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Summary Global Marketing (keegan 9th edition)
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Summary of the book: Global Marketing by Warren J Keegan. The book is huge so hope this summary will help. Goodluck!
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Global Marketing and Export ManagementA summary
,Chapter 1 – Introduction to Global Marketing §1:
Introduction and Overview
An organization that engages in global marketing focuses its resources and
competencies on global market opportunities and threats. A fundamental
difference between regular marketing and global marketing is the scope of
activities.
§2: Principles of Marketing: A review
Marketing is one of the functional areas of a business, distinct from finance and
operations. For any organization operating anywhere in the world, the essence
of marketing is to surpass the competition at the task of creating perceived value
– that, a superior value proposition – for customers. The value equation is a
guide to this task: Value = Benefits/Price (money, time, effort, etc.).
§3: Global Marketing: What It Is and What It Isn’t
An important managerial task in global marketing is learning to recognize the
extent to which it is possible to extend marketing plans and programs
worldwide, as well as the extent to which adaption is required. The way
company addresses this task is a reflection of its global marketing strategy
(GMS).
,§4: The Importance of Global Marketing
Many countries have recognized the importance of conducting business
activities outside their home country. Industries that were essentially national in
scope only a few years ago, are dominated today by a handful of global
companies.
§5: Management Orientations
The form and substance of a company’s response to global marketing
opportunities depend greatly on management’s assumptions or beliefs – both
conscious and unconscious – about the nature of the world. Ethnocentric
orientation = A person who assumes that his or her home country is superior to
the rest of the world.
Polycentric orientation = The belief or assumption that each country in which
a company does business is unique. Opposite to ethnocentric.Regiocentric
orientation = A region becomes the relevant geographic unit; management’s
goal is to develop an integrated regional strategy.
Geocentric orientation = Views the entire world as a potential market and
strives to develop integrated global strategies.
§6: Forces Affecting Global Integration and Global Marketing
- Multilateral Trade Agreements
, - Converging Market Needs and Wants and the Information
Revolution
- Transportation and Communication Improvements
- Product Development Costs
- Quality
- World Economic Trends
- Leverage
- Restraining Forces o
ManagementMyopiaandOrganizationalCulture o NationalControlso
OppositiontoGlobalization
Chapter 2 – The Global Economic Environment
§1: The World Economy – Overview of Major Changes
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