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Summary International Marketing (English)
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English summary International Marketing (The Essentials of Global Marketing) Chapters: 1 2 3.1 and 3.2 4.1 to 4.4 5.1 to 5.3 6.1 to 6.3 7 8 9 10.1 to 10.5
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Summary Strategic International Marketing - Q3 2019
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Summary/samenvatting Strategic International Marketing chapter/hoofdstuk 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, 12
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samenvatting ESSENTIALS OF GLOBAL MARKETING
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SAMENVATTING INTERNATIONALMARKETING
Business Studies jaar 2
,Inhoudsopgave
Chapter 1................................................................................................................................................2
Chapter 2................................................................................................................................................7
Chapter 3..............................................................................................................................................11
Chapter 4..............................................................................................................................................13
Chapter 5..............................................................................................................................................17
Chapter 6..............................................................................................................................................21
Chapter 7..............................................................................................................................................22
Chapter 8..............................................................................................................................................26
Chapter 9..............................................................................................................................................28
Chapter 10............................................................................................................................................33
,Chapter 1
The process of developing the global marketing plan:
1. The decision to internationalize
2. Deciding which markets to enter
3. Market entry strategies
4. Designing the global marketing programme
5. Implementing and coordinating the global marketing programme
>>> Appendix: market research and decision-support system.
Internationalize:
In the face of globalization and an increasingly interconnected world many firms attempt to expand
their sales into foreign markets. International expansion provides new and potentially more profitable
markets. However, internationalization in unlikely to be successful unless the firm prepares in
advance. Advance planning has often been regarded as important to the success of new international
ventures (Knight, 2000).
Solberg (1997) discuss the conditions under which the company should ‘stay at home’ or further
‘strengthen the global position’ as two extremes. – figure 1.3
The framework is based on the following dimensions:
Industry globalism
Preparedness for internationalization
Industry globalism:
In principle, the firm can’t influence the degree of industry globalism, as it mainly determined by the
international marketing environment. The strategic behavior of firms depends on the international
competitive structure within on industry.
In the case of a high degree of industry globalism there are many interdependencies between
markets, customers and suppliers, and the industry is dominated by a few large powerful players
(global) whereas the other end (local) represents a multi domestic market environment, where
markets exist independently from one another.
Preparedness for internationalization:
This dimension is mainly determined by the firm. The degree of preparedness is depend on the firm’s
ability to carry out strategies in the international marketplace, i.e. the actual skills in international
business operations. These skills or organizational capabilities may consist of personal skills, the
managers’ international experience of financial resources.
, Development of the global marketing concept:
The form of the firm’s response to global market opportunities depends greatly on the management’s
assumptions or beliefs, both conscious and unconscious about the nature of doing business around
the world. This wordview of a firm’s business activities can be described as the EPRG framework. This
framework has four orientations:
Ethnocentric: The home country is superior and the needs of the home country are most
relevant.
Polycentric: Each country is unique and therefore should be targeted in a different way.
Regiocentric: The word consists of regions. The firm tries to integrate and coordinate its
marketing programme within regio’s, but not across them.
Geocentric: The word is getting smaller and smaller. The firm may offer global product
concepts but with local adoption.
The regioncentric and geocentric firm seeks to organize and integrate production and marketing on a
regional or global scale. Each international unit is an essential part of the overall multinational
network, and communication and controls between headquarters and affiliates are less top-down
than in the case of the ethnocentric firm.
Definition of global marketing:
The firm’s commitment to coordinate its marketing activities across national boundaries in order to
find and satisfy global customer needs better than the competition. This implies that the firm is able
to:
Develop a global marketing strategy, based on similarities and differences between markets.
Exploit the knowledge of the headquarters through worldwide diffusion and adaptions.
Transfer knowledge and ‘best practices’ from any of its markets and use them in other
international markets.
The globalization framework:
– Figure 1.4
This global marketing strategy strives to achieve the slogan ‘think globally but act locally’ through
dynamic interdependence between headquarters and subsidiaries. Organizations following such a
strategy coordinate their efforts, ensuring local flexibility while exploiting the benefits of global
integration and efficiencies, as well as ensuring worldwide diffusion of innovation.
Forces for global coordination / integration:
In the shift towards integrated global marketing, greater importance will be attached to transnational
similarities for target markets across national borders and less to cross-national differences. – figure
1.6
The major drivers for this shift are as follows:
Removal of trade barriers (deregulation)
Global accounts / customers
As customers become global and rationalize their procurement activities, they demand
suppliers provide them with global services to meet their unique global needs.
Relationship management / network organization
As we move towards global markets, it is becoming increasingly necessary to rely on a
network of relationships with external organizations.
Standardized worldwide technology
Worldwide markets
Worldwide markets are likely to develop because they can rely on world demographics.
Global village
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