No comment

  35. So, there is room for SME’s too!

  36. Convergence or divergence?

  37. The importance of language

  38. SLEPT

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