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Define international marketing and identify the different levels of international involvement. Describe the different company orientations and philosophies toward international marketing. Identify environmental and firm-specific drivers that direct firms toward international markets. Identify obstacles preventing firms from successful international ventures. International marketing helps companies reach their full potential and the maximum return for their stockholders.
Many companies find that, to keep up with competition, they must reach for new international consumers. For many companies, an international presence is essential to their success.
Exxon, General Motors, Microsoft and Mitsubishi earn profits higher than the gross domestic product of many low-income countries. Many small businesses can attribute their success and even survival to international markets.
Companies with products in late stages of the product life cycle find that emerging markets offer them new life? Privatization in countries where government monopolies had dominated for decades has made it possible for multinationals to compete for local energy, airline, railway, and telecommunications industries. Domestic marketing: The firm has the least commitment to international marketing Focus on domestic consumers and on the home-country environment. The firm is indirectly or directly involved in exporting.
The firm considers the international market as an extension of the domestic market. The firm focuses on international consumers in one or more countries.
International activities are not coordinated across different countries. The firm coordinates its marketing activities across different countries without focusing primarily on national or regional segmentation. The strategy is possible due to the emergence of uniform global consumer segments. The strategy entails an efficient global allocation of company resources. Export marketing: -? International marketing: -? Low or no international commitment? Domestic focus Export Marketing?
Limited international commitment International Marketing? Substantial international commitment Global Marketing? Extensive international commitment? Focus on market segments rather than countries or regions? Direct or indirect? Focus on exporting countries or regions Copyright Atomic Dog Publishing, Internationalization Philosophies Human Resources Management internationalization philosophy affects all functional areas of the corporation. Guided by domestic market extension concept.
Domestic strategies, techniques, and personnel are perceived as superior. International markets are secondary, regarded primarily as outlets for surplus domestic production. International marketing plans are developed in-house by the international division. Disneyland Resort Paris emphasizes a U.
Guided by the multidomestic marketing concept. Focuses on the importance and uniqueness of each international market. Firms establish independent businesses in each target country. Fully decentralized, minimal coordination with headquarters.
Marketing strategies are specific to each country? Guided by the global marketing concept. Divisions are organized based on location. Regional offices coordinate marketing activities, using a region-wide marketing approach.
Marketing strategies aimed at market segments, rather than geographic locations. Maximizes efficiencies worldwide and provides standardized product or service throughout the world. Example: Visa. Visa is omnipresent in world markets. This ad suggests to French consumers that Visa is widely used.
The primary drivers in the business environment are:? Competitive pressure from international companies will force the company to expand to new markets, even less profitable ones. Regional Economic and Political Integration? Integration facilitates international trade for companies in member countries, and for companies from countries outside of the area.
Subsidiaries can be established in these markets to take advantage of free trade within the region. Media development exposes consumers worldwide to foreign programming.
Consumers worldwide are exposed to similar products, services, and entertainment, and marketing communications. The Internet offers small and medium enterprises in both high- and low-income countries unlimited international exposure. Technology offers a broad reach to these businesses whose advertising budget cannot cover the high cost of international broadcast and print advertising.
Transportation and Telecommunications? Lower cost and higher quality communication due to satellite technology, teleconferencing, and e-mail. Allow for frequent interaction between subsidiaries in foreign countries and the headquarters. Allow for outsourcing of customer service. The introduction of containers in intermodal transportation and electronic communication between suppliers and customers greatly facilitates the transportation of physical goods.
Economic Growth? Economic growth created markets of high potential for international brands, while also opening previously closed markets. Emerging middle class with increasing buying power in big emerging markets such as those of Brazil and India.
Opening of new markets that were previously closed, such as those of China and Vietnam, and those of the former Eastern Bloc. Transition to a Market Economy? Transition to a market economy created important new markets and opportunities to transform inefficient government-owned companies into successful enterprises. Slovenia is already a member of the European Monetary Union. China and Vietnam are opening doors to multinationals.
Converging Consumer Needs? The emergence of uniform consumer segments facilitates marketing strategies worldwide. Examples of consumer segments worldwide:? The primary firm drivers for international expansion are:?
Product Life Cycle Considerations: Companies prolong the product life cycle of their late-maturity brands by entering growth markets. High New Product Development Costs:? New-product-development costs are rapidly increasing and product life cycles are decreasing. As a result, firms must look beyond the home-country market to fully recover the high product development costs and to make a profit.
Standardization, Scale Economies, Cheap Labor Price competition during the maturity stage of the product life cycle drives firm to new international markets in search of cheap labor. The firm lowers costs — and prices — as it takes advantage of:?
Economies of scale Standardization, and? Cheap labor. Experience Transfers Companies benefit from lessons they learn in different parts of the world and transfer their knowledge to other markets they serve. The primary obstacles to internationalization are the self-reference criterion, government barriers, and competitive barriers. Self-reference Criterion? Conscious and unconscious reference to own national culture and home-country norms while operating in the host country, which can prevent firms from adapting to local business environments and serving the needs of local consumers.
To counter the impact of the self-reference criterion, the corporation must: - Select adaptable personnel for international assignments. Government Barriers?
Restrictions placed on international corporations by imposing: - Tariffs - Import quotas - Other limitations, such as restrictive import license awards. Barriers Imposed by International Competition?
Among the competitive barriers international companies commonly encounter are: Blocked channels of distribution Exclusive retailer agreements Price cutting Advertising blitzes Copyright Atomic Dog Publishing, Chapter Summary? Discussed different levels of international involvement — domestic, export, international, and global marketing. Addressed internationalization philosophies: Ethnocentric, polycentric, regiocentric, and geocentric.
Discussed the drivers of international expansion:? Environmental competition, regional integration, removal of trade barriers, improvements in transportation, telecommunications and technology, and converging consumer needs.
Firm-specific prolonging product lifecycle, recovering new product development costs, price competition, standardization, economies of scale and cheap labor, experience transfers. Addressed obstacles to entry — the self-reference criterion, government barriers, and competitive barriers.
2019 Solutions Manual for Textbooks
Asia Pacific Journal of Marketing and Logistics