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21 Tapping Into Global Markets Marketing Management, 13th ed What is a Global Firm? A global firm is one that operates in more than one country and captures R&D, production, logistical, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 21-2 Major Decisions in International Marketing Deciding whether to go Deciding which markets to enter Deciding how to enter Deciding on the marketing program Deciding on the marketing organization Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 21-3 Four Stages of Internationalization No regular export activities Export via independent agents Establish sales subsidiaries Establish production facilities abroad Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 21-4 Desired Country Characteristics for Market Entry • Rank high on market attractiveness • Rank low in market risk • Possess a competitive advantage Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 21-5 Figure 21.2 Five Modes of Entry into Foreign Markets Indirect exporting Direct exporting Licensing Joint ventures Direct investment Commitment, Risk, Control, Profit Potential Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 21-6 Table 21.2 Global Marketing Advantages • Economies of scale • Lower marketing costs • Power and scope • Consistency in brand image • Ability to leverage • Uniformity of marketing practices Disadvantages • Differences in consumer needs, wants, usage patterns • Differences in consumer response to marketing mix • Differences in brand development process • Differences in environment Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 21-7 What Marketing Aspects Might Be Adapted for International Marketing? • • • • • • Product features Labeling Colors Materials Sales promotion Advertising media • Brand name • Packaging • Advertising execution • Prices • Advertising themes Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 21-8 Figure 21.3 International Product and Communication Strategies Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 21-9