Lecture Marketing: The core (5/e): Chapter 6 – Kerin, Hartley, Rudelius

Chapter 6: Understanding and reaching global consumers and markets. After reading this chapter you should be able to: Identify the major trends that have influenced world trade and global marketing, identify the environmental forces that shape global marketing efforts, name and describe the alternative approaches companies use to enter global markets,...

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AFTER READING CHAPTER 6, YOU SHOULD BE ABLE TO:

Identify the major trends that have influenced world trade and global marketing.

LO1

Identify the environmental forces that shape global marketing efforts.

LO2

LEARNING OBJECTIVES (LO)

AFTER READING CHAPTER 6, YOU SHOULD BE ABLE TO:

Name and describe the alternative approaches companies use to enter global markets.

Explain the distinction between standardization and customization when companies craft worldwide marketing programs.

LO4

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DOLLAR BUSINESS IN INDIA

MARKETING IN A BORDERLESS ECONOMIC WORLD

TREND 1—DECLINE OF ECONOMIC PROTECTIONISM

Global Ethics and Global Economics—

The Case of Protectionism

FIGURE 6-1 Protectionism hinders world

trade when countries raise prices and limit

supply through tariff and quota policies

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FIGURE 6-2 The European Union in

mid-2012 consists of 27 countries with more

than 500 million consumers

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TREND 3A—GLOBAL COMPETITION

 Global Competition

FIGURE 6-A Global companies and

marketing strategy

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 International Firms

• Multidomestic Marketing Strategy

• Global Marketing Strategy

• Global Brand

TREND 3B—GLOBAL COMPANIES

 Global Consumers

MARKETING IN A BORDERLESS ECONOMIC WORLD

TREND 3C—GLOBAL CONSUMERS

LO1

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The Global Teenager—A Market of 2 Billion

Voracious Consumers with $250 Billion to Spend

MARKETING IN A BORDERLESS ECONOMIC WORLD

TREND 4—A NETWORKED GLOBAL MARKETPLACE

LO1

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CULTURAL DIVERSITY

• Foreign Corrupt Practices Act (1977)

 Cross-Cultural Analysis

 Values

 Customs

FIGURE 6-B Cultural appreciation

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CULTURAL DIVERSITY

 Cultural Symbols

• #13; #4

A GLOBAL ENVIRONMENTAL SCAN

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A GLOBAL ENVIRONMENTAL SCAN

Creative Cosmetics and Creative Export Marketing in Japan

 Joint Venture

JOINT VENTURE

• Advantages

• Disadvantages

GLOBAL MARKET-ENTRY STRATEGIES

 Product Extension

CRAFTING A WORLDWIDE MARKETING PROGRAM

 Countries Impose Pricing Constraints

CRAFTING A WORLDWIDE MARKETING PROGRAM

DISTRIBUTION AND PRICING STRATEGIES

LO4

• Dumping • Gray Market

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