Welcome to final class of International Marketing Dr Welcome to final class of International Marketing Dr. Satyendra Singh Professor, Marketing & International Business https://abem.uwinnipeg.ca

Objectives Understand the concept of marketing in an international context and the factors contributing to marketing success. Acquire knowledge and skills needed for implementation of international marketing strategies. Identify and analyze international markets in terms of the products, services and the three Ps (people, process and physical evidence.)

Course Outline Term test Class participation  Research-based group project Individual presentation Group presentation Case Study – Role Play Final exam – Cumulative Journal articles Time management

The International Model

Culture SRC: one’s own cultural values, experiences, and knowledge as a basis for decisions Ethnocentrism: one’s own culture or company knows best how to do things

Stages of International Marketing No Direct Foreign Marketing Infrequent Foreign Marketing Regular Foreign Marketing International Marketing Global Marketing

Strategic Orientations EPRG Schema Domestic Marketing Extension Ethnocentric Multidomestic Marketing Polycentric Global Marketing Regio/Geocentric

Products, Services, Forecasting

Definition/Characteristics of Services Intangibility Insurance, dry cleaning, hotel Inseparability Production and consumption is simultaneous Heterogeneity Individually produced, slight variation Perishability Cannot be stored

Branding and Messaging Explains a product and what it stands for Brand is a function of Years of advertising Good will Quality evaluation Product experience Other attributes the market associates with the product Three Branding Strategies Global Brands Multiple National Brands Private Brands

Pricing Strategies Foreign National Pricing International Pricing Local pricing in foreign country International Pricing Different pricing for exports Strategic Pricing Impact of pricing in one country will have on pricing in another country Fuji vs. Kodak

The 5Cs of Distribution Character of your Company and the market Perishable items, complexity of sales requires, SAS, aggressive managers Coverage Distribution intensity, 100%; several channels may be needed Continuity Serious issue if family-owned channel; may not carry the line with less margin Control Own/short channel  more control on price, volume, promotion Cost Transporting and sorting, breaking bulk, provide credit, advertising, Negotiations

Strategic Decisions in International Expansion

International Market Entry Strategies

Negotiations and interpreting Contracts Negotiation team No of people, rank, maturity, flexibility, optimism, knowledge Preliminaries Facts, agenda, concession (beginning vs. end) bad/good guy, note taker, observer At the negotiation table Nontak sounding, task related information, persuasion, concession Follow-up Contract (long vs. short), trust, relationship

We also learnt current trends did presentations on creativity

Thank you.