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LHM Chapter 04 MKTG

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					Developing a Global Vision

Chapter 4

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Globalization

“The inexorable ___________ of markets, nation-states, and technologies.” Tom Friedman The Lexus and the Olive Tree

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Global Vision

 Recognize and react to international marketing opportunities  Be aware of threats from foreign competitors  Use international distribution networks
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Leading Multinational Firms

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Multinational Advantage

 Overcome trade problems  Sidestep regulatory problems  Shift _____________ from one plant to another  Leverage ideas around the world

 Save in labor costs
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On Line http://www.cocacola.com http://www.colgate.com

Global Marketing Standardization

 World markets are becoming more _______  Standardized products can be sold the same way worldwide
 Successful companies may vary products for global markets
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The External Environment
___________ Economic and Technological Development

Environmental Factors

Political Structure

Demographic Makeup

Natural Resources
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Legal Considerations

Tariff Quota Boycott

Exchange Control
Market Grouping _____ __________

A tax levied on goods entering a country Limit on the amount of a product entering a country Exclusion of products from a country Foreign exchange must be sold to a control agency Common trade alliance An agreement to stimulate international trade
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On Line http://www.wto.org

Political and Legal Considerations

Examples

_________

NAFTA

European Union

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Marketing Considerations

Demographic Makeup

 Population density
 _______ or _______

 Personal income
 Rise of global middle class

 Supply of professionals
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Differences in Resources create…

Natural Resources

   

International dependencies Shifts of wealth Inflation and recession Export opportunities if resources are abundant  Stimulus for military intervention
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Why “Go Global”?

 Earn additional _______
 Leverage a unique product or technological advantage  Possess exclusive market information

 Utilize “economies of scale”
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On Line http://www.4kidsentertainmentinc.com

Risk Levels for Global Entry

Risk
_____ Contract _______ ManuExport Licensing facturing Direct Investment

High risk/ high return

Low risk/ low return

Return
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On Line http://www.mattelscrabble.com http://www.monopoly.com On Line http://www.mcdonalds.com

Product and Promotion
Same Product One Product One Message Change Product Product ___________

Same Message

Change Message

Message Adaptation

Product Invention

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Pricing

 Must consider transportation and insurance costs, taxes and _________
 Determine what customers will spend

 Ensure that foreign buyers will pay them
 May need to simplify a product to lower price
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7th and Houston St. www.fwic.com

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Learning Objectives
1. Discuss the importance of global marketing. 2. Discuss the impact of multinational firms on the world economy. 3. Describe the external environment facing global marketers.

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Learning Objectives (continued)
4. Identify the various ways of entering the global marketplace. 5. List the basic elements involved in developing a global marketing mix. 6. Discover how the Internet is affecting global marketing.

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posted:11/25/2009
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