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Full Summary International Marketing 2023—2024 Business Management-Marketing
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Chapter I: Global Marketing .................................................................................................................................... 5
1.1 international business .................................................................................................................................. 7
1.2 Globalization versus Localization ............................................................................................................... 12
1.3 The global marketing concept .................................................................................................................... 15
Chapter II: Decision to internationalize (internal analysis) ................................................................................... 17
2.1 Global Marketing & Management Style (LSE versus SME) ......................................................................... 17
Step 1: Decision to internationalize .............................................................................................................. 17
Economy of scale........................................................................................................................................... 19
Economy of scope (synergie) ........................................................................................................................ 20
2.2 Decision to Internationalize ....................................................................................................................... 21
A Internal factors........................................................................................................................................... 21
B external factors INFLUENCING THE DECISION ........................................................................................... 24
C competitiveness ......................................................................................................................................... 28
2.3 Internationalization theories ...................................................................................................................... 29
Uppsala Model (Stage Model):...................................................................................................................... 29
Network Model: ............................................................................................................................................ 29
Born Globals: ................................................................................................................................................. 29
Chapter III: External Analysis Market Selection .................................................................................................... 30
3.1 Global market research .............................................................................................................................. 30
A) International Market Research ................................................................................................................. 30
B) Link between global market research and the decision-making process ................................................. 30
C) Secondary & primary research ................................................................................................................. 31
D) Setting up an International Marketing Information system (MIS) ........................................................... 32
3.2 The International Market Selection process (IMS) ..................................................................................... 33
SME’s versus LSE’s ......................................................................................................................................... 34
Building a model for International Selection ................................................................................................ 35
Part IV: external analysis DESTEP .......................................................................................................................... 56
4.1 Demographic factors .................................................................................................................................. 56
4.2 Economic factors ........................................................................................................................................ 56
A Economic Development ............................................................................................................................. 57
B Exchange rates ........................................................................................................................................... 60
C Trade policy ................................................................................................................................................ 62
D Regional economic integration .................................................................................................................. 65
4.3 Socio-cultural factors .................................................................................................................................. 67
What is culture? – culture & marketing? ...................................................................................................... 67
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, Classification of culture ................................................................................................................................. 71
Element of culture to be researched ............................................................................................................ 80
4.4 Technological factors .................................................................................................................................. 86
Infrastructure & transport ............................................................................................................................ 86
Financial services........................................................................................................................................... 86
Telecom & internet ....................................................................................................................................... 86
4.5 Ecological factors ........................................................................................................................................ 87
Geography ..................................................................................................................................................... 87
Climate .......................................................................................................................................................... 87
Geographic location ...................................................................................................................................... 87
Important cities ............................................................................................................................................. 87
4.6 Political / legal factors ................................................................................................................................ 87
Types of government .................................................................................................................................... 87
Pressure groups............................................................................................................................................. 87
Boycotts ........................................................................................................................................................ 88
Legislation ..................................................................................................................................................... 88
Chapter V Market attractiveness .......................................................................................................................... 89
5.1 Macro level: national competitiveness ...................................................................................................... 89
Industry Cluster: Silicon Valley – the Antwerp Diamond District .................................................................. 90
Porter’s Diamond .......................................................................................................................................... 90
5.2 Meso level: competitiveness in an industry ............................................................................................... 97
Porter’s 5 forces model ................................................................................................................................. 97
5.3 Micro level: competitiveness on customer level ...................................................................................... 100
Porter’s Customer’s perceived value (Value Chain Analysis) ...................................................................... 100
Blue ocean strategy versus red ocean strategy .......................................................................................... 100
Chapter VI Market Approach .............................................................................................................................. 102
6.1 Segmenting – targeting – positioning....................................................................................................... 102
Micro-segmentation.................................................................................................................................... 102
Target market strategies ............................................................................................................................. 102
Product positioning ..................................................................................................................................... 104
6.2 Market Entry Strategies ............................................................................................................................ 107
A) Introduction Market Entry Modes .......................................................................................................... 107
B) Export modes .......................................................................................................................................... 108
C) Contractual entry modes ........................................................................................................................ 109
Contractual manufacturing: different subtypes .......................................................................................... 110
Investment modes ...................................................................................................................................... 112
6.3 Adapting the Marketing mix: distribution - Product - Price - Promotion ................................................. 115
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, Distribution (Place)...................................................................................................................................... 115
Product ........................................................................................................................................................ 124
Price ............................................................................................................................................................ 132
Promotion ................................................................................................................................................... 140
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