Samenvatting International Marketing

Een samenvatting van het vak International Marketing, het vat alle PowerPoints en lesopnames samen.

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INTERNATIONAL MARKETING
Content
Content ................................................................................................................................. 1
What’s in a name ................................................................................................................... 4
International Marketing .......................................................................................................... 4
International marketing: 5 decisions ...................................................................................... 4
................................................................................................................. 5
...................................................................................................... 5
........................................................................................................................ 5
............................................................................................................................... 5
CHAPTER 1 – GLOBAL MARKETING .................................................................................. 6
International business ........................................................................................................ 6
Internationalization vs Globalization ............................................................................... 6
Global marketing ........................................................................................................... 6
EPRG Framework.......................................................................................................... 6
Globalization vs Localisation ............................................................................................. 8
CASE: Henkel – Persil Black/Abaya .............................................................................. 9
CASE: McDonalds ......................................................................................................... 9
Glocalization .................................................................................................................. 9
The global marketing concept ...........................................................................................11
Global marketing definition ...........................................................................................11
CHAPER 2 – DECISIONS TO INTERNATIONALIZE (International Analysis) ......................12
Global Marketing in the firm ..............................................................................................12
Global Marketing Decision Model .................................................................................12
Should the company internationalize at all? ..................................................................15
Global Marketing concept .............................................................................................16
Forces for global integration & market responsiveness .................................................18
Value Chain: a framework for identifying international competitive advantage ..............18
Initiation of internationalization..........................................................................................19
Introduction ...................................................................................................................19
Internationalization motives ..........................................................................................19
Triggers of export (change agents) ...............................................................................23
SME’s: Start of internationalization ...............................................................................23
Barriers and risks ..........................................................................................................25
Internationalization theories ..............................................................................................27
The Transaction Cost Analysis (TCA) model ................................................................27
The network model .......................................................................................................27
Born globals..................................................................................................................27
CHAPTER 3 - External analysis & Market selection .............................................................28
Global market research ....................................................................................................28
Information is the key ....................................................................................................28
Link between global market research and the decision-making process .......................28
Secondary and primary data: overview .........................................................................28
The International Market Selection process (IMS) ............................................................29
International Market Selection ......................................................................................29
The IMS strategy of SME’s ...........................................................................................29
Building a model for International Selection ..................................................................30
CHAPTER 4 - External analysis DESTEP ............................................................................42
DESTEP: Demographic factors ........................................................................................42
Demographic influences ...............................................................................................42
DESTEP: Economic factors ..............................................................................................42
Economic development ................................................................................................43
Exchange rates .............................................................................................................45
Trade policy ..................................................................................................................47
Regional economic integration ......................................................................................49
DESTEP: Socio-cultural environment ...............................................................................52
What is culture? ............................................................................................................52
Classification of culture .................................................................................................54
Elements of culture to be researched............................................................................61
DESTEP: Technological factors ........................................................................................65
Global internet usage ....................................................................................................65
Search engines used worldwide ...................................................................................65
DESTEP: Ecological factors .............................................................................................66
Geography ....................................................................................................................66
Climate .........................................................................................................................66
DESTEP: Political/legal factors .........................................................................................66
Type of government ......................................................................................................66
Pressure groups ...........................................................................................................67
Boycotts ........................................................................................................................67
Legislation ....................................................................................................................67
market? ................................................................................................................................68
Macro level National competitiveness ...............................................................................68
Porters’ Diamant ...........................................................................................................68
Related & supporting industries ....................................................................................69
Firm strategy, structure & rivalry ...................................................................................69
Government ..................................................................................................................70
Chance .........................................................................................................................70
Conclusion ....................................................................................................................70
Exercise ........................................................................................................................71
MESO level Competitiveness in an industry .....................................................................72
Porter’s 5 forces ...........................................................................................................73
Intensity of rivalry / Market competitors .........................................................................73
Bargaining power of suppliers .......................................................................................74
Bargaining power of buyers/customers .........................................................................74
Threat of substitute products/services...........................................................................75
Threat of new entrants ..................................................................................................75
Conclusion: Porter’s 5 forces ........................................................................................76
Exercise: Coca Cola .....................................................................................................76
Micro level: competitiveness on customer level ................................................................77
Two fundamental sources of competitive advantage .....................................................78
Blue Ocean vs. Red Ocean strategy .............................................................................78
CHAPTER 6 – Market Approach ..........................................................................................80
Segmenting – targeting – positioning ................................................................................80
Micro segmentation ......................................................................................................80
Target market strategies ...............................................................................................80
Product positioning .......................................................................................................83
Market entry strategies .....................................................................................................85
Alternative Market Entry Modes ....................................................................................85
Export modes ...............................................................................................................86
Contractual modes ........................................................................................................87
Investment modes ........................................................................................................88
Adapting the Marketingmix ...............................................................................................88
Place (Distribution) .......................................................................................................88
Product .........................................................................................................................93
Price ........................................................................................................................... 106
Promotion ................................................................................................................... 113

