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International Marketing

24 Agu

Chapter 16:
International
Marketing

Download IB-CH16 International Marketing

International Business, 4th Edition

Griffin & Pustay

Chapter Objectives_1

Characterize the nature of marketing management in international business

Discuss the basic kin of product policies and decisions made in international business

Identify pricing issues and evaluate pricing decisions in international business

Chapter Objectives_2

Identify promotion issues and evaluate promotion decisions in international business

Discuss the basic kinds of distribution issues and decisions in international business

Marketing

Figure 16.1 International Marketing as an Integrated Functional Area

Marketing Mix

How to develop the firm’s product(s)

How to price those products

How to sell those products

How to distribute those products to the firm’s customers

Figure 16.2 The Elements of the Marketing Mix for International Firms

Key Decision-Making Factors

Standardization versus customization

Legal forces

Economic factors

Changing exchange rates

Target customers

Cultural influences

Competition

Standardization versus Customization

Should the firm adopt an ethnocentric approach?

Should it adopt a polycentric approach?

Should it adopt a geocentric approach?

Table 16.1 Standardized International Marketing

Advantages

Reduces marketing costs

Facilitates centralized control of marketing

Promotes efficiency in R&D

Results in economies of scale in production

Reflects the trend toward a single global marketplace

Disadvantages

Ignores different conditions of product use

Ignores local legal differences

Ignores differences in buyer behavior patterns

Inhibits local marketing initiatives

Ignores other differences in individual markets

 

Table 16.1 Customized International Marketing

Advantages

Reflects different conditions of product use

Acknowledges local legal differences

Accounts for differences in buyer behavior patterns

Promotes local marketing initiatives

Accounts for other differences in individual markets

Disadvantages

Increases marketing costs

Inhibits centralized control of marketing

Creates inefficiency in R&D

Reduces economies of scale in production

Ignores the trend toward a single global marketplace

Prices of these t-shirts in Rome converted from several hundred lira to less than 13 Euro

Pricing Policies

Standard price policy

Two-tiered pricing

Market pricing

Figure 16.3a Determining the Profit-Maximizing Price

Figure 16.3b Determining the Profit-Maximizing Price

Conditions for Market Pricing

Firm must face different demand and/or cost conditions in the countries in which it sells its products

Firm must be able to prevent arbitrage

Risks to Market Pricing

Complaints about dumping

Damage to its brand name

Development of a gray market for its products

Consumer resentment against discriminatory prices

Promotion Mix

Advertising

Personal Selling

Sales Promotion

Public Relations

Factors affecting Advertising Strategy

The message it wants to convey

The media available for conveying the message

The extent to which the firm wants to globalize its advertising effort

A customer entering this domino parlor in Egypt encounters no language barriers in knowing that the establishment serves Coke

Advantages of Personal Selling for International Firms

Local sales representatives understand local culture, norms, and customs

Personal selling promotes close, personal contact with customers

Personal selling makes it easier for firm to adopt valuable market information

Distribution Issues

Physically transporting its goods and services from where they are created to the various markets in which they are to be sold

Selecting the means by which to merchandise its good in the markets it wants to serve

Table 16.2 Advantages and Disadvantages of Different Modes of Transportation for Exports

Basic Parts of a Distribution Channel

The manufacturer

A wholesaler

The retailer

The actual customer

Figure 16.4 Distribution Channel Options

 

 
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Ditulis oleh pada 24/08/2012 in Akutansi International

 

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