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Chapter Objectives LEARNING OBJECTIVES LO1 Identify the factors that aid the growth of globalization LO2 Explain the components of a country market assessment LO3 Describe the various market entry strategies LO4 List the similarities and differences between a domestic marketing strategy and a global marketing strategy LO5 Explain how ethical issues affect global marketing practices 16-1 LO4 Choosing a Global Marketing Strategy: Target Market (STP) Cultural nuances Subcultures View of product and consumer role Different positioning Adaptation Single positioning strategy 16-2 LO4 Adapting for Global Success How do firms successfully introduce a new product to a global market? 16-3 LO4 Case in Point: Introducing Coffee to China Challenge Answer Results Nestle wants to introduce its top global instant coffee brand Nescafe to China. Chinese consumers were not coffee drinkers thus needed to be educated in how to consume the product. Nescafe “3 in 1”, coffee, creamer and sweetener in one. Ideal mix for Chinese market easily reconstituted for best taste. Nescafe dominates the in-home coffee category in China. 16-4 LO4 Case in Point: Nescafe in China 16-5 LO4 The Global Marketing Mix: Product or Service Strategies Sell the same product or service in both the home country market and host country Sell a product or service similar to that sold in home country but include minor adaptations Sell totally new products or services 16-6 LO4 MTV Conquers the World Seen in 374.4 million households 164 countries, 34 channels, 18 languages Mix of standardized and local content benefited local music and artists E.g. Salam Dangdut in Indonesia 16-7 LO4 Managing the Global Marketing Mix How do firms manage the global marketing mix? 16-8 LO4 Case in Point: Walmart’s Failed Experiment Challenge Answer Results To continue to grow the most successful retailer in the U.S., Walmart. Walmart enters Germany with the same value proposition (EDLP) it has in the U.S. Stiff competition from entrenched local competitors, a sluggish economy as well as problems with workers and regulators led to Walmart exiting the market in 2006. The sale to competitor Metro resulted in pre-tax loss of $1Billion. 16-9 LO4 Walmart International Walmart Brazil Walmart China 16-10 LO4 Global Marketing Mix: Pricing Strategies Antidumping Policies Quotas Tariffs Price Economic Conditions Competitive factors 16-11 LO4 Global Marketing Mix: Global Distribution Strategies • Some global channels are very long and complex. • Consumer shop local small local stores. • Suppliers must be creative in delivering to these outlets. FedEx Commercial 16-12 LO4 Global Marketing Mix: Global Communication Strategies Literacy levels vary by country Firms choose whether to adapt to language differences Cultural and religious differences also matter 16-13