Document Outline

Content

What’s in a name

International Marketing

International marketing: 5 decisions

CASE: Albert Hein

Albert Hejin Positioning

Assortment

Merger

CHAPTER 1 – GLOBAL MARKETING

International business

Internationalization vs Globalization

Global marketing

EPRG Framework

Ethnocentric

Polycentric (Poly-Centric/Multi-domestic)

Regio-centric

Geocentric

Globalization vs Localisation

CASE: Henkel – Persil Black/Abaya

CASE: McDonalds

Glocalization

Globalization (reasons)

Localizing (reasons)

The global marketing concept

Global marketing definition

Finding Customer needs

Satisfying global customer needs

Better than the competition (how?)

Coordinating marketing activities across the globe

Centralization

Delegation

Standardization

Differentiation

CHAPER 2 – DECISIONS TO INTERNATIONALIZE (International Analysis)

Global Marketing in the firm

Global Marketing Decision Model

Comparison between of SME’s and LSE’s

Management Style LSE’s and Strategic drift (Jonhnson and Scholes)

How to survive strategic drift

Management Style SME’s & Strategy change

Organization, risk-taking & flexibility

Organization

Risk-taking

Flexibility

Economy of Scale

Economy of scope (Synergy)

Use of information resources

LSE’s

SME’s

Should the company internationalize at all?

Degree of industry globalism

Preparedness for internationalization

Nine strategic windows frame (Solberg 1997)

Global Marketing concept

EPRG Framework

Glocalization

Knowledge management

Whether or not to internationalise: Het Huis van Anubis @ studio 100

Forces for global integration & market responsiveness

Future orientation of LSE’s and SME’s

Value Chain: a framework for identifying international competitive advantage

The Value Chain

Internationalizing the value stream

Simplified Value Chain

Initiation of internationalization

Introduction

SME’s: Start of internationalization

Internationalization motives

SME’s: Start of internationalization

Motives

Profit & growth

Managerial enthusiasm

Unique product/technology

Foreign market opportunities / foreign market information

Specialized marketing knowledge or access to information, not known to competition

Economies of scale

Tax benefits

SME’s: Start of internationalization

Motives

Competitive pressure

Small or saturated domestic market

Overproduction / excess capacity

Unsolicited foreign orders

Extended sale of seasonal products

Physical/ psychological proximity to international customers

Triggers of export (change agents)

SME’s: Start of internationalization

TRIGGERS

TRIGGERS internal

Perceptive management

Specific internal event

Importing inward internationalization

TRIGGERS External

Foreign demand

Competition

Trade associations & other outside experts

“Vlamingen in de wereld”

Barriers and risks

SME’s: Start of internationalization

Barriers

Lack of financial means (Hooverphonic)

Lack of production capacity (Westvleteren)

Risks

VIDEO CASE: Tom’s Shoes

Internationalization theories

The Transaction Cost Analysis (TCA) model

The network model

Born globals

Born Global: Skype

CHAPTER 3 - External analysis & Market selection

Global market research

Information is the key

Link between global market research and the decision-making process

Secondary and primary data: overview

The International Market Selection process (IMS)

