Perfect Summary of International Marketing (LBVB20MES2)
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Course
International Marketing Management (LBVB20MES2)
Institution
Hanzehogeschool Groningen (Hanze)
Book
Principes van marketing
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the scope and challenge of international marketing
researching international markets
international market entry strategies
internatioanl segmentation and positioning
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Marketing Summary
Chapter 1 The scope and challenge of international
marketing
What is meant by international marketing
To understand the scope of the international marketing task
To comprehend the meaning and the importance of the self-reference criterion (SRC) in
international marketing
To identify and mange the factors influencing the internationalisation of companies
To evaluate the progression of becoming an international marketer
To see how international marketing concepts influence international marketers
Factors that led to its growth on international trade
Globalization of production and consumption is the biggest one
Interdependence of world economies – changes in economic conditions (growth or
recession) have global effects.
Advanced communication & transportation methods
Growth of regional free-trade areas.
o Free-trade area is where products can move freely, without tariffs and restrictions
o EU, NAFTA, ASEAN and APEC
More purchasing power throughout the world
Evolution of large emerging markets
Gets affected by the economic changes of the world
Economic change is change in economic conditions such as growth or recession.
International marketing is the performance of business activities that direct the flow of a
company’s goods to consumers in more that one nation for a profit.
The international Marketing Task
1
,2
,Environmental analysis tools
After pestel analysis you have to translate the trends with secondary data. Turn them into
Opportunities & Threats.
Be aware of uncontrollable environmental elements external analysis – external
opportunities & threats.
Internal analysis – internal Strengths & Weaknesses. Develop Marketing strategy – match S
with O and W with T. But prioritize, be critical.
Marketing mix (4P) decisions: standardization vs. Adaptation – arguments based on market
research.
3
, Market relativism – avoid basing marketing strategies and decisions on own culture &
experience. Use wisely SWOT, Porter’s 5 Forces, PESTEL and all models for market analysis
and strategy development
Environmental adaptations
Markets must be aware of the uncontrollable environmental elements in foreign markets. Marketers
must avoid engaging in marketing relativism
Marketing relativism – basing marketing strategies and judgements on one’s own culture and
experience.
Self-reference criterion (SRC)
Considering one’s own conditions, values and norms while evaluating others. Could lead to:
Failure to recognise the need to take actions
Discounting another culture’s differences
Reacting to a situations in a way that is offensive to one’s hosts
Recognising its existing in our behaviour is the best way to control it.
Types of orientations to international marketing management
Domestic market extension orientation (ethnocentric) focus on their own country
Multi-domestic market orientation (polycentric)
Global marketing orientation (geocentric, also regiocentric)
EPRG schema: classifies firms by their orientation. Like ethnocentric, polycentric, Regio centric or
geocentric
Domestic market extension orientation
Domestic company seeks sales extension of its domestic products into foreign markets
Characteristics of domestic market extension orientations
Domestic business is the priority
Foreign sales are seen as profitable extension of domestic operation
Not much effort is expended to adapt the marketing mis to foreign markets
Markets with demand similar to the home market are pursued
Firms with this approach are classified as ethnocentric in the EPRG schema.
Multi domestic market orientation
Firm believes that country markets are vastly different, warranting an independents programme for
each country.
Subsidiaries operative independently
Domestic market and ech of the country markets have separate marketing mixes
Products, advertising campaigns, pricing and distribution decisions are localised
Control is decentralised
Firms with this approach are classified as polycentric in the EPRG schema
Global marketing orientation
Firm’s marketing activity is global and its market coverage is the world
4
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