international business Chapter 01 introduction

international business Chapter 01 introduction

1. The Scope and Challenge of International Marketing Chapter one

2. What is marketing? Marketing activities center on an organization’s efforts to satisfy customer wants and needs with products and services that offer competitive value Marketing can be defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

3. Four Ps of Marketing the features, benefits, packaging, and branding of the product the cost of production, distribution, and marketing, as well as the perceived value of the product. . advertising, public relations, sales promotions, and personal selling. 01 02 03 Product Price Promotion 04 Place physical location of stores, online channels, and other methods of distribution.

4. International marketing “in more than one country,” accounts for the complexity and diversity found in international marketing operations International marketing is the performance of business activities designed to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit.

5. The International Marketing Task

6. Global marketing “ A company’s effort to apply internationally the principles learned from its domestic marketing programs and create an integrated strategy not on a country by country basis, but with a global perspective on all aspects of the marketing mix.

7. WHY GLOBAL MARKETING IS IMPERATIVE? Due to intense competition and market saturation, sales growth has begun to stagnate. rapid economic development, rising incomes, and growing consumer markets, offer both significant opportunities and challenges Global competition in domestic market Saturation of domestic market Emerging markets Global competition

8. WHY GLOBAL MARKETING IS IMPERATIVE? Trade agreements like NAFTA, the EU, and the WTO Lower tariffs and import duties eliminated geographical barriers Data-Driven Marketing Personalisation Mass Production Risk Diversification efficient use of resources Global cooperation Internet revolution E conomies of Scale

9. “

10. From Consumer's points of view Consumption of non-produced goods. Consumption of goods at low price. Enjoy the benefit of competition. Increase in total consumption.

11. From economic points of view Increase total production Challenging natural calamities Knowledge and cultural progress Increase international peace and assistantship Extension of industry Optimum utilization of natural resources Import of essential goods Image development Employment opportunities Improving standard of living Economic development

12. THE DECISION WHETHER TO INTERNATIONALIZE Growth Strategy Economies of scale Increased customer base Risk Profile Maturity Competitive Advantages High level market Analysis Consumer behavior types Cultural Difference Economic system Political system Legal system Intellectual property concern Company Industry Market Should we go global?

13. Competing in international markets

14. How to go Global

15. Evolution of Global Marketing

16. Management Orientation each country is unique should therefore be targeted in a different way localized or adaptation approach the home country is superior the needs of the home country are most relevant a standardized or extension approach Polycentric Ethnocentric

17. Management Orientation The firm may offer global product concepts but with local adaptation The firm tries to integrate and coordinate its marketing programme within regions Geocentric Regiocentric

18. Glocalization “ The development and selling of products or services intended for the global market, but adapted to suit local culture and behaviour. (Think globally, act locally.)

19. Glocalization framework