INTERNATIONAL MARKETING MANAGEMENT SESSION 1: INTRODUCTION

International Marketing Plan 40% Class Participation 10% COURSE OVERVIEW COURSE REQUIREMENTS Cases 20% Exam 30% International Marketing Plan 40% Class Participation 10% 2

Trend Toward Globalization of Markets GOING GLOBAL Trend Toward Globalization of Markets What Is International/Global Marketing? How Does International Marketing Differ From Domestic Marketing? How Does International Marketing Strategy Evolve Over Time? 3

Small and Medium-sized Companies “Going Global” GLOBALIZING MARKETS Companies From Emerging and Industrializing Country Markets (India, Taiwan) Entering Global Markets Small and Medium-sized Companies “Going Global” Globalization Is Occurring in All Types of Industries (From Hamburgers to Football) 4

WHAT IS INTERNATIONAL MARKETING? INVOLVES PERFORMANCE OF MARKETING FUNCTIONS ACROSS NATIONAL BOUNDARIES Physical Shipment of Goods and Services Not Essential Some Transfer of Management Systems, Strategies and Communication Between Countries INCLUDES: Exporting Multi-domestic Marketing Operations Global Integrated Marketing 5

MARKETING #1 IN INTERNATIONAL BLUNDERS? 41% Management 26% Personnel 17% Production 6% Legal 6% Finance 4% Source: Ricks & Arpan, International Business Blunders (Columbus, Ohio: Grid, Inc.) 6

WHAT MAKES GLOBAL MARKETING DIFFERENT? OPERATIONS IN A MULTI-COUNTRY CONTEXT Different Environments Economic/Financial Political/Legal Social/Cultural Differences in Competition Different Marketing Infrastructures Media Distribution Logistics NEED TO: Adjust to These Differences 7

INTEGRATING FORCES OF TECHNOLOGY AND CHANGE YET: Political and Economic Initiatives Growth of International Communication (Satellite, TV, Fax, Internet) Increased Travel, Interaction and Migration Organizational Links Across Markets (Retailers, Manufacturers, Etc.) NEED TO: Co-ordinate and Integrate Operations Across Markets 8

STAGES IN GLOBAL MARKETING STRATEGY Initial Entry Local Market Expansion Global Rationalization STAGE 1 STAGE 2 STAGE 3 9