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SCOPE AND CHALLENGES OF INTERNATIONAL MARKETING

SCOPE AND CHALLENGES OF INTERNATIONAL MARKETING. Marketing decision factors The marketing environment Domestic Foreign Trade policy. The International Marketing Task. Marketing Decision Factors Price Promotion Product Distribution The Domestic Environment The Foreign Environment.

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SCOPE AND CHALLENGES OF INTERNATIONAL MARKETING

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

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

  3. Domestic Environment • Political/legal forces • Competitive structure • Economic climate

  4. Foreign Environment • Political/legal • Economic • Culture • Geography/infrastructure • Distribution • Competition • Technology

  5. Some Obstacles • Ethnocentrism • Self-reference criterion • Explicit • Implicit • Solutions

  6. No direct foreign marketing Infrequent Regular International Marketing Global Marketing No firm boundaries between stages Note time issue Opportunities Resources Planning No one approach is best for all companies Some Stages in International Marketing

  7. 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

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

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

  10. 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.)

  11. 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)

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