Welcome to final class of International Marketing Dr. Satyendra Singh

Objectives

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

Course Outline Term test on int’l marketing aspects of businesses Class participation  Research-based group project Individual presentation Group presentation Final exam on the whole book! + handouts, computer, journal articles, websites

Others Reviewed/helpful rapid feedback/main points Extended office hours Sensitive students needs Encouraged and respected your viewpoint Emphasized difficult points Promoted intellectual curiosity Clarity/repeated Interesting/practical examples Encouraged to speak Working as group in a respectful manner Marking

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 and Services

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

Brands 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

International Pricing Inflation Interest rate Foreign currency fluctuations Parallel imports Price escalation

International Distribution -- USA

International Distribution -- Japan

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

International Communications Process

Traits of Emerging Markets Physically large Significant populations Represent markets for a wide range of products Strong rate/potential of/for growth Undertaken programs of economic reform Major political importance within their regions Rregional economic drivers Engender neighbouring markets as they grow

Steps in Business Negotiations 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

Int’l product Life Cycle

Recent Trends in Marketing No age difference! Changing role of women Buying experience vs product/services Ethics in branding Family size  globally Tribal Consumer  Global “tribes” of consumers—people who live in different countries and come from different cultures, but who share similar interests and feel a high level of affinity with consumers elsewhere. Postmodern marketing

And finally...

It was my pleasure teaching you. thank you!