International Market Selection

SME’s versus LSE’s

The IMS strategy of SME’s

Building a model for International Selection

Determinants for the selection of foreign markets

A model for international market selection

Case Zara

EXAMPLE: WHO’S THAT GIRL

International Market Segmentation

Step 1 and 2: Define criteria & Develop segments

Basis of International Market segmentation – General Characteristics

Geographic

Language

Political

Demography

Economy

Industrial structure

Technology

Social Organization

Religion

Education

Basis of International Market segmentation – Specific Characteristics

Cultural

Lifestyle

Personality

Attitudes & tastes

Step 3: Screening of segments (market/countries)

1. Preliminary screening

Risk indexes

2. Fine-grained screening

Dimensions of country attractiveness and competitive strength

Transational clustering

Case: Bosch security systems in the Middle East

STEP 4: Micro-segmentation

International Market Segmentation

CHAPTER 4 - External analysis DESTEP

DESTEP: Demographic factors

Demographic influences

DESTEP: Economic factors

Economic development

Classification by income (based on GDP)

Developing / less development countries

Newly industrialized countries (NICs)

Advanced industrialized

The Human Development Index (UN)

Exchange rates

Expected Growth rates: state of the market

Exchange rates

Strong or Weak currency: consequences

Devaluation/Revaluation

Devaluation

Revaluation

Manipulation of exchanging rates

The law of one price

Purchasing power Parity

The Big Mac Index

Trade policy

1. Import- export ratio

2. Trade barriers/import restrictions

Financial Barriers

Non-tariff barriers

Quotas

Embargos

Administrative delays

Local-content laws

3. Market regulation

3. Price regulation

5. Tax regulation

Regional economic integration

Free trade area

Customs union

Common market

Economic Union

DESTEP: Socio-cultural environment

What is culture?

Culture & marketing?

Stereotyping

What is culture? (definition)

Cultural characteristics

Learned culture

Interrelated

Shared

Levels of Culture

Tangible aspects

Invisible aspects

Layers of Culture

National culture

Business/industry culture:

Company/organization culture:

Individual behaviour

Classification of culture

High- and low-context cultures (Hall)

Low-context cultures:

High context cultures

Comparative of cultural characteristics

Contextual continuum of differing cultures

Special cultural issues in China

Cultural dimensions (Hofstede)

Gerald Hendrik Hofstede

5 dimensions + 1 of Hofstede

Power Distance Index (PDI)

PDI: Marketing implications

Individualism vs collectivism (IDV)

IDV-COL: Marketing implications

Masculinity vs femininity (MAS)

Masculine cultures

Feminine cultures

Masculinity vs femininity (MAS): Marketing implications

Uncertainty avoidance (UAI)

UAI: Marketing implications

Long term (pragmatic - doelgericht) vs short-term (normative- de norm volgen) orientation (LTO)

Indulgence vs restraint (IND)

Indulgence vs restraint (IND): Marketing implication

Cultural dimensions (Hofstede)

Hofstede: Belgium

Elements of culture to be researched

Visual elements of culture - Language

Language

Manners & customs

Food preferences

Lifestyle & aesthetics

Beauty standards

Symbolism

Numbers

Animals

Values & social morals - Social institutions

Social institutions

Gay marketing

Values and attitudes

Ethics

Basic cultural assumptions – National identity

National identity

Ethnic culture

Religion

Dogma’s & taboos

Ethno-marketing

DESTEP: Technological factors

Global internet usage

Search engines used worldwide

DESTEP: Ecological factors

Geography

Climate

DESTEP: Political/legal factors

Type of government

Political changes

Pressure groups

Pressure groups: UK parent organisation

Pressure groups: Friends of al-Aqsa

Boycotts

Legislation

Sugar tax

CHAPTER 5 – How to create and develop competitive advantage in the international market?

