Class notes International Marketing MKTE401 Hollensen, ISBN: 9781292251806
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Vak
MKTE401
Instelling
Foreign Trade University
Boek
Global Marketing
This is my notes on International Marketing course. This is the Marketing perspective when you decide to enter a certain market - how you are going to be aware of the customer or consumer's insights and painpoints.
marketing 1.0: product - cu co hang hoa la duoc (demand > supply)
marketing 2.0: solution - customer’s need
marketing 3.0: invisible value (tac dong den bac cao hon cua thap nhu cau
maslow)
marketing 4.0: gia tri ca nhan dat trong gia tri xa hoi - dong gop duoc gi cho xa
hoi
service duoi dang entertainment, education, escapist, aesthetic,…
Marketing quốc tế 1
, 4.
product ⇒ solution ⇒ co-creation (seller and buyer join together to create products)
price ⇒ cost of customers ⇒ anything that is counted as currency
place ⇒ where is convenient for customers ⇒ online communities
advertisement (TV, newspaper ⇒ not mutual communication) ⇒ communication
(mutual, responsive) ⇒ informal, word of mouth (review, rating,..)
5. International marketing is the multinational process of marketing
6.
International & multinational marketing Global marketing
sell products for more than 2 markets (tren 2 la duoc) treat the world as one market
Trung Nguyen Unilever
Marketing quốc tế 2
, 7. Global marketing concept/orientation
ethnocentric: home country is superior
polycentric: each country should be targeted in a different way (localization)
regiocentric: integrate and coordinate marketing program within regions
geocentric: one product for all countries, but small adaptation (think globally, act
locally⇒ vi du?) (glocalization)
8. ⇒ what is the difference between localization & glocalization & globalization?
glocalization = globalization + localization
glocalization takes the advantage of globalization of economy of scale, high-speed of
roll-out product (depends on the product), low complexity (easily suitable for people
around the world ⇒ don't have to change)
glocalization takes the advantage of localization of culturally close to consumer,
flexible to customer needs, regional and local market penetration ⇒ change/create
Marketing quốc tế 3
, the product ⇒ customers are more in favor of what they are familiar with
Henkel noticed that European women usually wear dark clothes ⇒ Persil black ⇒ Persil
abaya for Muslim women (localization) ⇒ similar insight, different branding
9. Domestic and international marketing similar? No
International: domestic + >2 uncontrollable of foreign environment ⇒
unfamiliar problems (law, social norms, consumer buying patterns,…) + levels of
uncertainty (changes in regulations of foreign country, foreign currency,…) ⇒
research more, update tech, more language,…
10. International marketing task:
marketing decision factors: product, promotion, channel of distribution, research
activities (controllable factors)
research of the domestic environment:
can apply the same price to a similar market
if the foreign market fails, can go back to the mother country
to see if the government can support the tariff or capital
research the foreign environment: is that country attractive
⇒ if domestic marketing (only pay attention to 1&2) ⇒ if international marketing
(1&2&3)
11. internationalization motives (motivation comes from within)
proactive: stimuli to attempt strategy change
reactive: reacts to pressures or threats
12. internationalization triggers (factors from the outside):
internal trigger
import as inward internationalization: country A import from country B (inward
internationalization) → when country A have hold knowledge of the product, market,
Marketing quốc tế 4
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