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Download LO2 Global Consumers Marketing in a Borderless Economic World
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McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved. LEARNING OBJECTIVES (LO) After reading Chapter 7, you should be able to: LO1 LO2 LO3 Describe the nature and scope of world trade from a global perspective and its implications for Asian countries. Identify the major trends that have influenced the landscape of global marketing in the past decade. Identify the environmental factors that shape global marketing efforts. 1-2 Understanding and Reaching Global Consumer Markets LEARNING OBJECTIVES (LO) After reading Chapter 7, you should be able to: LO4 Name and describe the alternative approaches companies use to enter global markets. LO5 Explain the distinction between standardization and customization when companies craft worldwide marketing programs. 1-3 Understanding and Reaching Global Consumer Markets TATA A Global Conglomerate 1-4 Opening Story – TATA Group of Companies Dynamics of World Trade Trade Flows Global Perspective • Countertrade • Trade Feedback Effect Asian Perspective • Gross Domestic Product (GDP) • Balance of Trade LO1 1-5 World Trade: A Global Perspective FIGURE 7-1 LO1 The United States, China, and Germany are the leaders in global merchandise trade by a wide margin. China and Germany export more manufactured goods and commodities than they import. The United States imports more manufactured goods and commodities than it exports. 1-6 World Trade: A Global Perspective Dynamics of World Trade Dynamic & Trade Flows Porter’s “Diamond” • Factor Conditions • Demand Conditions • Related and Supporting Industries • Company Strategy, Structure, and Rivalry LO1 1-7 World Trade: A Global Perspective FIGURE 7-2 Porter’s diamond of national competitive advantage: 4 key elements on why some countries become world leaders LO1 1-8 World Trade: A Global Perspective Sharp Aquos TV & Bruno Magli Shoes What elements of Porter’s Diamond of National Competitive Advantage LO1 1-9 World Trade: A Global Perspective Marketing in a Borderless Economic World Trend: Decline of Economic Protectionism LO2 Protectionism Tariffs Quota General Agreement on Tariffs and Trade (GATT) World Trade Organization (WTO) 1-10 Major Trends in Global Marketing FIGURE 7-3 Protectionism hinders world trade through tariffs and quotas policies of countries, raising prices and limiting supply LO2 1-11 Major Trends in Global Marketing Marketing in a Borderless Economic World Trend: Rise of Economic Integration European Union • Euro LO2 North American Free Trade Agreement (NAFTA) Asian Free Trade Agreements 1-12 Major Trends in Global Marketing FIGURE 7-4 The European Union in 2007 consists of 27 countries with more than 500 million consumers LO2 1-13 Major Trends in Global Marketing Marketing in a Borderless Economic World Trend: Global Competition Global Competition • Divisions or Subsidiaries LO2 Strategic Alliances 1-14 Major Trends in Global Marketing Marketing in a Borderless Economic World Trend: Global Companies International Firms Multinational Firms • Multidomestic Marketing Strategy Transnational Firms • Global Marketing Strategy • Global Brand LO2 1-15 Major Trends in Global Marketing Marketing in a Borderless Economic World Trend: Global Consumers LO2 Global Consumers 1-16 Major Trends in Global Marketing Marketing in a Borderless Economic World Trend: Global Consumers LO2 Global Consumers 1-17 Major Trends in Global Marketing Marketing Matters The Global Teenager 500 Million Consumers, US$100 Billion to Spend LO2 1-18 Major Trends in Global Marketing A Global Environmental Scan Cultural Diversity Cross-Cultural Analysis Values Customs • Foreign Corrupt Practices Act (1977) • International Anti-Dumping and Fair Competition Act (1998) LO3 1-19 Environmental Factors affecting Global Marketing Efforts A Global Environmental Scan Cultural Diversity Cultural Symbols • Semiotics LO3 #13 1-20 Environmental Factors affecting Global Marketing Efforts A Global Environmental Scan Cultural Diversity Language • Unintended Meanings • Back Translation LO3 Consumer Ethnocentricity 1-21 Environmental Factors affecting Global Marketing Efforts A Global Environmental Scan Economic Considerations Stage of Economic Development • Developed Countries: Japan • Developing Countries Made the Move: Brazil LO3 Remain Locked: Sri Lanka 1-22 Environmental Factors affecting Global Marketing Efforts A Global Environmental Scan Economic Considerations Economic Infrastructure Consumer Income and Purchasing Power • Microfinance: India LO3 Currency Exchange Rate 1-23 Environmental Factors affecting Global Marketing Efforts A Global Environmental Scan Political-Regulatory Climate LO3 Political Stability Trade Regulations 1-24 Environmental Factors affecting Global Marketing Efforts FIGURE 7-6 Alternative Approaches to Global Market Entry LO4 1-25 Entering Global Markets: Alternative Approaches Comparing Global Market-Entry Strategies Exporting Exporting • Indirect Exporting • Direct Exporting LO4 1-26 Entering Global Markets: Alternative Approaches Comparing Global Market-Entry Strategies Licensing LO4 Contract Manufacturing Contract Assembly Franchising 1-27 Entering Global Markets: Alternative Approaches Comparing Global Market-Entry Strategies Joint Ventures & Direct Investments LO4 Joint Venture Direct Investment 1-28 Entering Global Markets: Alternative Approaches Crafting a Worldwide Marketing Program Product Strategies LO5 Product Extension Product Adaptation Product Invention 1-29 Standardization vs Customization FIGURE 7-6 Five product and promotion strategies for global marketing LO5 1-30 Standardization vs Customization Crafting a Worldwide Marketing Program Promotion Strategies LO5 Identical Message Communication Adaptation Dual Adaptation 1-31 Standardization vs Customization Crafting a Worldwide Marketing Program Distribution (Place) & Pricing Strategies Channels Usually Long and Complex Countries Impose Pricing Constraints Prices May Be Too High or Too Low • Dumping LO5 • Gray Market 1-32 Standardization vs Customization FIGURE 7-7 Five product and promotion strategies for global marketing LO5 1-33 Standardization vs Customization
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