Summary of International Marketing - 3rd year of Business Management Marketing: sales - Artevelde Hogeschool
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Course
International Marketing
Institution
Arteveldehogeschool (Artevelde)
Complete summary of the International Marketing course at Artevelde University of Applied Sciences in Ghent. 3rd year bachelor course in Business Management Marketing: Sales.
All the subject matter of the exam can be found here, excluding guest speakers.
Samenvatting International
Marketing
Inhoud
LECT01 Global Marketing.......................................................................................................................3
1.0 The concept: International marketing..........................................................................................3
1.1 International business..................................................................................................................3
Global Marketing............................................................................................................................3
1.2 Globalization vs localization..........................................................................................................4
1.3 The global marketing concept......................................................................................................5
LECT02 Internal Analysis.........................................................................................................................5
2.1 Global marketing & Management style (LSE vs SME)...................................................................5
LSE vs SME......................................................................................................................................6
Strategic drift..................................................................................................................................6
Economy of scale............................................................................................................................6
Economy of scope (Synergy)...........................................................................................................6
2.2 Decision to Internationalize..........................................................................................................6
Internal factors...............................................................................................................................6
External factors...............................................................................................................................7
2.3 Internationalization theories........................................................................................................7
Uppsala internationalization model................................................................................................7
Network model...............................................................................................................................8
Born global.....................................................................................................................................8
LECT03 External analysis: Market selection............................................................................................8
3.1 Global market research................................................................................................................8
International market research........................................................................................................8
3.2 The International market selection process (IMS)........................................................................9
Build a model for International Selection.......................................................................................9
4 steps............................................................................................................................................9
LECT04 External analysis: DESTEP.........................................................................................................11
4.1 Demographic factors..................................................................................................................11
4.2 Economic factors........................................................................................................................11
Economic development................................................................................................................11
Exchange rates..............................................................................................................................12
, Trade policy..................................................................................................................................13
Regional economic integration.....................................................................................................13
4.3 Socio – cultural factors...............................................................................................................14
Levels of culture............................................................................................................................14
Layers of culture...........................................................................................................................14
5 dimensions + one of Hofstede...................................................................................................15
LECT05 Self@Home: External analysis: DESTEP....................................................................................16
Elements of culture to be researched...........................................................................................16
LECT06 Self@home: External analysis: DESTEP....................................................................................17
4.4 Technological factors..................................................................................................................17
4.5 Ecological factors........................................................................................................................18
4.6 Political / legal factors.................................................................................................................18
LECT07 Market approach.....................................................................................................................19
6.1 Segmenting – targeting – positioning (STP)................................................................................19
Micro segmentation.....................................................................................................................19
Target market strategies...............................................................................................................19
Product positioning......................................................................................................................19
6.2 Market entry strategies..............................................................................................................20
Export modes................................................................................................................................20
Contractual modes.......................................................................................................................21
Investment modes........................................................................................................................22
LECT08 Market approach.....................................................................................................................22
6.3 Adapting the marketing mix, 4P’s...............................................................................................22
Place (distribution).......................................................................................................................22
Product.........................................................................................................................................23
LECT09 Marketing approach.................................................................................................................26
Price..............................................................................................................................................26
LECT10 Market approach.....................................................................................................................28
Promotion.....................................................................................................................................28
, LECT01 Global Marketing
1.0 The concept: International marketing
Application of marketing pinciples to more than one country
- Find international customer needs & satisfy them
Questions
Why do I want to go international?
Is it realistic?
Do I know what the competition will be?
…
5 decisions
1. Whether to internationalize (do we have the knowledge)
2. What markets to enter
3. Market entry strategy (who will run stores, outsourcing, …)
4. Designing the International Marketing Plan (IMP)
5. Implementing & coordinating the IMP
See Case Albert Heijn, Lect01, slide 29 – 37
1.1 International business
Internationalization vs Globalization
Globalization Internationalization
Change in the world economy Activity of firms on international scale
Trend of firms selling p/d in the whole world Between or among nations
Global economic integration of national Limited to a region/ few countries
economies into one global economy
Response to globalization
Global Marketing
Finding & satisfying global customer needs
Coordinating marketing activities
EPRG framework Ethnocentric
Polycentric
Ethno - centric
Each country views everything out of their own view
Own cultural perception
Home = superior
Everything the same as in the home country Regiocentric
Geocentric
+ Cheap (no costs & efforts for adaptation)
High degree of control
One – way communication
- No full exploitation of worldwide opportunities
Inefficient
No opportunity to learn from other cultures
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