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Summary CE8 | International Marketing Strategy: Analysis, Development and Implementation |Chapter 1 | ISBN: 9781473778696 |9th edition$3.36
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CE8: Internationale Marketingstrategie (2000CE8E22)
Institution
Hogeschool Van Amsterdam (HvA)
Book
International Marketing Strategy: Analysis, Development and Implementation
Summary: International Marketing Strategy: Analysis, Development and Implementation Chapter 1
9th edition
ISBN: 9781473778696
Can also be used for: CE8: International Marketing Strategy (2000CE8E22)
Practice questions +answers also available, see my account
chapter 1 an introduction to international marketing
what is international marketing
international marketing defined
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CE8: Internationale Marketingstrategie (2000CE8E22)
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Chapter 1: An introduction to international marketing.
The strategic importance of international marketing.
International marketers/marketing must build trust with government, businesses and
consumers when global events change the social, political and economic landscape.
→ Example: 2008-2009 financial crisis and 2020-2021 Covid-19 pandemic had an impact on
international trade.
World Trade Organization (WTO) = Organisatie die erop toeziet dat er tussen landen wordt
nagestreefd op het gebied van handel wat er is afgesproken.
Demography is also a global problem, population change especially.
→ Not growing as fast as before but still growing.
→ Growth varies greatly by region.
Personal wealth = total value of adult's non-financial assets - debts owed.
Last years increase in personal wealth.
→ Recent increase of 8.5%.
→ Rank mostly in the following areas:
- Over US$100,000
- US$25,000 to 99,999
- US$5000 to 24,999
- Below US$5000
Average power decreased by 4.4% in 2020 during the first half Covid-19 pandemic, and
increased again at the end of 2020.
In many countries more than 50% of the population pre-adult, thereby one world's largest
internal markets: youth market.
Consumers are increasingly looking for transnational in their consumer identity.
→ Increasingly engaged internationally (Think for example: banks, television channels,
stores, social media channels or car brands).
Strategic positioning for competitiveness is also becoming increasingly important.
Companies need managers who have the skills to analyze, plan and implement strategies
across the world.
What is international marketing?
Marketing includes:
- Focusing on customer wants and needs.
- Identifying the best method to meet those needs and wants.
- Orienting the company to the process of providing this satisfaction.
- Achieve organizational objectives (organisatiedoelstellingen).
→ This best prepares the company to gain competitive advantage in the market.
1
, The external marketing environment can be analyzed
through the PESTLE model.
- P = Political
- E = Economic
- S = Social
- T = Technological
- L = Legal
- E = Environment/Sustainability
When a company moves from a domestic market to
an international market, there are 2 main differences:
1. Differences in approach;
2. There may be uncontrollable elements that make
the marketing environment more complex and
multidimensional.
→ This requires managers to find new skills and
capabilities to keep up as a company.
International marketing defined
Easiest meaning international marketing = Organization makes one or more marketing
mix decisions across national borders.
Most difficult meaning international marketing = As an organization sets up
production/processing facilities and coordinates marketing strategies around the world.
--> Process of efficiently and effectively managing and marketing a variety of services and
products that cross national borders.
3 Different levels of marketing:
1. Domestic marketing;
→ Company manipulates and manages a set of
controllable variables.
→ Price, advertising, distribution and
production/service attributes in a largely
uncontrollable external environment.
→ Environment consists of: economic structures, competitors, cultural values and legal
infrastructures within certain political or geographical country boundaries.
2. International marketing;
→ Operating in a number of foreign markets.
→ Large differences between markets (For example: in cost and price).
3. Global marketing.
→ Company controls, coordinates and integrates a whole range of marketing programs into
global effort.
→ Primary goal: Create synergy → Growth organization.
→ Managers have dual responsibility, so to speak.
International marketing can be:
2
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