Summary
Summary International Marketing
- Course
- Institution
All parts of the slides is included
[Show more]
Seller
Follow
achillecallens
Content preview
INTERNATIONAL MARKETING01 PRACTICAL INFORMATION AND INTRODUCTION
- The application of marketing principles to more than one country
Find international customer needs and satisfy them better than the competition
- 5 decisions:
1. Whether to internationalize
2. What markets to enter
3. Market entry strategies
4. Designing the International Marketing Plan (IMP)
5. Implementing & coordinating the IMP
1. Internationalization vs Globalization
1. Globalization: the change in the world economy to a more interdependent system
The trend of firms buying, developing, producing and selling product/services in most
countries and regions of the world
Global economic integration of many formerly national economies into one global
economy
2. Internationalization: the activity of firms on an international scale and the resulting
impact of their activities.
International, means between or among nations
International can be limited to a region or a few countries
A response to Globalization.
- Global marketing
Finding and satisfying global customer needs
Coordinating marketing activities
Depends on the global maturity. This world view of a firm’s business activities can be
described with the “EPRG framework”
Finding global customer needs and satisfying Centralizatio
n Adaptation
global customer needs better than the
competition.
Standardizati
Delegation
on
, EPRG framework: ethnocentric, polycentric, regio-centric and geocentric.
1. Ethnocentric:
o Home country is ‘superior’
o its needs most relevant
o highly centralized decision-making
o product is a copy-paste of home
o organization & technology same as in home country
+ cheaper, high degree of control, one-way communication
- no full exploitation of opportunities worldwide, inefficient: decisionmakers need to travel a
lot, no opportunity to learn from other cultures
2. Polycentric:
o each country is unique
o decision-making: host country orientation
o highly decentralized
o products & marketing: country-by-country: different conditions for production and
marketing in different locations
o each national market is distinctive
o focus on differences between home country & foreign country
o marketing strategy – localization / adaption
o companies’ basic objective – public acceptance
o will try to adapt to different conditions in order to maximize profits in each location
+ better understanding of local needs, better exploitation of local market potential,
easier targeting with local teams, maximize profits in each location with specific targets
- no economies of Scale, high cost of local responsive marketing mix, lack of coordination
& control, no knowledge transfer between locations
3. Regio-centric:
o The world consist of regions
o These regions will be based on similarities
o Operational strategies formulated based on entire region rather than individual
countries.
o Reasons: easier interaction, some sensitivity towards local, transitional step
4. Geocentric:
o The world is one common market
o Develop global product concepts without adaption to the product, but depends on
the industry
o HQ & subsidiaries collaborate closely
, o Not possible in FMCG, while easier in technology sector
o Downsides: no specific targeting, trend of deglobalization
2. Globalization vs localization
1. Globalization:
Global integration
Recognizing the similarities between international markets and integrating them into the
overall global strategy
2. Localization:
Market responsiveness
Responding to each market’s wants and needs
Globalization + Localization = glocalization (think global, act local)
, 02 NTERNAL ANALYSIS
1. Global Marketing & Management Style (LSE vs SME)
- Comparison between LSE’s and SME’s
- Formation of strategy/decision making processes (Management Stule LSE’s and Stategic drift)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller achillecallens. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.30. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80796 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now