CE8 International Marketing Strategy summary
Book: International Marketing Strategy: Analysis, Development and Implementation
The exam material for this course is as follows.
Sub test 1 (May 24) Textbook chapter 1 to 6. (Chapter 4 only until page 122.) All materials on
FBF up to lesson 6, including ppt's, webinars and support articles.
➔ Learning objectives writing like this are from the book, international marketing
strategy
Lesson 1 Introduction to international marketing
Why international marketing and general orientation, strategic marketing planningprocess,
mission, vision, SLEPT, emerging/developed markets
Learning objectives:
• Explain why international marketing can help you grow your business
• Discuss the differences between developed and less developed markets
• Understand the criteria required to evaluate a company’s international marketing
strategy
• Appreciate the key steps in the international marketing planning process
• Explain the differences between the mission and vision statement
• Explain and use SLEPT (to asses international markets)
• Difference between: export (domestic), international and global marketing
Explain why international marketing can help you grow your business
What is marketing?
Management process responsible for identifying, anticipating and satisfying customer
requirements profitably
This involves:
❖ Focusing on the needs and wants of customers
❖ Identifying the best method of satisfying those needs and wants
❖ Orienting the company towards the process of providing that satisfaction
❖ Meeting organizational objectives
Largery, uncontrollable extern marketing environment are the SLEPT factors:
Social, Legal, Economic, Political, Technological, Sustianable
What is international marketing?
What is international marketing (difference between international and domestic marketing)
There are many factors within international environment which substantially increase the
challenge of international marketing
Difference in:
- Culture -> often diverse and multicultural markets
, - Markets -> widespread and sometimes fragmented
- Data -> difficult to obtain and often expensive
- Politics -> regimes vary stability - political risk becomes an important variable.
- Governments -> can be a strong influence in regulating importers and foreign
business ventures. (influential on import and export)
- Economies -> varying levels of development and currencies
- Finance -> many difference finance systems and regulations
- Stakeholders -> commercial, home country and host country
- Business -> diverse rules, culturally influenced
- Control
Appreciate the key steps in the international marketing planning process
Setting up a business plan requires a strategic marketing planning.
Strategic marketing planning process
The planning process consist of six steps: SEISMI
1. Situation analysis
General and background information regarding the company. Mission, vision and
goals (SMART- goal or long therm strategy). Structure of the organization and current
strategies and/or tactics.
Once you’ve completed the situation analysis you can use the Abell’s business
definition model to define in what business this company is in. Completing step 1
with the Abell model is important, because this model forms the bridge to your
external analysis.
2. External analysis
Macro→DESTEP (SLEPT) Meso→Distribution-, branche-, Competitive- and customer-
analysis. End the meso analysis with the five forces model of Porter. (SLEPT at the end)
3. Internal analysis
Micro analysis – you can use the 7S MCkinsey, Value chain Porter and/or BCG-portofolio
4. Strategical analysis
With those key issues you can state the main problems of your company that need to
be solved.
, 5. Stating the Marketingstrategy
You make up four different options 0,1,2,3 which all contain different strategies. You
need a sustainable strategy to solve your company’s problem, you chose by the SFA
matrix.
6. Implementation plan
Use the STP (Segmentation, Targeting and Positioning) and the Marketing mix (4P’s)
The international marketing process:
These are the essentials when it comes to making a successful marketing plan:
Stakeholder expactations
Who are these stakeholders?
