Global vs. "Regular" Marketing Show
Scope of activities extend beyond the home-country market the commitment of organizational resources to pursuing global market opportunities and responding to environmental threats in the global marketplace value of Global Marketing: create value for customers by improving benefits or reducing price - Improve the product - find new distribution channels - Create better communications - Cut monetary and non- monetary costs and prices Value= Benefits/Price
adaptation vs. standardization internationally adaptation: match local preferences Globalization (Standardization) Developing standardized products marketed worldwide with a standardized marketing mix. -essence of mass marketing Global localization: adaptation -Mixing standardization and customization in a way that min costs while max satisfaction -Essence of segmentation -what can be standardized and what needs to be changed -Think globally, act locally: ex: coca-colas many faces 4 management orientations: 1. ethnocentric orientation 2. polycentric orientation 3. regiocentric orientation 4. geocentric orientation
leads to a standardized or extension approach ex: walmart in Germany, didnt see the differences the pursuit of a global market opportunity using an extension strategy of minimal marketing mix variation in different countries -ethnocentric orientation managements use of domestic country marketing programs and strategies when entering new country markets -ethnocentric orientation -each country is unique -each subsidiary develops own unique business and marketing strategy -often referred to as multinational -leads to localized/ adaptation approach more expensive! localized (adaption) approach the pursuit of global marketing opportunities using an adaption strategy of marketing mix variations in different countries -assumes products must be adapted to local market conditions -polycentric orientation - A region is the relevant geographic unit ex: European
Union market -some companies serve markets throughout the world but on a regional basis ex: general motors had 4 regions for awhile Management Orientations: Geocentric Orientations
driving forces affecting global integration and global marketing
* globalization can "give life" to a product in a new country after it has hit declining stage- could be in growth stage somewhere else ways of living, built up by a group of human beings, that are transmitted from one generation to another -has both conscious and unconscious values, ideas, attitudes, and symbols -acted out in social institutions -both physical (clothing) and nonphysical (religion) -where culture is acted out -family -education -religion -government -business material and nonmaterial culture material: physical culture -clothing -tools -decorative art, etc quote about culture by Geert Hofstede "culture is the collective programming of the mind that distinguishes the members of one category of people from those of another"
could be considered a category in culture - nation - an ethnic group - a gender group - an organization -a family -they are emerging -persons who share meaningful sets of consumption-related symbols -pub culture, coffee culture, fast-food culture global consumer culture is primarily the product of a: technologically interconnected world -internet -satellite TV -cell phones learned tendency to respond in a consistent way to a given object or entity an organized pattern of knowledge that an individual holds to be true about the world enduring belief or feeling that a specific mode of conduct is personally or socially preferable to another mode of conduct
these are an important source of beliefs, attitudes and values the sense of what is beautiful and what is not beautiful -what represents good taste as opposed to tastelessness or even
obscenity rules of sentence formation in china it is bad luck to give these 3 items Marketings impact on culture: -Universal aspects of the cultural environment represent opportunites to standardize elements of a marketing program
saudi arabia and japan
US and Germany time in high context culture polychromic-everything in life must be dealt with in terms of its own time time in low context culture monochronic- time is money your culture is like your nose - you dont see it properly yourself -everybody else does and thinks it is peculiar if it differs from theirs -you always go where it leads you -its always in the way What are hofstedes 5 cultural dimensions of cultural typology? 1) power distance (equality, inequality) 2) uncertainty avoidance 3)individualism/ collectivism 4)Masculinity 5) long term orientation power distance- cultural typology 1 of hofstedes cultural typologies -distribution of power ----equality: inequality accepted
---inequality:
individualism/ collectivism- cultural typology people and the group ---individual is central
---group is central
masculinity-cultural typology ---masculinity
---femininity
uncertainty avoidance- cultural typology ---uncertainty is bad
---uncertainty is inevitable
long-term/short-term orientation- cultural typology ---long-term
---short-term
unconscious reference to ones own cultural values creates: perceiving one's culture as superior and having a very narrow minded view of cultures other than your own how to reduce cultural myopia
diffusion theory; the adoption process the mental stages through which an individual passes from the time of his/her first knowledge of an innovation to the time of product adoption or purchase -awareness, -interest, -evaluation, - trial, -adoption 5 factors that affect the rate at which innovations are adopted include
diffusion theory: adopter categories
introduction stage
growth stage
beginning of maturity stage
mid/end of maturity stage
decline stage environmental sensitivity reflects:
risk of change in political environment or government policy that would adversely affect a companys ability to operate effectively and profitably when perceived political risk is high: a country will have a hard time attracting foreign direct investment Examples of Political Risk
government taxation policies high taxation can lead to black market growth and cross-border shopping (China) companies attempt to limit tax liability by shifting location of income governmental action to dispossess a foreign company or investor -legal as long as you get some sort of compensation
ILLEGAL a government takes control of some or all of the enterprises in an entire industry -transfers ownership from private to public sector Nationalization acceptable according to International law if: 1. Satisfies public purpose 2. includes compensation Limits economic activities of foreign firms Creeping expropriation may include: - Limits on repatriation of profits, dividends, or royalties - Technical assistance fees -tariffs - Increased local content laws - Quotas for hiring local nationals - Price controls - Discriminatory tariff & non-tariff barriers - Discriminatory laws on patents & trademarks disputes between nations are issues of public international law -world court -international court of justice -judicial arm of the united nations drew on the roman legal system and is the basis for continental european law today code law is also known as disputes are decided by reliance on the authority of past judicial decisions -companies are legally incorporated by state authority -code law is used in only a few areas -legal system reflects the structural concepts and principles of the roman empire -companies are formed by contact b/w 2 or more parties who are fully liable for the actions of the company legal system in many middle eastern countries -sharia -koran: holy book (code law) -hadith (common law) -islamic lawa comprehensive code governing muslim conduct in all areas of life, including business -from the koran a collection of sayings of the Prophet muhammed. -identifies forbidden practices "haram" refers to a courts authority to rule on particular types of issues arising outside of a nations borders or to exercise power over individuals or entities from different countries -employees of foreign companies should understand the extent to which they are subject to the jurisdiction of host-country courts -courts have jurisdiction if it can be demonstrated that the company is doing business in the state the court sits must be registered in each country where business is conducted -patent -trademark -copyright infringement of intellectual property
associative counterfeiting What are the 4 types of management orientations in global marketing?Company management can be classified in terms of its orientation toward the world: ethnocentric, polycentric, regiocentric, or geocentric.
Which of the following professionals is most closely associated with the company's reputation?Advertising quiz 3. Which term best describes the existence of different age groups within a company's target market?Demographic: These are the main characteristics that define your target market. Everyone can be identified as belonging to a specific age group, income level, gender, occupation, and education level.
What percentage of American shoppers say they would prefer to communicate with business via email?More than seven in 10 (72 percent) U.S. adults indicate a preference for companies to communicate with them via email followed by postal mail (48 percent), TV ads (34 percent), print media (e.g., newspapers, magazines) (31 percent), text message (19 percent), social media and in-person conversation/consultation (both ...
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Which of the following management orientations is most likely to assume that foreign countries are similar to the companys home country?
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