Roll No 8 Tybms

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GLOBAL MARKETTING

submitted by:HEENAL S. MARU

ROLL NO. 8


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OBJECTIVES OF GLOBAL

MARKETING

o Exploit Market Potential and Growth

Gain Economies of Scale and Scope

Learn from the Leading Market

Pressuring Competitors

Diversifying Markets

Learning How to do Business Abroad


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INTRODUCTION TO TOPIC

The chapter starts by looking at theevolution of a firm's orientation fromprimarily a domestic producer to a

global player.

It then goes on to describe the majorfactors that have led to global

marketing, including both economicand social.

Finally the chapter examines the

planning mechanism necessary to


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WIDER SCOPE OPERATION APPROACH

DIVERSITIES AND DIFFERENCES IN CULTURE MARKETTING STRATEGY INTERNATIONAL BUSINESS EVOLUTIONARY PROCESS

MEANING OF GLOBALMARKETING


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DEFINITION

THE OXFORD UNIVERSITY PRESSDEFINES GLOBAL MARKETTING AS

MARKETTING ON A WORLDWIDESCALE RECONCILING OR TAKINGCOMMERCIAL ADVANTAGE OFGLOBAL OPERATIONAL

DIFFFERENCES, SIMILARITIES AND


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ENGAGE IN GLOBAL

MARKETING?1. To Survive and Grow2. Learn to satisfy consumers in diverseconditions

3. Manage marketing tasks moreefficiently and effectively

4. Preempt or counter competitiveattacks in more than one market

5. Expand customer base to includedeveloped and developing nations


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WORLDWIDE COMPETITION

AUTOMOTIVE SALES

INTERNATIONAL MARKETS

TECHNOLOGICAL CHANGE

FOREIGN COMPETITION

DOMESTIC MARKETSMARKET BASED AND SUPERIOR VALUETO CUSTOMERS

KNOWLEDGE ACCUMULATION AND


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The advantages of global market we canintroduce our product by using advertising

Economies of scale in production anddistribution

Lower marketing costsPower and scopeConsistency in brand image

Ability to leverage good ideas quickly andefficiently

Uniformity of marketing practicesHelps to establish relationships outside of

the "political arena"

ADVANTAGES OF GLOBALMARKETING


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Differences in consumer needs, wants, andusage patterns for products

Differences in consumer responseto marketing mix elements

Differences in brand and productdevelopment and

the competitive environmentDifferences in the legal environment, someof which may conflict with those of the homemarket

Differences in the institutions available,

DISADVANTAGES OFGLOBALMARKETING


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FEATURES OF GLOBALMARKETING

REACH

SCOPE

INRERACTIVITYIMMEDIACY

DEMOGRAPHICS AND TARGETTING

ADAPTIVITY AND CLOSED LOOPMARKETTING


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Select & Implement Foreign Market Entry Select Countries, Mode of Entry etc

Perform Local Marketing Abroad

Promote Products and ServicesConduct Market Research

Manage Advertising Campaign

Manage Global Operations

Roles of a Global Manager


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Foreign Competitors : Foreign Firms are themost direct competitors of a Globalizing firm.

Foreign Competitors from the same countrycan be analyzed as a separate StrategicGroup.

E.g: Samsung, LGFirms from the same country follow similar

strategyRegional Trade Blocs also help Foreign

Competitors.

Foreign Competitors


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Pioneering Costs

Customer Tastes & Preferences are unknown

New Distribution Channel may have to be setup

Customers have to be educated

Advertising Expenses, Promotion expenseswill be high

Few Firms tend to be Followers SecondMover Advantage


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GLOBAL

MARKETTING MIX PRODUCT PRICE

PLACEMENT

PROMOTION


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STRATEGIES OF GLOBAL MARKETTING

Treating the global market as the domestic market.

Creating a global marketing mix, which at the

same time recognizes regional and nationaldifferences, such as differences in language andtastes.

Creating global production and distributionsystems, e.g. super factories covering major areasof the world.

Concentrating on power brands - the most


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FACTORS PROMOTINGGLOBAL MARKETTING

INFORMATION, COMMUNICATIONSTECHNOLOGY

STANDARDISATION

THE TRANSFORMATION OF INDUSTRIALECONOMIES

TRANSFORMATION OF BUSINESS

ENTRERPRISES GLOBAL CULTURE

THE EMERGING DIGITAL FIRM

SUPPLY CHAIN MANAGEMENT


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IMPETUS TO GLOBALMARKETTING INVOLVEMENT

Foreign customers

Importers

Intermediaries

Other sources

QUESTIONNAIRE


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Q.1 What are the principal differences between marketing domestically and internationally orglobally?

An: Essentially there is no difference between the two. Both require the identification of

product/market objectives, an analysis of the internal and external environment and theorganizing, planning, implementation and control of an effective marketing strategy. Thedifferences lie in the degree of market similarities and differences, and the extent to which theproduct to be marketed is environmentally sensitive or insensitive

Q.2What factors have led to the growth of "Internationalism" since World War II? Discuss which you

think are the most important and why

An: Factors include:

1.Theoretic - comparative advantage, the Product Trade Cycle and Perl mutter's businessorientation. Market forces - market clusters, technology, cost/volume considerations, shrinkingof transport and communication gaps, international leverage.

2. The International System - development of economic blocs, growth in domestic economies, theInternational Monetary Framework, global peace, communication and transport technology,global corporation growth, GATT.

3. Others - impetus through global experience, attitudes (Cavusgil), behavior, context and theinternational infrastructure.

Q.3 Which concepts and techniques are available to aid marketers isolate differences and

QUESTIONNAIRE


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Going global will stretch and mold companyresources into a globally effective marketingorganization.

Global Managers will have to select the rightentry strategies, decide on trade - offsbetweenlocalization or global standardization toachieve the optimal local responsiveness andglobal scale of economies.

When Going global, it is better to take helpfrom experts for market entry, market

research & international Financing

CONCLUSION


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BIBILOGRAPHY

WWW.GOOGLE.COM

REFERENCE BOOKS

EXPERTS

NEWSPAPERS

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