International Marketing: Chapter 12 Key Concepts Benefits of global marketing Stages in the international planning process Market Entry Strategies

The 1970s: Adaptation versus Standardization View of World: Many Markets Focus: Cultural Differences Strategy: Adaptation International Marketing View of World: One Market Focus: Cultural Similarities Strategy: Standardization Global Marketing

The 1980s & 1990s: Move toward Global Integration The globalization of markets A shrinking world Technology Travel Homogenization of consumer tastes

21st Century: Move Back to Localization Fostered by: New efficiencies of customization Internet New flexible manufacturing processes Global markets continue to homogenize and diversify simultaneously Best companies avoid trap of segmenting by country

Global Segmentation Variables Others Variables May Be More Important Climate Language Group Media Habits Age Income Country

Benefits of Global Marketing Economies of Scale in Production Economies of Scale in Marketing Experience & Knowledge Across Countries Uniform Global Image Control and Coordination of Operations

Successful Planning for Global Markets Company and objectives and resources International commitment Dollars, personnel, and long-term commitment Planning process Phase 1: Preliminary Analysis and Screening Phase 2: Adapting marketing mix Phase 3: Developing the marketing plan Phase 4: Implementation and control

International Planning Process

The Planning Process Phase I Phase II Phase III Phase IV Preliminary analysis and screening (matching company and country needs) Adapting marketing mix to target markets (a more detailed examination of the components of the marketing mix) Developing the marketing plan (situation analysis, entry mode, and specific action program for the specific market) Implementation and control (implementing of specific plans and anticipation of successful marketing)

Market-Entry Strategies

Building Strategic Alliances