Part Fifteen

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Copyright 2007, Prentice Hall, Inc. . 15-2. Examine how the worldwide exchange framework, monetary, political-legitimate, and social situations influence an organization

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Section Fifteen The Global Marketplace

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Discuss how the worldwide exchange framework, monetary, political-lawful, and social situations influence an organization's universal showcasing choices. Portray three key ways to deal with entering worldwide markets. Clarify how organizations adjust their showcasing blends for worldwide markets. Distinguish the three noteworthy types of global advertising association. Copyright 2007, Prentice Hall, Inc.

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Background Established in 1893 in Atlanta drug store. 1900: Coke was accessible in outside nations. 1940s: constructed packaging plants abroad to supply warriors. Development powered by solid promoting: "I'd get a kick out of the chance to purchase the world a Coke" TV advertisement. Presently in developing markets. How They Did It Balances mark building and worldwide institutionalization with neighborhood adjustment. Reliable situating, bundling, and taste. Brands, flavors, advertisements, value, dissemination, and advancements are adjusted to nearby markets. Sprite: a worldwide achievement. Contextual analysis Coca-Cola – Successfully Going Global Copyright 2007, Prentice Hall, Inc.

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Global Marketing in the 21 st Century The world is contracting quickly with the approach of speedier correspondence, transportation, and budgetary streams. Universal exchange is blasting and represents 20% of GDP around the world. Worldwide rivalry is increasing. Higher dangers with globalization. Copyright 2007, Prentice Hall, Inc.

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Major International Marketing Decisions Looking at the worldwide promoting environment. Choosing whether to go universal. Choosing which markets to enter. Choosing how to enter the market. Settling on the worldwide promoting program. Choosing the worldwide advertising association. Copyright 2007, Prentice Hall, Inc.

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Looking at the Global Marketing Environment The International Trade System: Restrictions—duties, portions, bans, trade controls, and nontariff exchange hindrances. The World Trade Organization and GATT: Helps exchange—lessens levies and other worldwide exchange boundaries. Territorial Free Trade Zones: Groups of countries sorted out to move in the direction of shared objectives in the control of worldwide exchange. Copyright 2007, Prentice Hall, Inc.

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Economic Environment Industrial Structure: Shapes a nation's item and administration needs, pay levels, and business levels. Four sorts: Subsistence economies Raw material trading economies Industrializing economies Industrial economies Copyright 2007, Prentice Hall, Inc.

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Political-Legal Environment Attitudes toward universal purchasing Government organization Political dependability Monetary controls Countertrade Barter Compensation Counterpurchase Copyright 2007, Prentice Hall, Inc.

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Cultural Environment Sellers must inspect the routes shoppers in various nations consider and utilize items before arranging a showcasing program. Business standards and conduct fluctuate from nation to nation. Organizations that comprehend social subtleties can utilize them to favorable position when situating items universally. Copyright 2007, Prentice Hall, Inc.

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Deciding Whether to Go International Reason to consider going worldwide: Foreign assaults on household markets. Outside business sectors with higher benefit openings. Stagnant or contracting household markets. Require bigger client base to accomplish economies of scale. Decrease reliance on single market. Take after clients who are extending. Copyright 2007, Prentice Hall, Inc.

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Deciding Which Markets to Enter Before traveling to another country, the organization ought to attempt to characterize its global showcasing targets and strategies. What volume of remote deals is craved? What number of nations to advertise in? What sorts of nations to enter? Pick conceivable nations and rank in view of market size, showcase development, cost of working together, upper hand, and hazard. Copyright 2007, Prentice Hall, Inc.

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Market Entry Strategies Exporting: Indirect: Working through autonomous universal showcasing go-betweens. Coordinate: Company handles its own fares. Copyright 2007, Prentice Hall, Inc.

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Market Entry Strategies Joint Venturing: Joining with remote organizations to deliver or showcase items or administrations. Approaches: Licensing Contract producing Management contracting Joint possession Copyright 2007, Prentice Hall, Inc.

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Market Entry Strategies Direct Investment: The advancement of remote based get together or fabricating offices. This approach has both preferences and impediments which must be deliberately assessed before settling on a choice. Copyright 2007, Prentice Hall, Inc.

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Deciding on the Global Marketing Program Standardized Marketing Mix: Selling to a great extent similar items and utilizing a similar promoting approaches around the world. Adjusted Marketing Mix: Producer modifies the showcasing blend components to every objective market, bearing more expenses however seeking after a bigger piece of the pie and return. Copyright 2007, Prentice Hall, Inc.

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Global Product Strategies Straight Product Extension: Marketing an item in a remote market with no change. Item Adaptation: Adapting an item to meet nearby conditions or needs in remote markets. Item Invention: Creating new items or administrations for outside business sectors. Copyright 2007, Prentice Hall, Inc.

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Global Promotion Strategies Can utilize an institutionalized topic all around, however may need to make alterations for dialect or social contrasts. Correspondence Adaptation: Fully adjusting a promoting message for neighborhood markets. Changes may must be made because of media accessibility. Copyright 2007, Prentice Hall, Inc.

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Global Pricing Strategies Companies confront numerous issues in setting their worldwide costs. Standard valuing strategies, for example, uniform evaluating, standard markup of costs all around, or charging what the market will bear overlooks cost differentials and nearby economic situations. Copyright 2007, Prentice Hall, Inc.

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Global Pricing Strategies International costs have a tendency to be higher than local costs due to value acceleration . Organizations may get to be liable of dumping when a remote backup charges not as much as its expenses or short of what it charges in its home market. The Internet makes worldwide value contrasts evident and the euro has diminished the measure of value separation. Copyright 2007, Prentice Hall, Inc.

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Global Distribution International firms must take an entire channel perspective of circulating items to definite purchasers. Contrasts in the numbers and sorts of mediators serving each remote market requires time and cash to explore. Size and character of retail units contrast too, showing challenges. Copyright 2007, Prentice Hall, Inc.

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Deciding on the Global Marketing Organization Organize a fare office Create universal divisions Geographical associations World item bunches International backups Become a worldwide association Copyright 2007, Prentice Hall, Inc.

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Discuss how the universal exchange framework, monetary, political-lawful, and social situations influence an organization's global showcasing choices. Portray three key ways to deal with entering global markets. Clarify how organizations adjust their showcasing blends for universal markets. Distinguish the three noteworthy types of worldwide advertising association. Copyright 2007, Prentice Hall, Inc.

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