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MT330 International Marketing Unit One Welcome! Course Overview The Scope and Challenge of International Marketing Note: This seminar will be recorded by the instructor. Ebook • This class has an e-text. Reading your e-text is important in order to complete all assignments Welcome • Dr Bob Goldwasser [email protected] • MBA in Technology Management • DBA in Marketing • International Marketing Consultant with over 15 years experience working overseas 1-3 Let’s Review: Course Element Overview Six Grading Elements- See your Syllabus for grading allocation ►Discussions- Units 1- 9 ►Assignments- Units 1, 2, 3, 4, 5, 6, 7, 8 and 10 ►Final Project - Unit 10 ►Journal- Units 4 and 9 ►Graded Seminars 1-9 . GRADING CRITERIA/COURSE EVALUATION Assessments Number Points each Total Points Discussions 9 30 270 Assignments 8 40 320 Journals 2 50 100 Seminars 9 15 135 Final Project 1 125 125 Unit 10 Final Assignment 1 50 50 Total Points 1000 Let’s Review: Discussions • Make sure to follow discussion requirements in syllabus – Primary post by Saturday, a minimum of two posts to others – Post on three days – Minimum of 100 words • Opportunity to clarify concepts covered in unit • Read the discussions directions first! Hit the directions logo. • Exchange ideas and ask questions to others Discussion Parameters Quality (40%) of your post will be measured on: • All assigned discussion questions were answered completely • Posts were on topic and unique in content • All posts demonstrated analysis of the topic Participation Guidelines (30%) will be measured on: • Initial post no later than Saturday, midnight EST • Posts made to each discussion question on at least 3 different days • The original post to be no less than 100 words • Clarity and Organization of Writing (20%) of your post: • Posts were organized and logical • No spelling or grammatical errors • References were used and cited properly Professional & Netiquette (10%) in your post will be measured on: • Respect and consideration toward peers/instructors • Appropriate language • Professional use of abbreviations and acronyms Let’s Review: Working with the assignments • Review the rubric in the syllabus for guidelines • Proof your work– grammar and spelling matter. • Use APA as appropriate when citing sources- NO cutting and pasting from sources • Apply the concepts and language of the course • Answer all the questions thoroughly • If something is confusing, check with your professor Let’s Review: Final Project • In your final project you will look at a case study involving Super Sonic Smoothie. Your paper will be a four to six page paper using APA format (not including the Title and Reference pages).. • The research projects will require research, application, and creativity as well as analysis • You will read the case and do some research that will help you answer the questions below. In addition to some information in the text’s chapters on culture, there are quite a few places on the internet and in the Kaplan Online Library that will help you. • Your Final Project is worth 125 points and due at the end of Unit 9. Let’s Review: Seminars You must be an active participant- What does this mean? • Rewarding part of the online experience. • Opportunity to ask questions • Opportunity to interact with classmates You must attend or you will be required to do the alternate assignment…a 2-3 page paper in order to receive any of the 15 points. SEMINAR: • For those of you who are unable to attend the live class, the seminars are recorded and will be made available for you to review at a later time. If you listen to them and send me the secret code mentioned, you will receive credit. These archived seminars will remain available for the entire term. Let’s Review: Deadlines • All units close midnight EST on Tuesdays • Discussion threads will be closed at that time and cannot be handed in late • All unit projects are also due at that time Without Extenuating Circumstances: • Up to one week (1-7 calendar days) late 20% deduction in points • After one week (8-14 calendar days) late 30% deduction in points • No work will be accepted more than two (2) weeks after the due date. Any questions on the syllabus? What Should You Learn? • The changing face of U.S. business • The scope of the international marketing task • The importance of the self-reference criterion (SRC) in international marketing • The progression of becoming a global marketer • The increasing importance of global awareness 1-14 Global Perspective: Global Commerce Causes Peace • Global commerce during peace time – Commercial aircraft and space vehicle industries – Mobile phone industry – Individuals and small companies • International markets are ultimately unpredictable – Flexibility means survival 1-15 Events and Trends Affecting Global Business • The rapid growth of the World Trade Organization and regional free trade areas • The trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe • The burgeoning impact of the Internet, mobile phones, and other global media on the dissolution of national borders • The mandate to properly manage the resources and global environment for the generations to come 1-16 The Internationalization