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Welcome to MKGT 376:Global Marketing Strategy!

Welcome to MKGT 376:Global Marketing Strategy!. Introduction to the course Overview of course issues Approach Projects. Instructor: Lars Perner. Education: Ph.D. in marketing, University of Southern California, 1998

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Welcome to MKGT 376:Global Marketing Strategy!

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  1. Welcome to MKGT 376:Global Marketing Strategy! • Introduction to the course • Overview of course issues • Approach • Projects

  2. Instructor: Lars Perner • Education: • Ph.D. in marketing, University of Southern California, 1998 • M.B.A., B.A. (political science and psychology), Cal Poly, San Luis Obispo • Research interests: consumer behavior, consumer bargain hunting, pricing, branding, measurement individual differences, cross cultural marketing issues • Teaching interests: consumer behavior, international, principles, distribution, retailing, research methods • Country of birth: Denmark—immigrated at age 14 • Previous teaching experience: USC, Cal State L.A., Loyola Marymount, U of Maryland, George Washington University, U.C. Riverside

  3. Course philosophy • Why take this course? • DO “stop and think about tomorrow. Yesterday’s gone!” • Business problems are usually not neatly structured! • Expectations: • Hard work • Individual analysis, evaluation, innovation, and application • Evaluating quality of work

  4. SCOPE AND CHALLENGES OF INTERNATIONAL MARKETING • Marketing decision factors • The marketing environment • Domestic • Foreign • Trade policy

  5. Internationalization of Marketing • Global products • Global brands • Leading markets • The Product Life Cycle

  6. The International Product Life Cycle • Product categories will tend to spread first in developed countries • Resale of capital products • Country of origin effects over time

  7. The International Marketing Task • Marketing Decision Factors • Price • Promotion • Product • Distribution • The Domestic Environment • The Foreign Environment

  8. Domestic Political/legal forces Competitive structure Economic climate Foreign Political/legal Economic Culture Geography/ infrastructure Distribution Competition Technology Environments

  9. Obstacles to Trade: Protectionism • Differing interests of consumers and manufacturers • Benefits of trade tend to be more diffused than benefits to specific groups of protectionism

  10. Approaches to Protectionism • Tariffs • Quotas • “Voluntary” export restrictions • Subsidies to domestic producers/exporters • Non-tariff barriers • legal obstacles • differential treatment

  11. U.S. Protectionism--justified or not... • Defense industry • Agricultural products--e.g., beef, sugar • Textiles • Automobiles (“voluntary” import restrictions) • Steel

  12. Justifications for Protectionism • Protect infant industry • Resist “unfair” or inappropriate competition • Protect home market (ensure that product can be produced domestically)--defense • Intervene into temporary imbalance • Maintain domestic living standards • Preserve jobs • Bargaining power/retaliation (Super-301 provision in U.S.)

  13. Effects of Protectionism • Reduced competition ---> inflation • More tariffs • Weaken balance of payments (have to pay more in own currency) • Reduce choice to consumers • May induce global trade wars (vicious cycle)

  14. Stages in Globalization • Across country economies • For the individual firm • Customers • Competition • Suppliers

  15. Drivers of Globalization • Market Drivers • Global Customers and needs • Global channels • Opportunities for marketing transfer • Competitive Drivers • Cost Drivers • Economies of • Scale • Scope • Sourcing • Labor costs • Environmental regulations

  16. Technology Increasing speed of Product Life Cycles Internet Lower costs of entry into some markets Improved transportation and communication Governmental Trade agreements WTO NAFTA Regional agreements More Drivers

  17. Essential Global Marketing Assets • Products • Existing • New • Models of existing product lines • Extensions • Advertising/Promotion • Distribution

  18. Traditional economic perspective—based mostly on labor costs Absolute advantage Relative advantage Country Specific Advantages Labor costs Labor skill Infrastructure Legal and political stability Government policy and regulations Natural resources Perspectives on International Trade

  19. Firm Specific Advantages (FSAs) • Knowledge-Based • Marketing • Brand image • Distribution • Knowledge of markets • Transferability of FSAs • The value chain

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