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Global Marketing Global Marketing Definitions International Trade -- movement of goods and services across country borders Multinational Company -- Firm that is produces goods and services in one country and sells them in other countries International Marketing -- performance of marketing functions that facilitate exchange across national borders Considers the needs and wants of international customers Global Marketing AT&T – a multi-national that engages in international marketing Global Marketing Importance of Environmental Analysis in Global Marketing (Note that it is likely different than the US) Economic Environment Economic Strength GNP DPI Economic Development Political-Legal Environment Differences exits Bribery is illegal in US, but is expected in Mexico Stability is the key Global Marketing The Fifteen Nations of the European Union Global Marketing Socio-Cultural Environment Competitive Environment Legality of various competitive structures (OPEC is an oligopoly that openly colludes about pricing decisions – this is illegal in the US) Technological Environment Cultural Differences (walking and meeting people is common in European cities – MacDonald’s has “walk-up” windows, sells beer) Existing Conditions v Potential (Currently Africa is the least “wired” continent – will it be in the future?) International research is essential Global Marketing Harris Black is the leading “international” marketing research firm Firms like this are critical to the success of an international marketer Global Marketing Need to find out about the technological environment in a different country? Check out the World Fact Book a US Government web site that provides such information Global Marketing Recognizing the Cultural Variations of the Market It Serves, Coca-Cola’s Web Site in Belgium Gives Visitors the Choice of Three Cultural/Language Variations: Dutch, French or English. Global Marketing Decisions Orientation Ethnocentric Polycentric Regiocentric Geocentric Global Marketing Decisions (cont’d) Globalization Approaches Local (Domestic) Marketing Exporting Multinational Marketing Regional Marketing Global Marketing Global Marketing Global Markets The world is one market Recognize cultural differences Global Marketing Decisions (cont’d) Globalization Approaches Trade Licensing Importing Exporting Franchising Contractual Agreements Joint Ventures Direct Ownerships Global Marketing Franchising: A Global Strategy for Ruth’s Chris Steak House – a type of “joint venture” Global Marketing Conquering the European Air Travel Market through Joint Ventures Global Marketing Coke’s globalization strategy