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Review of Global Marketing Management

Review of Global Marketing Management. Sandy Mcantire Jonathan Peters Zhibin Wang January 9 2012. Summary : 1. Global market and relative conceptions 2. Global market analysis 3. Global market strategy: 4. Current issues and cases. Global market conceptions. Changing globe:

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Review of Global Marketing Management

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  1. Review of Global Marketing Management Sandy Mcantire Jonathan Peters Zhibin Wang January 9 2012

  2. Summary: 1. Global market and relative conceptions 2. Global market analysis3. Global market strategy:4. Current issues and cases

  3. Global market conceptions • Changing globe: • What’s global market: • Why go to global market:

  4. Changing globe: Change the transportation and communication technology; E-commerce changes all models business and national; end of the capitalism/socialism struggle; capital movements replaced trade levels; production “uncoupled” from employment

  5. What’s global market: A “homogenous global village”, Levitt advised organizations to develop standardized , high-quality world products and globe using standardized advertising, pricing, and distribution(p.8,global marketing management by warren J. Keegan).

  6. Why go to global market: Access to products not available at home; get raw materials for products; better quality of life; comparative advantage; mature market at home; under utilitized capacity; leverage competitive advantage; compete in home market of others. Cases: Ghana and south Korea.

  7. Global market analysis Micheal porter’s five forces

  8. National competitive advantage analysis.( porter’s diamond of national advantage)

  9. Factor condition: The national ability to customers for the industry’s product or service. Human resources, Physical resources, Knowledge resources, Infrastructure and Capital

  10. Demand condition The nature of domestic demand and the sophistication of domestic for the industry’s product or service. Rapid home market growth ,Push or Pull ,Composition of demand ,Pattern of growth at home

  11. Relative and supporting industries The existence or absence in the country of supplier and related industry that are also internationally competitive The advantage that a nation gains by being home to internationally competitive industries in fields that are related to, or in direct support of, other industries

  12. Company strategy, strategy, and rivalry The conditions in the nation that govern how companies are created, organized, and managed, and how intensely they compete domestically.

  13. Global Marketing Strategy • Cost • Leadership • Focus • Differentiation • Product • Focused

  14. Global Marketing Strategy • Broad market strategies • Cost leadership—low price • Product differentiation—premium price • Narrow market strategies • Cost focus—low price • Focused differentiation—premium price

  15. Global Marketing Strategy • Building Layers of Advantage • Build a wide portfolio of advantages • Develop portfolios by establishing layers on top of one another • Move along the value chain to strengthen competitive advantage • Searching For Loose Bricks • Search for opportunities in the defensive walls of competitors whose attention is narrowly focused • Focused on a market segment • Focused on a geographic area to the exclusion of others

  16. Global Marketing Strategy • Changing The Rules of Engagement • 4 Cs of Partner Selection • Complementary skills • Cooperative cultures • Compatible goals • Commensurate levels of risk

  17. Current Issues • Economic Freedom • Corruption & Foreign Corrupt Practices Act • Currency Rate Changes • Tariffs • Intellectual Property Protection • Fair Trade

  18. Stages of Market Development High-Income Countries • There is Money at the BOP • BOP Markets are brand & value conscious • BOP Market is connected • BOP Customers accept advanced technology readily • Ease of access to BOP markets 86% of the world’s population Low-Income Countries

  19. FORTUNE AT THE BOTTOM OF THE PYRAMID, Prahalad Philosophy for Developing Products and Services for BOP market • The basic economics of the BOP market are based on • small unit packages • low margin per unit • high volume • high return on capital employed

  20. Anheuser-Busch • Global Advertising Strategy • Contemporary Relevance • SPEAKS TO “Consumer’s Heart” • Knows my language- relevant to my lifestyle • Brand Quality • SPEAKS TO “Consumer’s Head” • Value perception

  21. Anheuser-Busch Right Product Right Distribution Brand Development Basics Right Profit Right Image

  22. Cautionary Tales • Nike: • Nike was forced to recall thousands of pairs of Air Bakin, Air BBQ, Air Grill, and Air Melt shoes because of a decoration intended to resemble fire on the back of the sneakers. Unfortunately, when viewed from right to left (which is the way Arabic is read), the flames resembled the Arabic world for Allah. Muslims saw this as a desecration on two levels: 1) the name of Allah may not be used on a product, and 2) Arabic tradition deems that the foot is unclean. Facing worldwide protests and boycotts, Nike implemented an enormous recall of the expensive sneakers. • Kiss, Bow, or Shake Hands 2nd Edition, 2006, Terri Morrison and Wayne A. Conaway

  23. Discussion Miller Time is the “MILLER WAY” Rooted in the “urban cool” mindset Globalmiller.com website

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