Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Chapter 1 The International Marketing Imperative Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. What is International Marketing? • The process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. International Marketing Questions Should I obtain my supplies domestically or from abroad? What marketing adjustments are or will be necessary? What threats from global competition should I expect? How can I work with these threats to turn them into opportunities? What are my strategic global alternatives? Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. World Trade Importance • World trade has grown from $200 billion to more than $7 trillion in the past three decades. • The Iron Curtain is gone and capitalism has replaced the old economic doctrines. • Firms invest on a global scale. • Increasingly more difficult to define “where” products come from. • New trading blocs are emerging. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Global Linkages • Global linkages bind countries, institutions, and individuals more closely than ever. • World trade opens up entirely new business horizons. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Trade and Domestic Growth Rates Percentage of Growth 12% 10% Trade Growth 8% 6% 4% Domestic Growth 2% 01 20 00 20 99 19 98 19 97 19 96 19 95 19 94 19 93 19 92 19 91 19 90 19 89 19 88 19 19 87 0% Year SOURCE: International Financial Statistics Yearbook IMF 2000. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Domestic Policy Repercussions Considerations • Lowering of interest rates, happy U.S. customers but what about impact of countries offering higher interest rate? • Agricultural and farm polices. • Currency flows. • Exchange rates. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Meeting International Challenges • Be prepared and develop active responses. • Develop new strategies. • New plans are needed. • Adaptation to the new environment and markets. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Strategic Marketing Marketing Manager’s Task • To plan and execute programs that will ensure a long-term competitive advantage for the company. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Marketing Manager’s Supporting Tasks • Determine the specific target markets. • Manage the marketing mix in order to best satisfy the needs of individual target markets. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Target Market Selection Occupants Opposition Operations Developed by Cool Pictures & MultiMedia Presentations Objects Target Market Organization Occasions Objectives Outlets Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Marketing Management Product Product Policy Promotion Communication Policy Target Market Price Pricing Policy Place Distribution Policy Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. The Process Stages in the Marketing Process Analysis: • Collect data on the eight O’s from data sources- primary and secondary, internal and external, formal and informal. Screen data for opportunities to employ company resources for competitive advantage. Planning: • Develop a marketing plan which includes a situation analysis, goals and objectives, long-term strategies and short-term tactics, cost and profit estimates, and anticipated changes in organizational structure. Implementation: • Take actions to put the plan into action. Adjust implementation activities to account for environmental changes in market conditions. Control: • Use annual planning (sales to forecast), profitability, and efficiency controls to monitor the plan’s successes and failures. Developed by Cool Pictures & MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved.