* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Chapter One - Cengage Learning
Bayesian inference in marketing wikipedia , lookup
Product planning wikipedia , lookup
Neuromarketing wikipedia , lookup
Food marketing wikipedia , lookup
Affiliate marketing wikipedia , lookup
Marketing communications wikipedia , lookup
Target audience wikipedia , lookup
Marketing channel wikipedia , lookup
Sports marketing wikipedia , lookup
Marketing research wikipedia , lookup
Digital marketing wikipedia , lookup
Ambush marketing wikipedia , lookup
Youth marketing wikipedia , lookup
Multi-level marketing wikipedia , lookup
Target market wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Viral marketing wikipedia , lookup
Sensory branding wikipedia , lookup
Advertising campaign wikipedia , lookup
Direct marketing wikipedia , lookup
Marketing strategy wikipedia , lookup
Marketing plan wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Green marketing wikipedia , lookup
Multicultural marketing wikipedia , lookup
1 Introduction to Global Marketing Learning Objectives • Describe the development of global marketing. • Explain the importance of global marketing and the need for a global mindset. Chapter Outline • The Importance of Global Marketing – Why Companies Seek Global Markets • The Development of Global Marketing – – – – – – Domestic Marketing Export Marketing International Marketing Multidomestic Marketing Pan-Regional Marketing Global Marketing • Why Study Global Marketing? – A Need for Global Mindsets – Organization of This Book Why Firms Seek Global Markets • • • • React to inquiry from abroad Seek more sales and profits Little or no growth at home Respond to a domestic competitive shock • Follow major customers abroad • Leverage economies of scale and scope Development of Global Marketing • • • • • • Domestic marketing Export marketing International marketing Multidomestic marketing Pan-regional marketing Global marketing Global Marketing • A global marketing strategy involves the creation of a single strategy for a product, service, or company for the entire global market Factors Affecting Standardization versus Adaptation Standardization Similar tastes in diverse countries Strong country of origin image Scale economies in production, R & D, Marketing High cost of adaptation Adaptation Variations in consumer needs and conditions of use Variations in consumer income and ability to buy Strong cultural differences affecting produce and use Difference in technical standards Difference in government regulations affecting the product A Need for Global Mindsets • Knowledge of other countries, economies, and cultures • Understanding of how the global economy works • Ability to recognize and use ideas from different markets • Perception of how to integrate actions taken in one national market with actions in other markets