of U.S. Business • Increasing globalization of markets • Increasing number of U.S. companies are foreign controlled – $16.3 trillion in foreign investment in the U.S. – $2.6 trillion more than American overseas investment • Increasing number of foreign companies building and buying manufacturing plants in the U.S. • Increasing difficulty for domestic markets to sustain customary rates of growth 1-17 Foreign Acquisitions of U.S. Companies Exhibit 1.1 1-18 Selected U.S. Companies and Their International Sales Exhibit 1.2 1-19 International Marketing • Performance of business activities designed to – – – – Plan Price Promote, and Direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit 1-20 Environmental Adaptation • Ability to effectively interpret the influence and impact of the culture in which you hope to do business – Cultural adjustments • Establish a frame of reference • Avoid measuring and assessing markets against the fixed values and assumptions of your own culture 1-21 Developing a Global Awareness • Tolerance of cultural differences: – Understanding cultural differences and accepting and working with others whose behavior may be different from yours • Knowledge of cultures, history, world market potential, and global economic, social, and political trends 1-22 Approaches to Global Awareness • Select individual managers specifically for their demonstrated global awareness • Develop personal relationships in other countries • Have a culturally diverse senior executive staff or board of directors 1-23 Stages of International Marketing Involvement • No direct foreign marketing • Infrequent foreign marketing • Regular foreign marketing • International marketing • Global marketing 1-24 No Direct Foreign Marketing • Products reach foreign markets indirectly – – – – – Trading companies Foreign customers who contact firm Wholesalers Distributors Web sites • Foreign orders pique a company’s interest to seek additional international sales 1-25 Infrequent Foreign Marketing • Caused by temporary surpluses – Variations in production levels – Increases in demand • Firm has little or no intention of maintaining continuous market representation – Foreign sales decline when demand or surplus decreases – May withdraw from international markets • Little or no change in company organization or product lines 1-26 Regular Foreign Marketing • Firm has production capacity devoted to foreign markets • Firm employs domestic or foreign intermediaries – Uses its own sales force – Sales subsidiaries in important markets • Products allocated or adapted to foreign markets as demand grows • Firm depends on profits from foreign markets 1-27 Global Marketing • Company treats world, including home market as one market • Market segmentation decisions no longer focused on national borders – Defined by income levels, usage patterns, or other factors • More than half of revenues come from abroad • Organization takes on global perspective 1-28 Strategic Orientation • Domestic market extension orientation • Multidomestic market orientation • Global market orientation 1-29 Domestic Market Orientation • International operations viewed as secondary • Prime motive is to market excess domestic production • Firm’s orientation remains basically domestic • Minimal efforts are made to adapt product or marketing mix to foreign markets • Firms with this approach are classified as ethnocentric 1-30 Multidomestic Market Orientation • Companies have a strong sense that foreign country markets are vastly different • Market success requires an almost independent program for each country – Separate marketing strategies – Subsidiaries operate independently of one another in establishing marketing objectives and plans – Products are adapted for each market • Control is decentralized 1-31 Global Market Orientation • Company guided by global marketing orientation – Marketing activity is global – Market coverage is the world • Firm develops a standardized marketing mix applicable across national boundaries – Markets are still segmented – Each country or region is considered side by side with a variety of other segmentation variables – Fits the regiocentric or geocentric classifications 1-32 The Orientation of International Marketing • An environmental/cultural approach to international strategic marketing • Intended to demonstrate the unique problems of international marketing • Discussion of international marketing ranges from the marketing and business practices of small exporters to the practices of global companies 1-33 Summary • The internationalization of American business is proceeding with increasing pace • The globalization of markets and competition necessitates all managers to pay attention to the global environment • International marketing is defined as the performance of business activities across national borders 1-34 Summary • Environmental differences must be taken into account if firms are to market products and services at a profit in other countries – Laws – Customs – Cultures • Self-reference criteria and ethnocentrism limit international marketer’s abilities to understand and adapt to differences prevalent in foreign markets 1-35 Any Questions? Thank you for attending! See you next week!