10 - global marketing Flashcards
what is global marketing?
concerned with integrating or standardising marketing actions across different geographical markets
rise in international trade
intensity of global competition
what are the triggers for international expansion?
- saturated domestic markets
- small domestic markets
- low growth domestic markets
- customer drivers
- competitive forces
- cost forces
- cost factors
- portfolio balance
what are the macro economic factors to consider when going global?
- size
- stage of economic development
- infrastructure
what are the macro socio cultural factors to consider when going global?
- psychic distance
- language
- body language
- colour
- numbers
- behavioural norms and customs
what are the macro political legal factors to consider when going global?
- attitudes towards internationalist investment
- government bureaucracy
- political stability
- monetary regulations
what are the macro technological factors to consider when going global?
- access to mobile internet
- mobile ownership
- promotion techniques
- distribution channels
what are the micro market attractiveness factors to consider when going global?
- market size and growth rates
- competition
- costs of serving market
- profit potential
- market access
what are the micro company capability profile factors to consider when going global?
- skills
- resources
- product adaptation
- competitive advantage
what are the reasons to standardise?
- advances in world communications
- connected generation
- economies of scale and cost savings
- all customers wants good products at low prices
- adapting dilutes brand image
- reasonable at a time when trade barriers are down
what is an example of when stadarsation has gone wrong?
Walmart - Germany
1997
kept same strategies as US but didn’t translate as well in Germany
what are the reasons to adapt?
- culture and consumption patterns
- language
- media availability and preference
- in reality all standardisation is rare
what are the international product and promotion strategies?
- straight product extensions
- product adaptation
- product invention
- communication adaptation
- dual adaptation
what is straight product extension?
- standardise
- brands can be recognised immediately
- economies of scale
wha is product adaptation?
- adapt product, no change to promotion
mcdonalds
mclobster - cananda
beer - germany
rice - hong kong
what is product invention/
- develop new product
- change product and communication
- backward invention
