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Glob al Marketing

Glob al Marketing. What is global marketing?. It is the process of focusing the resources and objectives of a company on global marketing opportunities. Companies engage in global marketing to take advantage of marketing opportunities, and to survive. Decisions in Global Marketing.

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Glob al Marketing

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  1. Global Marketing

  2. What is global marketing? It is the process of focusing the resources and objectives of a company on global marketing opportunities. Companies engage in global marketing to take advantage of marketing opportunities, and to survive.

  3. Decisions in GlobalMarketing • Why go abroad? • Which markets to enter? • How to enter? • What marketing program? • What marketing organization?

  4. Why go abroad? • Higher profit opportunities • Achieving economies of scale • Reducing vulnerabilities • Countering competition • Higher customer expectations in terms of service and products • Competitive advantage

  5. Risks involved • Knowledge of the new market and preferences of customers • Culture of foreign markets • In-house availability of personnel able to operate in foreign markets • Environmental constraints that could affect business eg. laws, regulations, political turmoil, etc

  6. World View of Personnel • An ethnocentric person believes that his way of life is the best and therefore finds other ways of life as odd. • A geocentric person sees similarities and differences in the way of life in different nations • A polycentric person sees each and every nation as unique and differently • A regiocentric person sees similarities within the region and differences across the rest of the world

  7. Companies feel their way into new foreign markets • Limited exports through an agent • Having their own office • Establishing subsidiaries • Having your own production unit

  8. Which markets to enter? • What kind of business you are in? • What kind of potentials exist ? • Waterfall approach – entering countries in sequence • Sprinkler approach – entering countries simultaneously

  9. Nomenclature of globalmarkets • Developed • Developing • BRIC, NAFTA, SAFTA,EU, APEC, ASEAN, etc. • WTO

  10. How to enter? • Domestic based export department • Overseas subsidiary • International sales organization • Foreign based agents • Licensing • JVs • Direct investment

  11. Global Marketing Programs • Standardized marketing mix • ‘Think global, act local’ • ‘Think local, act global’ • ‘Glocalised’ marketing mix

  12. Leveraging Country-of -origin • Japan – automobiles, consumer electronics • USA – soft drinks, jeans, high-tech gadgets • Germany – engineering, beer, • France – perfumes, wines • Italy – clothes, fashion • Switzerland – chocolates, banking • India – spices, gems and jewellery

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