Welcome to MKT 769 Seminar in International Marketing!

1. Welcome to MKT 769Seminar in International Marketing! • Introduction to the course • Overview of course issues • Approach • Project

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

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

4. Profitability Growth Economies of scale Risk spread Access to import inputs Uniqueness of product or service Marketing opportunities associated with the life cycle Spreading R&D costs Reasons for Entering Global Markets

5. 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 Some Drivers of International Trade

6. Trade Theories • Many traditional theories are based on labor productivity • Absolute advantage • Relative advantage • Factor input makes more sense • Cost of labor • Availability of infrastructure • Regulatory environment

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

8. 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

9. 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

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