Macro level National competitiveness

Porters’ Diamant

Factor conditions

Example: skills

Example: Natural resources

Example: Knowledge resources / Know-how

Demand conditions

Related & supporting industries

Firm strategy, structure & rivalry

Japanese brand cars

Government

Chance

Example: Indian software industry in Bangalore

Conclusion

Exercise

Silicon Valley: factor conditions

Silicon Valley: demand conditions

Silicon Valley: supporting industries

Silicon Valley: strategy and competition

Silicon Valley: government

Silicon Valley: chance

MESO level Competitiveness in an industry

Porter’s 5 forces

Intensity of rivalry / Market competitors

Differentiation

Bargaining power of suppliers

Bargaining power of buyers/customers

Threat of substitute products/services

Threat of new entrants

Conclusion: Porter’s 5 forces

Exercise: Coca Cola

Rivalry among existing firms

Bargaining Power of Suppliers

Bargaining Power of Buyers

Threat of Substitute Products

Threat of New Entrants

Micro level: competitiveness on customer level

Two fundamental sources of competitive advantage

Blue Ocean vs. Red Ocean strategy

Red ocean strategy

Blue ocean strategy / value innovation

Blue Ocean vs Red Ocean strategy

CHAPTER 6 – Market Approach

Segmenting – targeting – positioning

Micro segmentation

Target market strategies

5 strategies according to D.F Abell

Single-segment concentration

Advantages

Disadvantages

Selective specialization

Advantage

Disadvantage

Market specialization

Product specialization

Full market coverage

Product positioning

Perceptual mapping

CASE: Madame Tussaud’s

Market entry strategies

Alternative Market Entry Modes

Market entry strategies

Classification of Market entry Modes

Different Market entry Modes

Export modes

Export mode: advantages & disadvantages

Advantages

Disadvantages

Contractual modes

Advantages

Disadvantages

Contract manufacturing (examples)

IKEA

Van de Velde

Franchising

Advantages

Disadvantages

Investment modes

Acquisition or greenfield?

Acquisition

Greenfield

Adapting the Marketingmix

Place (Distribution)

Distribution decisions (5)

Determinants of channel decisions (6)

Structure of the channel

Channel width / market coverage

Channel length

The Japanese distribution channel

Managing distribution channels

Selecting distribution channels

Global retail

Retail stores

Top 25 global retailers

Online retail

Product

Product definition

The 3 levels of a product

Product Life Cycle & Time To Market

Limitations of PLC

Technological life cycle

International Product Life Cycle (IPLC)

Product strategy

Standardization vs Adaptation

Standardization

CASE: Planet yogurt

Adaptation

Product components

Core benefits/features

Packaging

Brand

Guarantees, service…

Branding decisions

Private label

Branding decisions: Co-branding

Co-branding / ingredient branding

Branding decisions: Manufacturer’s own brand

Branding decisions: Local brands vs global brands

Multi-local branding

Umbrella branding

Price

International vs domestic pricing

Factors influencing pricing

Firm level Factors

Product factors

Environmental factors

Market factors

International pricing strategies

Production cost – Cost-plus pricing

Customer / Market – Value-based pricing

Competition – Competition-based/market pricing

Price in home market

Pricing across countries

Price coordination in the EU

Price changes

Lowering prices

Product line pricing

Premium priced products vs ‘fighting brands’

Price bundling

Loss leaders

Buy-in / follow-on strategy

Other pricing strategies

Limited pricing

Price discrimination

Psychological pricing

Dynamic pricing

Premium pricing

Premium decoy pricing

Pay what you want pricing

Freemium pricing

Promotion

Standardization vs localization - The product-communication mix

Straight extension

Dual adaptation

Factors influencing communication

Language differences

Economic differences

Sociocultural differences

Communication tools

Adaptation of images

Adaptation of content / message

Adaptation of media:

Public Relations (PR)

Sponsorship of events

Sport sponsorship: One of the only global platforms

Product Placement

Sales promotions

Internet marketing

Personal Selling

Fairs and exhibitions

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Specificaties

Niveau: Hogeschool
School: Arteveldehogeschool
Opleiding: Bedrijfsmanagement
Vaknaam: International Marketing
Studiejaar: 2020-2021
Hoofdstukken: Alle hoofdstukken (6) en alle lesopnames
Document
Rubriek: Samenvattingen
Gemaakt op: 13-01-2021
Bijgewerkt op: 14-01-2021
Type: .pdf
Pagina's: 116
Taal: English
Tags
DESTEP Global Marketing International Marketing Decisions to internationalize External analyses Market selection Market Approach Marketing Mix

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